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Nonprofiteer
← FINNISH AMERICAN REST HOME INC

Form 990 for tax year 2023

Filed by FINNISH AMERICAN REST HOME INC.

Totals

Total revenue
$10,267,388
Total expenses
$8,679,050
Contributions and grants received
$644,630
Grants paid
$0
Program service revenue
$9,586,583
Investment income
$36,175
Other revenue
$0
Total assets, end of year
$8,329,720
Total liabilities, end of year
$883,881
Net assets or fund balances, end of year
$7,445,839
Program services expenses (Part IX)
$7,260,012
Management and general expenses
$1,419,038
Fundraising expenses
$0
Program service expenses (Part III)
$7,260,012

Program services were 83.6% 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)

    $534,877

  • 1f · All other contributions, gifts and grants

    $109,753

  • 2a · Program service revenue: Net Resident Service Re

    total $9,538,068 · related or exempt $9,538,068

  • 2b · Program service revenue: Other Resident Services

    total $48,515 · related or exempt $48,515

  • 3 · Investment income

    total $36,175 · related or exempt $36,175

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $4,598,960 · program services $4,369,840 · management and general $229,120

  • 9 · Other employee benefits

    total $202,168 · program services $181,951 · management and general $20,217

  • 10 · Payroll taxes

    total $327,159 · program services $297,715 · management and general $29,444

  • 11b · Fees: legal

    total $250,661 · management and general $250,661

  • 11g · Fees: other

    total $175,290 · program services $175,290

  • 12 · Advertising and promotion

    total $43,027 · management and general $43,027

  • 13 · Office expenses

    total $215,468 · management and general $215,468

  • 14 · Information technology

    total $52,920 · management and general $52,920

  • 16 · Occupancy

    total $1,199,495 · program services $899,621 · management and general $299,874

  • 17 · Travel

    total $19,760 · management and general $19,760

  • 20 · Interest

    total $12,433 · management and general $12,433

  • 22 · Depreciation, depletion and amortization

    total $500,294 · program services $375,220 · management and general $125,074

  • 23 · Insurance

    total $362,806 · program services $272,104 · management and general $90,702

  • 24a · Other expenses: Bank & Merchant Fees

    total $23,420 · management and general $23,420

  • 24b · Other expenses: Entertainment Activities

    total $24,650 · program services $24,650

  • 24c · Other expenses: Dietary - Food

    total $401,310 · program services $401,310

  • 24d · Other expenses: Laundry & Housekeeping

    total $43,567 · program services $43,567

  • 24e · All other expenses

    total $225,662 · program services $218,744 · management and general $6,918

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,968,799 · end of year $1,564,183

  • 2 · Savings and temporary cash investments

    beginning of year $12,923 · end of year $450,000

  • 4 · Accounts receivable

    beginning of year $3,139,755 · end of year $571,984

  • 8 · Inventories for sale or use

    beginning of year $22,891

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

    $8,986,924

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

    $3,243,371

  • 10c · Land, buildings and equipment, net

    beginning of year $679,446 · end of year $5,743,553

  • 12 · Investments: other securities

    beginning of year $278,936

  • 17 · Accounts payable and accrued expenses

    beginning of year $245,249 · end of year $883,881

  • 27 · Net assets without donor restrictions

    beginning of year $5,857,501 · end of year $7,445,839

Mission and programs · 2023

Mission

Operation of a home for the elderly to care for residents in a dignified and friendly manner. It strives to improve the residents quality of life and meet their individual needs.

  • The primary activity of the Organization is to care for its elederly residents in a dignified manner. See schedule O for additional information: Skilled Nursing Facility - The Organization operates a 45 bed skilled nursing home that provides living and medical services to private residents and benificiaries of state and federal programs. Assisted Living Facility - The Organization operates an assisted living facility that has the capacity to provide living and medical services for 120 residents.Nurse Regsitry - The Organization operates a nurse registry that has the capacity to provide healthcare services to private residents in their homes.

    Expenses $7,260,012

As filed on the 2023 return.

Listed in Part VII

  • Daniel Benson

    Executive Director

    Total calculated
    $184,813
    From this org
    $184,813
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,813
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $184,813

  • Tia Wright

    Secretary

    Total calculated
    $0
    Hours/week
    24

  • Lila Lane

    Chair

    Total calculated
    $0
    Hours/week
    8

  • Harry Manner

    Vice Chair

    Total calculated
    $0
    Hours/week
    8

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.

Provenance

Return type
form_990
Tax year
2023
Filed
19 February 2025
IRS schema version
2023v6.0
Source object
202500589349300020

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