Oakwood Village University Woods Homes Inc
- Assets
- $73.6m
- Revenue
- $19.7m
- Investments
- $0.0
- Employees
- 1,094
- Location
- Madison, WI
- Founding
- 08/1963
- Data as of
- 12/2023
- EIN
- 39-0790565
Organization Overview
Oakwood Village University Woods Homes Inc is located in Madison, WI. The organization was established in 1963. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Oakwood Village University Woods Homes Inc employed 1,094 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Oakwood Village University Woods Homes 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 12/2023, Oakwood Village University Woods Homes Inc generated $19.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $27.0m during the year ending 12/2023. While expenses have increased by 6.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OAKWOOD IS A LUTHERAN CHURCH SPONSORED ORGANIZATION WHOSE MISSION IS TO SERVE AGING ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEBRON OAKS IS A 60 BED SKILLED NURSING FACILITY, PROVIDING NURSING SERVICES, THERAPY SERVICES, NUTRITION MANAGEMENT, MEDICATION MANAGEMENT, AND LIFE ENRICHMENT ACTIVITIES. DURING 2023, THERE WERE 12,590 CENSUS DAYS OF CARE FOR THESE RESIDENTS. PAYER SOURCES FOR THESE RESIDENT DAYS INCLUDE PRIVATE PAY, MEDICARE, MANAGED CARE, AND MEDICAID. SOME OF THESE PAYER SOURCES DO NOT COVER THE FULL COST OF CARE. HOUSEKEEPING, LAUNDRY, PLANT OPERATIONS/MAINTENANCE, PHARMACY AND REHABILITATION SERVICES ARE ALSO PROVIDED AS PART OF THE OVERALL SERVICES RENDERED. RESIDENTS WHO ARE NOT ELIGIBLE FOR PUBLIC ASSISTANCE AND ARE UNABLE TO PAY MAY BE SUBSIDIZED INTERNALLY.
HOME HEALTH PROVIDES PHYSICAL THERAPY, OCCUPATIONAL THERAPY, AND SKILLED NURSING SERVICES TO OAKWOOD RESIDENTS, AS WELL AS OFF-CAMPUS PATIENTS. PAYER SOURCES FOR THESE SERVICES INCLUDE MEDICARE PART A AND SELECT MEDICARE ADVANTAGE PLANS. HOSPICE PROVIDES MEDICAL, EMOTIONAL, AND SPIRITUAL CARE FOR RESIDENTS AND THEIR LOVED ONES WHEN THEY NEED IT MOST. PAYER SOURCES FOR THESE SERVICES MEDICARE PART A AND HOSPICE BENEFITS PROVIDED BY SOME PRIVATE INSURANCE COMPANIES.
COVENANT OAKS IS A 40 BED DEMENTIA-SPECIFIC ASSISTED LIVING FACILITY. DURING 2023, THERE WERE 13,638 CENSUS DAYS OF CARE FOR THESE RESIDENTS. PAYER SOURCES FOR THESE RESIDENTS INCLUDE PRIVATE PAY AND LIMITED MEDICAID-TYPE PROGRAMS. RESIDENTS WHO ARE NOT ELIGIBLE FOR PUBLIC ASSISTANCE AND ARE UNABLE TO PAY MAY BE SUBSIDIZED INTERNALLY. THE SERVICES PROVIDED INCLUDE NURSING, RESIDENT ASSISTANCE, NUTRITION MANAGEMENT, MEDICATION MANAGEMENT, LIFE ENRICHMENT ACTIVITIES AND PASTORAL CARE.
OAKWOOD PHARMACY IS A FULL SERVICE PHARMACY PROVIDING PRESCRIPTION FULFILLMENT, MEDICATION MANAGEMENT, AND RESIDENT CONSULTING SERVICES TO ALL OAKWOOD RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peder Moren Chair | OfficerTrustee | 2 | $0 |
Calvin Williams Chair, Interim CEO (thru Mar) | OfficerTrustee | 10 | $44,135 |
Kelly Sitkin Vice Chair | OfficerTrustee | 2 | $0 |
Stan York Vice Chair (through May) | OfficerTrustee | 2 | $0 |
Tom Hanson Treasurer | OfficerTrustee | 2 | $0 |
Richard Rossmiller Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parasol Alliance Information Technology Services | 12/30/23 | $473,150 |
Cliftonlarsonallen Llp Accounting/consulting Services | 12/30/23 | $334,528 |
Zeal (Plex Capital) Nursing Staffing Agency | 12/30/23 | $223,075 |
Theracore Management Group Llc Therapy Management Services | 12/30/23 | $144,000 |
Pro Ed Continuum Llc Agency Staffing | 12/30/23 | $107,856 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,132,566 |
| Government grants | $1,896,812 |
| 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 | $4,029,378 |
| Total Program Service Revenue | $15,523,541 |
| Investment income | $102,436 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,778 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,692,710 |
| 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. | $288,107 |
| Compensation of current officers, directors, key employees. | $28,811 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,525,224 |
| Pension plan accruals and contributions | $323,287 |
| Other employee benefits | $1,911,143 |
| Payroll taxes | $796,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $128,878 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,273 |
| Fees for services: Other | $2,773,690 |
| Advertising and promotion | $157,283 |
| Office expenses | $498,157 |
| Information technology | $477,601 |
| Royalties | $0 |
| Occupancy | $846,129 |
| Travel | $8,100 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,184,999 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,497,733 |
| Insurance | $205,805 |
| All other expenses | $62,175 |
| Total functional expenses | $26,952,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,380,126 |
| Savings and temporary cash investments | $11,298,394 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,526,968 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $420,920 |
| Prepaid expenses and deferred charges | $727,771 |
| Net Land, buildings, and equipment | $45,167,041 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $304,974 |
| Other assets | $2,804,690 |
| Total assets | $73,630,884 |
| Accounts payable and accrued expenses | $9,286,807 |
| Grants payable | $0 |
| Deferred revenue | $28,156 |
| Tax-exempt bond liabilities | $43,052,907 |
| 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 | $37,887,627 |
| Total liabilities | $90,255,497 |
| Net assets without donor restrictions | -$17,339,270 |
| Net assets with donor restrictions | $714,657 |
| 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 | $73,630,884 |