Legacy Senior Services
- Assets
- $10.8m
- Revenue
- $16.3m
- Investments
- $0.0
- Employees
- 355
- Location
- Minnetonka, MN
- Founding
- 01/2004
- Data as of
- 12/2022
- EIN
- 80-0015864
Organization Overview
Legacy Senior Services, operating under the name Traverse Care Center, is located in Minnetonka, MN. The organization was established in 2004. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2022, Traverse Care Center employed 355 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Traverse Care Center 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 12/2022, Traverse Care Center generated $16.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.8%) each year. All expenses for the organization totaled $15.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (12.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE SKILLED NURSING FACILITIES AND SENIOR HOUSING COMMUNITIES.
Describe the Organization's Program Activity:
LEGACY SENIOR SERVICES IS A MINNESOTA CORPORATION THAT OPERATES A 49-BED SKILLED NURSING FACILITY AND A 20-UNIT INDEPENDENT LIVING FACILITY LOCATED IN WHEATON, MINNESOTA CALLED TRAVERSE CARE CENTER. TRAVERSE CARE CENTER HAD AN AVERAGE DAILY CENSUS OF 43 DURING 2022.LEGACY SENIOR SERVICES IS ORGANIZED TO OWN AND OPERATE FACILITIES WITH THE INTENT OF HOUSING ELDERLY AND OTHER VULNERABLE PERSONS AND MEETING THEIR HEALTHCARE, RESIDENTIAL, PHYSICAL AND SOCIAL NEEDS. LEGACY SENIOR SERVICES IS THE SOLE MEMBER OF FOUR OTHER LIMITED LIABILITY COMPANIES WHICH OPERATE AS SKILLED NURSING, ASSISTED LIVING, AND/OR INDEPENDENT LIVING FACILITIES AS FOLLOWS: - LSS OF MADISON, LLC, WAS SOLD DECEMBER 31, 2021 -LSS OF FRAZEE, LLC, A 74-BED SKILLED NURSING FACILITY, A 19 UNIT ASSISTED LIVING FACILITY, AND AN 8 UNIT INDEPENDENT LIVING FACILITY LOCATED IN FRAZEE, MINNESOTA AND A 15 UNIT ASSISTED LIVING FACILITY LOCATED IN VERGAS, MINNESOTA. LSS OF FRAZEE, LLC HAD AN AVERAGE DAILY CENSUS OF 73 DURING 2022. -LSS OF MARYCREST, LLC, A 138 UNIT ASSISTED LIVING FACILITY LOCATED IN DENVER, COLORADO. LSS OF MARYCREST, LLC HAD AN AVERAGE DAILY CENSUS OF 127 DURING 2022. ALL OF THE SKILLED NURSING FACILITIES ARE MEDICARE AND MEDICAID CERTIFIED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Lund President/treasurer | OfficerTrustee | 5 | $12,000 |
Roger Green Secretary | OfficerTrustee | 5 | $4,800 |
Robert Beck Director | Trustee | 5 | $4,800 |
Joel Jensen Director | Trustee | 5 | $4,800 |
Nadine Paitich Director (may-Dec) | Trustee | 5 | $2,800 |
Dylan Hanson Administrator - Traverse Care Center | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pro Rehab Therapy Services, Ot, Pt, St | 12/30/22 | $238,848 |
Health Dimensions Consulting Group Management Services | 12/30/22 | $2,607,553 |
Asap Medical Staffing Llc Nurse Staffing Agency | 12/30/22 | $353,536 |
Big Stone Therapies Therapy Services, Ot, Pt, St | 12/30/22 | $237,918 |
Bsg Maintenance Inc Housekeeping And Laundry Services | 12/30/22 | $185,302 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,355,586 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,765 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,361,351 |
| Total Program Service Revenue | $14,926,223 |
| Investment income | $711 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,303,160 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,070 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $29,200 |
| Compensation of current officers, directors, key employees. | $29,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,464,852 |
| Pension plan accruals and contributions | $20,110 |
| Other employee benefits | $806,854 |
| Payroll taxes | $534,066 |
| Fees for services: Management | $806,163 |
| Fees for services: Legal | $13,612 |
| Fees for services: Accounting | $64,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,020,065 |
| Advertising and promotion | $79,457 |
| Office expenses | $29,007 |
| Information technology | $222,711 |
| Royalties | $0 |
| Occupancy | $1,003,282 |
| Travel | $57,835 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,991 |
| Interest | $346,331 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $599,998 |
| Insurance | $402,127 |
| All other expenses | $337,180 |
| Total functional expenses | $15,741,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,708,601 |
| Savings and temporary cash investments | $17,535 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,046,181 |
| 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 | $179,046 |
| Net Land, buildings, and equipment | $7,564,844 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $301,585 |
| Total assets | $10,817,792 |
| Accounts payable and accrued expenses | $1,648,707 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,236,597 |
| Escrow or custodial account liability | $168,921 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,335,872 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,390,097 |
| Net assets without donor restrictions | $2,427,695 |
| 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 | $10,817,792 |