Indiana Masonic Home Inc
- Assets
- $101.0m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 400
- Location
- Franklin, IN
- Founding
- 03/2003
- Data as of
- 12/2022
- EIN
- 35-2187477
Organization Overview
Indiana Masonic Home Inc, operating under the name Compass Park, is located in Franklin, IN. The organization was established in 2003. 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. As of 12/2022, Compass Park employed 400 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Compass Park 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 12/2022, Compass Park generated $14.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $10.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE THE CHARITABLE PURPOSE OF OPERATING THE CONTINUING CARE RETIREMENT COMMUNITY KNOWN AS THE INDIANA MASONIC HOME IN FRANKLIN, INDIANA.
Describe the Organization's Program Activity:
PROVIDE CARE FOR THE AGED. THE HOME PROVIDES HOUSING, HEALTH CARE, AND OTHER RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RETIREMENT FACILITY CONTAINING INDEPENDENT LIVING HOMES AND APARTMENTS, ASSISTED LIVING APARTMENTS, AND A HEALTH CARE FACILITY LOCATED IN FRANKLIN, INDIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard J Elman Grand Secretary | OfficerTrustee | 1 | $0 |
Eric J Vermeulen Board Member | Trustee | 1 | $0 |
Gary W Brinley President | OfficerTrustee | 1 | $0 |
Constance Branigan Board Member | Trustee | 1 | $0 |
Ronald L Buskirk Vice President | OfficerTrustee | 1 | $0 |
Richard L Lentz Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcgowan Insurance Group Inc Insurance Brokerage | 12/30/22 | $354,032 |
Gordon Food Service Food Services | 12/30/22 | $424,586 |
Sentrics Information Technology | 12/30/22 | $159,552 |
Rays Demolition Demolition Services | 12/30/22 | $169,531 |
Hts In X Inc Therapy | 12/30/22 | $281,379 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $457,227 |
| Fundraising events | $28,975 |
| Related organizations | $3,596,176 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $309,355 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,391,733 |
| Total Program Service Revenue | $8,592,105 |
| Investment income | $215,725 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $263,072 |
| Net Income from Fundraising Events | -$6,336 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,415,364 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $242,439 |
| Compensation of current officers, directors, key employees. | $242,439 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,894,158 |
| Pension plan accruals and contributions | $76,297 |
| Other employee benefits | $1,533,168 |
| Payroll taxes | $792,825 |
| Fees for services: Management | $39,232 |
| Fees for services: Legal | $72,640 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,955 |
| Fees for services: Other | $90,361 |
| Advertising and promotion | $121,630 |
| Office expenses | $317,562 |
| Information technology | $119,348 |
| Royalties | $0 |
| Occupancy | $766,892 |
| Travel | $73,284 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,017,712 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,406 |
| Insurance | $298,352 |
| All other expenses | $423,652 |
| Total functional expenses | $10,708,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,893,752 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $686,803 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $70,386 |
| Prepaid expenses and deferred charges | $119,798 |
| Net Land, buildings, and equipment | $451,886 |
| Investments—publicly traded securities | $8,808,811 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $240,001 |
| Other assets | $86,776,835 |
| Total assets | $101,048,272 |
| Accounts payable and accrued expenses | $778,923 |
| Grants payable | $0 |
| Deferred revenue | $8,479,877 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $28,562,833 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $138,487 |
| Total liabilities | $37,960,120 |
| Net assets without donor restrictions | -$20,252,517 |
| Net assets with donor restrictions | $83,340,669 |
| 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 | $101,048,272 |