Shepherd Oak West Apartments Inc
- Assets
- $1.6m
- Revenue
- $332.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Sauk Rapids, MN
- Founding
- 05/1997
- Data as of
- 12/2023
- EIN
- 41-1870826
Organization Overview
Shepherd Oak West Apartments Inc is located in Sauk Rapids, MN. The organization was established in 1997. 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. Shepherd Oak West 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, Shepherd Oak West Apartments Inc generated $332.6k 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 $446.1k during the year ending 12/2023. 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
OWN AND OPERATE LOW INCOME APARTMENT BUILDING TO PROVIDE A HOME TO THE OLDER AND HANDICAPPED ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHEPHERD OAK APARTMENTS, INC. OWNS AND OPERATES A 42 UNIT APARTMENT COMPLEX FOR THE PURPOSE OF PROVIDING OLDER AND HANDICAPPED ADULTS WITH HOUSING FACILITIES. THE PROJECT IS OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT ALSO HAS A SECTION 8 PROJECT RENTAL ASSISTANCE CONTRACT AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, PROVIDING PAYMENTS FOR THE APARTMENTS UNITS LEASED TO ELIGIBLE LOW-INCOME, ELDERLY TENANTS PURSUANT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937. SERVICES ARE DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SECURITY, AND HAPPINESS IN LONGER LIVING THROUGH A CHRISTIAN PERSPECTIVE. SHEPHERD OAK APARTMENTS, INC. IS A PART OF A 30 ACRE SENIOR LIVING CAMPUS IN SAUK RAPIDS, MINNESOTA WHICH INCLUDES SKILLED NURSING FACILITY CARE, SUB-ACUTE/SHORT TERM REHABILITATION SERVICES, CONGREGATE DINING, SKILLED HOME CARE SERVICES, ASSISTED LIVING SERVICES, MEMORY CARE SERVICES, AND INDEPENDENT LIVING APARTMENTS. MOST OF THE BUILDINGS ARE CONNECTED THROUGH ENCLOSED LINKS ALLOWING TENANTS TO FREELY MOVE BETWEEN BUILDINGS TO MEET FRIENDS OR ENJOY A WALK INSIDE AVOIDING HARSH MINNESOTA WINTER CONDITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Mahnke Board Chair | OfficerTrustee | 0.5 | $0 |
Joyce Hawkinson Secretary/tresurer | OfficerTrustee | 0.5 | $0 |
Lois Perleberg Vice Chair | OfficerTrustee | 0.5 | $0 |
Cheryl Scapanski Board Member | Trustee | 0.5 | $0 |
Terry Kurash Board Member | Trustee | 0.5 | $0 |
Dennis Bacon Board Member | Trustee | 0.5 | $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 | $321,380 |
| Investment income | $3,635 |
| 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 | $332,624 |
| 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 | $103,976 |
| Pension plan accruals and contributions | $2,368 |
| Other employee benefits | $25,341 |
| Payroll taxes | $7,328 |
| Fees for services: Management | $38,394 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,513 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,232 |
| Advertising and promotion | $932 |
| Office expenses | $13,560 |
| Information technology | $2,422 |
| Royalties | $0 |
| Occupancy | $117,908 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $509 |
| Interest | $155 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,245 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $446,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $247 |
| 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 | $5,230 |
| Net Land, buildings, and equipment | $1,412,069 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $220,272 |
| Total assets | $1,637,818 |
| Accounts payable and accrued expenses | $46,917 |
| Grants payable | $0 |
| Deferred revenue | $40 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $18,021 |
| 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 | $3,223,578 |
| Total liabilities | $3,288,556 |
| Net assets without donor restrictions | -$1,650,738 |
| 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 | $1,637,818 |