Saint Therese Of New Hope
- Assets
- $29.5m
- Revenue
- $33.2m
- Investments
- $576.8k
- Employees
- 451
- Location
- St Louis Park, MN
- Founding
- 08/1967
- Data as of
- 06/2022
- EIN
- 41-0888641
Organization Overview
Saint Therese Of New Hope is located in St Louis Park, MN. The organization was established in 1967. 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, Saint Therese Of New Hope employed 451 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saint Therese Of New Hope 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, Saint Therese Of New Hope generated $33.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $29.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING AND NURSING CARE TO THE ELDERLY.
Describe the Organization's Program Activity:
SAINT THERESE OF NEW HOPE, ESTABLISHED IN 1968, IS THE VERY FIRST OF OUR SPECIALIZED, INNOVATIVE COMMUNITIES WHERE WE'VE HAVE MAINTAINED A TRADITION OF EXCELLENCE WITH SPACIOUS LIVING ENVIRONMENTS, BROAD ACTIVITY CALENDARS AND PERSONALIZED CARE. HERE, YOU'LL ENJOY 11.34 ACRES OF MANICURED GARDENS AND WALKING PATHS, FRESH COFFEE IN OUR CAFE ROSE AND A ROBUST PASTORAL CARE PROGRAM WITH TWO CHAPELS. AT SAINT THERESE OF NEW HOPE, YOU'LL FIND A WARM, COMFORTABLE HOME, EXCEPTIONAL AMENITIES AND WHATEVER LEVEL OF SUPPORT YOU NEED, WHENEVER YOU NEED IT.
SAINT THERESE OF NEW HOPE IS A DELIGHTFUL, WELCOMING SENIOR COMMUNITY OFFERING A FULL CONTINUUM OF CARE. OUR SPACIOUS APARTMENTS ARE IDEAL FOR SENIOR LIVING, WHILE OUR ON-SITE CARE CENTER PROVIDES SKILLED NURSING SUPPORT IN A THOUGHTFUL, COMPASSIONATE ENVIRONMENT. SAINT THERESE OF NEW HOPE HAS 220 APARTMENTS ALONG WITH:LONG-TERM CARE - 115 BEDSTRANSITIONAL CARE - 53 BEDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Krenn Chair | OfficerTrustee | 1 | $0 |
Lynn Choromanski PHD Vice Chair | OfficerTrustee | 1 | $0 |
Craig Leiter Secretary | OfficerTrustee | 1 | $0 |
Rita Degnan Treasurer | OfficerTrustee | 1 | $0 |
Ann Leukam Director | Trustee | 1 | $0 |
Paul Vogel Vice Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zellner Senior Care Consulting Consulting Services | 6/29/19 | $221,968 |
Compudyne Inc It Services-network | 6/29/19 | $201,691 |
Ultimate Software Group Inc Payroll Service | 6/29/19 | $268,255 |
Vcpi It Services-network | 6/29/19 | $121,228 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $55,460 |
| Government grants | $5,459,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $80,075 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,594,723 |
| Total Program Service Revenue | $25,959,695 |
| Investment income | $419,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $212,452 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,211,501 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,935 |
| Grants and other assistance to domestic individuals. | $8,884 |
| 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 | $15,619,072 |
| Pension plan accruals and contributions | $289,977 |
| Other employee benefits | $1,270,545 |
| Payroll taxes | $893,430 |
| Fees for services: Management | $1,919,347 |
| Fees for services: Legal | $36,164 |
| Fees for services: Accounting | $19,134 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,522 |
| Fees for services: Other | $1,079,205 |
| Advertising and promotion | $11,530 |
| Office expenses | $323,680 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,313,450 |
| Travel | $6,137 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,506 |
| Interest | $186,024 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,181,149 |
| Insurance | $374,075 |
| All other expenses | $355,076 |
| Total functional expenses | $29,551,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,400 |
| Savings and temporary cash investments | $662,919 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,903,725 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $88,346 |
| Prepaid expenses and deferred charges | $258,268 |
| Net Land, buildings, and equipment | $7,422,252 |
| Investments—publicly traded securities | $17,091,771 |
| Investments—other securities | $576,835 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $480,799 |
| Total assets | $29,503,315 |
| Accounts payable and accrued expenses | $2,508,446 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $2,726,204 |
| Escrow or custodial account liability | $57,406 |
| 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 | $2,202,337 |
| Total liabilities | $7,494,393 |
| Net assets without donor restrictions | $21,598,207 |
| Net assets with donor restrictions | $410,715 |
| 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 | $29,503,315 |