Form 990 for tax year 2024
Filed by PSA HOUSING & ASSISTED LIVING INC.
Totals
- Total revenue
- $6,140,139
- Total expenses
- $4,840,617
- Contributions and grants received
- $45,789
- Grants paid
- $3,851
- Program service revenue
- $5,711,142
- Investment income
- $197,628
- Other revenue
- $185,580
- Total assets, end of year
- $13,183,709
- Total liabilities, end of year
- $12,279,376
- Net assets or fund balances, end of year
- $904,333
- Program services expenses (Part IX)
- $3,815,530
- Management and general expenses
- $1,025,087
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,815,530
Program services were 78.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$41,703
-
1e · Government grants (contributions)
$4,086
-
2a · Program service revenue: RENTAL FEES & RELATED
total $5,711,142 · related or exempt $5,711,142
-
3 · Investment income
total $197,628 · excluded $197,628
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $14,168
-
6c · Rental income or loss
real property $14,168
-
6d · Net rental income or loss
total $14,168 · excluded $14,168
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$8,354
-
10b · Cost of goods sold
$5,607
-
10c · Net income from sales of inventory
total $2,747 · excluded $2,747
-
11a · Other revenue: BEAUTY SHOP
total $38,822 · excluded $38,822
-
11b · Other revenue: CULINARY
total $61,656 · excluded $61,656
-
11c · Other revenue: MISCELLANEOUS INCOME
total $56,815 · excluded $56,815
-
11d · All other revenue
total $11,372 · excluded $11,372
-
11e · Other revenue, total
$168,665
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $3,851 · program services $3,851
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,444,272 · program services $1,086,465 · management and general $357,807
-
8 · Pension plan contributions
total $27,477 · program services $20,670 · management and general $6,807
-
9 · Other employee benefits
total $186,010 · program services $139,927 · management and general $46,083
-
10 · Payroll taxes
total $103,173 · program services $77,613 · management and general $25,560
-
11a · Fees: management
total $303,219 · management and general $303,219
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $11,150 · management and general $11,150
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $106,450 · program services $101,595 · management and general $4,855
-
12 · Advertising and promotion
total $3,163 · program services $2,001 · management and general $1,162
-
13 · Office expenses
total $76,273 · program services $28,227 · management and general $48,046
-
14 · Information technology
total $65,020 · management and general $65,020
-
15 · Royalties
total $0
-
16 · Occupancy
total $627,644 · program services $597,869 · management and general $29,775
-
17 · Travel
total $2,771 · program services $2,771
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $1,650 · program services $1,650
-
20 · Interest
total $337,365 · program services $337,365
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $785,878 · program services $785,878
-
23 · Insurance
total $94,803 · management and general $94,803
-
24a · Other expenses: FOOD
total $323,140 · program services $323,140
-
24b · Other expenses: BLDG MAINT
total $281,629 · program services $281,629
-
24c · Other expenses: MISCELLEANOUS
total $55,679 · program services $24,879 · management and general $30,800
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $0
-
2 · Savings and temporary cash investments
beginning of year $2,719,605 · end of year $2,645,448
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $52,040 · end of year $51,010
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $7,487 · end of year $8,236
-
10a · Land, buildings and equipment: cost or other basis
$18,875,010
-
10b · Land, buildings and equipment: accumulated depreciation
$12,127,838
-
10c · Land, buildings and equipment, net
beginning of year $7,181,844 · end of year $6,747,172
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
beginning of year $2,941,070 · end of year $3,514,719
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
beginning of year $231,680 · end of year $217,124
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $672,491 · end of year $648,276
-
20 · Tax-exempt bond liabilities
beginning of year $12,032,627 · end of year $11,426,900
-
21 · Escrow or custodial account liability
beginning of year $260,894
-
25 · Other liabilities
beginning of year $212,903 · end of year $204,200
-
27 · Net assets without donor restrictions
beginning of year -$45,189 · end of year $904,333
Mission and programs · 2024
Mission
THE MISSION OF THE ORGANIZATION IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.
-
THE ORGANIZATION IS LOCATED IN MAHTOMEDI, MINNESOTA. IT CONSISTS OF 25 APARTMENTS THAT ARE MEMORY CARE ASSISTED LIVING AND 44 TRADITIONAL ASSISTED LIVING APARTMENTS. THE CAMPUS ALSO CONTAINS 70 INDEPENDENT SENIOR LIVING APARTMENTS.
Expenses $3,815,530 · Grants $3,851 · Revenue $5,711,142
As filed on the 2024 return.
Listed in Part VII
-
SCOTT ANDERSON
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
DUANE LARSON
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
BETH OSTREM
BOARD TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
PASTOR MIKE CARLSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
BLAKE BOCHE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
MARK MEYER
CFO
- Total calculated
- $0
- Hours/week
- 1
-
WILLIAM HIBBARD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
SANDRA BUERKLE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · SENIOR HOUSING · MN
Directly controlled by NA
-
PRESBYTERIAN HOMES HSG & ASSISTED LIVING
501(C)(3) · SENIOR HOUSING · MN
Provenance
- Return type
- form_990
- Tax year
- 2024
- IRS schema version
- 2024v5.2
- Source object
- 202622209349301802
The source document this was parsed from is served over the API, which is where bulk and document access live.