Prince Of Peace Senior Apartments Inc
- Assets
- $5.4m
- Revenue
- $746.6k
- Investments
- $0.0
- Employees
- 11
- Location
- Hutchinson, MN
- Founding
- 05/1994
- Data as of
- 12/2022
- EIN
- 41-1767063
Organization Overview
Prince Of Peace Senior Apartments Inc is located in Hutchinson, MN. The organization was established in 1994. 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. As of 12/2022, Prince Of Peace Senior Apartments Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prince Of Peace Senior Apartments 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 12/2022, Prince Of Peace Senior Apartments Inc generated $746.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $677.9k during the year ending 12/2022. While expenses have increased by 5.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE INDEPENDENT SENIOR HOUSING DESIGNED TO CREATE A DIGNIFIED LIFESTYLE WITHIN A SENIOR COMMUNITY. PROVIDE CONVENIENCES AND SERVICES THAT ENHANCE THE QUALITY OF LIFE AND SOCIAL INVOLVEMENT OF EACH COMMUNITY MEMBER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRINCE OF PEACE SENIOR LIVING IS A NON-PROFIT ORGANIZATION COMMITTED TO PROVIDING SENIOR CHRISTIAN HOUSING AT MARKET RATE. THIS YEAR POPRL FINISHED WITH 100% OCCUPANCY WITH 23 PEOPLE ON THE WAITING LIST. THE ORGANIZATION CONTINUES TO MAKE BUILDING UPDATES AND FUNDRAISE. OUR GOAL IS TO FUNDRAISE AND GRANT WRITE IN ORDER TO SUPPLEMENT OUR BUDGET FOR "EXTRAS" WITHOUT TAKING AWAY FROM THE OPERATING BUDGET. THE CORONAVIRUS HAD A MINIMAL IMPACT ON SERVICES THIS YEAR. THE KITCHEN/HOUSEKEEPING STAFF CONTINUED WITH ADDITIONAL HOUSEKEEPING PRACTICES TO KEEP AREAS SANITARY AND SAFE. THE RESIDENT SERVICES STAFF MEMBER HAS BEEN ABLE TO BRING BACK ALL OF OUR ACTIVITIES AND ENTERTAINMENT WITH ADDITIONAL OPTIONS AND ENTERTAINMENT SAFELY WHILE ALSO TAKING EXTRA CLEANING PRECAUTIONS. THE FOOD PROGRAM (OPTIONAL NOON MEAL)CONTINUES TO SERVE A FULL MEAL 7 DAYS A WEEK. WE HAVE BEEN ABLE TO SERVE ALL OF OUR MEALS IN THE DINING ROOM AND ONLY DELIVERING TO THOSE WHO ARE ILL. THE "SWEET SHOPPE" THAT OFFERS BREAKFAST ITEMS AT A NOMINAL FEE (ALA CARTE) OPENED BACK UP COMPLETELY BEING A CHARGE ONLY OPTION TO PREVENT ANY HANDLING OF CASH. OTHER SERVICES ALA CARTE (GENERAL HOUSEKEEPING AND LINEN SERVICE) SAW NO INCREASE LAST YEAR AND ARE STILL NOT USED BY THE MAJORITY. THE ORGANIZATION HAS A CONTINUED PARTNERSHIP WITH ADARA HOME HEALTH CARE IN ORDER TO OFFER THE RESIDENT'S HEALTH RELATED SERVICES. RESIDENTS WHO NEED HEALTH SERVICES CONTRACT SEPARATELY THROUGH THEM. WE COMPLETED MOST OF OUR MODERNIZATION PLAN WHICH INCLUDED NEW CARPET, PAINT, AND LIGHTING TO THE REMAINING AREAS OF THE ORIGINAL BUILDING IN ORDER TO CREATE AN UNNOTICED TRANSITION BETWEEN THE ORIGINAL PORTION TO THE EXPANSION. SEVEN PORCH LIGHTS AND THREE SECOND- FLOOR LIGHTS REMAIN TO BE COMPLETED DUE TO AVAILABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Havemeier Chairman | OfficerTrustee | 2.3 | $0 |
Jon Carrigan Director | OfficerTrustee | 2.3 | $0 |
Cindy Mons Secretary | OfficerTrustee | 2.3 | $0 |
Daniel Mahon Vice Chair | OfficerTrustee | 2.3 | $0 |
Renee Bryan Director | Trustee | 2.3 | $0 |
Scott Haag Director | Trustee | 2.3 | $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 | $3,108 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,108 |
| Total Program Service Revenue | $742,711 |
| Investment income | $748 |
| 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 | $746,567 |
| 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 | $172,644 |
| Pension plan accruals and contributions | $4,700 |
| Other employee benefits | $1,848 |
| Payroll taxes | $15,269 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,099 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,696 |
| Office expenses | $16,950 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $134,405 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $114,380 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,599 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $677,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $306,609 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,661 |
| 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 | $5,048,275 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $44,757 |
| Other assets | $0 |
| Total assets | $5,412,592 |
| Accounts payable and accrued expenses | $34,239 |
| 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 | $3,226,098 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $50,972 |
| Total liabilities | $3,311,309 |
| Net assets without donor restrictions | $2,099,555 |
| Net assets with donor restrictions | $1,728 |
| 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 | $5,412,592 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Prince Of Peace Senior Apartments Inc has recieved totaling $51.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $51 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eventide Moorhead, MN | $123,722,101 | $65,835,602 |
Tarrant County Senior Living Center Inc West Des Moines, IA | $161,252,746 | $23,022,366 |
Barton Creek Senior Living Center Inc West Des Moines, IA | $120,925,043 | $23,689,068 |
Presbyterian Homes And Services Roseville, MN | $66,716,638 | $30,662,544 |
Good Shepherd Lutheran Home Of Sauk Rapids Minnesota Sauk Rapids, MN | $33,093,333 | $25,176,810 |
4000 Valley Square Inc Dba Woodside Vill Wheatland Terr Grand Forks, ND | $30,848,608 | $21,519,698 |
Augustana Health Care Center Of Apple Valley Edina, MN | $23,811,041 | $22,017,190 |
Minnesota Odd Fellows Home Inc Northfield, MN | $22,867,310 | $19,456,798 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |
Volunteers Of America Inc Eden Prairie, MN | $8,598,450 | $19,135,120 |
Friends Of Faith Retirement Homes Inc Waterloo, IA | $88,184,689 | $24,765,907 |
Bethany On 42nd Fargo, ND | $42,982,371 | $19,570,716 |