Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $66,954

• 1e · Government grants (contributions)

  $2,898,717

• 2a · Program service revenue: RESIDENT REVENUE

  total $14,557,483 · related or exempt $14,557,483

• 2b · Program service revenue: ANCILLARY REVENUE

  total $2,278,261 · related or exempt $2,278,261

• 3 · Investment income

  total $946,466 · excluded $946,466

• 6a · Gross rents

  real property $1,100

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,100

• 6d · Net rental income or loss

  total $1,100 · excluded $1,100

• 10a · Gross sales of inventory

  $9,350

• 10b · Cost of goods sold

  $5,235

• 10c · Net income from sales of inventory

  total $4,115 · excluded $4,115

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $63,508 · excluded $63,508

• 11b · Other revenue: VENDING SALES

  total $2,287 · excluded $2,287

• 11c · Other revenue: DINING ROOM SALES

  total $628 · excluded $628

• 11e · Other revenue, total

  $66,423

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,000,000 · program services $1,000,000

• 2 · Grants to domestic individuals

  total $15,433 · program services $15,433

• 7 · Other salaries and wages

  total $10,217,083 · program services $9,607,698 · management and general $609,385

• 8 · Pension plan contributions

  total $221,848 · program services $221,848

• 9 · Other employee benefits

  total $802,717 · program services $802,717

• 10 · Payroll taxes

  total $595,869 · program services $595,869

• 11a · Fees: management

  total $927,420 · management and general $927,420

• 11b · Fees: legal

  total $87,577 · management and general $87,577

• 11c · Fees: accounting

  total $22,485 · management and general $22,485

• 11g · Fees: other

  total $1,713,884 · program services $1,678,734 · management and general $35,150

• 12 · Advertising and promotion

  total $13,956 · program services $8,717 · management and general $5,239

• 13 · Office expenses

  total $145,851 · program services $7,041 · management and general $138,810

• 14 · Information technology

  total $148,903 · program services $16,343 · management and general $132,560

• 16 · Occupancy

  total $411,861 · program services $391,291 · management and general $20,570

• 17 · Travel

  total $24,787 · program services $1,387 · management and general $23,400

• 19 · Conferences, conventions and meetings

  total $32,969 · program services $32,969

• 20 · Interest

  total $296,526 · program services $296,526

• 22 · Depreciation, depletion and amortization

  total $691,540 · program services $691,540

• 23 · Insurance

  total $166,669 · program services $2,000 · management and general $164,669

• 24a · Other expenses: PROGRAM SUPPLIES

  total $1,346,146 · program services $1,346,146 · management and general $0

• 24b · Other expenses: EQUIPMENT REPAIRS

  total $228,745 · program services $228,745 · management and general $0

• 24c · Other expenses: BAD DEBT EXPENSE

  total $184,785 · program services $0 · management and general $184,785

• 24d · Other expenses: MISCELLANEOUS EXPENSE

  total $56,727 · program services $1,075 · management and general $55,652

• 24e · All other expenses

  total $95,688 · program services $51,547 · management and general $44,141

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,750,451 · end of year $1,659,269

• 2 · Savings and temporary cash investments

  beginning of year $1,406,739 · end of year $1,413,699

• 4 · Accounts receivable

  beginning of year $2,177,160 · end of year $3,778,669

• 9 · Prepaid expenses and deferred charges

  beginning of year $26,200 · end of year $21,962

• 10a · Land, buildings and equipment: cost or other basis

  $18,451,165

• 10b · Land, buildings and equipment: accumulated depreciation

  $11,316,207

• 10c · Land, buildings and equipment, net

  beginning of year $7,290,987 · end of year $7,134,958

• 17 · Accounts payable and accrued expenses

  beginning of year $1,139,685 · end of year $1,501,161

• 20 · Tax-exempt bond liabilities

  beginning of year $8,966,994 · end of year $8,614,661

• 25 · Other liabilities

  beginning of year $379,754 · end of year $359,728

• 27 · Net assets without donor restrictions

  beginning of year $2,165,104 · end of year $3,533,007

The filer's explanations (Part III)

PART I, LINE 3

THE PRESIDENT & CEO IS COMPENSATED BY GUARDIAN ANGELS OF ELK RIVER, A RELATED ORGANIZATION. THE FOLLOWING METHODS WERE USED TO ESTABLISH THE CEO'S COMPENSATION: - COMPENSATION COMMITTEE - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE