Civic Intelligence

Colorado Senior Residences Inc

EIN 27-1953892 • 501(c)3 • Steamboat Springs, CO

Profile

To be viewed as a leader in the senior living continuum of services with warm and inviting residences, dedicated and visionary leadership, professional management and an engaged staff who are committed to an environment of growth and independence.

2855 Owl Hoot TrailSteamboat Springs, CO 80487

www.caseyspond.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

99th percentile

1.80x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

5.70x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

8th percentile

-29%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

25th percentile

-1.3%

Faster asset growth than 25% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

32nd percentile

0.1%

Faster revenue growth than 32% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Down

$43,323,176

Down $588,302 (-1.3%) from 2022

Liabilities

Up

$78,050,742

Up $3,353,350 (+4.5%) from 2022

Net Assets

Down

-$34,727,566

Down $3,941,652 (-13%) from 2022

Revenue

Up

$13,689,667

Up $20,399 (+0.1%) from 2022

Expenses

Up

$17,631,319

Up $1,282,545 (+7.8%) from 2022

Net Income

Down

-$3,941,652

Down $1,262,146 (-47%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0-$50MAssets 2011: $2,741,637Liabilities 2011: $4,200Net Assets 2011: $2,737,4372011Assets 2012: $54,839,925Liabilities 2012: $49,749,379Net Assets 2012: $5,090,5462012Assets 2013: $53,003,461Liabilities 2013: $49,223,305Net Assets 2013: $3,780,1562013Assets 2014: $49,425,743Liabilities 2014: $50,034,826Net Assets 2014: -$609,0832014Assets 2015: $44,509,773Liabilities 2015: $49,894,393Net Assets 2015: -$5,384,6202015Assets 2016: $43,051,806Liabilities 2016: $53,308,340Net Assets 2016: -$10,256,5342016Assets 2017: $42,325,457Liabilities 2017: $56,515,250Net Assets 2017: -$14,189,7932017Assets 2018: $42,276,320Liabilities 2018: $59,436,756Net Assets 2018: -$17,160,4362018Assets 2019: $40,882,003Liabilities 2019: $61,109,505Net Assets 2019: -$20,227,5022019Assets 2020: $40,070,549Liabilities 2020: $64,752,088Net Assets 2020: -$24,681,5392020Assets 2021: $39,996,188Liabilities 2021: $68,102,596Net Assets 2021: -$28,106,4082021Assets 2022: $43,911,478Liabilities 2022: $74,697,392Net Assets 2022: -$30,785,9142022Assets 2023: $43,323,176Liabilities 2023: $78,050,742Net Assets 2023: -$34,727,5662023

Highlighted filing

2023

Assets$43,323,176
Liabilities$78,050,742
Net Assets-$34,727,566

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MExpenses 2011: $122011Expenses 2012: $34,7732012Revenue 2013: $1,735,527Expenses 2013: $3,045,917Net Income 2013: -$1,310,3902013Revenue 2014: $9,825,381Expenses 2014: $14,214,620Net Income 2014: -$4,389,2392014Revenue 2015: $10,058,078Expenses 2015: $14,833,615Net Income 2015: -$4,775,5372015Revenue 2016: $10,154,176Expenses 2016: $15,026,090Net Income 2016: -$4,871,9142016Revenue 2017: $11,080,093Expenses 2017: $15,013,352Net Income 2017: -$3,933,2592017Revenue 2018: $11,945,627Expenses 2018: $14,916,270Net Income 2018: -$2,970,6432018Revenue 2019: $11,845,530Expenses 2019: $14,912,596Net Income 2019: -$3,067,0662019Revenue 2020: $11,134,287Expenses 2020: $15,588,324Net Income 2020: -$4,454,0372020Revenue 2021: $12,218,271Expenses 2021: $15,643,140Net Income 2021: -$3,424,8692021Revenue 2022: $13,669,268Expenses 2022: $16,348,774Net Income 2022: -$2,679,5062022Revenue 2023: $13,689,667Expenses 2023: $17,631,319Net Income 2023: -$3,941,6522023

Highlighted filing

2023

Revenue$13,689,667
Expenses$17,631,319
Net Income-$3,941,652

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$13,689,667
Mission and Program Overview

Mission

To be viewed as a leader in the senior living continuum of services with warm and inviting residences, dedicated and visionary leadership, professional management and an engaged staff who are committed to an environment of growth and independence.

To provide housing, healthcare, & other services to senior citizens through a retirement community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,329,574$31,489,327▼ $840,247
Savings and Temporary Cash Investments$2,742,278$1,023,617▼ $1,718,661
Other Notes and Loans Receivable, Net$730,145$0▼ $730,145
Accounts Receivable$373,273$440,734▲ $67,461
Cash and Non-Interest-Bearing Accounts$110,509$70,843▼ $39,666
Inventories for Sale or Use$18,778$18,778→ $0
Prepaid Expenses and Deferred Charges$91,395$6,379▼ $85,016
Total Assets$43,911,478$43,323,176▼ $588,302
Other Assets Total$7,515,526$10,273,498▲ $2,757,972
Liabilities
Tax Exempt Bond Liabilities$43,168,931$43,231,842▲ $62,911
Other Liabilities$25,532,096$28,718,731▲ $3,186,635
Unsecured Notes Loans Payable$3,500,000$3,500,000→ $0
Accounts Payable and Accrued Expenses$1,009,433$1,549,006▲ $539,573
Deferred Revenue$1,486,932$1,051,163▼ $435,769
Total Liabilities$74,697,392$78,050,742▲ $3,353,350
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-30,785,914$-34,727,566▼ $3,941,652
Total Net Assets Fund Balance$-30,785,914$-34,727,566▼ $3,941,652
Total Liabilities and Net Assets / Fund Balance$43,911,478$43,323,176▼ $588,302

