Prospect Congregate Housing Inc
- Assets
- $9.7m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 81
- Location
- Milwaukee, WI
- Founding
- 10/1991
- Data as of
- 06/2022
- EIN
- 39-1631640
Organization Overview
Prospect Congregate Housing Inc, operating under the name Ovation Chai Point Senior Living, is located in Milwaukee, WI. The organization was established in 1991. 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 06/2022, Ovation Chai Point Senior Living employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ovation Chai Point Senior Living 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 06/2022, Ovation Chai Point Senior Living generated $4.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $5.8m during the year ending 06/2022. While expenses have increased by 5.6% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SENIOR HOUSING AND SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVATION CHAI POINT OFFERS INDEPENDENT AND ASSISTED LIVING WITH OUTPATIENT SKILLED REHABILITATION SERVICES, AS WELL AS A WIDE RANGE OF SERVICES AND LIVING OPTIONS TO BEST FIT RESIDENT NEEDS AND OFFER PEACE OF MIND. OVATION CHAI POINT OFFERS STUDIO, ONE, TWO, AND THREE-BEDROOM APARTMENTS, WITH A VARIETY OF FLOOR PLANS. WHICHEVER APARTMENT CHOSEN, WHETHER INDEPENDENT OR ASSISTED, RESIDENTS RECEIVE SECURE LIVING, AND PERSONALIZED PROGRAMMING. DAILY LIFESTYLE CHOICES ARE DESIGNED FOR RESIDENT ENRICHMENT INCLUDING SOCIAL ACTIVITIES, EXERCISE CLASSES, ART, RELIGIOUS SERVICES, SEMINARS, DISCUSSIONS, LIVE MUSIC, AND INTERGENERATIONAL PROGRAMMING. ASSISTED LIVING RESIDENTS ARE PROVIDED MORNING AND EVENING WELLNESS VISITS, ACCESS TO A DEDICATED PHYSICIAN, MEDICATION MANAGEMENT AND ADMINISTRATION, DAILY BED MAKING, HOUSEKEEPING AND LINEN CHANGE SERVICES, CERTIFIED NURSING ASSISTANTS ON-SITE 24 HOURS A DAY, PERSONAL CARE SERVICES INCLUDING BATHING, DRESSING AND GROOMING, BREAKFAST, LUNCH AND DINNER AVAILABLE DAILY, AND SOCIAL SERVICES. DURING THE YEAR 95 RESIDENTS WERE SERVED WITH 20% OF THEM BEING ON FAMILY CARE OR COMMUNITY CARE.
OTHER ANCILLARY SERVICES $361,200 OF ADDITIONAL REVENUE RECEIVED FROM MEALS, AND HOUSEKEEPING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Sattell President | Officer | 10 | $90,012 |
Michelle Putz COO | Officer | 16 | $50,280 |
Patricia Cohn Executive Director | 40 | $109,650 | |
Alan Borsuk Director | Trustee | 1 | $0 |
Todd Brachman Director | Trustee | 1 | $0 |
Suzy Ettinger Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Security | 6/29/22 | $168,768 |
Zimmerman Architectural Studios Inc Architectural | 6/29/22 | $141,747 |
Nexdine Hospitality Group Dining | 6/29/22 | $186,674 |
Vjs Construction Services Inc Constuction | 6/29/22 | $745,895 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $277,769 |
| Government grants | $166,860 |
| 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 | $444,629 |
| Total Program Service Revenue | $3,397,493 |
| Investment income | $30 |
| 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 | $4,213,533 |
| 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 | $1,531,646 |
| Pension plan accruals and contributions | $28,364 |
| Other employee benefits | $264,035 |
| Payroll taxes | $108,685 |
| Fees for services: Management | $740,749 |
| Fees for services: Legal | $5,167 |
| Fees for services: Accounting | $18,431 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $987,085 |
| Advertising and promotion | $26,992 |
| Office expenses | $18,455 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $513,388 |
| Travel | $12,032 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,263 |
| Interest | $232,708 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $815,410 |
| Insurance | $39,227 |
| All other expenses | $0 |
| Total functional expenses | $5,773,969 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504,244 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $155,714 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $48,729 |
| Prepaid expenses and deferred charges | $217,372 |
| Net Land, buildings, and equipment | $8,139,509 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $678,816 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,744,384 |
| Accounts payable and accrued expenses | $746,160 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,800,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,452,157 |
| Total liabilities | $14,998,317 |
| Net assets without donor restrictions | -$5,932,749 |
| Net assets with donor restrictions | $678,816 |
| 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 | $9,744,384 |