Presbyterian Homes
- Assets
- $466.9m
- Revenue
- $111.8m
- Investments
- $0.0
- Employees
- 1,021
- Location
- Skokie, IL
- Founding
- 12/2014
- Data as of
- 03/2024
- EIN
- 47-1545753
Organization Overview
Presbyterian Homes is located in Skokie, IL. The organization was established in 2014. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. As of 03/2024, Presbyterian Homes employed 1,021 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Presbyterian Homes 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 03/2024, Presbyterian Homes generated $111.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $98.0m during the year ending 03/2024. While expenses have increased by 18.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PRESBYTERIAN HOMES, A FAITH BASED NOT FOR PROFIT, CREATES VIBRANT COMMUNITIES FOR OLDER ADULTS THAT INSPIRE WELLNESS, INDEPENDENCE, JOY, AND SECURITY - ENRICHING THE LIVES OF RESIDENTS AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE FOREST PLACE AND THE MOORINGS OF ARLINGTON HEIGHTS ("THE MOORINGS") ARE NOT-FOR-PROFIT INDEPENDENT LIVING, LIFE PLAN COMMUNITIES (FORMERLY KNOWN AS CONTINUING CARE RETIREMENT COMMUNITIES). INDEPENDENT LIVING FACILITIES AT LAKE FOREST PLACE AND THE MOORINGS CONSIST A TOTAL OF 536 APARTMENTS, VILLAS AND COTTAGES. AVAILABLE RESIDENTIAL SERVICES INCLUDE FLEXIBLE DINING OPTIONS, HOUSEKEEPING AND COMPLETE MAINTENANCE SERVICES, TRANSPORTATION AS WELL AS PLANNED SOCIAL AND EDUCATIONAL ACTIVITIES AND PROGRAMS. TEN TWENTY GROVE IS AN INDEPENDENT LIVING FACILITY CONSISTING OF 47 APARTMENTS. DURING THE FILING YEAR, THE THREE INDEPENDENT LIVING FACILITIES SERVED A TOTAL OF 796 INDEPENDENT LIVING RESIDENTS DURING THE FILING YEAR.
REVENUE IS RELATED TO PROCEEDS FROM INSURANCE CLAIMS AND INCOME FROM OTHER PROGRAM ACTIVITIES.
ASSISTED FACILITIES AT LAKE FOREST PLACE AND THE MOORINGS CONSIST OF 144 UNITS. THE PROGRAM PROVIDES CARE TO OLDER ADULTS WHO NEED ASSISTANCE WITH PERSONAL CARE AND DAILY ACTIVITIES. BOTH FACILITIES SERVED A TOTAL OF 198 ASSISTED LIVING RESIDENTS DURING THE FILING YEAR.
LAKE FOREST PLACE AND THE MOORINGS HEALTH CARE CENTERS PROVIDE NURSING CARE FOR BOTH SHORT AND LONG TERM STAYS. RESPITE, REHABILITATION, AND PROGRAMS TO CARE FOR THOSE WITH ALZHEIMER'S DISEASE AND OTHER COGNITIVE IMPAIRMENTS ARE ALSO AVAILABLE. LAKE FOREST PLACE HEALTH CARE CENTER CONSISTS OF 50 SKILLED, MEDICARE-CERTIFIED NURSING BEDS. THE MOORINGS HEALTH CARE CENTER CONSISTS OF 57 SKILLED, MEDICARE-CERTIFIED NURSING BEDS AND 39 INTERMEDIATE AND MEMORY CARE BEDS. THE TWO HEALTH CARE CENTERS SERVED A TOTAL OF 779 RESIDENTS DURING THE FILING YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vince Kelly Director /co-Chair | OfficerTrustee | 1 | $0 |
Eric Mollman Director /co-Chair | OfficerTrustee | 1 | $0 |
Mark Wetzel Director /treasurer | OfficerTrustee | 1 | $0 |
Elinor Hite Director /secretary | OfficerTrustee | 1 | $0 |
Jim Brault Director | Trustee | 1 | $0 |
Robert Dearborn Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unidine Corporation Dining / Food Services | 3/30/24 | $4,802,530 |
Dulcigno Builders Construction | 3/30/24 | $3,254,743 |
Greenleaf Cabinets Inc Construction | 3/30/24 | $3,235,934 |
Skender Construction Llc Construction | 3/30/24 | $2,700,298 |
Healthpro Heritage Therapy Management And Consulting Svcs | 3/30/24 | $2,430,917 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,596,511 |
| 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 | $4,596,511 |
| Total Program Service Revenue | $94,452,519 |
| Investment income | $5,206,471 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,900 |
| Net Gain/Loss on Asset Sales | $1,578,247 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$30,635 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $111,758,400 |
| 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. | $2,551,743 |
| Compensation of current officers, directors, key employees. | $2,551,743 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,514,493 |
| Pension plan accruals and contributions | $1,674,538 |
| Other employee benefits | $3,918,391 |
| Payroll taxes | $2,642,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $612,814 |
| Fees for services: Accounting | $235,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $126,961 |
| Fees for services: Other | $8,723,500 |
| Advertising and promotion | $1,834,536 |
| Office expenses | $267,824 |
| Information technology | $1,467,687 |
| Royalties | $0 |
| Occupancy | $306,321 |
| Travel | $10,130 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,342,372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,716,935 |
| Insurance | $1,093,822 |
| All other expenses | $1,020,995 |
| Total functional expenses | $97,955,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,246,622 |
| Savings and temporary cash investments | $26,381,365 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,817,077 |
| 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 | $3,728,536 |
| Net Land, buildings, and equipment | $279,287,312 |
| Investments—publicly traded securities | $141,706,294 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,686,759 |
| Total assets | $466,853,965 |
| Accounts payable and accrued expenses | $17,286,661 |
| Grants payable | $0 |
| Deferred revenue | $105,108,424 |
| Tax-exempt bond liabilities | $127,848,878 |
| Escrow or custodial account liability | $0 |
| 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 | $99,097,737 |
| Total liabilities | $349,341,700 |
| Net assets without donor restrictions | $117,512,265 |
| 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 | $466,853,965 |