Oakwood Village Prairie Ridge Homes Inc
- Assets
- $58.9m
- Revenue
- $21.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 03/2000
- Data as of
- 12/2023
- EIN
- 39-1966791
Organization Overview
Oakwood Village Prairie Ridge Homes Inc is located in Madison, WI. The organization was established in 2000. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Oakwood Village Prairie Ridge 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 Prairie Ridge Homes Inc generated $21.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $22.6m during the year ending 12/2023. While expenses have increased by 8.5% per year over the past 9 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
NURSING CARE - THIS MINISTRY CONSISTS OF A 40 BED SKILLED NURSING FACILITY PROVIDING NURSING SERVICES, THERAPY SERVICES, NUTRITION MANAGEMENT, MEDICATION MANAGEMENT, LIFE ENRICHMENT ACTIVITIES. PAYER SOURCES FOR THESE RESIDENT DAYS INCLUDED PRIVATE PAY, MEDICARE, MANAGED CARE, AND MEDICAID. SOME OF THESE PAYER SOURCES DO NOT COVER THE FULL COST OF CARE. HOUSEKEEPING, LAUNDRY, PLAN 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. DURING 2023, THERE WERE 10,850 DAYS OF CARE.
ASSISTED LIVING & DEMENTIA CARE - THIS MINISTRY IS A COMMUNITY BASED RESIDENTIAL FACILITY WITH FOUR DISTINCT PROGRAMS TOTALLING 93 UNITS. DURING 2023, THERE WERE 30,861 DAYS OF CARE. ASSISTED LIVING (OAKWOOD SEASONS AND THE RISE), MILD TO MODERATE DEMENTIA CARE (OAKWOOD KNOLL), AND DEMENTIA CARE WITH OTHER PHYSICAL IMPAIRMENTS (OAKWOOD MEADOWS). 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.
INDEPENDENT LIVING - GRASSLANDS CONSISTS OF 71 INDEPENDENT LIVING UNITS. DURING 2023, THERE WERE 25,678 DAYS OF CARE. RESIDENTS HAVE CONTINUING CARE CONTRACTS IN CONJUNCTION WITH UNIT OCCUPANCY. PRICING WAS DEVELOPED TO SERVE RESIDENTS THAT COME FROM A MODEST MIDDLE INCOME PRIMARY MARKET. SERVICES INCLUDE: DAILY CHECK INS, HOUSEKEEPING, AND MAINTENANCE. THERE IS A FULL-TIME SOCIAL WORKER, TRANSPORTATION SERVICES AND LIFE ENRICHMENT ACTIVITIES FOR ALL PHYSICAL AND MENTAL CAPABILITIES AS WELL AS A SECURE ENVIRONMENT WITH NURSING STAFF AVAILABLE AS NEEDED. RESIDENTS RECEIVE PRIORITY ACCESS TO ASSISTED LIVING, SKILLED NURSING AND THERAPY SERVICES IF NEEDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peder Moren Chair | OfficerTrustee | 2 | $0 |
Martha Jo Church Vice Chair | OfficerTrustee | 2 | $0 |
Barbara Gessner Vice Chair (through May) | OfficerTrustee | 2 | $0 |
Tom Rivers Treasurer | OfficerTrustee | 2 | $0 |
Bob Nicholson Secretary | OfficerTrustee | 2 | $0 |
Wendy Molaska Director (through May) | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,716,252 |
| Government grants | $2,112,756 |
| 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 | $3,829,008 |
| Total Program Service Revenue | $17,398,978 |
| Investment income | $179,617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$79,485 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,328,118 |
| 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 | $9,050,983 |
| Pension plan accruals and contributions | $185,555 |
| Other employee benefits | $1,770,756 |
| Payroll taxes | $695,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $148,106 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,496 |
| Fees for services: Other | $2,904,676 |
| Advertising and promotion | $210,523 |
| Office expenses | $305,725 |
| Information technology | $342,112 |
| Royalties | $0 |
| Occupancy | $1,117,263 |
| Travel | $2,998 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $447,085 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,868,525 |
| Insurance | $214,634 |
| All other expenses | $68,000 |
| Total functional expenses | $22,571,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,740 |
| Savings and temporary cash investments | $60,938 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $952,450 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $47,768 |
| Prepaid expenses and deferred charges | $158,520 |
| Net Land, buildings, and equipment | $55,555,958 |
| Investments—publicly traded securities | $1,630,281 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $491,759 |
| Total assets | $58,907,414 |
| Accounts payable and accrued expenses | $97,793 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $12,933,024 |
| 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 | $43,731,434 |
| Total liabilities | $56,762,251 |
| Net assets without donor restrictions | $1,653,404 |
| Net assets with donor restrictions | $491,759 |
| 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 | $58,907,414 |