Alverna Apartments
- Assets
- $1.2m
- Revenue
- $604.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Little Falls, MN
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 41-1351177
Organization Overview
Alverna Apartments is located in Little Falls, MN. The organization was established in 1946. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Alverna Apartments 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, Alverna Apartments generated $604.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $468.1k during the year ending 06/2022. While expenses have increased by 2.6% per year over the past 7 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
THE ORGANIZATION'S VISION IS TO CREATE THE BEST POSSIBLE RESIDENTIAL EXPERIENCE BY IGNITING THE SPIRIT FOR SUPERIOR CARE AND SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanette Wojtalewicz Board Member/chi SVP Division Officer (partial) | Trustee | 1 | $0 |
Cary Ward Board Member/div SVP Cmo | Trustee | 1 | $0 |
Steven Smith President | OfficerTrustee | 1 | $0 |
Mark Moe MD Board Member | Trustee | 1 | $0 |
Peter Germscheid MD Board Member | Trustee | 1 | $0 |
Joshua Senger CFO (partial Year) | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $583,867 |
| Investment income | $2,359 |
| 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 | $604,676 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,326 |
| Fees for services: Accounting | $3,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,980 |
| Advertising and promotion | $2,790 |
| Office expenses | $39,199 |
| Information technology | $16,554 |
| Royalties | $0 |
| Occupancy | $97,772 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,034 |
| Interest | $16,575 |
| Payments to affiliates | $23,782 |
| Depreciation, depletion, and amortization | $71,677 |
| Insurance | $4,628 |
| All other expenses | $0 |
| Total functional expenses | $468,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150 |
| Savings and temporary cash investments | $701,708 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,212 |
| 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 | $0 |
| Net Land, buildings, and equipment | $419,699 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,794 |
| Total assets | $1,176,563 |
| Accounts payable and accrued expenses | $47,531 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $25,644 |
| 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 | $283,056 |
| Total liabilities | $356,231 |
| Net assets without donor restrictions | $820,332 |
| 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 | $1,176,563 |