Hover Senior Living Community
- Assets
- $3.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 83
- Location
- Longmont, CO
- Founding
- 05/1983
- Data as of
- 06/2022
- EIN
- 84-0890971
Organization Overview
Hover Senior Living Community is located in Longmont, CO. The organization was established in 1983. 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 06/2022, Hover Senior Living Community employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hover Senior Living Community 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 06/2022, Hover Senior Living Community generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $2.5m during the year ending 06/2022. While expenses have increased by 3.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HOVER COMMUNITY PROVIDES FACILITIES AND SERVICES FOR THE BENEFIT OF THE GENERAL PUBLIC.THE ORGANIZATION OPERATES AN ASSISTED LIVING RESIDENCE FOR THE ELDERLY AND HANDICAPPED AND OVERSEES THE CONTINUING DEVELOPMENT OF A RETIREMENT CAMPUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOVER COMMUNITY PROVIDES HOUSING AND HEALTH SERVICES FOR PERSONS SIXTY-TWO YEARS OF AGE AND OLDER. THE ORGANIZATION OPERATES A FIFTY-ONE UNIT ASSISTED LIVING RESIDENCE AND PROVIDES PERSONAL CARE SERVICES FOR THE ELDERLY AND HANDICAPPED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Schwalm President | OfficerTrustee | 1 | $0 |
Marty Block Vice President | OfficerTrustee | 1 | $0 |
Lois Boschee Secretary | OfficerTrustee | 1 | $0 |
Dode Simonson Treasurer | OfficerTrustee | 1 | $0 |
Paula Enrietto Director | Trustee | 1 | $0 |
Keith Evans Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,092 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,092 |
| Total Program Service Revenue | $2,117,192 |
| Investment income | $1,534 |
| 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 | $2,143,501 |
| 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. | $88,712 |
| Compensation of current officers, directors, key employees. | $14,194 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,117,584 |
| Pension plan accruals and contributions | $9,783 |
| Other employee benefits | $104,296 |
| Payroll taxes | $96,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $392 |
| Fees for services: Accounting | $11,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,213 |
| Fees for services: Other | $362,791 |
| Advertising and promotion | $7,788 |
| Office expenses | $0 |
| Information technology | $11,795 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $29,122 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $191,749 |
| Insurance | $52,123 |
| All other expenses | $133,977 |
| Total functional expenses | $2,546,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,163 |
| Savings and temporary cash investments | $692,311 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,107 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,027,855 |
| Inventories for sale or use | $1,380 |
| Prepaid expenses and deferred charges | $64,301 |
| Net Land, buildings, and equipment | $1,620,241 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,696 |
| Total assets | $3,694,054 |
| Accounts payable and accrued expenses | $137,659 |
| Grants payable | $0 |
| Deferred revenue | $6,624 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $646,371 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $790,654 |
| Net assets without donor restrictions | $2,901,470 |
| Net assets with donor restrictions | $1,930 |
| 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 | $3,694,054 |