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← WAYZATA BAY SENIOR HOUSING INC

Form 990 for tax year 2024

Filed by WAYZATA BAY SENIOR HOUSING INC.

Totals

Total revenue
$25,298,676
Total expenses
$22,890,864
Contributions and grants received
$100,834
Grants paid
$19,836
Program service revenue
$24,624,295
Investment income
$442,045
Other revenue
$131,502
Total assets, end of year
$150,134,207
Total liabilities, end of year
$130,002,197
Net assets or fund balances, end of year
$20,132,010
Program services expenses (Part IX)
$19,756,519
Management and general expenses
$3,134,345
Fundraising expenses
$0
Program service expenses (Part III)
$19,756,519

Program services were 86.3% 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

    $92,036

  • 1e · Government grants (contributions)

    $8,798

  • 2a · Program service revenue: RESIDENT SERVICES

    total $24,624,295 · related or exempt $24,624,295

  • 3 · Investment income

    total $442,045 · excluded $442,045

  • 6a · Gross rents

    real property $1,152,572

  • 6b · Less rental expenses

    real property $1,402,324

  • 6c · Rental income or loss

    real property -$249,752

  • 6d · Net rental income or loss

    total -$249,752 · unrelated business -$46,429 · excluded -$203,323

  • 10a · Gross sales of inventory

    $18,275

  • 10b · Cost of goods sold

    $15,564

  • 10c · Net income from sales of inventory

    total $2,711 · excluded $2,711

  • 11a · Other revenue: CULINARY REVENUE

    total $159,583 · excluded $159,583

  • 11b · Other revenue: BEAUTY SHOP

    total $138,068 · excluded $138,068

  • 11c · Other revenue: MISCELLANEOUS INCOME

    total $80,892 · excluded $80,892

  • 11e · Other revenue, total

    $378,543

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $19,836 · program services $19,836

  • 7 · Other salaries and wages

    total $7,931,520 · program services $7,026,341 · management and general $905,179

  • 8 · Pension plan contributions

    total $178,101 · program services $178,101

  • 9 · Other employee benefits

    total $967,322 · program services $948,339 · management and general $18,983

  • 10 · Payroll taxes

    total $617,375 · program services $617,375

  • 11a · Fees: management

    total $1,182,592 · management and general $1,182,592

  • 11b · Fees: legal

    total $508 · management and general $508

  • 11c · Fees: accounting

    total $16,340 · management and general $16,340

  • 11g · Fees: other

    total $588,441 · program services $586,016 · management and general $2,425

  • 12 · Advertising and promotion

    total $37,387 · program services $10,280 · management and general $27,107

  • 13 · Office expenses

    total $346,648 · program services $238,817 · management and general $107,831

  • 14 · Information technology

    total $196,015 · management and general $196,015

  • 16 · Occupancy

    total $417,208 · program services $303,434 · management and general $113,774

  • 17 · Travel

    total $18,430 · program services $18,430

  • 19 · Conferences, conventions and meetings

    total $3,308 · program services $3,308

  • 20 · Interest

    total $3,773,882 · program services $3,773,882

  • 22 · Depreciation, depletion and amortization

    total $3,939,902 · program services $3,939,902

  • 23 · Insurance

    total $370,074 · management and general $370,074

  • 24a · Other expenses: BUILDING CONTRACTS/MAIN

    total $935,676 · program services $935,676

  • 24b · Other expenses: FOOD

    total $802,690 · program services $802,690

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $296,461 · program services $102,944 · management and general $193,517

  • 24d · Other expenses: NURSING

    total $166,698 · program services $166,698

  • 24e · All other expenses

    total $84,450 · program services $84,450

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $19,934,644

  • 2 · Savings and temporary cash investments

    beginning of year $15,102,844 · end of year $410,081

  • 4 · Accounts receivable

    beginning of year $344,688 · end of year $372,642

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,593 · end of year $42,401

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

    $173,236,554

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

    $51,115,484

  • 10c · Land, buildings and equipment, net

    beginning of year $125,977,980 · end of year $122,121,070

  • 14 · Intangible assets

    beginning of year $948,511 · end of year $0

  • 15 · Other assets

    beginning of year $9,870,937 · end of year $7,253,369

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,571,528 · end of year $1,359,681

  • 20 · Tax-exempt bond liabilities

    beginning of year $71,534,082 · end of year $71,062,823

  • 21 · Escrow or custodial account liability

    beginning of year $40,561,200 · end of year $41,001,145

  • 23 · Secured mortgages and notes payable

    beginning of year $12,453,603 · end of year $10,147,267

  • 25 · Other liabilities

    beginning of year $6,438,942 · end of year $6,431,281

  • 27 · Net assets without donor restrictions

    beginning of year $17,724,198 · end of year $20,132,010

Mission and programs · 2024

Mission

THE MISSION OF WAYZATA BAY SENIOR HOUSING, INC., IS TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.

Activities or mission (Part I)

TO HONOR GOD BY ENRICHING THE LIVES AND TOUCHING THE HEARTS OF OLDER ADULTS.

  • WAYZATA BAY SENIOR HOUSING, INC.IS LOCATED IN WAYZATA, MN AND CONSISTS OF 30 SKILLED NURSING BEDS, 17 APARTMENT MEMORY CARE SPECIFIC ASSISTED LIVING, 48 TRADITIONAL ASSISTED LIVING APARTMENTS, AND 221 INDEPENDENT SENIOR APARTMENTS AND 26 ALL AGE APARTMENTS.

