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← PRESBYTERIAN HOMES FOUNDATION

Form 990 for tax year 2022

Filed by PRESBYTERIAN HOMES FOUNDATION.

Totals

Total revenue
$9,097,701
Total expenses
$7,353,429
Contributions and grants received
$3,005,449
Grants paid
$5,840,099
Program service revenue
$0
Investment income
$6,092,252
Other revenue
$0
Total assets, end of year
$81,539,619
Total liabilities, end of year
$16,441,686
Net assets or fund balances, end of year
$65,097,933
Program services expenses (Part IX)
$7,310,845
Management and general expenses
$42,584
Fundraising expenses
$0
Program service expenses (Part III)
$7,310,845

Program services were 99.4% 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

    $3,005,449

  • 1g · Noncash contributions included above

    $128,992

  • 3 · Investment income

    total $6,092,252 · excluded $6,092,252

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,778,735 · program services $5,778,735

  • 2 · Grants to domestic individuals

    total $61,364 · program services $61,364

  • 11a · Fees: management

    total $1,470,746 · program services $1,470,746

  • 11c · Fees: accounting

    total $8,320 · management and general $8,320

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $34,264 · management and general $34,264

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,254,277 · end of year $2,080,549

  • 3 · Pledges and grants receivable

    beginning of year $129,919 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $69,470,917 · end of year $75,965,270

  • 13 · Investments: program-related

    beginning of year $2,324,000 · end of year $2,324,000

  • 15 · Other assets

    beginning of year $1,169,800 · end of year $1,169,800

  • 17 · Accounts payable and accrued expenses

    beginning of year $554,547 · end of year $520,762

  • 25 · Other liabilities

    beginning of year $16,034,120 · end of year $15,920,924

  • 27 · Net assets without donor restrictions

    beginning of year -$12,453,235 · end of year $4,073,922

  • 28 · Net assets with donor restrictions

    beginning of year $72,213,481 · end of year $61,024,011

Mission and programs · 2022

Mission

THE MISSION OF PRESBYTERIAN HOMES FOUNDATION 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.

  • THE FOUNDATION IS FORMED TO AID, SUPPORT, AND PROMOTE THE 501(C)(3) PURPOSES OF THE PRESBYTERIAN HOMES AND ITS AFFILIATES. SPECIFICALLY, THE FOUNDATION PROVIDED $5,840,099 IN AWARDS TO AFFILIATED ORGANIZATIONS DURING THE YEAR ENDED SEPTEMBER 30, 2023. THESE AWARDS ARE USED TO PROVIDE HOUSING AND OTHER CARE SERVICES TO THE ELDERLY IN ACCORDANCE WITH THE EXEMPT PURPOSES OF THE RECIPIENT CHARITABLE AFFILIATES.

    Expenses $7,310,845 · Grants $5,840,099

As filed on the 2022 return.

Listed in Part VII

  • Daniel Lindh

    CEO & BOARD CHAIR

    Total calculated
    $862,457
    From this org
    $0
    From related orgs
    $836,839
    Other
    $25,618
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $813,148 related
    Bonus
    $0
    Other
    $0 + $23,691 related
    Deferred
    $0 + $14,750 related
    Nontaxable benefits
    $0 + $10,868 related
    Filer's total
    $0 + $862,457 related

  • Mark Meyer

    CFO & SECRETARY/TREASURER

    Total calculated
    $478,878
    From this org
    $0
    From related orgs
    $449,215
    Other
    $29,663
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $425,562 related
    Bonus
    $0
    Other
    $0 + $23,653 related
    Deferred
    $0 + $14,750 related
    Nontaxable benefits
    $0 + $14,913 related
    Filer's total
    $0 + $478,878 related

  • Duane Larson

    SVP OPERATIONS & VICE CHAIR THRU 12/2022

    Total calculated
    $351,791
    From this org
    $0
    From related orgs
    $329,917
    Other
    $21,874
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,632 related
    Bonus
    $0
    Other
    $0 + $21,285 related
    Deferred
    $0 + $14,750 related
    Nontaxable benefits
    $0 + $7,124 related
    Filer's total
    $0 + $351,791 related

  • Mark Pederson

    SVP OPERATIONS & VICE CHAIR

    Total calculated
    $212,529
    From this org
    $0
    From related orgs
    $189,597
    Other
    $22,932
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $188,833 related
    Bonus
    $0
    Other
    $0 + $764 related
    Deferred
    $0 + $8,019 related
    Nontaxable benefits
    $0 + $14,913 related
    Filer's total
    $0 + $212,529 related

  • Jonathan Fletcher

    VP OF DEVELOPMENT

    Total calculated
    $383,339
    From this org
    $0
    From related orgs
    $358,151
    Other
    $25,188
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $351,146 related
    Bonus
    $0
    Other
    $0 + $7,005 related
    Deferred
    $0 + $12,702 related
    Nontaxable benefits
    $0 + $12,486 related
    Filer's total
    $0 + $383,339 related

  • Teresa Larson

    SVP HUMAN RESOURCES

    Total calculated
    $163,557
    From this org
    $0
    From related orgs
    $153,546
    Other
    $10,011
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $145,510 related
    Bonus
    $0
    Other
    $0 + $8,036 related
    Deferred
    $0 + $7,695 related
    Nontaxable benefits
    $0 + $2,316 related
    Filer's total
    $0 + $163,557 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

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 3
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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • WAYZATA BAY PLAZA RETAIL LLC

    C · RETAIL · MN

  • WAYZATA BAY WEST RETAIL LLC

    C · RETAIL · MN

  • WAYZATA BAY EAST RETAIL LLC

    C · RETAIL · MN

Provenance

Return type
form_990
Tax year
2022
Filed
7 August 2024
IRS schema version
2022v5.0
Source object
202402259349300425

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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