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Nonprofiteer
← LRHC LONG TERM CARE FACILITIES INC

Form 990 for tax year 2023

Filed by LRHC LONG TERM CARE FACILITIES INC.

Totals

Total revenue
$3,197,149
Total expenses
$2,894,865
Contributions and grants received
$100
Grants paid
$0
Program service revenue
$2,944,835
Investment income
$250,860
Other revenue
$1,354
Total assets, end of year
$3,600,270
Total liabilities, end of year
$1,147,239
Net assets or fund balances, end of year
$2,453,031
Program services expenses (Part IX)
$2,749,049
Management and general expenses
$145,816
Fundraising expenses
$0
Program service expenses (Part III)
$2,749,049

Program services were 95.0% 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.

  • 1f · All other contributions, gifts and grants

    $100

  • 2a · Program service revenue: RENT

    total $2,118,892 · related or exempt $2,118,892

  • 2b · Program service revenue: TENANT FEE/EXPENSE

    total $825,943 · related or exempt $825,943

  • 3 · Investment income

    total $27,028 · excluded $27,028

  • 7a · Gross sales of assets other than inventory

    securities $849,734

  • 7b · Less cost or other basis and sales expenses

    securities $622,855 · other assets $3,047

  • 7c · Gain or loss

    securities $226,879 · other assets -$3,047

  • 7d · Net gain or loss

    total $223,832 · excluded $223,832

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,354 · excluded $1,354

  • 11e · Other revenue, total

    $1,354

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,542,129 · program services $1,450,411 · management and general $91,718

  • 8 · Pension plan contributions

    total $16,730 · program services $15,189 · management and general $1,541

  • 9 · Other employee benefits

    total $227,457 · program services $214,492 · management and general $12,965

  • 10 · Payroll taxes

    total $110,746 · program services $104,159 · management and general $6,587

  • 11c · Fees: accounting

    total $9,000 · management and general $9,000

  • 11f · Fees: investment management

    total $2,440 · management and general $2,440

  • 11g · Fees: other

    total $57,102 · program services $57,102

  • 12 · Advertising and promotion

    total $7,143 · program services $7,143

  • 13 · Office expenses

    total $59,586 · program services $56,780 · management and general $2,806

  • 14 · Information technology

    total $69,732 · program services $69,732

  • 16 · Occupancy

    total $199,544 · program services $197,611 · management and general $1,933

  • 17 · Travel

    total $10,519 · program services $4,825 · management and general $5,694

  • 20 · Interest

    total $27,713 · program services $27,713

  • 22 · Depreciation, depletion and amortization

    total $187,175 · program services $176,043 · management and general $11,132

  • 23 · Insurance

    total $494 · program services $494

  • 24a · Other expenses: SUPPLIES

    total $170,367 · program services $170,367

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $149,382 · program services $149,382

  • 24c · Other expenses: LICENSES

    total $31,780 · program services $31,780

  • 24d · Other expenses: MISCELLANEOUS

    total $11,810 · program services $11,810

  • 24e · All other expenses

    total $4,016 · program services $4,016

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $153,231 · end of year $232,691

  • 4 · Accounts receivable

    beginning of year -$14,280 · end of year $449

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,508 · end of year $0

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

    $6,422,445

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

    $3,953,396

  • 10c · Land, buildings and equipment, net

    beginning of year $2,560,619 · end of year $2,469,049

  • 11 · Investments: publicly traded securities

    beginning of year $712,984 · end of year $894,227

  • 15 · Other assets

    beginning of year $0 · end of year $3,854

  • 17 · Accounts payable and accrued expenses

    beginning of year $289,526 · end of year $311,605

  • 23 · Secured mortgages and notes payable

    beginning of year $872,543 · end of year $573,262

  • 25 · Other liabilities

    beginning of year $35,031 · end of year $262,372

  • 27 · Net assets without donor restrictions

    beginning of year $2,219,962 · end of year $2,453,031

Mission and programs · 2023

Mission

OUR GOAL IS TO PROVIDE OUR TENANTS WITH A GRACIOUS LIFESTYLE IN A SAFE, SECURE, RESIDENTIAL SETTING. WE WILL PROMOTE PROGRAMS WHICH ENCOURAGE YOU TO PRACTICE A HEALTHY LIFESTYLE. WE WILL TREAT THOSE WE SERVE WITH DIGNITY AND RESPECT. YOUR RIGHT TO PRIVACY WILL ALWAYS BE PROTECTED AND WE WILL ENCOURAGE EVERYONE TO MAKE THEIR OWN CHOICES WHEN IT COMES TO CARE AND LIFESTYLE.

