Bethany Homes Inc
- Assets
- $7.8m
- Revenue
- $230.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 09/1987
- Data as of
- 12/2023
- EIN
- 45-0394181
Organization Overview
Bethany Homes Inc, operating under the name Bethany Retirement Living, is located in Fargo, ND. The organization was established in 1987. 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. Bethany Retirement Living 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, Bethany Retirement Living generated $230.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $142.1k 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
FUNDRAISING
Describe the Organization's Program Activity:
Part 3 - Line 4a
BETHANY HOMES, INC., DBA BETHANY RETIREMENT LIVING, IS THE PARENT CORPORATION OF THE FOLLOWING NONPROFIT ORGANIZATIONS: AMERICAN LUTHERAN HOMES, INC. (SKILLED NURSING, TRANSITIONAL CARE, BASIC CARE AND ASSISTED LIVING 294 RESIDENTS) BETHANY ON 42ND (SKILLED NURSING, ASSISTED LIVING, AND SENIOR HOUSING 214 RESIDENTS) BETHANY HOME HEALTH CARE (PERSONAL HEALTH CARE SERVICES 64 CLIENTS PER MONTH)DURING 2023, BETHANY SOLICITED DONATIONS TO SUPPORT THESE SUBSIDIARY CONTINUED ON SCHEDULE O...PROGRAMS. BETHANY HOMES, INC. ALSO PROVIDED FUNDS TO SUPPORT CHAPLAINCY SERVICES IN THE ASSISTED LIVING FACILITIES.DONATIONS WERE RECEIVED TO ESTABLISH ENDOWMENT FUNDS TO SUPPORT NURSING EDUCATION FOR BETHANY EMPLOYEES. THE LORRAINE KRENELKA, CATHERINE LARSON, AND KIM MARCHELL SCHOLARSHIP PROGRAMS, HEALTH EDUCATION LOAN PROGRAM (HELP), AND BETHANY STUDENT LOAN REPAYMENT BONUS PROGRAM PROVIDE FUNDING FOR SEMINARS, WORKSHOPS, AND HIGHER EDUCATION DEGREE PROGRAMS FOR ELIGIBLE BETHANY EMPLOYEES.THE BETHANY HOMES NORTH DAKOTA TAX CREDIT ENDOWMENT FUND WAS ESTABLISHED IN 2014, A QUALIFIED ENDOWMENT UNDER SECTION 57-38-01.21 OF THE NORTH DAKOTA CENTURY CODE. THE TAX CREDIT ENDOWMENT FUND IS RESTRICTED TO PROVIDING FINANCIAL SUPPORT IN FURTHERANCE OF THE SPECIFICALLY EXPRESSED CHARITABLE PURPOSE AND MISSION OF BETHANY HOMES.BETHANY PARTNERS WITH TWO OTHER NONPROFIT ORGANIZATIONS, EVENTIDE (MOORHEAD, MN) AND KNUTE NELSON (ALEXANDRIA, MN) TO OPERATE BEK CARE (DBA ETHOS HOME CARE AND HOSPICE), A 501(C)(3) ORGANIZATION WHICH PROVIDES HOME HEALTH AND HOSPICE SERVICES TO THE FARGO-MOORHEAD AND SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlotte Rusch Chair (jan-Mar) | OfficerTrustee | 1 | $0 |
Jack Rydell Chair (apr-Dec) Vice Chair (jan-Mar) | OfficerTrustee | 1 | $0 |
Paulette Amundson Vice-Chair (apr-Dec) Treasurer (jan-Mar) | OfficerTrustee | 1 | $0 |
Lianne Rockstad Secretary (jan-Mar) | OfficerTrustee | 1 | $0 |
Bruce Davidson Secretary (apr-Dec) Trustee (jan-Mar) | OfficerTrustee | 1 | $0 |
Neal Eriksmoen Trustee | 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 | $203,894 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $203,894 |
| Total Program Service Revenue | $0 |
| Investment income | $211,295 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$174,698 |
| Net Income from Fundraising Events | -$13,766 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,899 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $230,624 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,931 |
| 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 | $76,153 |
| Pension plan accruals and contributions | $3,004 |
| Other employee benefits | $6,808 |
| Payroll taxes | $5,590 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,000 |
| Advertising and promotion | $0 |
| Office expenses | $16,743 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $105 |
| Interest | $6,989 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $142,082 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,499 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $47,949 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,878 |
| Prepaid expenses and deferred charges | $7,445 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,353,876 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $107,304 |
| Total assets | $7,783,951 |
| Accounts payable and accrued expenses | $16,233 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $62,911 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,411 |
| Total liabilities | $98,555 |
| Net assets without donor restrictions | $7,087,787 |
| Net assets with donor restrictions | $597,609 |
| 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 | $7,783,951 |