Civic Intelligence

The Homestead at Anoka Inc

EIN 27-3338560 • 501(c)3 • Eden Prairie, MN

Refreshing map…

7485 Office Ridge CircleEden Prairie, MN 55344

www.voa.org

Siviq Scores

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

Liabilities / Assets

95th percentile

1.09x

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

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

2.09x

Higher debt load relative to revenue than 85% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

47th percentile

3.8%

Higher net margin than 47% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

84th percentile

$825,085

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

27th percentile

0.2%

Faster asset growth than 27% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

50th percentile

8.7%

Faster revenue growth than 50% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Down

$54,244,206

Down $2,448,545 (-4.3%) from 2021

Liabilities

Down

$60,096,664

Down $2,530,906 (-4.0%) from 2021

Net Assets

Up

-$5,852,458

Up $82,361 (+1.4%) from 2021

Revenue

Up

$25,397,142

Up $3,231,976 (+15%) from 2021

Expenses

Up

$25,314,426

Up $3,257,151 (+15%) from 2021

Net Income

Down

$82,716

Down $25,175 (-23%) from 2021

Trend Graphs

Balance Sheet Trend

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

$80M$60M$40M$20M$0-$20MAssets 2014: $38,627,708Liabilities 2014: $40,426,022Net Assets 2014: -$1,798,3142014Assets 2015: $60,337,733Liabilities 2015: $61,283,681Net Assets 2015: -$945,9482015Assets 2016: $59,725,997Liabilities 2016: $60,742,145Net Assets 2016: -$1,016,1482016Assets 2017: $55,604,343Liabilities 2017: $63,769,904Net Assets 2017: -$8,165,5612017Assets 2018: $55,115,589Liabilities 2018: $63,127,392Net Assets 2018: -$8,011,8032018Assets 2019: $55,767,442Liabilities 2019: $62,852,900Net Assets 2019: -$7,085,4582019Assets 2020: $56,102,899Liabilities 2020: $62,145,609Net Assets 2020: -$6,042,7102020Assets 2021: $56,692,751Liabilities 2021: $62,627,570Net Assets 2021: -$5,934,8192021Assets 2022: $54,244,206Liabilities 2022: $60,096,664Net Assets 2022: -$5,852,4582022

Highlighted filing

2022

Assets$54,244,206
Liabilities$60,096,664
Net Assets-$5,852,458

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2014: $15,948,879Expenses 2014: $17,182,707Net Income 2014: -$1,233,8282014Revenue 2015: $17,932,357Expenses 2015: $17,079,991Net Income 2015: $852,3662015Revenue 2016: $18,986,092Expenses 2016: $19,056,292Net Income 2016: -$70,2002016Revenue 2017: $14,572,374Expenses 2017: $21,721,787Net Income 2017: -$7,149,4132017Revenue 2018: $22,852,349Expenses 2018: $22,698,591Net Income 2018: $153,7582018Revenue 2019: $23,989,035Expenses 2019: $23,062,688Net Income 2019: $926,3472019Revenue 2020: $23,779,649Expenses 2020: $22,736,901Net Income 2020: $1,042,7482020Revenue 2021: $22,165,166Expenses 2021: $22,057,275Net Income 2021: $107,8912021Revenue 2022: $25,397,142Expenses 2022: $25,314,426Net Income 2022: $82,7162022

