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Nonprofiteer
← ASSUMPTION HOME INC

Form 990 for tax year 2024

Filed by ASSUMPTION HOME INC.

Totals

Total revenue
$9,795,464
Total expenses
$7,127,315
Contributions and grants received
$11,795
Grants paid
$3,192
Program service revenue
$7,274,577
Investment income
$74,394
Other revenue
$2,434,698
Total assets, end of year
$31,176,410
Total liabilities, end of year
$20,332,121
Net assets or fund balances, end of year
$10,844,289
Program services expenses (Part IX)
$6,015,094
Management and general expenses
$1,112,221
Fundraising expenses
$0
Program service expenses (Part III)
$6,015,094

Program services were 84.4% 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

    $11,795

  • 2a · Program service revenue: RESIDENT SERVICES REVENUE

    total $7,188,969 · related or exempt $7,188,969

  • 2b · Program service revenue: SUPPORT FEES

    total $85,608 · related or exempt $85,608

  • 3 · Investment income

    total $74,394 · excluded $74,394

  • 11a · Other revenue: EXTRAORDINARY INCOME

    total $2,321,559 · excluded $2,321,559

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $113,139 · excluded $113,139

  • 11e · Other revenue, total

    $2,434,698

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,192 · program services $3,192

  • 7 · Other salaries and wages

    total $3,398,047 · program services $3,096,201 · management and general $301,846

  • 8 · Pension plan contributions

    total $24,211 · program services $24,211

  • 9 · Other employee benefits

    total $297,206 · program services $297,206

  • 10 · Payroll taxes

    total $272,633 · program services $272,633

  • 11a · Fees: management

    total $290,082 · management and general $290,082

  • 11b · Fees: legal

    total $879 · management and general $879

  • 11c · Fees: accounting

    total $23,335 · management and general $23,335

  • 11g · Fees: other

    total $870,438 · program services $757,560 · management and general $112,878

  • 12 · Advertising and promotion

    total $27,327 · management and general $27,327

  • 13 · Office expenses

    total $59,863 · program services $6,500 · management and general $53,363

  • 16 · Occupancy

    total $284,953 · program services $242,404 · management and general $42,549

  • 17 · Travel

    total $9,425 · program services $6,573 · management and general $2,852

  • 20 · Interest

    total $329,880 · program services $329,340 · management and general $540

  • 22 · Depreciation, depletion and amortization

    total $372,978 · program services $372,978

  • 23 · Insurance

    total $124,682 · management and general $124,682

  • 24a · Other expenses: SUPPLIES

    total $255,118 · program services $246,323 · management and general $8,795

  • 24b · Other expenses: FOOD

    total $222,797 · program services $222,797

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $125,469 · program services $4,645 · management and general $120,824

  • 24d · Other expenses: LICENSE SURCHARGE

    total $106,970 · program services $106,970

  • 24e · All other expenses

    total $27,830 · program services $25,561 · management and general $2,269

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,211,762 · end of year $4,334,526

  • 4 · Accounts receivable

    beginning of year $1,326,819 · end of year $2,800,679

  • 9 · Prepaid expenses and deferred charges

    beginning of year $83,447 · end of year $77,461

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

    $20,442,347

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

    $482,568

  • 10c · Land, buildings and equipment, net

    beginning of year $12,379,050 · end of year $19,959,779

  • 11 · Investments: publicly traded securities

    beginning of year $3,832,055 · end of year $1,853,091

  • 15 · Other assets

    beginning of year $1,169,411 · end of year $2,150,874

  • 17 · Accounts payable and accrued expenses

    beginning of year $929,391 · end of year $1,196,762

  • 19 · Deferred revenue

    beginning of year $281,160 · end of year $169,473

  • 20 · Tax-exempt bond liabilities

    beginning of year $13,360,791 · end of year $13,497,234

  • 21 · Escrow or custodial account liability

    beginning of year $120,677 · end of year $115,162

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $5,000,000

  • 25 · Other liabilities

    beginning of year $215,842 · end of year $353,490

  • 27 · Net assets without donor restrictions

    beginning of year $8,094,683 · end of year $10,844,289

Mission and programs · 2024

Mission

TO PROVIDE A CONTINUUM OF QUALITY CARE IN A CHRISTIAN MANNER THAT HONORS THE DIGNITY OF THE MEMBERS OF OUR LOCAL COMMUNITY.

Activities or mission (Part I)

WE ARE A CATHOLIC, FAITH-BASED ORGANIZATION ENTRUSTED WITH ADVANCING THE LIFE-ENAHANCING SENIOR CARE MINISTRY OF THE BENEDICTINE SISTERS OF DULUTH, MINNESOTA. WE WITNESS TO GOD'S LOVE BY CREATING INCLUSIVE COMMUNITIES, SUPPORTING THOSE WE SERVE TO LIVE WELL AND WITH PURPOSE, WITH SPECIAL CONCERN FOR THE UNDERSERVED.

  • BENEDICTINE ASSUMPTION HOME IS A 76-BED SKILLED NURSING FACILITY IN COLD SPRING, MN WHICH PROVIDES CARE TO RESIDENTS ON A DAILY BASIS. THE COMMUNITY IS RENOWNED FOR BEING A CHRISTIAN HEALTH CARE FACILITY THAT STRIVES TO PROVIDE LONG TERM AND REHABILITATIVE CARE FOR OLDER ADULTS. ASSUMPTION HOME OFFERS THE OLDER ADULT AND THEIR FAMILIES THE COORDINATION NUMEROUS SERVICES AND ASPECTS OF MEDICAL CARE INCLUDING SEVERAL ROUNDING ONSITE PRIMARY PHYSICIANS, NUMEROUS CONSULTING SPECIALTY PHYSICIAN AND LOCAL PHARMACY SERVICES.

    Expenses $4,382,790 · Grants $3,192 · Revenue $5,218,867

  • BENEDICTINE ASSUMPTION COURT IS A 59-UNIT ASSISTED LIVING FACILITY THAT PROVIDES CONGREGATE HOUSING SETTING AND PROVIDES PERSONAL CARE SERVICES TO ITS TENANTS.

    Expenses $764,495 · Revenue $939,110

  • BENEDICTINE ASHER HAUS IS A 28-UNIT ASSISTED LIVING FACILITY THAT SPECIALIZES AND SERVING INDIVIDUALS WITH MEMORY CARE ISSUES.

    Expenses $867,809 · Revenue $1,116,600

As filed on the 2024 return.

Listed in Part VII

  • Jerry Carley

    CEO OF BHS

    Total calculated
    $0
    Hours/week
    1 + 39 related

  • Kevin Rymanowski

    CFO & TREASURER

    Total calculated
    $0
    Hours/week
    1 + 39 related

  • Anneliese Peterson

    COO OF BHS/BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 39 related

  • Adam Frie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kyle Knudson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Fr Leroy Scheierl

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Merrilee Stang

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Nicole Holthaus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Taylar Hack

    VP OF BHS

    Total calculated
    $0
    Hours/week
    1 + 39 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.

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.

  • BENEDICTINE GROUP SELF-INSURANCE ASSOCIATION

    C · WORKERS' COMPENSATION PROGRAM · MN

Provenance

Return type
form_990
Tax year
2024
Filed
30 April 2025
IRS schema version
2024v5.1
Source object
202531219349302223

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