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Nonprofiteer
← CARDINAL BAY INC

Form 990 for tax year 2025

Filed by CARDINAL BAY INC.

Totals

Total revenue
$47,268,372
Total expenses
$48,067,405
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$47,134,884
Investment income
$133,488
Other revenue
$0
Total assets, end of year
$198,353,443
Total liabilities, end of year
$223,775,695
Net assets or fund balances, end of year
-$25,422,252
Program services expenses (Part IX)
$44,179,455
Management and general expenses
$3,887,950
Fundraising expenses
$0
Program service expenses (Part III)
$44,179,455

Program services were 91.9% 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.

  • 2a · Program service revenue: RENT REVENUE

    total $47,105,559 · related or exempt $47,105,559

  • 2b · Program service revenue: LAUNDRY & VENDING

    total $29,325 · related or exempt $29,325

  • 3 · Investment income

    total $133,488 · excluded $133,488

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $270,000 · management and general $270,000

  • 7 · Other salaries and wages

    total $14,145,613 · program services $14,145,613

  • 8 · Pension plan contributions

    total $97,128 · program services $97,128

  • 9 · Other employee benefits

    total $633,260 · program services $633,260

  • 10 · Payroll taxes

    total $1,372,827 · program services $1,372,827

  • 11a · Fees: management

    total $2,133,506 · management and general $2,133,506

  • 11b · Fees: legal

    total $536,002 · management and general $536,002

  • 11c · Fees: accounting

    total $65,000 · management and general $65,000

  • 11f · Fees: investment management

    total $8,350 · management and general $8,350

  • 12 · Advertising and promotion

    total $1,136,955 · program services $1,136,955

  • 13 · Office expenses

    total $726,536 · program services $726,536

  • 14 · Information technology

    total $345,840 · program services $345,840

  • 16 · Occupancy

    total $1,907,882 · program services $1,907,882

  • 17 · Travel

    total $52,326 · management and general $52,326

  • 20 · Interest

    total $9,654,944 · program services $9,654,944

  • 22 · Depreciation, depletion and amortization

    total $6,386,430 · program services $6,386,430

  • 23 · Insurance

    total $1,504,044 · program services $1,504,044

  • 24a · Other expenses: RESIDENTS CARE

    total $4,446,975 · program services $4,446,975

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $1,516,060 · program services $1,516,060

  • 24c · Other expenses: MISCELLANEOUS ADMINISTR

    total $822,766 · management and general $822,766

  • 24d · Other expenses: RESIDENT ACTIVITIES

    total $242,642 · program services $242,642

  • 24e · All other expenses

    total $62,319 · program services $62,319

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,611,859 · end of year $4,485,517

  • 2 · Savings and temporary cash investments

    beginning of year $703,491 · end of year $553,752

  • 4 · Accounts receivable

    beginning of year $225,520 · end of year $265,102

  • 9 · Prepaid expenses and deferred charges

    beginning of year $512,736 · end of year $502,774

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

    $229,630,895

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

    $52,631,795

  • 10c · Land, buildings and equipment, net

    beginning of year $179,880,638 · end of year $176,999,100

  • 14 · Intangible assets

    beginning of year $7,401,469 · end of year $6,971,363

  • 15 · Other assets

    beginning of year $5,479,440 · end of year $8,575,835

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,069,188 · end of year $10,658,791

  • 19 · Deferred revenue

    beginning of year $546,779 · end of year $435,574

  • 20 · Tax-exempt bond liabilities

    beginning of year $209,920,000 · end of year $208,085,000

  • 25 · Other liabilities

    beginning of year $4,902,405 · end of year $4,596,330

  • 27 · Net assets without donor restrictions

    beginning of year -$24,623,219 · end of year -$25,422,252

Mission and programs · 2025

Mission

IT IS THE MISSION OF CARDINAL BAY, INC., TO ASSERT EFFORTS TOWARDS DEVELOPING, FINANCING AND OPERATING FOR THE LONG-TERM, QUALITY, STABLE AND HEALTHY, PROGRAM-ENRICHED, AFFORDABLE HOUSING FOR FAMILIES, SENIOR CITIZENS AND PEOPLE WITH SPECIAL NEEDS.

Activities or mission (Part I)

TO ASSERT EFFORTS TOWARDS DEVELOPING, FINANCING AND OPERATING FOR THE LONG-TERM, QUALITY, STABLE AND HEALTHY, PROGRAM-ENRICHED, AFFORDABLE HOUSING FOR INDEPENDENT LIVING, ASSISTED LIVING, AND MEMORY CARE.

  • EIGHT SENIOR LIVING FACILITIES PROVIDING 1,043 QUALITY AFFORDABLE INDEPENDENT LIVING, ASSISTED LIVING, AND MEMORY SUPPORT UNITS FOR SENIOR CITIZENS.

    Expenses $44,179,455 · Revenue $47,134,884

As filed on the 2025 return.

Listed in Part VII

  • Laurence P Dahl

    PRESIDENT, CHAIRMAN

    Total calculated
    $90,000
    From this org
    $90,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Matthew H Pehrson

    SECRETARY

    Total calculated
    $90,000
    From this org
    $90,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Robert E Ogle

    TREASURER

    Total calculated
    $90,000
    From this org
    $90,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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.

Provenance

Return type
form_990
Tax year
2025
Filed
18 September 2026
IRS schema version
2025v4.2
Source object
202622659349300132

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

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