Goodman Family Operating Foundation
- Assets
- $298.2m
- Revenue
- $15.4m
- Investments
- $5.0m
- Employees
- 0
- Location
- Chaska, MN
- Founding
- 06/2018
- Data as of
- 12/2021
- 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 12/2021, Goodman Family Operating Foundation generated $15.4m in total revenue. All expenses for the organization totaled $19.2m during the year ending 12/2021. While expenses have increased by 155.4% per year over the past 3 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
2021
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 CONTAINING 58 SKILLED NURSING BEDS, 35 ASSISTED LIVING UNITS, AND A FIVE-PERSON ADULT DAY CARE FACILITY LOCATED IN HAMILTON, MONTANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Boal Site Director | 40 | $123,761 | |
Jennifer Ammon Clinical Risk Direct | 40 | $104,306 | |
Carrie Godfrey Business Office Mana | 40 | $79,864 | |
Valerie Reynolds-Smith Director Of Nursing | 40 | $74,130 | |
Justin Smith Maintenance Director | 40 | $72,412 | |
Carolin Goodman Executive Director | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Goodman Group | 12/30/21 | $1,478,834 |
John B Goodman Limited Partnership | 12/30/21 | $639,133 |
Facelift Construbtion | 12/30/21 | $144,407 |
Bram Flooring Llc | 12/30/21 | $191,838 |
M&j Mechanical Heating & Cooling | 12/30/21 | $161,729 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,915,551 |
| Interest on Savings | $99,818 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,500 |
| Capital Gain Net Income | $3,500 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,420,286 |
| Total Revenue | $15,439,155 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $7,850,490 |
| Pension plans, employee benefits | $690,232 |
| Interest | $817,879 |
| Taxes | $625,102 |
| Depreciation | $2,464,416 |
| Occupancy | $1,329,007 |
| Travel, conferences, and meetings | $181,001 |
| Printing and publications | $0 |
| Other expenses | $3,389,540 |
| Total operating and administrative expenses | $19,142,107 |
| Contributions, gifts, grants paid | $15,000 |
| Total expenses and disbursements | $19,157,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,132,399 |
| Savings and temporary cash investments | $6,304,521 |
| Net Accounts receivable | $4,315,253 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $206,988,398 |
| Inventories for sale or use | $135,362 |
| Prepaid expenses and deferred charges | $419,738 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,969,472 |
| Net Land, buildings, and equipment | $66,930,012 |
| Other assets | $21,324 |
| Total assets | $298,216,479 |
| Accounts payable and accrued expenses | $2,027,134 |
| Grants payable | $0 |
| Deferred revenue | $108,326 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $33,600,782 |
| Other liabilities | $16,406 |
| Total liabilities | $35,752,648 |
Grants Awarded
Over the last fiscal year, Goodman Family Operating Foundation has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Long Lake, MN PURPOSE: TO MAKE CERTAIN IMPROVEMENTS THAT WILL PRESERVE THE HISTORY AND NATURAL BEAUTY OF BIG ISLAND PARK. | $7,500 |
Indianapolis, IN 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 PROGRAM. | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ghr Foundation Minneapolis, MN | $0 | $118,752,892 |
Alfred And Isabel Bader 2014 Charitable Trust Milwaukee, WI | $88,717,556 | $62,553,918 |
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Wca Foundation C/O The Minneapolis Foundation Minneapolis, MN | $0 | $1,050,329 |
Esther And Harold Mertz Foundation Sioux Falls, SD | $674,132,608 | $21,835,940 |
Larson Foundation Sioux Falls, SD | $23,259,212 | -$633,184 |
John T Vucurevich Foundation Rapid City, SD | $151,565,692 | $20,798,188 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
Pohlad Family Foundation Minneapolis, MN | $102,001,164 | $18,381,775 |
Roy J Carver Charitable Tr Muscatine, IA | $235,043,756 | $22,231,044 |
F R Bigelow Foundation Trust 555 St Paul, MN | $202,026,485 | $23,166,449 |