Gideon Pond West Inc
- Assets
- $1.9m
- Revenue
- $536.7k
- Investments
- $96.2k
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 12/1994
- Data as of
- 09/2023
- EIN
- 41-1671887
Organization Overview
Gideon Pond West Inc is located in Roseville, MN. The organization was established in 1994. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gideon Pond West 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 09/2023, Gideon Pond West Inc generated $536.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $544.8k during the year ending 09/2023. While expenses have increased by 1.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GIDEON POND WEST, INC. OPERATES A 51 UNIT LOW INCOME SENIOR APARTMENT BUILDING IN BLOOMINGTON, MINNESOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Lindh Board Chair/ceo | OfficerTrustee | 1 | $0 |
Mark Meyer Sec/treas/cfo | OfficerTrustee | 1 | $0 |
Jonathan Fletcher VP Development | 1 | $0 | |
Duane Larson Brd Vice Chair | Trustee | 1 | $0 |
Mark Pederson Brd Vice Chair | Trustee | 1 | $0 |
Teresa Larson SVP Employee Experience | 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 | $532,855 |
| Investment income | $459 |
| 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 | $536,669 |
| 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 | $125,334 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $31,971 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,492 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $165 |
| Office expenses | $14,628 |
| Information technology | $4,905 |
| Royalties | $0 |
| Occupancy | $89,216 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,119 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $92,109 |
| Insurance | $22,179 |
| All other expenses | $0 |
| Total functional expenses | $544,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $215,741 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,229 |
| 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 | $1,913 |
| Net Land, buildings, and equipment | $1,451,877 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $96,152 |
| Investments—program-related | $0 |
| Intangible assets | $31,281 |
| Other assets | $0 |
| Total assets | $1,851,193 |
| Accounts payable and accrued expenses | $123,908 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $20,310 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,952,293 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $408,634 |
| Total liabilities | $2,505,145 |
| Net assets without donor restrictions | -$653,952 |
| 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 | $1,851,193 |