Civic Intelligence

Phm Inver Grove Inc.

990 • Fiscal year 2016 • EIN 31-1725017

Oct 01, 2015 to Sep 30, 2016 • Filed on Aug 10, 2017

Organization ProfileWWW.PRESHOMES.ORG
2845 N Hamline AveRoseville, MN 55113

(651) 631-6162

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

90th percentile

0.92x

Higher debt load relative to assets than 90% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

91st percentile

3.61x

Higher debt load relative to revenue than 91% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

76th percentile

14%

Higher net margin than 76% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

92nd percentile

$869,864

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 9.8% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

44th percentile

1.0%

Faster asset growth than 44% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

46th percentile

1.6%

Faster revenue growth than 46% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$34,923,775

Up $350,171 (+1.0%) from 2015

Net Assets

Up

$2,814,188

Up $1,239,846 (+79%) from 2015

Liabilities

Down

$32,109,587

Down $889,675 (-2.7%) from 2015

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin76th percentile

Revenue

Up

$8,896,748

Up $140,328 (+1.6%) from 2015

Expenses

Up

$7,656,902

Up $87,669 (+1.2%) from 2015

Net Income

Up

$1,239,846

Up $52,659 (+4.4%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0-$20MAssets 2010: $33,475,352Liabilities 2010: $36,572,687Net Assets 2010: -$3,097,3352010Assets 2011: $34,098,951Liabilities 2011: $36,612,050Net Assets 2011: -$2,513,0992011Assets 2012: $34,317,046Liabilities 2012: $36,019,002Net Assets 2012: -$1,701,9562012Assets 2013: $34,468,598Liabilities 2013: $35,213,451Net Assets 2013: -$744,8532013Assets 2014: $34,585,493Liabilities 2014: $34,198,338Net Assets 2014: $387,1552014Assets 2015: $34,573,604Liabilities 2015: $32,999,262Net Assets 2015: $1,574,3422015Assets 2016: $34,923,775Liabilities 2016: $32,109,587Net Assets 2016: $2,814,1882016Assets 2018: $35,770,244Liabilities 2018: $30,364,524Net Assets 2018: $5,405,7202018Assets 2021: $38,189,716Liabilities 2021: $27,352,194Net Assets 2021: $10,837,5222021Assets 2022: $38,368,755Liabilities 2022: $26,098,566Net Assets 2022: $12,270,1892022Assets 2024: $40,719,304Liabilities 2024: $24,025,475Net Assets 2024: $16,693,8292024

Highlighted filing

2016

Assets$34,923,775
Liabilities$32,109,587
Net Assets$2,814,188
Open 2016 Filing

Operations Trend

Revenue Growth46th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0Expenses 2010: $7,132,2102010Expenses 2011: $7,309,1592011Expenses 2012: $7,363,6332012Expenses 2013: $7,280,5122013Revenue 2014: $8,556,258Expenses 2014: $7,424,250Net Income 2014: $1,132,0082014Revenue 2015: $8,756,420Expenses 2015: $7,569,233Net Income 2015: $1,187,1872015Revenue 2016: $8,896,748Expenses 2016: $7,656,902Net Income 2016: $1,239,8462016Revenue 2018: $9,023,953Expenses 2018: $7,658,095Net Income 2018: $1,365,8582018Revenue 2021: $10,046,692Expenses 2021: $7,993,990Net Income 2021: $2,052,7022021Revenue 2022: $10,242,112Expenses 2022: $8,809,445Net Income 2022: $1,432,6672022Revenue 2024: $11,886,771Expenses 2024: $9,494,873Net Income 2024: $2,391,8982024

Highlighted filing

2016

Revenue$8,896,748
Expenses$7,656,902
Net Income$1,239,846
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Aug 10, 2017
Return Version
2015v3.0
Gross Receipts
$8,903,109
Mission and Program Overview

Mission

The mission of the organization is to honor god by enriching the lives and touching the hearts of older adults.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,304,900$23,444,777▼ $860,123
Savings and Temporary Cash Investments$8,055,710$9,150,265▲ $1,094,555
Investments Other Securities$1,746,199$1,906,972▲ $160,773
Intangible Assets$346,551$316,347▼ $30,204
Prepaid Expenses and Deferred Charges$55,714$55,832▲ $118
Accounts Receivable$64,530$49,022▼ $15,508
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$34,573,604$34,923,775▲ $350,171
Other Assets Total-$560-
Liabilities
Tax Exempt Bond Liabilities$25,035,000$24,335,000▼ $700,000
Escrow Account Liability$7,007,468$6,808,079▼ $199,389
Accounts Payable and Accrued Expenses$955,566$966,508▲ $10,942
Other Liabilities$1,228--
Total Liabilities$32,999,262$32,109,587▼ $889,675
Net Assets / Fund Balance
Unrestricted Net Assets$1,574,342$2,814,188▲ $1,239,846
Total Net Assets Fund Balance$1,574,342$2,814,188▲ $1,239,846
Total Liabilities and Net Assets / Fund Balance$34,573,604$34,923,775▲ $350,171

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,411,150$11,406,228$28,817,378
Land$4,413,913-$4,413,913
Leasehold Improvements$1,142,305$2,078,917$3,221,222
Equipment$477,409$2,716,527$3,193,936
Compensation and Service Providers
Top Officer Pay92nd percentile

