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Nonprofiteer
← CAPITOL LAKES INC

Form 990 for tax year 2023

Filed by CAPITOL LAKES INC.

Totals

Total revenue
$22,768,162
Total expenses
$25,350,030
Contributions and grants received
$321,602
Grants paid
$0
Program service revenue
$22,122,646
Investment income
$193,461
Other revenue
$130,453
Total assets, end of year
$41,253,478
Total liabilities, end of year
$96,056,082
Net assets or fund balances, end of year
-$54,802,604
Program services expenses (Part IX)
$19,055,384
Management and general expenses
$6,294,646
Fundraising expenses
$0
Program service expenses (Part III)
$19,055,384

Program services were 75.2% 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

    $102,674

  • 1f · All other contributions, gifts and grants

    $218,928

  • 2a · Program service revenue: SERVICE FEES

    total $13,905,666 · related or exempt $13,905,666

  • 2b · Program service revenue: HEALTH CENTER

    total $5,662,407 · related or exempt $5,662,407

  • 2c · Program service revenue: ENTRANCE FEES

    total $1,737,316 · related or exempt $1,737,316

  • 2d · Program service revenue: ALL OTHER

    total $581,919 · related or exempt $581,919

  • 2e · Program service revenue: HOME CARE

    total $218,720 · related or exempt $218,720

  • 2f · All other program service revenue

    total $16,618 · related or exempt $16,618

  • 3 · Investment income

    total $223,321 · excluded $223,321

  • 6a · Gross rents

    real property $9,079

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $9,079

  • 6d · Net rental income or loss

    total $9,079 · excluded $9,079

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

    other assets $29,860

  • 7c · Gain or loss

    other assets -$29,860

  • 7d · Net gain or loss

    total -$29,860 · excluded -$29,860

  • 11a · Other revenue: MANAGEMENT FEES

    total $121,374 · excluded $121,374

  • 11e · Other revenue, total

    $121,374

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $615,059 · management and general $615,059

  • 7 · Other salaries and wages

    total $9,104,891 · program services $8,012,304 · management and general $1,092,587

  • 8 · Pension plan contributions

    total $296,922 · program services $261,292 · management and general $35,630

  • 9 · Other employee benefits

    total $1,340,292 · program services $1,179,457 · management and general $160,835

  • 10 · Payroll taxes

    total $696,968 · program services $613,332 · management and general $83,636

  • 11a · Fees: management

    total $1,750,178 · management and general $1,750,178

  • 11b · Fees: legal

    total $67,907 · management and general $67,907

  • 11c · Fees: accounting

    total $25,000 · management and general $25,000

  • 11f · Fees: investment management

    total $12,484 · management and general $12,484

  • 11g · Fees: other

    total $1,322,586 · program services -$13,988 · management and general $1,336,574

  • 12 · Advertising and promotion

    total $251,461 · management and general $251,461

  • 13 · Office expenses

    total $575,225 · program services $330,641 · management and general $244,584

  • 14 · Information technology

    total $139,886 · management and general $139,886

  • 16 · Occupancy

    total $1,638,104 · program services $1,597,658 · management and general $40,446

  • 17 · Travel

    total $116,298 · program services $452 · management and general $115,846

  • 19 · Conferences, conventions and meetings

    total $15,625 · management and general $15,625

  • 20 · Interest

    total $2,192,791 · program services $2,192,791

  • 22 · Depreciation, depletion and amortization

    total $2,241,637 · program services $2,241,637

  • 23 · Insurance

    total $311,960 · program services $311,960

  • 24a · Other expenses: OTHER DIETARY EXPENSE

    total $997,359 · program services $997,359

  • 24b · Other expenses: HEALTH CENTER EXPENSE

    total $977,990 · program services $977,990

  • 24c · Other expenses: OTHER FACILITY SERVICE

    total $453,424 · program services $146,516 · management and general $306,908

  • 24d · Other expenses: PROGRAM FUND EXPENSES

    total $205,983 · program services $205,983

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,765,632 · end of year $1,916,326

  • 2 · Savings and temporary cash investments

    beginning of year $1,198,309 · end of year $1,550,281

  • 4 · Accounts receivable

    beginning of year $1,453,323 · end of year $888,263

  • 8 · Inventories for sale or use

    beginning of year $81,619 · end of year $97,873

  • 9 · Prepaid expenses and deferred charges

    beginning of year $345,433 · end of year $269,817

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

    $71,820,486

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

    $43,062,330

  • 10c · Land, buildings and equipment, net

    beginning of year $29,077,951 · end of year $28,758,156

  • 11 · Investments: publicly traded securities

    beginning of year $6,256,303 · end of year $7,160,952

  • 15 · Other assets

    beginning of year $676,295 · end of year $611,810

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,721,341 · end of year $3,402,878

