Phs Chanhassen Inc
- Assets
- $23.4m
- Revenue
- $7.3m
- Investments
- $1.1m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 11/2000
- Data as of
- 09/2023
- EIN
- 31-1725630
Organization Overview
Phs Chanhassen Inc is located in Roseville, MN. The organization was established in 2000. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phs Chanhassen Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Phs Chanhassen Inc generated $7.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $6.4m during the year ending 09/2023. While expenses have increased by 2.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PHS/CHANHASSEN INC. IS LOCATED IN CHANHASSEN, MINNESOTA. THE CAMPUS CONSISTS OF 71 ASSISTED LIVING APARTMENTS WITH 18 SPECIALLY DESIGNED FOR MEMORY CARE RESIDENTS AND 90 INDEPENDENT SENIOR LIVING APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Lindh Board Chair/ceo | OfficerTrustee | 1 | $0 |
Mark Meyer Sec/treas/cfo | OfficerTrustee | 1 | $0 |
Jonathan Fletcher VP Development | 1 | $0 | |
Duane Larson Brd Vice Chair | Trustee | 1 | $0 |
Mark Pederson Brd Vice Chair | Trustee | 1 | $0 |
Teresa Larson SVP Employee Experience | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phs Management Llc Management Fee | 9/29/23 | $365,942 |
Advanced Health Institute Healthcare Services | 9/29/23 | $169,357 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $13,948 |
| Government grants | $5,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,198 |
| Total Program Service Revenue | $7,047,964 |
| Investment income | $30,692 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $86,695 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$310 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,288,782 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,111 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,321,399 |
| Pension plan accruals and contributions | $34,194 |
| Other employee benefits | $232,203 |
| Payroll taxes | $190,645 |
| Fees for services: Management | $365,942 |
| Fees for services: Legal | $11,900 |
| Fees for services: Accounting | $4,596 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $227,812 |
| Advertising and promotion | $20,479 |
| Office expenses | $81,736 |
| Information technology | $74,578 |
| Royalties | $0 |
| Occupancy | $627,018 |
| Travel | $5,317 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,121 |
| Interest | $579,766 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $896,197 |
| Insurance | $114,893 |
| All other expenses | $0 |
| Total functional expenses | $6,401,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,304,906 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,717 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,475 |
| Net Land, buildings, and equipment | $13,704,004 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,092,975 |
| Investments—program-related | $0 |
| Intangible assets | $241,268 |
| Other assets | $1 |
| Total assets | $23,413,346 |
| Accounts payable and accrued expenses | $612,555 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $11,852,642 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,593,076 |
| Total liabilities | $17,058,273 |
| Net assets without donor restrictions | $6,355,073 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,413,346 |