Cottonwood Ridge Apartments Inc
- Assets
- $445.0k
- Revenue
- $89.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, MN
- Founding
- 02/1998
- Data as of
- 09/2023
- EIN
- 41-1889334
Organization Overview
Cottonwood Ridge Apartments Inc is located in Springfield, MN. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing 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. Cottonwood Ridge 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 09/2023, Cottonwood Ridge Apartments Inc generated $89.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $130.6k during the year ending 09/2023. 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
HOUSING SERVICES FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COTTONWOOD RIDGE PROVIDES HOUSING FACILITIES AND SERVICES FOR VERY LOW INCOME ELDERLY RESIDENTS. COTTONWOOD RIDGE CONSISTS OF A 24-UNIT MULTI-FAMILY HOUSING PROJECT. THE ORGANIZATION MEETS THE EMOTIONAL, HOUSING AND PHYSICAL NEEDS OF ITS RESIDENTS. HOME CARE SERVICES ARE OFFERED TO TENANTS THROUGH ST JOHN LUTHERAN HOME, A RELATED ENTITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsey Beyer Administrator | Officer | 40 | $0 |
Pam Wendt Board Chair | OfficerTrustee | 1 | $0 |
Tricia Mattson Vice Chair | OfficerTrustee | 1 | $0 |
Karen Voge Secretary | OfficerTrustee | 1 | $0 |
Denise Weller Director | Trustee | 1 | $0 |
Bracey Lerner Director | Trustee | 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 | $87,713 |
| Investment income | $1,315 |
| 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 | $89,028 |
| 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 | $22,256 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,023 |
| Payroll taxes | $1,630 |
| Fees for services: Management | $4,215 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,319 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,059 |
| Advertising and promotion | $2,019 |
| Office expenses | $3,016 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,543 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $100 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,992 |
| Insurance | $8,919 |
| All other expenses | $109 |
| Total functional expenses | $130,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,799 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,983 |
| 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 | $0 |
| Net Land, buildings, and equipment | $280,516 |
| Investments—publicly traded securities | $122,727 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $445,025 |
| Accounts payable and accrued expenses | $170,035 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,168 |
| 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 | $0 |
| Total liabilities | $187,203 |
| Net assets without donor restrictions | $257,822 |
| 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 | $445,025 |