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,691,374$11,056,552$36,747,926
Land$3,777,121-$3,777,121
Equipment$1,670,574$283,239$1,953,813
Other Land Buildings$350,258$105,198$455,456
Other Assets Org$2,203,569--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charles ParsonsPresident
Loui AntonucciVice President
Karen BombergDirector
Marilyn MccaulleyDirector
Renee GilbersonDirector
Brad BoatrightExecutive Director
Jeanine WoosleyExecutive Director
Bj HeubergerSecretary
Karl GillsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Morrison Community LivingDining ServicesPO BOX 102289, Atlanta, GA 30368-2289$2,489,174
Prime Time Healthcare LLCTemporary StaffingPO BOX 3544, Omaha, NE 68103-0544$2,387,865
Cappella Living SolutionsManagement Services9570 S KINGSTON CT STE 300, Englewood, CO 80112$854,225
5 Star Professional CleaningHousekeeping805 PAMELA LANE, Steamboat Springs, CO 80487$254,232
Premier Rehab LLCRehab Therapy Contractor8100 SW NYBERG STREET SUITE 200, Tualatin, OR 97062$215,418
Revenue and Support

Revenue Composition

Contributions and Grants
$87,229
Program Service Revenue
$13,187,028
Investment Income
$365,168
Other Revenue
$50,242
All Other Contributions
$87,229
Change in Net Assets
$-3,941,652

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,689,667
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$13,689,667
Total Revenue per Form 990
$13,689,667
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,273,434
Salaries, Compensation, and Employee Benefits$4,357,885
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$5,031,288$330,525-$5,361,813
Other Salaries and Wages$3,123,067$565,320-$3,688,387
Interest$3,264,281$48,129-$3,312,410
Depreciation Depletion$983,710$14,504-$998,214
Fees for Services Management-$852,567-$852,567
Occupancy$429,346$5,704-$435,050
Other Employee Benefits$319,845$50,767-$370,612
All Other Expenses$22,119$255,327-$277,446
Payroll Taxes$239,111$33,381-$272,492
Fees for Services Legal-$270,395-$270,395
Other Expenses$184,232$221,962-$184,232
Fees for Services Accounting-$98,152-$98,152
Insurance-$97,934-$97,934
Office Expenses$30,819$54,086-$84,905
Advertising$2,567$53,841-$56,408
Travel$4,975$28,715-$33,690
Pension Plan Contributions$22,349$4,045-$26,394
Conferences and Meetings$1,077$9,329-$10,406
Total Functional Expenses$14,631,239$3,000,080$0$17,631,319

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$17,631,319
Total Expenses per Audited Statements$17,631,319
Total Expenses per Form 990$17,631,319
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Bond Interest Payable$24,564,062
Paycheck Protection Program Loan$3,064,600
Other Long Term Liabilities$693,358
Resident Deposits and Advances$250,000
Real Estate Tax Payable$103,000
Security Deposits$23,290
Deposits Held in Escrow$20,421

Bond Issues

BondIssuerIssuedIssue PricePurpose
AColorado Health Facilities Authority2012-05-03$45,110,000CONSTRUCTION OF FACILITY

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$43,710,632--$892,257

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization delegated control of the executive director position to cappella living solutions. Brad boatright and jeanine woosley served as the executive director of the organization and are employees of cappella living solutions. Brad boatright and jeanine woosley were paid through cappella living solutions. Brad's wages were $60,160 and his nontaxable benefits were $7,892. Jeanine's wages were $92,747 and her nontaxable benefits were $502.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the executive committee and then provided to the board members prior to filing the return.

Form 990, Part VI, Section B, Line 12C

Each responsible person has a continuing obligation to (i) scrutinize his or her interests, relationships, positions or circumstances, both direct and indirect, to identify any apparent or actual conflicts of interest; and (ii) disclose the conflict of interest as soon as it is known. Disclosure is required annually, and whenever a responsible person becomes aware of an actual or apparent conflict of interest that has not previously been disclosed. In cases where a responsible person feels a conflict arises that is not part of the annual disclosure, he/she shall report the circumstance to the chair of the board. If a conflict of interest exists, the responsible person must excuse himself or herself from discussion, deliberation and debate on the matter.

Form 990, Part VI, Section C, Line 19

The governing documents and conflict of interest policy are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Colorado Senior Residences Inc
EIN
27-1953892
Phone
9708798855
Address
2855 OWL HOOT TRAIL, STEAMBOAT SPRINGS, CO 80487
Doing Business As
CASEY'S POND SENIOR LIVING

Signing Officer

Name
Charles Parsons
Title
President
Phone
9708798855
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chuck Parsons
Formed
2010
Legal Domicile
Co
Voting Board Members
7
Independent Board Members
7
Employees
107
Volunteers
14

Preparer

Firm
Plante & Moran Pllc
Address
8181 E TUFTS AVE SUITE 600, DENVER, CO 80237
Preparer
Ryan C Harris
Phone
3037409400
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 2B:

Casey's pond uses a peo, which files forms w-2 on behalf of the organization.

Form 990, Part IX, Line 11G

Therapy: program service expenses 175,770. Management and general expenses 52,800. Fundraising expenses 0. Total expenses 228,570. Nursing: program service expenses 2,944,301. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,944,301. Contracted labor: program service expenses 77,153. Management and general expenses 271,241. Fundraising expenses 0. Total expenses 348,394. Pharmacy: program service expenses 0. Management and general expenses 6,484. Fundraising expenses 0. Total expenses 6,484. Purchased services: program service expenses 144,146. Management and general expenses 0. Fundraising expenses 0. Total expenses 144,146. Culinary services: program service expenses 1,689,918. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,689,918.

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