Oakwood Health Promotions Inc
- Assets
- $120.9m
- Revenue
- $17.5m
- Investments
- $67.6m
- Employees
- 0
- Location
- Southfield, MI
- Founding
- 03/1988
- Data as of
- 12/2022
- EIN
- 38-2601965
Organization Overview
Oakwood Health Promotions Inc is located in Southfield, MI. The organization was established in 1988. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oakwood Health Promotions 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 12/2022, Oakwood Health Promotions Inc generated $17.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $21.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 7 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
PROVISION OF INDEPENDENT LIVING, ASSISTED LIVING, ALZHEIMER'S CARE, AND SKILLED NURSING CARE.
Describe the Organization's Program Activity:
OAKWOOD HEALTH PROMOTIONS, INC. PROVIDES SENIOR LIVING APARTMENTS FOR OVER 165 RESIDENTS, AND ASSISTED LIVING APARTMENTS FOR OVER 42 RESIDENTS WHICH INCLUDES MEALS, ACTIVITIES, SECURITY SERVICES, TRANSPORTATION, AND FITNESS. OAKWOOD HEALTH PROMOTIONS, INC. ALSO PROVIDES NURSING HOME CARE, WITH THE MAJORITY OF THE NURSIING HOME RESIDENTS BEING MEDICARE OR MEDICAID PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director/chair | OfficerTrustee | 1 | $0 |
Name Not Listed Director/treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Director/president/secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Director/treasurer - Part Year | OfficerTrustee | 1 | $0 |
Name Not Listed Director/chair - Part Year | OfficerTrustee | 1 | $0 |
Name Not Listed Director/chair - Part Year | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison Management Specialists Inc Food Service Staffing | 12/30/22 | $2,851,843 |
Holsbeke Construction Inc Construction Management Services | 12/30/22 | $1,020,440 |
Therapy Management Inc Therapy Services | 12/30/22 | $348,183 |
Onecare Rx Pharmacy Services | 12/30/22 | $282,309 |
Grapetree Medical Staffing Llc Staffing Services | 12/30/22 | $154,560 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $107,045 |
| 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 | $107,045 |
| Total Program Service Revenue | $16,536,695 |
| Investment income | $904,476 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,548,575 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $2,546 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $117,655 |
| Fees for services: Other | $16,089,755 |
| Advertising and promotion | $81,581 |
| Office expenses | $184,977 |
| Information technology | $18,350 |
| Royalties | $0 |
| Occupancy | $1,198,716 |
| Travel | $54,958 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $893,018 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,686,198 |
| Insurance | $236,765 |
| All other expenses | $0 |
| Total functional expenses | $21,123,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $587,122 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,192,239 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $44,724 |
| Prepaid expenses and deferred charges | $66,102 |
| Net Land, buildings, and equipment | $20,167,687 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $67,575,734 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,288,107 |
| Total assets | $120,921,715 |
| Accounts payable and accrued expenses | $1,422,208 |
| Grants payable | $0 |
| Deferred revenue | $265,204 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,545,910 |
| 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 | $56,264,473 |
| Total liabilities | $65,497,795 |
| Net assets without donor restrictions | $55,423,920 |
| 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 | $120,921,715 |