Board Members and Trustees

NameTitle
Dan LindhBoard Chair/CEO
Karen MckennaExecutive Director Human Resources
Sharon KlefsaasExecutive Director Operations
Mark MeyerSec/treas/CFO
John MehrkensVP Development
Michael BinghamVP Optage/shp

Highest Paid Contractors

ContractorServicesLocationCompensation
Phs Management LLCManagement Fee2845 N HAMLINE AVE, Roseville, MN 55113$488,999
Revenue and Support

Revenue Composition

Contributions and Grants
$39,727
Program Service Revenue
$8,635,120
Investment Income
$3,279
Other Revenue
$218,622
Change in Net Assets
$1,239,846
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,985,609
Salaries, Compensation, and Employee Benefits$2,666,266
Grants and Similar Amounts Paid$5,027
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,937,250$256,632-$2,193,882
Interest$1,415,223--$1,415,223
Depreciation Depletion$1,183,135--$1,183,135
Occupancy$692,800--$692,800
Fees for Services Management-$488,999-$488,999
Other Employee Benefits$243,293$33,176-$276,469
Payroll Taxes$141,657$19,317-$160,974
Insurance-$140,857-$140,857
Office Expenses-$99,888-$99,888
Other Expenses$55,336$44,061-$55,336
Information Technology-$50,173-$50,173
Pension Plan Contributions$30,748$4,193-$34,941
Advertising-$7,257-$7,257
Grants to Domestic Individuals$5,027--$5,027
Travel-$4,609-$4,609
Fees for Services Accounting-$4,500-$4,500
Conferences and Meetings$1,780$243-$2,023
Fees for Services Legal-$105-$105
Total Functional Expenses$6,502,892$1,154,010$0$7,656,902
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Inver Grove Minnesota2005-05-19$30,290,000REFINANCE 2001 DEBT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$30,290,000-$5,955,000-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
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
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Phs management, llc provides management services for the organization. Phs management, llc provides financial accounting, operational oversight, human resources, information technology, clinical nursing consultation, corporate compliance, coordinated advertising and marketing, staffing for fund development, and new business development.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The sole member of the organization is presbyterian homes housing & assisted living, inc.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The organization's 990 is provided to voting members of the governing body prior to filing with the irs. Officers and management of the organization have been involved in the preparation of the 990 and have reviewed the 990 throughout the process.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization obtains annually written disclosure from governing body members, officers and key employees. Management and officers review these disclosures and evaluate whether the interest could result in a conflict and then take the necessary steps to remediate any such conflict.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes available its governing documents and conflict of interest policy upon request. Financial statements are available on the organization's website.”

Form 990, Part VII, Section A

“Sharing of hoursofficers & key employees share their hours between the filing organization and its related organizations.”

Filing and Contact Details

Filer

Filer Name
Phsinver Grove Inc
EIN
31-1725017
Phone
6516316162
Address
2845 N HAMLINE AVE, ROSEVILLE, MN 55113

Signing Officer

Name
Mark Meyer
Title
CFO
Signed
2017-08-10

Organization Details

Principal Officer
Mark Meyer
Formed
2000
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
53
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

“The organization holds tenant security deposits for its residents. Money is held in a segragated damage deposit account and earns interest while it is held. Residents receive a refund of their damage deposit upon discharge, after any deductions for necessary repairs and damages.resident notes are reported as long term asset and liability, respectively on the statements of the financial position. The contracts with the residents limit the total amount of deposits that the organization must return at ay one time. The maximum amounts is $250,000. If at any time the net amount it has been returned to former residents exceeds the amount that it has received from new tenants by the applicable maximum amount, the orgaization is not required to refund additional deposits until new deposits are collected bringing the amount owed under maximum amount.”

Part X : FIN48 Footnote

“The organization and its affiliates are generally exempt from income taxes under section 501(c)(3) of the internal revenue code and applicable sections of the state statutes; consequently, no provision has been made for income taxes. However, there are immaterial amounts of unrelated business income in certain affiliates that are taxable.the organization follows the accounting standard for contingencies in evaluating uncertain tax positions. The organization files information returns as a tax-exempt organization. Should that status be challenged in the future, all years since inception could be subject to review by the irs.”

Raw XML AppendixShowing 400 of 622 raw XML fields

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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IRS990/PrincipalOfficerNm0MARK MEYER
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IRS990/PYOtherRevenueAmt0172083
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IRS990/PYTotalRevenueAmt08756420
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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt042661
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0116763
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0553
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt08091965
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt08083254
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt041772312
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt018149
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt069556
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0576
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0553
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IRS990ScheduleA/InvestmentIncomePYPct00.00010
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt048308
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$34,923,775
Liabilities
$32,109,587
Net assets
$2,814,188
Revenue
$8,896,748
Expenses
$7,656,902
Net income
$1,239,846
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.7$24.0$16.7$11.9$9.49$2.39
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.4$26.1$12.3$10.2$8.81$1.43
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.2$27.4$10.8$10.0$7.99$2.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.8$30.4$5.41$9.02$7.66$1.37
2016Detailed filing. Detailed filing data is available for this year.$34.9$32.1$2.81$8.90$7.66$1.24
2015Detailed filing. Detailed filing data is available for this year.$34.6$33.0$1.57$8.76$7.57$1.19
2014Detailed filing. Detailed filing data is available for this year.$34.6$34.2$0.39$8.56$7.42$1.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.5$35.2$0.74$7.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.3$36.0$1.70$7.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.1$36.6$2.51$7.31
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.5$36.6$3.10$7.13