Assumption Home Inc
- Assets
- $23.0m
- Revenue
- $13.6m
- Investments
- $0.0
- Employees
- 275
- Location
- Cold Spring, MN
- Founding
- 03/1946
- Data as of
- 12/2023
- EIN
- 41-0873335
Organization Overview
Assumption Home Inc is located in Cold Spring, MN. The organization was established in 1946. 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, Assumption Home Inc employed 275 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Assumption Home 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, Assumption Home Inc generated $13.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $12.9m during the year ending 12/2023. While expenses have increased by 5.5% per year over the past 8 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
PROVIDE A CONTINUUM OF HEALTH AND RESIDENTIAL SERVICES IN A CHRISTIAN ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSUMPTION HOME, INC. OPERATES AN 76-BED LONG-TERM HEALTH CARE FACILITY IN COLD SPRING, MN WHICH PROVIDES CARE TO RESIDENTS ON A DAILY BASIS. ASSUMPTION HOME IS RENOWNED FOR BEING A CHRISTIAN HEALTH CARE FACILITY THAT STRIVES TO PROVIDE LONG TERM AND REHABILITATIVE CARE FOR OLDER ADULTS. ASSUMPTION HOME IS A SINGLE STORY STRUCTURE, CONVENIENTLY LOCATED IN THE CENTER OF COLD SPRING AND IS BORDERED BY NUMEROUS PICTURESQUE SCENES INCLUDING A GARDEN, PARK, AND THE MIDDLE SCHOOL PLAYGROUND. ASSUMPTION HOME OFFERS THE OLDER ADULT AND THEIR FAMILIES NUMEROUS SERVICES AND ASPECTS OF MEDICAL CARE INCLUDING SEVERAL ROUNDING ONSITE PRIMARY PHYSICIANS, NUMEROUS CONSULTING PHYSICIANS INCLUDING AN AUDIOLOGIST AND PODIATRIST, AND A LOCAL PHARMACY TO PROVIDE MEDICATIONS. ASSUMPTION HOME IS ALSO ABLE TO COORDINATE YOUR LOVED ONE'S CARE WITH OTHER CLINICS AND MEDICAL PROFESSIONS AS NEEDED.
THE ORGANIZATION ALSO OPERATES ASSUMPTION COURT, A 59-UNIT APARTMENT COMPLEX PROVIDING CONGREGATE HOUSING AND HAS A HOUSING WITH SERVICES LICENSE THAT ENABLES ITS TENANTS TO PURCHASE ADDITIONAL PERSONAL CARE SERVICES.
THE ORGANIZATION OPERATES ASHER HAUS, A 28-UNIT MEMORY CARE ASSISTED LIVING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Matthew Luft Second Vp/ceo (jan - Jun) | OfficerTrustee | 1 | $0 |
Father Leroy Scheierl Ceo/vp (jul - Dec) | OfficerTrustee | 1 | $0 |
Larry Sell Secretary (jan - Jun) | OfficerTrustee | 1 | $0 |
Merrilee Stang Secretary (jul - Dec) | OfficerTrustee | 1 | $0 |
Mike Roth Treasurer | OfficerTrustee | 1 | $0 |
Melissa Rowe Director (jan -Jul) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grape Tree Medical Staffing Temp Nursing Staffing | 12/30/23 | $547,713 |
Pro Rehab Contracted Rehab Services | 12/30/23 | $503,126 |
Eide Bailly Llp Accounting Services | 12/30/23 | $104,045 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $265,127 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,664 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $290,791 |
| Total Program Service Revenue | $13,085,719 |
| Investment income | $219,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,228 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,597,323 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,331 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $373,850 |
| Compensation of current officers, directors, key employees. | $373,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,702,356 |
| Pension plan accruals and contributions | $83,117 |
| Other employee benefits | $369,491 |
| Payroll taxes | $529,611 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,904 |
| Fees for services: Accounting | $36,805 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,005 |
| Fees for services: Other | $1,076,113 |
| Advertising and promotion | $79,318 |
| Office expenses | $232,354 |
| Information technology | $52,765 |
| Royalties | $0 |
| Occupancy | $368,755 |
| Travel | $11,514 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,604 |
| Interest | $683,827 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $831,102 |
| Insurance | $181,302 |
| All other expenses | $96,585 |
| Total functional expenses | $12,852,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,211,762 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,326,819 |
| 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 | $83,447 |
| Net Land, buildings, and equipment | $12,379,050 |
| Investments—publicly traded securities | $3,832,055 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,169,411 |
| Total assets | $23,002,544 |
| Accounts payable and accrued expenses | $929,391 |
| Grants payable | $0 |
| Deferred revenue | $281,160 |
| Tax-exempt bond liabilities | $13,360,791 |
| Escrow or custodial account liability | $120,677 |
| 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 | $215,842 |
| Total liabilities | $14,907,861 |
| Net assets without donor restrictions | $8,094,683 |
| 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 | $23,002,544 |