Glenwood Retirement Home Foundation Inc
- Assets
- $548.6k
- Revenue
- $38.8k
- Investments
- $35.9k
- Employees
- 0
- Location
- Glenwood, MN
- Founding
- 05/1984
- Data as of
- 09/2021
- EIN
- 41-1453070
Organization Overview
Glenwood Retirement Home Foundation Inc is located in Glenwood, MN. The organization was established in 1984. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Glenwood Retirement Home Foundation 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 09/2021, Glenwood Retirement Home Foundation Inc generated $38.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $36.6k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 6 years. 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
TO SUPPORT THE PROGRAMS OF THE GLENWOOD RETIREMENT VILLAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GLENWOOD RETIREMENT HOME FOUNDATION IS THE PUBLIC RELATIONS, EDUCATION, AND FUND DEVELOPMENT ARM OF THE GLENWOOD VILLAGE CARE CENTER. ALL GIFTS TO THE FOUNDATION ARE MANAGED BY THE BOARD OF DIRECTORS AND FUNDS DISPERSED ACCORDING TO THE NEEDS AND GRANT REQUESTS OF THE OTHER RELATED ENTITIES.GRANTS MADE BY THE FOUNDATION IN THE PAST YEAR PROVIDED THE MAINTENANCE OF THE AVIARIES AT THE CARE CENTER AND PARKVIEW COURT, PROVIDED MONEY FOR RESIDENT OUTINGS AND UPKEEP OF THE RESIDENT BUS. MONEY WAS DONATED FOR EMPLOYEE APPRECIATION THAT WAS USED FOR EMPLOYEE EVENTS. FUNDS FROM THE FOUNDATION WERE USED IN THE PLAZA BUY BACK AS LOANS TO THE CARE CENTER FOR THE PURCHASE OF THE UNITS TO TURN INTO RENTAL UNITS. GRANTS ALSO PROVIDED A DONATION TO THE LOCAL MINNEWASKA FISH & CRUISE PROGRAM, AS RESIDENTS PARTICIPATE REGULARLY IN THE BOATING/FISHING EXCURSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Isdahl Chair | OfficerTrustee | 0.3 | $0 |
Douglas Bogie Vice Chair | OfficerTrustee | 0.3 | $0 |
Marion Pladson Secretary/treasurer | OfficerTrustee | 0.3 | $0 |
Trista Amble Business Manager (thru July '21) | Officer | 2 | $0 |
Mary Krueger Chief Executive Officer | Officer | 2 | $0 |
Darby Wacker Business Manager (as Of Aug. '21) | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $422 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,061 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,483 |
| Total Program Service Revenue | $0 |
| Investment income | $1,471 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,820 |
| 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 | $38,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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 | $0 |
| 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 | $754 |
| Advertising and promotion | $0 |
| Office expenses | $6,661 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,704 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,448 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $36,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,045 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,978 |
| 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 | $4,532 |
| Investments—publicly traded securities | $496,188 |
| Investments—other securities | $35,881 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $548,624 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $9,397 |
| Total liabilities | $9,397 |
| Net assets without donor restrictions | $417,952 |
| Net assets with donor restrictions | $121,275 |
| 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 | $548,624 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Glenwood Retirement Home Foundation Inc has recieved totaling $8.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $8 |
Endowment Analysis
| Beg. Balance | $35,881 |
| Earnings | $1,127 |
| Other Expense | $1,127 |
| Ending Balance | $35,881 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elim Senior Housing Edina, MN | $44,315,672 | $6,405,672 |
St Luke Homes & Services Inc Spencer, IA | $9,786,466 | $9,281,620 |
Auburn Manor Chaska, MN | $10,442,393 | $10,617,828 |
Scottish Rite Park Inc Des Moines, IA | $25,028,424 | $10,213,355 |
Williamsburg Retirement Community Inc Roseville, MN | $35,251,162 | $9,467,735 |
Oakwood Village Prairie Ridge Apartments Inc Madison, WI | $66,544,502 | $7,123,839 |
Phs Council Bluffs Inc Roseville, MN | $46,881,447 | $8,974,517 |
Phs Founders Ridge Inc Roseville, MN | $50,899,023 | $8,182,417 |
Phs Apple Valley Senior Housing Inc Roseville, MN | $71,184,418 | $8,602,960 |
Shepherds Path Senior Housing Inc Roseville, MN | $29,880,373 | $9,110,866 |
Harwood Place Inc Wauwatosa, WI | $17,919,656 | $8,540,786 |
Hudson Senior Housing Inc Roseville, MN | $44,248,151 | $8,888,684 |