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Nonprofiteer
← COBURG VILLAGE INC

Form 990 for tax year 2022

Filed by COBURG VILLAGE INC.

Totals

Total revenue
$14,391,941
Total expenses
$10,455,382
Contributions and grants received
$12,358
Grants paid
$0
Program service revenue
$14,348,288
Investment income
$19,221
Other revenue
$12,074
Total assets, end of year
$43,519,375
Total liabilities, end of year
$26,466,149
Net assets or fund balances, end of year
$17,053,226
Program services expenses (Part IX)
$8,807,907
Management and general expenses
$1,647,475
Fundraising expenses
$0
Program service expenses (Part III)
$8,807,907

Program services were 84.2% 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.

  • 1e · Government grants (contributions)

    $6,500

  • 1f · All other contributions, gifts and grants

    $5,858

  • 2a · Program service revenue: RESIDENT SERVICE REVENUES

    total $9,897,116 · related or exempt $9,897,116

  • 2b · Program service revenue: MISCELLANEOUS

    total $4,098,957 · related or exempt $4,098,957

  • 2c · Program service revenue: OTHER OPERATING

    total $352,215 · related or exempt $352,215

  • 3 · Investment income

    total $81,020 · excluded $81,020

  • 7a · Gross sales of assets other than inventory

    securities $3,025,055

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

    securities $3,086,854

  • 7c · Gain or loss

    securities -$61,799

  • 7d · Net gain or loss

    total -$61,799 · related or exempt -$61,799

  • 11a · Other revenue: COUNTRY STORE

    total $12,074 · related or exempt $12,074

  • 11e · Other revenue, total

    $12,074

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,955,940 · program services $2,443,668 · management and general $512,272

  • 9 · Other employee benefits

    total $585,434 · program services $483,977 · management and general $101,457

  • 11a · Fees: management

    total $497,046 · management and general $497,046

  • 11b · Fees: legal

    total $31,436 · management and general $31,436

  • 11c · Fees: accounting

    total $23,100 · management and general $23,100

  • 11g · Fees: other

    total $368,298 · program services $368,298

  • 12 · Advertising and promotion

    total $132,260 · program services $132,260

  • 16 · Occupancy

    total $1,250,512 · program services $1,137,966 · management and general $112,546

  • 20 · Interest

    total $998,056 · program services $908,231 · management and general $89,825

  • 22 · Depreciation, depletion and amortization

    total $1,609,419 · program services $1,464,571 · management and general $144,848

  • 23 · Insurance

    total $221,299 · program services $201,382 · management and general $19,917

  • 24a · Other expenses: SUPPLIES AND OTHER EXPE

    total $1,094,368 · program services $1,002,067 · management and general $92,301

  • 24b · Other expenses: FOOD EXPENSE

    total $665,487 · program services $665,487

  • 24c · Other expenses: BANK CHARGES/FINANCING

    total $22,727 · management and general $22,727

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $98,460 · end of year $1,872

  • 2 · Savings and temporary cash investments

    beginning of year $10,274,749 · end of year $6,704,928

  • 4 · Accounts receivable

    beginning of year $8,656 · end of year $15,704

  • 9 · Prepaid expenses and deferred charges

    beginning of year $301,980 · end of year $309,364

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

    $57,121,746

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

    $24,938,135

  • 10c · Land, buildings and equipment, net

    beginning of year $32,433,257 · end of year $32,183,611

  • 12 · Investments: other securities

    end of year $3,025,055

  • 15 · Other assets

    beginning of year $791,508 · end of year $1,278,841

  • 17 · Accounts payable and accrued expenses

    beginning of year $514,988 · end of year $520,083

  • 20 · Tax-exempt bond liabilities

    beginning of year $27,178,162 · end of year $21,765,269

  • 25 · Other liabilities

    beginning of year $5,827,041 · end of year $4,180,797

  • 27 · Net assets without donor restrictions

    beginning of year $10,388,419 · end of year $17,053,226

Mission and programs · 2022

Mission

A MINISTRY OF THE LUTHERAN CARE NETWORK, COBURG VILLAGE IS A NOT-FOR-PROFIT ORGANIZATION COMMITTED TO PROVIDING HIGH QUALITY, NON-DENOMINATIONAL RESIDENTIAL SERVICES AND RELATED PROGRAMS FOR OLDER ADULTS.

Activities or mission (Part I)

A MINISTRY OF HEALING, HOSPITALITY, AND COMMUNITY THROUGH PARTNERSHIP AND CARING.

  • TO OPERATE A 288 UNIT INDEPENDENT LIVING COMPLEX FOR THE ELDERLY

    Expenses $8,795,994 · Revenue $14,298,563

  • OPERATION OF A CONVENIENCE STORE TO FURTHER FACILITATE THE INDEPENDENT LIVING ENVIRONMENT OF COBURG VILLAGE.

    Expenses $11,913

As filed on the 2022 return.

Listed in Part VII

  • Arthur Upright

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Rev Adam Wiegand

    BOARD OF DIRECTORS MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ed Kleinke

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dave Hahn

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Christopher Jones

    BOARD OF DIRECTORS MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Grace Hokanson

    BOARD OF DIRECTORS MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Mesloh

    BOARD OF DIRECTORS MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bishop Derek Lecakes

    BOARD OF DIRECTORS MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Antoinette Wallace

    EXECUTIVE DIRECTOR

    Total calculated
    $177,390
    From this org
    $171,178
    From related orgs
    $0
    Other
    $6,212
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,178
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,212
    Filer's total
    $177,390

  • Nancy Palmer

    CONTROLLER

    Total calculated
    $86,535
    From this org
    $73,107
    From related orgs
    $0
    Other
    $13,428
    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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202303049349302105

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