Heartwood Heights
- Assets
- $1.9m
- Revenue
- $803.7k
- Investments
- $229.1k
- Employees
- 0
- Location
- Sibley, IA
- Founding
- 06/2000
- Data as of
- 06/2022
- EIN
- 42-1495686
Organization Overview
Heartwood Heights is located in Sibley, IA. The organization was established in 2000. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heartwood Heights 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 06/2022, Heartwood Heights generated $803.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $819.0k during the year ending 06/2022. While expenses have increased by 12.0% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A 22-UNIT SENIOR HOUSING PROJECT FOR THE ELDERLY OF SIBLEY, IOWA AND SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Osterman President Until 11/21 | 1 | $0 | |
Suellen Schutte VP / President Beg 11/21 | 1 | $0 | |
Mary Wagenaar Treasurer | 1 | $0 | |
Rosalie Arends Secretary | 1 | $0 | |
Holly Wilson Board Member | 1 | $0 | |
Ben Davis CEO | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $185 |
| Capital Gain Net Income | $185 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $803,484 |
| Total Revenue | $803,669 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $314,668 |
| Pension plans, employee benefits | $9,664 |
| Interest | $17,597 |
| Taxes | $66,317 |
| Depreciation | $97,124 |
| Occupancy | $41,041 |
| Travel, conferences, and meetings | $877 |
| Printing and publications | $0 |
| Other expenses | $268,700 |
| Total operating and administrative expenses | $818,988 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $818,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $379,019 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $7,346 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,827 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $229,086 |
| Net Land, buildings, and equipment | $1,311,847 |
| Other assets | $0 |
| Total assets | $1,931,125 |
| Accounts payable and accrued expenses | $102,817 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $354,474 |
| Other liabilities | $87,203 |
| Total liabilities | $544,494 |