Baptist Apartments Inc
- Assets
- $9.1m
- Revenue
- $2.9m
- Investments
- $408.1k
- Employees
- 0
- Location
- Edina, MN
- Founding
- 12/1980
- Data as of
- 12/2022
- EIN
- 45-0359794
Organization Overview
Baptist Apartments Inc is located in Edina, MN. The organization was established in 1980. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Baptist 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 12/2022, Baptist Apartments Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 52.5% each year . All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 23.0% 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
THE BAPTIST APARTMENTS INC. OPERATING A 50 UNIT ASSISTED LIVING APARTMENT COMPLEX.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Dahl CEO | 0.3 | $602,456 | |
Kathy Youngquist CFO | 0.3 | $462,088 | |
Matthew Kern COO | 0.3 | $317,298 | |
Sharon M Wilson Ccco | 0.3 | $245,326 | |
Angela Brown Chro | 0.3 | $234,321 | |
Kathy Kopp Cso | 0.3 | $320,482 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,368 |
| Interest on Savings | $7,185 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,857,661 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $1,050,987 |
| Pension plans, employee benefits | $234,453 |
| Interest | $386,976 |
| Taxes | $0 |
| Depreciation | $682,170 |
| Occupancy | $68,259 |
| Travel, conferences, and meetings | $1,664 |
| Printing and publications | $0 |
| Other expenses | $407,517 |
| Total operating and administrative expenses | $2,851,411 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,851,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $874,085 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $89,250 |
| 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 | -$3,567 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,291,858 |
| Other assets | $421,756 |
| Total assets | $9,081,474 |
| Accounts payable and accrued expenses | $172,298 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $8,666,656 |
| Other liabilities | $0 |
| Total liabilities | $8,838,954 |