Fairhaven Corporation

Organization Overview

Fairhaven Corporation is located in Whitewater, WI. The organization was established in 1964. 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, Fairhaven Corporation employed 173 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairhaven Corporation 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, Fairhaven Corporation generated $10.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $9.0m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE HOUSING AND SERVICES, INCLUDING SKILLED NURSING AND REHAB TO SENIOR ADULTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SERVING RESIDENTS SINCE 1962, FAIRHAVEN CORPORATION (FAIRHAVEN OR THE CORPORATION) IS A NONPROFIT LIFE PLAN COMMUNITY RELATED TO THE WISCONSIN CONFERENCE OF THE UNITED CHURCH OF CHRIST, LOCATED IN WHITEWATER, WISCONSIN. FAIRHAVEN'S MAIN CAMPUS INCLUDES INDEPENDENT APARTMENTS, ASSISTED LIVING, SUPPORTIVE LIVING, MEMORY CARE, AND THE HEALTH AND REHABILITATION CENTER OFFERING SKILLED NURSING CARE. THE CORPORATION OFFERS LIFE LEASE ENTRANCE FEE AND MONTHLY FEE AGREEMENTS. THE CORPORATION HOLDS A COMMUNITY BASED RESIDENTIAL FACILITY (CBRF) LICENSE FOR 150 BEDS AVAILABLE IN 105 APARTMENTS AND 23 ASSISTED LIVING UNITS. IT ALSO HOLDS LICENSES FOR AN 82-BED SKILLED NURSING FACILITY AND A 24-BED CBRF MEMORY CARE RESIDENCE CALLED HEARTHSTONE. PRAIRIE VILLAGE IS AN INDEPENDENT PATIO HOME COMMUNITY FOR THOSE 55 AND OLDER LOCATED ONE MILE FROM THE MAIN CAMPUS. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, 65 DUPLEX UNITS WERE IN USE.


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Board, Officers & Key Employees

Name (title)Compensation
James Caldwell
Chairman Of Board
$0
Dr Fred Wileman
Vice President
$0
Gary Kincaid
Secretary/treasurer
$0
Ann Herdendorf
Director
$0
Dr Richard Haney
Director
$0
Marleen Lippert
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Prime Time Healthcare Llc
Healthcare Worker Agency
$263,869
Cliftonlarsonallen
Auditing/financial Planning & Advising
$210,589
Bk Property Management Llc
Property Management
$189,380
Eua
Architectural/construction Administratio
$141,420
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $2,172,685
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$2,172,685
Total Program Service Revenue$6,964,102
Investment income $353
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $11,215
Net Gain/Loss on Asset Sales $401,168
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,371,764

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