Carmel Residence Inc
- Assets
- $4.1m
- Revenue
- $737.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Oshkosh, WI
- Founding
- 04/1988
- Data as of
- 12/2021
- EIN
- 39-1448325
Organization Overview
Carmel Residence Inc is located in Oshkosh, WI. The organization was established in 1988. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Carmel 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 12/2021, Carmel Residence Inc generated $737.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $818.9k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FOR AGING PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARMEL RESIDENCE, INC., PROVIDES INDEPENDENT LIVING FACILITIES FOR AGING PERSONS. THE ENTITY HAS 70 INDEPENDENT LIVING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Murken Chair | OfficerTrustee | 0.2 | $0 |
Mark Beecher Vice Chair | OfficerTrustee | 0.2 | $0 |
Kathy Bermingham Secretary | OfficerTrustee | 0.2 | $0 |
Theresa Bertram President & CEO | Officer | 4.5 | $0 |
Paula Mcniel Board Member | Trustee | 0.2 | $0 |
Laurie Muller Board Member | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $63,484 |
| Government grants | $0 |
| 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 | $63,484 |
| Total Program Service Revenue | $643,224 |
| Investment income | $4,566 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,730 |
| 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 | $737,574 |
| 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 | $234,708 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $57,504 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,513 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,118 |
| Advertising and promotion | $5,860 |
| Office expenses | $5,307 |
| Information technology | $1,782 |
| Royalties | $0 |
| Occupancy | $148,142 |
| Travel | $16 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $291,315 |
| Insurance | $12,718 |
| All other expenses | $0 |
| Total functional expenses | $818,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,032 |
| Savings and temporary cash investments | $2,024,433 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,591 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,741 |
| Net Land, buildings, and equipment | $1,960,022 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,063,819 |
| Accounts payable and accrued expenses | $4,452 |
| Grants payable | $0 |
| Deferred revenue | $686,517 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,190,166 |
| 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 | $62,631 |
| Total liabilities | $2,943,766 |
| Net assets without donor restrictions | $1,120,053 |
| 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 | $4,063,819 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carmel Residence Inc has recieved totaling $30,476.
| Awarding Organization | Amount |
|---|---|
Miravida Living Foundation Inc Oshkosh, WI PURPOSE: GENERAL SUPPORT | $30,476 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fox Run Village Inc Novi, MI | $460,113,194 | $70,545,249 |
Eventide Moorhead, MN | $123,722,101 | $65,835,602 |
Csi-Derby Street Nonprofit Housing Corporation Warren, MI | $670,695 | $62,509,360 |
Tarrant County Senior Living Center Inc West Des Moines, IA | $161,252,746 | $23,022,366 |
Barton Creek Senior Living Center Inc West Des Moines, IA | $120,925,043 | $23,689,068 |
Presbyterian Homes And Services Roseville, MN | $66,716,638 | $30,662,544 |
Washington & Jane Smith Community- Orland Park Orland Park, IL | $98,659,201 | $23,019,583 |
Clark Retirement Community Inc Grand Rapids, MI | $96,381,064 | $20,508,927 |
Good Shepherd Lutheran Home Of Sauk Rapids Minnesota Sauk Rapids, MN | $33,093,333 | $25,176,810 |
Resthaven Holland, MI | $35,879,779 | $29,087,420 |
Covenant Retirement Communities Of The Great Lakes Conference Grand Rapids, MI | $46,465,743 | $18,284,551 |
Clare Oaks Bartlett, IL | $26,201,984 | $13,279,793 |