Prince Of Peace Senior Apartments Inc
- Assets
- $5.4m
- Revenue
- $749.9k
- Investments
- $0.0
- Employees
- 11
- Location
- Hutchinson, MN
- Founding
- 05/1994
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Prince Of Peace Senior Apartments Inc generated $749.9k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $667.8k during the year ending 12/2023. While expenses have increased by 9.4% per year over the past 5 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
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 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 ALONG WITH ADDITIONAL OPTIONS AND ENTERTAINMENT SAFELY WHILE ALSO TAKING EXTRA CLEANING PRECAUTIONS. OUR RSS HAD A SUCCESSFUL POPCORN FUNDRAISER THAT PROVIDED FUNDING TO PURCHASE A POPCORN MACHINE, STAND, AND POPCORN FOR RESIDENTS TO ENJOY ON MOVIE DAYS. THE FOOD PROGRAM (OPTIONAL NOON MEAL)CHANGED DUE TO STAFFING SHORTAGES AND WE NOW OFFER THE NOON MEAL 5 DAYS A WEEK, MONDAY THRU FRIDAY, HOLIDAYS INCLUDED. 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) IS OPEN MONDAY THRU FRIDAY AND IS A CHARGE ONLY OPTION TO PREVENT ANY HANDLING OF CASH. OTHER SERVICES ALA CARTE (GENERAL HOUSEKEEPING AND LINEN SERVICE) SAW A SMALL 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. THE ONLY BUILDING CHANGES WERE ADDING LEAF RELIEF TO EXISTING GUTTERS ON THE SOUTH SIDE OF THE EAST EXPANSION, ADDING GUTTERS WITH LEAF RELIEF TO THE EAST SIDE OF THE SOUTH NEIGHBORHOOD AND THE STAND-ALONE GARAGES. WE HAD BEEN STRUGGLING WITH WATER BUILDUP/POOLING IN THESE AREAS ALONG WITH LEAVES CLOGGING GUTTERS AND ADDED THESE ITEMS AS A SOLUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Renee Bryan Director | Trustee | 2.3 | $0 |
Gail Gillard Director | Trustee | 2.3 | $0 |
Scott Haag Director | Trustee | 2.3 | $0 |
Gary Havemeier Chairman | OfficerTrustee | 2.3 | $0 |
Al Koglin Director | Trustee | 2.3 | $0 |
John Macemon 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 | $2,566 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,566 |
| Total Program Service Revenue | $746,493 |
| Investment income | $819 |
| 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 | $749,878 |
| 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 | $177,085 |
| Pension plan accruals and contributions | $4,193 |
| Other employee benefits | $2,920 |
| Payroll taxes | $13,870 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,283 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,469 |
| Office expenses | $17,198 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $136,904 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $112,132 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,563 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $667,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $357,595 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,663 |
| 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 | $14,570 |
| Net Land, buildings, and equipment | $4,965,989 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $42,729 |
| Other assets | $0 |
| Total assets | $5,384,546 |
| Accounts payable and accrued expenses | $28,522 |
| 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 | $3,119,899 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $52,741 |
| Total liabilities | $3,201,162 |
| Net assets without donor restrictions | $2,183,384 |
| 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 | $5,384,546 |