Northwest Home For The Aged
- Assets
- $104.3m
- Revenue
- $11.2m
- Investments
- $76.0m
- Employees
- 31
- Location
- Chicago, IL
- Founding
- 04/1950
- Data as of
- 12/2023
- EIN
- 36-2216170
Organization Overview
Northwest Home For The Aged, operating under the name Park Plaza Retirement Center, is located in Chicago, IL. The organization was established in 1950. 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 12/2023, Park Plaza Retirement Center employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Park Plaza Retirement Center 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 12/2023, Park Plaza Retirement Center generated $11.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (27.4%) each year. All expenses for the organization totaled $7.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES INDEPENDENT LIVING FOR THE ELDERLY IN THE CHICAGOLAND AREA THROUGH THE OPERATION OF A 196-UNIT APARTMENT COMPLEX KNOW AS PARK PLAZA RETIREMENT CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elly Bauman Executive Director | 40 | $156,962 | |
David Rubin President | 5 | $0 | |
Sanford Bokor Vice President | 5 | $0 | |
Marvin Katz Secretary | 5 | $0 | |
Norman Finkel Treasurer | 5 | $0 | |
Ronald Abrams Director | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pershing Advisor Solutions Llc | 12/30/23 | $99,941 |
Bmo Wealth Management | 12/30/23 | $98,628 |
Vanguard Financial Advisor Services | 12/30/23 | $74,830 |
Latitude Advisors Llc | 12/30/23 | $50,266 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $27,604 |
| Interest on Savings | $13,584 |
| Dividends & Interest | $1,859,606 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,087,854 |
| Capital Gain Net Income | $6,087,854 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,186,943 |
| Total Revenue | $11,175,591 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $156,962 |
| Other employee salaries and wages | $1,316,052 |
| Pension plans, employee benefits | $226,842 |
| Interest | $0 |
| Taxes | $105,600 |
| Depreciation | $1,428,792 |
| Occupancy | $1,078,582 |
| Travel, conferences, and meetings | $24,262 |
| Printing and publications | $0 |
| Other expenses | $3,144,563 |
| Total operating and administrative expenses | $7,915,476 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $7,915,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,430 |
| Savings and temporary cash investments | $1,623,167 |
| Net Accounts receivable | $27,390 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,185 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $8,472,268 |
| Net Land, buildings, and equipment | $26,425,267 |
| Other assets | $4,104 |
| Total assets | $104,273,526 |
| Accounts payable and accrued expenses | $451,203 |
| Grants payable | $1,987,557 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $237,000 |
| Total liabilities | $2,675,760 |
Grants Awarded
Over the last fiscal year, Northwest Home For The Aged has awarded $5,100,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATED TALMUD TORAHS OF CHICAGO PURPOSE: SUPPORT OF JEWISH COMMUNITY AND ITS YOUNGER GENERATION | $5,000,000 |
AKIBA-SCHECHTER JEWISH DAY SCHOOL ENDOWMENT FUND PURPOSE: SUPPORT OF JEWISH COMMUNITY AND ITS YOUNGER GENERATION | $100,000 |