Walker Residence Inc
- Assets
- $20.3m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 857
- Location
- Minnetonka, MN
- Founding
- 03/1998
- Data as of
- 12/2022
- EIN
- 41-1443583
Organization Overview
Walker Residence Inc, operating under the name Walker Methodist Place, is located in Minnetonka, MN. The organization was established in 1998. 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 12/2022, Walker Methodist Place employed 857 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walker Methodist Place 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 12/2022, Walker Methodist Place generated $4.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $4.2m during the year ending 12/2022. 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
PROVIDING SENIOR LIVING IN A 122-UNIT CONTINUING CARE RETIREMENT COMMUNITY IN MINNEAPOLIS, MN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WALKER RESIDENCE, INC. D/B/A WALKER METHODIST PLACE, ACCOMPLISHES ITS EXEMPT PURPOSE BY PROVIDING SENIOR LIVING WITH SERVICES AS A 122-UNIT CONTINUING CARE RETIREMENT COMMUNITY IN MINNEAPOLIS, MINNESOTA. SENIOR HOUSING, HEALTH SERVICES, AND NURSING CARE ARE ALL ON ONE CAMPUS WHERE RESIDENTS CAN RECEIVE THE HEALTH CARE THEY MAY NEED TODAY OR IN THE FUTURE. ADDITIONALLY, RESIDENTS ARE OFFERED OPPORTUNITES FOR PHYSICAL ACTIVITY, SOCIAL INTERACTION, CREATIVE EXPRESSION, INTELLECTUAL ADVANCEMENT, SPIRITUAL EXPRESSION, VOLUNTEERING, AND CHARITABLE GIVING. FOR THE YEAR ENDED DECEMBER 31, 2022, WALKER METHODIST PLACE HAD AN OCCUPANCY RATE OF 74.03%.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Riddle President/ceo | OfficerTrustee | 4.2 | $0 |
Phil Hanson Chair | OfficerTrustee | 0.02 | $0 |
Michael Finn Vice Chair | OfficerTrustee | 0.03 | $0 |
Lynn Swon Treasurer | OfficerTrustee | 0.03 | $0 |
Fred Semmer Secretary | OfficerTrustee | 0.03 | $0 |
Bob Hakes Director | Trustee | 0.03 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $8,404 |
| 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 | $8,404 |
| Total Program Service Revenue | $3,728,267 |
| Investment income | $154,710 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,197 |
| Net Gain/Loss on Asset Sales | -$24,166 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $49,865 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,151,551 |
| 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 | $1,395,992 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $160,884 |
| Payroll taxes | $105,073 |
| Fees for services: Management | $200,495 |
| Fees for services: Legal | $9,659 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $352,259 |
| Advertising and promotion | $11,421 |
| Office expenses | $140,598 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $637,907 |
| Travel | $2,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,026 |
| Interest | $197,354 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $699,908 |
| Insurance | $0 |
| All other expenses | $27,682 |
| Total functional expenses | $4,175,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $655,592 |
| Savings and temporary cash investments | $805,941 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,022 |
| 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 | $11,931 |
| Net Land, buildings, and equipment | $3,898,099 |
| Investments—publicly traded securities | $2,933,509 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,982,531 |
| Total assets | $20,321,625 |
| Accounts payable and accrued expenses | $1,418,804 |
| Grants payable | $0 |
| Deferred revenue | $598,987 |
| Tax-exempt bond liabilities | $4,231,075 |
| Escrow or custodial account liability | $9,500 |
| 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 | $20,019,938 |
| Total liabilities | $26,278,304 |
| Net assets without donor restrictions | -$6,242,095 |
| Net assets with donor restrictions | $285,416 |
| 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 | $20,321,625 |