Activities or mission (Part I)

SAFE, GRACIOUS RESIDENTIAL LVING WITH DIGNITY AND RESPECT.

  • MILL STREET RESIDENCE IS THE AREA'S PREMIER PROVIDER OF ASSISTED LIVING SERVICES. WE PROVIDE OUR TENANTS WITH A WIDE RANGE OF PERSONAL CARE AND NURSING SERVICES. IN ORDER TO OFFER A PREDICTABLE FEE STRUCTURE FOR ALL OUR TENANTS, WE HAVE DEVELOPED A LEVEL OF CARE PROGRAM TO ADDRESS INDIVIDUAL HEALTH AND SERVICE NEEDS. SERVICES INCLUDED IN EACH LEVEL OF CARE MAY INCLUDE ANY COMBINATION OF THE FOLLOWING: RN SUPERVISION AND OVERSIGHT, WEEKLY WELLNESS CLINIC, ROUTINE COMMUNICATION RELATED TO CHANGES IN HEALTH OR CARE LEVEL NEEDS, ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, WEEKLY MEDICATION SETUP, MEDICATION REMINDERS AND/OR ADMINISTRATION, FOOT CARE, ONE PERSON ASSISTANCE WITH TRANSFERS, ASSISTANCE WITH SHOWER OR WHIRLPOOL BATH, BLOOD DRAWS FOR LAB WORK, MONITORING OF BLOOD SUGARS, ESCORTS TO MEALS AND ACTIVITIES AND ASSISTANCE WITH TOILETING AND CONTINENCE NEEDS.

    Expenses $2,749,049 · Revenue $2,944,835

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Deb Ferguson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Laurel Nelson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • John Erickson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Joan Grasswick

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Susie Berg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kent Mattson

    CEO

    Total calculated
    $584,484
    From this org
    $0
    From related orgs
    $526,180
    Other
    $58,304
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $381,440 related
    Bonus
    $0 + $144,740 related
    Other
    $0
    Deferred
    $0 + $23,000 related
    Nontaxable benefits
    $0 + $35,304 related
    Filer's total
    $0 + $584,484 related

  • Chris Johnson

    CFO

    Total calculated
    $0
    Hours/week
    1 + 40 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 6b · Pay contingent on a related organization's net earnings

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION FOR MANAGEMENT OF LRHC LONG TERM CARE FACILITIES IS REVIEWED ANNUALLY AND COMPARED TO SALARY SURVEYS FOR SIMILAR ORGANIZATIONS. COMPENSATION IS PRESENTED FOR APPROVAL BY THE EXECUTIVE COMMITTEE.
PART I, LINE 6
LAKE REGION HEALTHCARE HAS IMPLEMENTED AN INCENTIVE COMPENSATION PROGRAM FOR CERTAIN EXECUTIVE LEADERSHIP POSITIONS WITHIN THE ORGANIZATION. CERTAIN MEASURES AND GOALS NEED TO BE MET IN ORDER FOR THE COMPENSATION TO BE PAID OUT IN PART OR IN WHOLE; SUCH AS MEETING FINANCIAL PERFORMANCE EXPECTATIONS, QUALITY METRICS AND SUCCESSFUL IMPLEMENTATION OF STRATEGIC GOALS. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS PERFORMANCE ANNUALLY AND DETERMINES ANY AMOUNTS OF COMPENSATION THAT IS AWARDED.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WEST CENTRAL LINEN SERVICES

    C · LAUNDRY AND LINEN · MN

Provenance

Return type
form_990
Tax year
2023
Filed
31 July 2025
IRS schema version
2023v6.0
Source object
202542169349301804

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