Dow Rummel Village
- Assets
- $77.0m
- Revenue
- $21.9m
- Investments
- $0.0
- Employees
- 381
- Location
- Sioux Falls, SD
- Founding
- 05/1968
- Data as of
- 04/2021
- EIN
- 46-0271277
Organization Overview
Dow Rummel Village is located in Sioux Falls, SD. The organization was established in 1968. 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. As of 04/2023, Dow Rummel Village employed 381 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dow Rummel Village 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 04/2021, Dow Rummel Village generated $21.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $22.0m during the year ending 04/2021. While expenses have increased by 8.5% per year over the past 7 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
TO PROVIDE TRANSITIONAL RETIREMENT LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOW RUMMEL VILLAGE IS A NON-DENOMINATIONAL, NONPROFIT ORGANIZATION OPERATING A CONTINUING CARE RETIREMENT COMMUNITY WHICH CONSISTS OF 114 INDEPENDENT LIVING APARTMENTS, 34 ASSISTED LIVING APARTMENTS, 30 ENHANCED ASSISTED LIVING, 31 FLEX APARTMENTS SET UP FOR RESIDENTS TO AGE-IN-PLACE (ASSISTED LIVING AND INDEPENDENT LIVING COMMINGLED APARTMENTS), A 30-BED MEMORY CARE CENTER, AND A 50-BED HEALTH CARE CENTER IN SIOUX FALLS, SD. THE APPROXIMATE NUMBER OF RESIDENTS SERVED FROM MAY 1, 2022 TO APRIL 30, 2023 WAS 457. TO FULFILL ITS MISSION OF COMMUNITY SERVICE, DOW RUMMEL PROVIDES ACCOMMODATIONS AND SERVICES WITHOUT CHARGE OR AT AMOUNTS LESS THAN ITS ESTABLISHED RATES TO RESIDENTS WHO MEET CERTAIN CRITERIA. DOW RUMMEL MAINTAINS RECORDS TO IDENTIFY AND MONITOR THE LEVEL OF CHARITY CARE IT PROVIDES. THESE RECORDS INCLUDE THE AMOUNT OF CHARGES FOREGONE FOR ACCOMMODATIONS AND SERVICES FURNISHED UNDER ITS CHARITY CARE POLICY AND EQUIVALENT SERVICE STATISTICS. THE AMOUNTS NOT REPORTED AS REVENUE, BASED ON ESTABLISHED RATES, WERE $189,900 FOR THE YEAR ENDED APRIL 30, 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Lenker Treasurer | OfficerTrustee | 2 | $0 |
Charisse Oland Chairperson | OfficerTrustee | 4 | $0 |
Jason Herrboldt Vice Chairperson | OfficerTrustee | 2 | $0 |
Margaret Carmody Secretary | OfficerTrustee | 2 | $0 |
Dick Corcoran Trustee | Trustee | 2 | $0 |
Andrew Hewitt Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Interim Healthcare Temp Agency | 4/29/23 | $560,901 |
Midwest Health Solutions Temp Agency | 4/29/23 | $230,230 |
Goodcare Llc Therapy Services | 4/29/23 | $442,238 |
Tri-state Security Security Company | 4/29/23 | $112,565 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,480,008 |
| Investment income | $269,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$5,503 |
| Net Gain/Loss on Asset Sales | $788,930 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$19,967 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,869,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $192,784 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $374,073 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,711,708 |
| Pension plan accruals and contributions | $67,492 |
| Other employee benefits | $1,050,824 |
| Payroll taxes | $664,400 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $24,921 |
| Fees for services: Investment Management | $62,001 |
| Fees for services: Other | $2,226,362 |
| Advertising and promotion | $107,955 |
| Office expenses | $872,376 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $955,048 |
| Travel | $13,093 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $133,519 |
| Interest | $2,473,450 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,572,579 |
| Insurance | $410,720 |
| All other expenses | $0 |
| Total functional expenses | $22,043,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,457,945 |
| Pledges and grants receivable | $167,429 |
| Accounts receivable, net | $1,363,486 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,759 |
| Prepaid expenses and deferred charges | $232,920 |
| Investments—publicly traded securities | $24,761,076 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $546,862 |
| Total assets | $76,963,129 |
| Accounts payable and accrued expenses | $3,210,985 |
| Grants payable | $0 |
| Deferred revenue | $1,534,155 |
| Tax-exempt bond liabilities | $49,365,280 |
| Escrow or custodial account liability | $3,698 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $321,195 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,557,286 |
| Total liabilities | $62,992,599 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $13,970,530 |