Oak View Apartments Inc
- Assets
- $997.9k
- Revenue
- $103.8k
- Investments
- $0.0
- Employees
- 0
- Location
- New Ulm, MN
- Founding
- 11/2001
- Data as of
- 09/2021
- EIN
- 41-1992121
Organization Overview
Oak View Apartments Inc is located in New Ulm, MN. The organization was established in 2001. 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. Oak View 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 09/2021, Oak View Apartments Inc generated $103.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $141.2k during the year ending 09/2021. While expenses have increased by 1.4% per year over the past 6 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
AFFORDABLE HOUSING FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OAK VIEW APARTMENTS IS A HUD SECTION 202 SENIOR HOUSING BUILDING WITH 16 UNITS. RESIDENTS MUST BE 62 YEARS OR OLDER WITH AN INCOME BELOW 50% OF THE COUNTY MEDIAN. OAK HILLS LIVING CENTER HAS A CONTRACT WITH BROWN COUNTY TO PROVIDE SERVICES THROUGH THE ELDERLY WAIVER OR ALTERNATIVE GRANT PROGRAMS. OAK VIEW APARTMENTS BEGAN ADMITTING RESIDENTS NOVEMBER 1, 2003. THE ORGANIZATION HAS BEEN NEARLY 100% OCCUPIED SINCE IT FIRST OPENED. ALL ACTIVITIES OF THE ORGANIZATION WILL BE DIRECTED TOWARD PROVIDING THE ELDERLY WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Vancura Vice President | OfficerTrustee | 0.5 | $0 |
Colleen Skillings Secretary | OfficerTrustee | 0.5 | $0 |
Paul Gunderson Treasurer | OfficerTrustee | 0.5 | $0 |
Chris Jensen President | OfficerTrustee | 0.5 | $0 |
Candas Schouvieller Administrator | Officer | 2 | $0 |
Adam Back Director Of Finance | Officer | 2 | $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 | $103,727 |
| Investment income | $42 |
| 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 | $103,769 |
| 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. | $38,537 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,070 |
| Payroll taxes | $3,700 |
| Fees for services: Management | $6,898 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,462 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $499 |
| Information technology | $1,588 |
| Royalties | $0 |
| Occupancy | $24,002 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,440 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $141,160 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,253 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $286 |
| 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 | $867,474 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $124,891 |
| Total assets | $997,904 |
| Accounts payable and accrued expenses | $1,230 |
| Grants payable | $0 |
| Deferred revenue | $457 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,154 |
| 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 | $49,385 |
| Total liabilities | $56,226 |
| Net assets without donor restrictions | $941,678 |
| 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 | $997,904 |
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