Maplewood Residence Inc
- Assets
- $2.4m
- Revenue
- $635.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairmont, MN
- Founding
- 07/1985
- Data as of
- 09/2023
- EIN
- 36-3361594
Organization Overview
Maplewood Residence Inc is located in Fairmont, MN. The organization was established in 1985. 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. Maplewood Residence 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, Maplewood Residence Inc generated $635.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $475.8k during the year ending 09/2023. While expenses have increased by 1.0% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
MRI IS A 24 HOUR SECURE INDEPENDENT SENIOR LIVING COMPLEX THAT HAS 39 RENTABLE APARTMENTS WITH A VARIETY OF FLOOR PLANS. MRI OFFERS SENIORS MAINTENANCE FREE LIVING IN A FUN AND FRIENDLY COMMUNITY ENVIRONMENT. WE OFFER FREE TRANSPORTATION TWICE A WEEK FOR YOUR SHOPPING OR APPOINTMENT NEEDS. MEAL PACKAGES, HOUSEKEEPING AND LAUNDRY SERVICE ARE AVAILABLE FOR A FEE. MRI IS A PART OF LAKEVIEW HEALTH CARE CAMPUS, ALLOWING TENANTS TO UTILIZE THE MANY AMENITIES THAT ARE AVAILABLE ON THE CAMPUS SUCH AS CHAPEL AND CHAPLAIN SERVICES, BEAUTY SALON, THERAPY SERVICES AND A GIFT SHOP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Barnes Executive Director | 1 | $0 | |
Tania Wallace Financial Director | 1 | $0 | |
Courtney Cutler President | 1 | $0 | |
Chuck Haugen Vice President | 1 | $0 | |
Melissa Tumbleson Treasurer/ Secretary | 1 | $0 | |
Les Anderson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $68,555 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $566,675 |
| Total Revenue | $635,230 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $3,092 |
| Interest | $248 |
| Taxes | $0 |
| Depreciation | $53,468 |
| Occupancy | $96,233 |
| Travel, conferences, and meetings | $3,637 |
| Printing and publications | $0 |
| Other expenses | $89,455 |
| Total operating and administrative expenses | $475,830 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $475,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,523,916 |
| Net Accounts receivable | $937 |
| 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 | $199 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $921,048 |
| Other assets | $0 |
| Total assets | $2,446,300 |
| Accounts payable and accrued expenses | $61,441 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $42 |
| Other liabilities | $44,077 |
| Total liabilities | $105,560 |