Walker Assisted Living Corp I
- Assets
- $6.3m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Minnetonka, MN
- Founding
- 08/1995
- Data as of
- 12/2021
- EIN
- 41-1673628
Organization Overview
Walker Assisted Living Corp I, operating under the name Walker Methodist Care Suites, is located in Minnetonka, MN. The organization was established in 1995. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, 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. Walker Methodist Care Suites 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 Care Suites generated $6.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $6.2m during the year ending 12/2021. While expenses have increased by 3.3% 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 ASSISTED LIVING SERVICES FOR SENIORS IN A 72-UNIT BUILDING LOCATED IN EDINA, MN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ASSISTED LIVING SERVICES FOR SENIORS IN A 72-UNIT BUILDING LOCATED IN EDINA, MINNESOTA. RESIDENTS MAY RECEIVE HOME HEALTH SERVICES AND ANCILLARY SUPPORTIVE SERVICES, SKILLED NURSING CARE, AND HOSPICE CARE ACCORDING TO INIDIVIDUAL NEEDS. FOR INDIVIDUALS WHO NEED HIGH LEVELS OF ASSISTED LIVING, CARE SUITES ARE SPECIFICALLY DESIGNED TO PROVIDE AROUND-THE-CLOCK CONTINUOUS CARE. ADDITIONALLY, RESIDENTS ARE OFFERED OPPORTUNITIES FOR SOCIAL INTERACTION, SPIRITIUAL CARE, CREATIVE EXPRESSION, INTELLECTUAL STIMULATION, CHARITABLE GIVING, AND PET AND GARDEN THERAPY. FOR THE YEAR ENDED DECEMBER 31, 2021, THE OCCUPANCY RATE WAS 89.35%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Riddle President/ceo | OfficerTrustee | 4.2 | $0 |
Jon Tynjala Chair | OfficerTrustee | 0.02 | $0 |
Michael Finn Vice Chair | OfficerTrustee | 0.03 | $0 |
Lynn Swon Treasurer | OfficerTrustee | 0.03 | $0 |
Phil Hanson Secretary | 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 | $9,904 |
| Government grants | $836,887 |
| 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 | $846,791 |
| Total Program Service Revenue | $5,436,099 |
| Investment income | $984 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $440 |
| 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 | $235 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,359,190 |
| 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 | $3,614,533 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $406,639 |
| Payroll taxes | $266,373 |
| Fees for services: Management | $281,084 |
| 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 | $245,601 |
| Advertising and promotion | $3,316 |
| Office expenses | $111,367 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $629,126 |
| Travel | $405 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $974 |
| Interest | $533 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $297,690 |
| Insurance | $0 |
| All other expenses | $21,699 |
| Total functional expenses | $6,167,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $958,065 |
| Savings and temporary cash investments | $83,960 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $565,599 |
| 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 | $9,290 |
| Net Land, buildings, and equipment | $3,289,519 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,428,252 |
| Total assets | $6,334,685 |
| Accounts payable and accrued expenses | $739,968 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $6,855,110 |
| Escrow or custodial account liability | $54,643 |
| 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 | $200,287 |
| Total liabilities | $7,850,008 |
| Net assets without donor restrictions | -$1,572,092 |
| Net assets with donor restrictions | $56,769 |
| 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 | $6,334,685 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Walker Assisted Living Corp I has recieved totaling $9,904.
| Awarding Organization | Amount |
|---|---|
Walker Methodist Foundation Minnetonka, MN PURPOSE: GENERAL OPERATIONS | $9,904 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Energy Services Inc Madison, WI | $8,275,764 | $17,473,845 |
Walker Assisted Living Corp I Minnetonka, MN | $6,334,685 | $6,359,190 |
Project Home Inc Madison, WI | $5,333,055 | $4,173,429 |
Wisconsin Native Loan Fund Inc Lac Du Flambeau, WI | $5,661,202 | $1,436,627 |
Mazaska Owecaso Otipi Financial Inc Pine Ridge, SD | $8,605,791 | $1,745,280 |
East Central Iowa Housing Trust Fund Cedar Rapids, IA | $351,251 | $389,643 |
Steele County Transitional Housing Inc Owatonna, MN | $278,166 | $480,776 |
Webster Supportive Housing Inc St Paul, MN | $1,386,360 | $233,041 |
Chariton Valley Regional Housing Trust Fund Inc Centerville, IA | $1,328,374 | $578,135 |
East Edina Housing Foundation Edina, MN | $11,914,819 | $223,517 |
Asi Chandler Inc St Paul, MN | $1,055,723 | $168,051 |
Neighborhood Housing Services Of Davenport Inc Davenport, IA | $2,226,837 | $153,768 |