  • 19 · Deferred revenue

    beginning of year $10,503,612 · end of year $11,273,557

  • 20 · Tax-exempt bond liabilities

    beginning of year $32,987,100 · end of year $32,216,120

  • 21 · Escrow or custodial account liability

    beginning of year $733,678 · end of year $871,071

  • 25 · Other liabilities

    beginning of year $47,759,433 · end of year $48,292,456

  • 27 · Net assets without donor restrictions

    beginning of year -$53,573,094 · end of year -$55,473,858

  • 28 · Net assets with donor restrictions

    beginning of year $722,795 · end of year $671,254

Mission and programs · 2023

Mission

CAPITOL LAKES IS A PREMIER CONTINUING CARE RETIREMENT COMMUNITY DEDICATED TO ENRICHING LIVES.

Activities or mission (Part I)

TO PROVIDE CARE AND HOUSING FOR THE ELDERLY.

  • CAPITOL LAKES IS A CONTINUING CARE RETIREMENT COMMUNITY, DEDICATED TO ENHANCING OUR RESIDENTS' QUALITY OF LIFE IN A STIMULATING, SECURE ENVIRONMENT. WE PROVIDE HIGH-QUALITY SERVICES INCLUDING HOUSING, NUTRITIOUS MEALS, NURSING, HOUSEKEEPING, MAINTENANCE, AND OTHER SUPPORT TO THOSE WE SERVE. OUR LEVELS OF SERVICE INCLUDE INDEPENDENT LIVING, ASSISTED LIVING, AND SKILLED NURSING.

    Expenses $19,055,384 · Revenue $22,122,646

As filed on the 2023 return.

Listed in Part VII

  • SUE CENTER

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CLAY NORRBOM

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SALLY DREW

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • STEVE JOHANNSEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HARRY PETERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TIM CONROY

    EXECUTIVE DIRECTOR

    Total calculated
    $355,757
    From this org
    $305,512
    From related orgs
    $0
    Other
    $50,245
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $262,424
    Bonus
    $43,088
    Other
    $0
    Deferred
    $28,192
    Nontaxable benefits
    $22,053
    Filer's total
    $355,757

  • KRISTIN VATER

    HEALTH CENTER ADMINISTRATOR

    Total calculated
    $193,509
    From this org
    $174,284
    From related orgs
    $0
    Other
    $19,225
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $161,743
    Bonus
    $12,541
    Other
    $0
    Deferred
    $12,164
    Nontaxable benefits
    $7,061
    Filer's total
    $193,509

  • STEVEN MELLSTROM

    HUMAN RESOURCES DIRECTOR

    Total calculated
    $165,302
    From this org
    $133,277
    From related orgs
    $0
    Other
    $32,025
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,569
    Bonus
    $2,708
    Other
    $0
    Deferred
    $9,833
    Nontaxable benefits
    $22,192
    Filer's total
    $165,302

  • REBECCA WYLESKY-DURST

    HC DIRECTOR NURSING

    Total calculated
    $131,382
    From this org
    $129,427
    From related orgs
    $0
    Other
    $1,955
    Hours/week
    40

  • HOLLY JOHNSON

    SALES DIRECTOR

    Total calculated
    $161,383
    From this org
    $131,408
    From related orgs
    $0
    Other
    $29,975
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $85,531
    Bonus
    $45,877
    Other
    $0
    Deferred
    $9,619
    Nontaxable benefits
    $20,356
    Filer's total
    $161,383

  • DANIEL HARVEY

    FACILITY SERVICES DIRECTOR

    Total calculated
    $135,893
    From this org
    $126,158
    From related orgs
    $0
    Other
    $9,735
    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

  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION WAS RECOMMENDED BY PACIFIC RETIREMENT SERVICES, INC. AND APPROVED BY CAPITOL LAKES' BOARD AS PART OF THE ANNUAL BUDGET PROCESS.
PART I, LINE 7
THE ORGANIZATION PAID BONUSES THIS YEAR. THE PROCESS FOR DETERMINING EXECUTIVE BONUSES IS DISCRETIONARY. IT IS DETERMINED BY THE VP OF OPERATIONS FOR PRS AND IT IS BASED ON THE PERFORMANCE OF THE COMMUNITY FOR THE YEAR.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 August 2025
IRS schema version
2023v6.0
Source object
202502269349301220

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