    Expenses $19,756,519 · Grants $19,836 · Revenue $24,624,295

As filed on the 2024 return.

Listed in Part VII

  • Daniel Lindh

    PRESIDENT & CEO (THRU 02/2025)

    Total calculated
    $1,023,333
    From this org
    $0
    From related orgs
    $994,222
    Other
    $29,111
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $965,721 related
    Bonus
    $0
    Other
    $0 + $28,501 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $12,111 related
    Filer's total
    $0 + $1,023,333 related

  • Jon Feltcher

    PRESIDENT & CEO

    Total calculated
    $428,022
    From this org
    $0
    From related orgs
    $396,038
    Other
    $31,984
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $391,770 related
    Bonus
    $0
    Other
    $0 + $4,268 related
    Deferred
    $0 + $15,655 related
    Nontaxable benefits
    $0 + $16,329 related
    Filer's total
    $0 + $428,022 related

  • Mark Meyer Cfo

    SECRETARY/TREASURER (THRU 12/2024)

    Total calculated
    $528,586
    From this org
    $0
    From related orgs
    $499,375
    Other
    $29,211
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $472,943 related
    Bonus
    $0
    Other
    $0 + $26,432 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $12,211 related
    Filer's total
    $0 + $528,586 related

  • Mark Pederson

    SVP OPERATIONS

    Total calculated
    $324,938
    From this org
    $0
    From related orgs
    $299,277
    Other
    $25,661
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $297,934 related
    Bonus
    $0
    Other
    $0 + $1,343 related
    Deferred
    $0 + $13,450 related
    Nontaxable benefits
    $0 + $12,211 related
    Filer's total
    $0 + $324,938 related

  • Heidi Peterson

    VP FINANCE

    Total calculated
    $327,893
    From this org
    $0
    From related orgs
    $297,848
    Other
    $30,045
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $297,129 related
    Bonus
    $0
    Other
    $0 + $719 related
    Deferred
    $0 + $15,480 related
    Nontaxable benefits
    $0 + $14,565 related
    Filer's total
    $0 + $327,893 related

  • Rebecca Rauen

    VP OF HUMAN RESOURCES

    Total calculated
    $340,101
    From this org
    $0
    From related orgs
    $335,241
    Other
    $4,860
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $311,442 related
    Bonus
    $0
    Other
    $0 + $23,799 related
    Deferred
    $0 + $392 related
    Nontaxable benefits
    $0 + $4,468 related
    Filer's total
    $0 + $340,101 related

  • Jodi Devick Neal

    CAMPUS ADMINISTRATOR

    Total calculated
    $182,150
    From this org
    $167,988
    From related orgs
    $0
    Other
    $14,162
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,414
    Bonus
    $0
    Other
    $574
    Deferred
    $8,470
    Nontaxable benefits
    $5,692
    Filer's total
    $182,150

  • Jocelyn Gensoli

    RN

    Total calculated
    $142,976
    From this org
    $124,560
    From related orgs
    $0
    Other
    $18,416
    Hours/week
    40

  • Sarah Porcelli

    CLINICAL ADMINISTRATOR

    Total calculated
    $103,637
    From this org
    $102,653
    From related orgs
    $0
    Other
    $984
    Hours/week
    40

  • Amy Stock

    HOUSING ADMINISTRATOR

    Total calculated
    $113,971
    From this org
    $101,646
    From related orgs
    $0
    Other
    $12,325
    Hours/week
    40

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

None.

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
  • 6b · Pay contingent on a related 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 1B
THE CEO'S COMPENSATION IS DETERMINED BY PRESBYTERIAN HOMES AND SERVICES, A RELATED ORGANIZATION. PRESBYTERIAN HOMES AND SERVICES USES THE FOLLOWING TO DETERMINE THE CEO'S COMPENSATION: 1. COMPENSATION COMMITTEE 2. INDEPENDENT COMPENSATION CONSULTANT 3. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE 4. COMPENSATION SURVEY OR STUDY

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WAYZATA BAY SUPERIOR RETAIL LLC

    RETAIL · MN · income $140,100 · assets $11,993,357

    Directly controlled by WAYZATA BAY SENIOR HOUSING INC

  • WAYZATA BAY WEST ALL AGE HOUSING LLC

    ALL AGE HOUSING · MN · income $933,966 · assets $914,592

    Directly controlled by WAYZATA BAY SENIOR HOUSING INC

  • WAYZATA BAY WEST SENIOR HOUSING LLC

    SENIOR HOUSING · MN · income $4,437,141 · assets $39,242,152

    Directly controlled by WAYZATA BAY SENIOR HOUSING INC

Related corporations and trusts

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

  • WAYZATA BAY PLAZA RETAIL LLC

    C · RETAIL · MN · 100% owned · share of income $738,971 · share of assets $12,348,705 · controlled entity

    Directly controlled by WAYZATA BAY SENIOR HOUSING INC

  • WAYZATA BAY WEST RETAIL LLC

    C · RETAIL · MN · 100% owned · share of income $1,132,359 · share of assets $16,170,268 · controlled entity

    Directly controlled by WAYZATA BAY SENIOR HOUSING INC

  • WAYZATA BAY EAST RETAIL LLC

    C · RETAIL · MN · 100% owned · share of income $190,705 · share of assets $10,845,622 · controlled entity

    Directly controlled by WAYZATA BAY SENIOR HOUSING INC

Provenance

Return type
form_990
Tax year
2024
Filed
6 August 2026
IRS schema version
2024v5.5
Source object
202622189349301902

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