Goodman Family Operating Foundation
- Assets
- $332.0m
- Revenue
- $28.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Chaska, MN
- Founding
- 06/2018
- Data as of
- 12/2023
- EIN
- 61-1816821
Organization Overview
Goodman Family Operating Foundation is located in Chaska, MN. The organization was established in 2018. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goodman Family Operating Foundation 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, Goodman Family Operating Foundation generated $28.2m in total revenue. All expenses for the organization totaled $33.9m during the year ending 12/2023. While expenses have increased by 96.8% 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.
Since 2021, Goodman Family Operating Foundation has awarded 43 individual grants totaling $385,666. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS THE SOLE MEMBER OF RIDGES AT PEORIA, LLC, WHICH CONSISTS OF A 107-UNIT INDEPENDENT AND ASSISTED LIVING FACILITY KNOWN AS ARBOR RIDGE, A 244-UNIT INDEPENDENT AND ASSISTED LIVING FACILITY KNOWN AS GARDEN RIDGE, AND AN 80-UNIT MEMORY CARE FACILITY KNOWN AS SENITA RIDGE, ALL LOCATED IN PEORIA, ARIZONA.
THE FOUNDATION IS THE SOLE MEMBER OF EMERALD SPRINGS OF YUMA, LLC, WHICH CONSISTS OF A 147-UNIT INDEPENDENT AND ASSISTED LIVING FACILITY LOCATED IN YUMA, ARIZONA.
THE FOUNDATION IS THE SOLE MEMBER OF HAMILTON SKILLED, LLC AND DISCOVERY CARE CENTRE, LLC. IN NOVEMBER 2021, HAMILTON SKILLED, LLC ACQUIRED A FACILITY CURRENTLY CONTAINING 58 SKILLED NURSING BEDS, 35 ASSISTED LIVING UNITS, AND A FIVE-PERSON ADULT DAY CARE FACILITY LOCATED IN HAMILTON, MONTANA. HAMILTON SKILLED, LLC OWNS THE PROPERTY WHICH IS LEASED TO AND OPERATED BY DISCOVERY CARE CENTRE, LLC.
THE FOUNDATION IS THE SOLE MEMBER OF LAKE LORRAINE, LLC. IN AUGUST 2023, LAKE LORRAINE, LLC ACQUIRED A FACILITY CONSISTING OF 151 INDEPENDENT LIVING FACILITIES, 65 ASSISTED LIVING UNITS, AND 30 MEMORY CARE UNITS. THE FACILITY IS LOCATED IN SIOUX FALLS, SOUTH DAKOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolin Goodman Executive Director | 3 | $0 | |
Shane Goodman Board/chairmen/director | 3 | $0 | |
Mark Wilson Director/president | 0.5 | $0 | |
T Jay Salmen Vp/secretary/director | 0.5 | $0 | |
Clint Knacke Director/treasurer | 2.5 | $0 | |
Craig Edinger Director | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Goodman Group | 12/30/23 | $2,374,243 |
John B Goodman Limited Partnership | 12/30/23 | $1,198,159 |
Bram Flooring Llc | 12/30/23 | $403,740 |
Platinum Career Solutions Of Montana | 12/30/23 | $293,925 |
Joe Benchea - Silver Star Heating A | 12/30/23 | $228,165 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $827,304 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$810,448 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,232,406 |
| Total Revenue | $28,249,262 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $14,160,104 |
| Pension plans, employee benefits | $1,440,594 |
| Interest | $2,144,330 |
| Taxes | $1,077,857 |
| Depreciation | $3,299,948 |
| Occupancy | $1,694,055 |
| Travel, conferences, and meetings | $193,847 |
| Printing and publications | $0 |
| Other expenses | $6,217,059 |
| Total operating and administrative expenses | $33,703,049 |
| Contributions, gifts, grants paid | $204,333 |
| Total expenses and disbursements | $33,907,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,195,916 |
| Savings and temporary cash investments | $4,237,074 |
| Net Accounts receivable | $9,757,552 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $192,168,348 |
| Inventories for sale or use | $191,922 |
| Prepaid expenses and deferred charges | $581,485 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $112,093,409 |
| Other assets | $6,726,209 |
| Total assets | $331,951,915 |
| Accounts payable and accrued expenses | $3,903,449 |
| Grants payable | $0 |
| Deferred revenue | $171,962 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $68,240,724 |
| Other liabilities | $0 |
| Total liabilities | $72,316,135 |
Grants Awarded
Over the last fiscal year, Goodman Family Operating Foundation has awarded $204,333 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
GROVES ACADEMY PURPOSE: AN EDUCATIONAL ECOSYSTMEN THAT EMPOWERS EACH AND EVERY UNIQUE LEARNER TO DISCOVER THEIR BRILLANCE. | $2,500 |
ROCK STEADY BOXING INC PURPOSE: TO SUPPORT THE COACH CONFERENCE THAT PROVIDES TRAINING AND HANDS-ON TECHNIQUES TO HELP FACILITATORS TRAIN THEIR CLIENTS AND PROVIDES PLANS THAT WILL HELP GROW THE ROCK STEADY BOXING PROGRAM | $6,000 |
CHILDRENS HEALTH CARE FOUNDATION PURPOSE: CHAMPION THE HEALTH NEEDS OF CHILDREN AND FAMILIES. | $10,000 |
CHILDRENS CANCER RESEARCH PURPOSE: SUPPORT RESEARCH ACROSS THE COUNTRY WHICH MAKES THE GREATEST IMPACT ON CHILDREN FIGHTING CANCER. FUND RESOURCES AND PROGRAMS THAT HELP KIDS AND FAMILIES AS THEY NAVIGTE THE CANCER TREATMENT AND SURVIVORSHIP. | $15,000 |
100 CLUB PURPOSE: EVOLVED TO PROVIDE ASSISTANCE, INCLUDING IMMEDIATE FINANCIAL AID, EDUCATIONS, AND ONGOING SUPPORT FOR ALL PUBLIC SAFETY MEMBERS AND THEIR FAMILIES. | $5,000 |
AMERICAN CANCER SOCIETY PURPOSE: SUPPORTS RESEARCH, CANCER EDUCATION, CANCER PREVENTION, AND DISEASE NAVIGATION. | $7,500 |