Highlighted filing

2022

Revenue$25,397,142
Expenses$25,314,426
Net Income$82,716

Filings

Latest Detailed Filing

The latest 2022 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 2, 2022
Return Version
2020v4.2
Gross Receipts
$22,165,166
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$39,109,977$37,734,927▼ $1,375,050
Cash and Non-Interest-Bearing Accounts$2,972,449$2,411,439▼ $561,010
Accounts Receivable$2,436,620$2,136,087▼ $300,533
Prepaid Expenses and Deferred Charges$341,306$767,683▲ $426,377
Savings and Temporary Cash Investments$425,370$417,364▼ $8,006
Inventories for Sale or Use$78,433$77,855▼ $578
Total Assets$56,102,899$56,692,751▲ $589,852
Other Assets Total$10,738,744$13,147,396▲ $2,408,652
Liabilities
Tax Exempt Bond Liabilities$59,699,737$58,702,630▼ $997,107
Accounts Payable and Accrued Expenses$2,276,135$2,137,849▼ $138,286
Deferred Revenue$121,212$1,738,787▲ $1,617,575
Other Liabilities$48,525$48,304▼ $221
Total Liabilities$62,145,609$62,627,570▲ $481,961
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-6,042,710$-5,934,819▲ $107,891
Total Net Assets Fund Balance$-6,042,710$-5,934,819▲ $107,891
Total Liabilities and Net Assets / Fund Balance$56,102,899$56,692,751▲ $589,852

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$33,754,188$7,298,728$41,052,916
Equipment$1,389,095$3,416,980$4,806,075
Land$2,050,805-$2,050,805
Leasehold Improvements$540,839$341,742$882,581
Other Land Buildings$0$103,592$103,592
Other Assets Org$6,440,636--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wambugu PatrickRegistered NurseFT$283,871$27,934$311,805
Dolinsky DouglasExecutive DirectorFT$113,326$79,813$193,139
Nutz FaithAsst. Secretary/treasurer--$136,926$136,926
Nyema KorpoNurse ManagerFT$106,907$7,486$114,393
Achochi FelistherRegistered NurseFT$106,743-$106,743
Massaquoi MaimaCertified Nursing AssistantFT$101,728$933$102,661

Board Members and Trustees

NameTitle
ArnoldpattiChairperson
King Michael WPresident
Rase NancyVice Chair
Bloom ShawnDirector
Carrington EdwinaDirector
Dale KarenDirector
Edeburn AndrewDirector
Knapp KeithDirector
Leblanc JamesDirector
Mullen BethDirector
Perkins DerrickDirector
Petersen JeanneDirector
Wakefield StephenDirector
Budzynski Joseph aAsst. Secretary/treasurer
Desjardins Peter JAsst. Secretary/treasurer
Gavin Nancy aAsst. Secretary/treasurer
King Kimberly BAsst. Secretary/treasurer
Wilson Geno SharonAsst. Secretary/treasurer
Olson Wayne CEvp - Healthcare
Sheridan Patrick NEvp - Housing
Dolan ThomasSecretary
Nickell Jacci JSVP - Healthcare Opt.
Soczynski Paul FSVP - Healthcare Program Dev
Burks JaneTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Centrex RehabContract Therapy Provider1007 E 14TH ST, Minneapolis, MN 55404$1,566,189
Volunteers Of America National ServicesManagement7485 OFFICE RIDGE CIRCLE, Eden Prairie, MN 55344$990,841
Ameripride ServicesLaundry ServicesPO BOX 518, Bemidji, MN 56619-0518$118,854
Revenue and Support

Revenue Composition

Contributions and Grants
$1,373,369
Program Service Revenue
$20,740,856
Investment Income
$50,941
Other Revenue
$0
All Other Contributions
$2,850
Change in Net Assets
$107,891

Audited Revenue Reconciliation

Revenue per Audited Statements
$22,165,166
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$22,165,166
Total Revenue per Form 990
$22,165,166
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,446,213
Salaries, Compensation, and Employee Benefits$9,611,062
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,755,914$204,217-$7,960,131
Fees for Services Other$2,480,424$927,531-$3,407,955
Interest$3,017,577$1,029-$3,018,606
Depreciation Depletion$1,646,020$15,587-$1,661,607
Other Employee Benefits$981,081$36,759-$1,017,840
Occupancy$828,179$8,798-$836,977
Payroll Taxes$535,343--$535,343
Office Expenses$471,565--$471,565
Insurance$369,880$3,736-$373,616
Other Expenses$202,187$2,208-$204,395
Information Technology$153,868--$153,868
All Other Expenses$145,567--$145,567
Pension Plan Contributions$97,748--$97,748
Advertising$26,523--$26,523
Fees for Services Accounting$15,003--$15,003
Travel$1,883--$1,883
Fees for Services Legal$1,646--$1,646
Conferences and Meetings$611--$611
Total Functional Expenses$20,857,410$1,199,865$0$22,057,275

