Westminster Place
- Assets
- $184.5m
- Revenue
- $61.3m
- Investments
- $0.0
- Employees
- 502
- Location
- Skokie, IL
- Founding
- 12/1940
- Data as of
- 03/2024
- EIN
- 36-2167832
Organization Overview
Westminster Place is located in Skokie, IL. The organization was established in 1940. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 03/2024, Westminster Place employed 502 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster Place 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 03/2024, Westminster Place generated $61.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $59.2m during the year ending 03/2024. As we would expect to see with falling revenues, expenses have declined by (4.5%) per year over the past 9 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
WESTMINSTER PLACE, A FAITH BASED NOT FOR PROFIT, CREATES VIBRANT COMMUNITIES FOR OLDER ADULTS THAT INSPIRE WELLNESS, INDEPENDENCE, JOY AND SECURITY - ENRICHING THE LIVES OF RESIDENTS AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WESTMINSTER PLACE IS A NOT-FOR-PROFIT INDEPENDENT LIVING, LIFE PLAN COMMUNITY (FORMERLY KNOWN AS CONTINUING CARE RETIREMENT COMMUNITY). INDEPENDENT LIVING FACILITY IN WESTMINSTER PLACE CONSISTS OF 236 APARTMENTS, TOWNHOUSES AND COTTAGES. SERVICES PROVIDED BY WESTMINSTER PLACE INCLUDE FLEXIBLE DINING OPTIONS, HOUSEKEEPING AND COMPLETE MAINTENANCE SERVICES, TRANSPORTATION AS WELL AS PLANNED SOCIAL AND EDUCATIONAL ACTIVITIES AND PROGRAMS. DURING THE FILING YEAR, WESTMINSTER PLACE SERVED 310 INDEPENDENT LIVING RESIDENTS.
OTHER PROGRAM SERVICES - REVENUE IS RELATED TO LEASE INCOME FROM RELATED ORGANIZATIONS AND OTHER INCOME.
THE ASSISTED LIVING FACILITY AT WESTMINSTER PLACE PROVIDES ASSISTED LIVING FOR OLDER ADULTS WHO NEEDED ASSISTANCE WITH PERSONAL CARE AND DAILY ACTIVITIES. IT CONSISTS OF 93 STUDIO, ONE AND TWO-BEDROOM APARTMENTS. DURING THE FILLING YEAR, WESTMINSTER PLACE ASSISTED LIVING FACILITY SERVED 123 RESIDENTS.
WESTMINSTER PLACE HEALTH CARE CENTERS PROVIDE INTERMEDIATE AND SKILLED NURSING FOR BOTH SHORT AND LONG TERM STAYS. RESPITE, REHABILITATION, AND PROGRAMS TO CARE FOR THOSE WITH ALZHEIMER'S DISEASE AND OTHER COGNITIVE IMPAIRMENTS ARE ALSO AVAILABLE. THE HEALTH CARE CENTERS INCLUDE 100 SKILLED, MEDICARE-CERTIFIED BEDS AND 95 INTERMEDIATE AND MEMORY CARE BEDS. DURING THE FILING YEAR, THE HEALTH CARE CENTERS SERVED A TOTAL OF 459 RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vince Kelly Director /co-Chair | OfficerTrustee | 1 | $0 |
Eric Mollman Director /co-Chair | OfficerTrustee | 1 | $0 |
Mark Wetzel Director /treasurer | OfficerTrustee | 1 | $0 |
Elinor Hite Director /secretary | OfficerTrustee | 1 | $0 |
Jim Brault Director | Trustee | 1 | $0 |
Robert Dearborn Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unidine Corporation Dining / Food Services | 3/30/24 | $3,131,840 |
Illinois Construction Services Inc Construction | 3/30/24 | $3,354,667 |
Atomatic Mechanical Services Inc Hvac Mechanical Contractor | 3/30/24 | $1,177,652 |
Skender Construction Llc Construction | 3/30/24 | $1,009,882 |
Healthpro Heritage Therapy Management And Consulting Servic | 3/30/24 | $1,019,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,526,727 |
| Government grants | $246,879 |
| 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 | $2,773,606 |
| Total Program Service Revenue | $55,164,435 |
| Investment income | $2,471,446 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,591 |
| Net Gain/Loss on Asset Sales | $729,713 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $21,697 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,327,855 |
| 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. | $266,679 |
| Compensation of current officers, directors, key employees. | $266,679 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,300,837 |
| Pension plan accruals and contributions | $885,720 |
| Other employee benefits | $2,432,084 |
| Payroll taxes | $1,553,539 |
| Fees for services: Management | $3,927,324 |
| Fees for services: Legal | $152,885 |
| Fees for services: Accounting | $27,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,464 |
| Fees for services: Other | $4,829,138 |
| Advertising and promotion | $785,780 |
| Office expenses | $162,338 |
| Information technology | $758,495 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $517 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,501,955 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,199,631 |
| Insurance | $783,997 |
| All other expenses | $599,969 |
| Total functional expenses | $59,177,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,883,025 |
| Savings and temporary cash investments | $38,129,185 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,576,045 |
| 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 | $893,335 |
| Net Land, buildings, and equipment | $115,723,277 |
| Investments—publicly traded securities | $23,910,934 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,360,218 |
| Total assets | $184,476,019 |
| Accounts payable and accrued expenses | $9,123,456 |
| Grants payable | $0 |
| Deferred revenue | $35,846,539 |
| Tax-exempt bond liabilities | $45,352,829 |
| 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 | $48,985,197 |
| Total liabilities | $139,308,021 |
| Net assets without donor restrictions | $45,167,998 |
| 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 | $184,476,019 |