Prospect Congregate Housing Inc
- Assets
- $8.0m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 85
- Location
- Milwaukee, WI
- Founding
- 10/1991
- Data as of
- 06/2021
- 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 06/2021, Ovation Chai Point Senior Living employed 85 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 06/2021, Ovation Chai Point Senior Living generated $4.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $5.2m during the year ending 06/2021. While expenses have increased by 2.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SENIOR HOUSING AND SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FOR THE ELDERLY WHO REQUIRE ASSISTANCE IN THEIR DAILY LIVING IN A NON-INSTITUTIONAL SETTING. THE COMPLEX ALSO CONTAINS INDEPENDENT LIVING UNITS. THERE WERE 94 AVAILABLE WITH 66 PEOPLE SERVED.
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 |
|---|---|---|---|
Patricia Cohn Executive Director | 40 | $103,459 | |
Cheryl Buckman Clinical Director | 40 | $102,191 | |
Michelle Putz COO | Officer | 10 | $53,970 |
Michael Sattell President | Officer | 6 | $51,817 |
Howard Loeb Chairman | Officer | 1 | $0 |
Marlene Deutsch Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Otis Elevator Company Inc Elevator Upgrade | 6/29/16 | $413,963 |
Stier Contruction Inc Elevator Upgrade | 6/29/16 | $520,863 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $262,500 |
| Government grants | $571,982 |
| 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 | $834,482 |
| Total Program Service Revenue | $3,272,848 |
| Investment income | $0 |
| 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 | $4,468,530 |
| 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 | $1,784,450 |
| Pension plan accruals and contributions | $38,515 |
| Other employee benefits | $224,166 |
| Payroll taxes | $142,546 |
| Fees for services: Management | $589,633 |
| Fees for services: Legal | $2,646 |
| Fees for services: Accounting | $12,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $462,689 |
| Advertising and promotion | $26,434 |
| Office expenses | $17,919 |
| Information technology | $444 |
| Royalties | $0 |
| Occupancy | $401,717 |
| Travel | $5,316 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,519 |
| Interest | $117,929 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $799,226 |
| Insurance | $28,857 |
| All other expenses | $137,144 |
| Total functional expenses | $5,215,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,131 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $77,713 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $100 |
| Inventories for sale or use | $32,746 |
| Prepaid expenses and deferred charges | $36,067 |
| Net Land, buildings, and equipment | $7,009,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $768,993 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,988,467 |
| Accounts payable and accrued expenses | $268,555 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,278,094 |
| Total liabilities | $11,546,649 |
| Net assets without donor restrictions | -$4,327,175 |
| Net assets with donor restrictions | $768,993 |
| 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 | $7,988,467 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Prospect Congregate Housing Inc has recieved totaling $262,500.
| Awarding Organization | Amount |
|---|---|
Jewish Home And Care Center Foundation Inc Milwaukee, WI PURPOSE: SUPPORT THE MISSION OF PROSPECT CONGREGATE HOUSING | $262,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Martin Health Center Inc Cedar Falls, IA | $21,811,733 | $19,618,814 |
Wayzata Bay Senior Housing Inc Roseville, MN | $167,500,836 | $19,706,381 |
Evergreen Retirement Community Inc Oshkosh, WI | $46,606,171 | $19,424,837 |
Central Baptist Home For The Aged Norridge, IL | $67,571,437 | $21,182,649 |
Good Samaritan Home Of Quincy Quincy, IL | $32,676,656 | $19,097,575 |
Samaritan Bethany Inc Rochester, MN | $35,223,208 | $19,680,043 |
Meth-Wick Community Cedar Rapids, IA | $36,346,966 | $18,595,855 |
Covenant Home Illinois Northbrook, IL | $166,475,205 | $19,986,763 |
Trinity Continuing Care Services Indiana Inc Farmington Hills, MI | $52,731,208 | $17,209,435 |
National Regency Of New Berlin Inc Waukesha, WI | $86,663,062 | $22,744,925 |
Francis House Inc Galesburg, IL | $146,726,305 | $35,225,413 |