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$22,057,275
Total Expenses per Audited Statements$22,057,275
Total Expenses per Form 990$22,057,275
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
Third Party Payors$48,304

Bond Issues

BondIssuerIssuedIssue PricePurpose
BCity of Anoka Mn Series 20172017-02-23$40,237,294To advance refund the series 2011 bonds and fund the costs of issuance
ACity of Anoka Mn Series 20142014-12-16$21,971,837Finance three-story expansion

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$40,237,294-$1,565,000$795,314
A$21,971,837-$880,000$439,436

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
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Michael king, sharon wilson geno, joseph budzynski, patrick sheridan, kimberly king, jacci nickell, nancy gavin, paul soczynski, peter desjardins, wayne olson, and faith nutz have business relationships with each other, because they serve as directors, officers, and/or key employees of volunteers of america, inc., volunteers of america national services, and/or their related organizations.

Form 990, Part VI, Section A, Line 6

Voa care centers minnesota is a member. Voa national services is a member of voa care centers minnesota.

Form 990, Part VI, Section A, Line 7A

Voa national services can elect or appoint directors.

Form 990, Part VI, Section A, Line 7B

Voa national services approves amendments to the articles and bylaws.

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

The tax return is provided to the board of directors for review. The board has 5 days to review and give comments on the return. After the comment period, any changes will be made to the return. The board of directors is then provided a complete copy of the final return upon filing.

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

The policy requires officers, directors and key employees to disclose annually interests that could give rise to conflicts. The policy and disclosure form are distributed and collected annually, and individuals are required to update the disclosure form throughout the year in the event potential conflicts arise. Potential conflicts of interest are reviewed by the board of directors and may require said officer, director and key employee to recuse from participation to avoid a conflict of interest.

Form 990, Part VI, Section B, Line 15

The organization's president and ceo is not compensated by the organization but is compensated by a related organization, volunteers of america, inc. Volunteers of america's process for determining compensation of the organization's president and ceo, officers, and key employees includes review and approval by a compensation committee formed of independent members appointed by the board of directors. The compensation committee conducts a market compensation analysis review every year and reports their conclusions to the board of directors.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Homestead at Anoka Inc
EIN
27-3338560
Phone
9529410305
Address
7485 OFFICE RIDGE CIRCLE, EDEN PRAIRIE, MN 55344

Signing Officer

Name
Nancy Gavin
Title
VP Financial Services
Phone
9529410305
Signed
2022-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Budzynski
Formed
2010
Legal Domicile
Mn
Voting Board Members
15
Independent Board Members
14
Employees
314
Volunteers
14

Preparer

Firm
Baker Tilly US Llp
Address
225 S 6TH ST 2300, MINNEAPOLIS, MN 55402
Preparer
Lawrence H Mohr CPA
Phone
6128764500
Supplemental Narrative

Additional Explanations

PART I, LINE 1 AND PART III, LINE 1:

Established in 1896, volunteers of america is a national, nonprofit, faith-based organization providing services such as housing and healthcare to more than 2 million people in over 400 communities each year. In support of that mission, the homestead at anoka inc was organized and is operated to engage in, advance, support, promote, and administer health and health-related services and supportive services to seniors and disabled individuals.

Form 990, Part IX, Line 11G

Consulting: program service expenses 1,580,198. Total expenses 1,580,198. Management: management and general expenses 927,531. Total expenses 927,531. Purchased services from voa affiliates: program service expenses 773,081. Total expenses 773,081. Payroll processing: program service expenses 34,383. Total expenses 34,383. Other professional services: program service expenses 92,762. Total expenses 92,762.

Financial Statement Notes

PART X, LINE 2:

The organization has evaluated its tax positions for uncertainty and has no unrecognized tax matters that are required to be disclosed. The organization had no income tax expense and there were no cash payments for income taxes in 2021 and 2020.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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