Walker Residence Inc
- Assets
- $19.6m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 820
- Location
- Minnetonka, MN
- Founding
- 03/1998
- Data as of
- 12/2021
- 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 12/2021, Walker Methodist Place employed 820 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 12/2021, Walker Methodist Place generated $4.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 2.5% 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
2021
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, 2021, WALKER METHODIST PLACE HAD AN OCCUPANCY RATE OF 76.72%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Riddle President/ceo | OfficerTrustee | 4.2 | $0 |
Michael Finn Vice Chair | OfficerTrustee | 0.03 | $0 |
Jon Tynjala Chair | OfficerTrustee | 0.02 | $0 |
Phil Hanson Secretary | OfficerTrustee | 0.03 | $0 |
Lynn Swon Treasurer | OfficerTrustee | 0.03 | $0 |
Russ Grundhauser CFO | Officer | 4.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $7,552 |
| Government grants | $548,015 |
| 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 | $555,567 |
| Total Program Service Revenue | $3,640,029 |
| Investment income | $178,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,642 |
| Net Gain/Loss on Asset Sales | -$5,549 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $72,670 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,692,547 |
| 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 | $1,664,613 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $156,548 |
| Payroll taxes | $120,106 |
| Fees for services: Management | $206,643 |
| Fees for services: Legal | $4,254 |
| 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 | $270,373 |
| Advertising and promotion | $30,134 |
| Office expenses | $108,694 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $620,750 |
| Travel | $1,809 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $808 |
| Interest | $209,982 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $744,036 |
| Insurance | $0 |
| All other expenses | $24,035 |
| Total functional expenses | $4,420,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $328,116 |
| Savings and temporary cash investments | $451,668 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,666 |
| 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 | $14,404 |
| Net Land, buildings, and equipment | $3,591,143 |
| Investments—publicly traded securities | $3,248,395 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,859,473 |
| Total assets | $19,584,865 |
| Accounts payable and accrued expenses | $853,524 |
| Grants payable | $0 |
| Deferred revenue | $608,129 |
| Tax-exempt bond liabilities | $4,120,882 |
| Escrow or custodial account liability | $4,500 |
| 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 | $19,568,787 |
| Total liabilities | $25,155,822 |
| Net assets without donor restrictions | -$5,855,990 |
| Net assets with donor restrictions | $285,033 |
| 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 | $19,584,865 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Walker Residence Inc has recieved totaling $7,552.
| Awarding Organization | Amount |
|---|---|
Walker Methodist Foundation Minnetonka, MN PURPOSE: GENERAL OPERATIONS | $7,552 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Martin Health Center Inc Cedar Falls, IA | $21,811,733 | $19,618,814 |
Wayzata Bay Senior Housing Inc Roseville, MN | $167,500,836 | $19,706,381 |
Evergreen Retirement Community Inc Oshkosh, WI | $46,606,171 | $19,424,837 |
Samaritan Bethany Inc Rochester, MN | $35,223,208 | $19,680,043 |
Meth-Wick Community Cedar Rapids, IA | $36,346,966 | $18,595,855 |
National Regency Of New Berlin Inc Waukesha, WI | $86,663,062 | $22,744,925 |
Jones-Harrison Residence Corporation Minneapolis, MN | $13,762,725 | $18,553,018 |
Clement Manor Inc Greenfield, WI | $19,024,939 | $15,982,774 |
Attic Angel Place Inc Middleton, WI | $40,139,262 | $17,042,390 |
Northern Arizona Senior Living Community Llc Chaska, MN | $21,150,074 | $15,348,734 |
Cottage Grove Place Cedar Rapids, IA | $58,584,060 | $13,524,184 |