Civic Intelligence

Bell Tower Residence Inc

990 • Fiscal year 2017 • EIN 39-1672100

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 13, 2017

1500 Oday StreetMerrill, WI 54452

(715) 536-5575

Siviq Scores

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

Liabilities / Assets

51st percentile

0.17x

Higher debt load relative to assets than 51% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

42nd percentile

0.12x

Higher debt load relative to revenue than 42% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

24th percentile

-5.3%

Higher net margin than 24% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

31st percentile

$79,816

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

10th percentile

-8.5%

Faster asset growth than 10% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

29th percentile

-2.4%

Faster revenue growth than 29% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Down

$3,411,413

Down $315,210 (-8.5%) from 2016

Net Assets

Down

$2,827,350

Down $232,334 (-7.6%) from 2016

Liabilities

Down

$584,063

Down $82,876 (-12%) from 2016

Revenue

Down

$4,892,943

Down $122,667 (-2.4%) from 2016

Expenses

Up

$5,150,767

Up $87,277 (+1.7%) from 2016

Net Income

Down

-$257,824

Down $209,944 (-438%) from 2016

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $2,844,154Liabilities 2011: $564,458Net Assets 2011: $2,279,6962011Assets 2012: $2,932,937Liabilities 2012: $903,573Net Assets 2012: $2,029,3642012Assets 2013: $3,501,305Liabilities 2013: $1,085,774Net Assets 2013: $2,415,5312013Assets 2014: $4,699,073Liabilities 2014: $1,308,119Net Assets 2014: $3,390,9542014Assets 2015: $4,632,496Liabilities 2015: $1,162,025Net Assets 2015: $3,470,4712015Assets 2016: $3,726,623Liabilities 2016: $666,939Net Assets 2016: $3,059,6842016Assets 2017: $3,411,413Liabilities 2017: $584,063Net Assets 2017: $2,827,3502017Assets 2018: $3,604,714Liabilities 2018: $376,700Net Assets 2018: $3,228,0142018

Highlighted filing

2017

Assets$3,411,413
Liabilities$584,063
Net Assets$2,827,350

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $3,569,244Expenses 2011: $3,860,070Net Income 2011: -$290,8262011Expenses 2012: $4,059,6702012Revenue 2013: $4,174,430Expenses 2013: $4,188,462Net Income 2013: -$14,0322013Revenue 2014: $4,650,608Expenses 2014: $4,232,836Net Income 2014: $417,7722014Revenue 2015: $4,714,630Expenses 2015: $4,508,871Net Income 2015: $205,7592015Revenue 2016: $5,015,610Expenses 2016: $5,063,490Net Income 2016: -$47,8802016Revenue 2017: $4,892,943Expenses 2017: $5,150,767Net Income 2017: -$257,8242017Revenue 2018: $5,611,472Expenses 2018: $4,967,264Net Income 2018: $644,2082018

Highlighted filing

2017

Revenue$4,892,943
Expenses$5,150,767
Net Income-$257,824
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$5,947,973
Mission and Program Overview

Mission

Bell tower residence is a nonprofit, faith-based assisted living community that promotes the physical, mental and spiritual well-being of each resident in a safe, caring environment. For over 100 years the sisters of mercy of the holy cross have carried out their mission of responding to human need. Bell tower residence was established in 1990 to carry out that mission for the elderly in merrill, wi. The florence huss memorial fund for bell tower residents is one expression of that commitment and was established to benefit the low income residents of bell tower residence. The decisions about support for low income residents are based upon defined criteria. In 2014 $32,664 was provided to needy residents.

Organized and operated exclusively for the charitable and religious purpose to support the ministries of the sisters of mercy of the holy cross of merrill, wisconsin.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,598,437$2,683,156▲ $84,719
Land, Buildings, and Equipment, Net$507,852$464,167▼ $43,685
Accounts Receivable$116,904$131,444▲ $14,540
Savings and Temporary Cash Investments$262,378$59,007▼ $203,371
Prepaid Expenses and Deferred Charges$84,607$39,122▼ $45,485
Inventories for Sale or Use$22,010$19,242▼ $2,768
Cash and Non-Interest-Bearing Accounts$133,175$14,015▼ $119,160
Total Assets$3,726,623$3,411,413▼ $315,210
Other Assets Total$1,260$1,260→ $0
Liabilities
Accounts Payable and Accrued Expenses$666,939$584,063▼ $82,876
Total Liabilities$666,939$584,063▼ $82,876
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,370,794$1,283,908▼ $86,886
Unrestricted Net Assets$1,170,199$1,022,036▼ $148,163
Permanently Rstr Net Assets$518,691$521,406▲ $2,715
Total Net Assets Fund Balance$3,059,684$2,827,350▼ $232,334
Total Liabilities and Net Assets / Fund Balance$3,726,623$3,411,413▼ $315,210

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$440,579$939,233$1,379,812
Leasehold Improvements$23,588$89,439$113,027

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$1,881,309$2,715▲ $230,238$316,986$1,797,276
2016$1,977,606$1,975▲ $15,835$114,107$1,881,309
2015$2,472,047$3,057▲ $47,253$544,751$1,977,606
2014$2,014,801$10,110▲ $502,346$55,210$2,472,047
2013$1,612,830$11,530▲ $447,248$56,807$2,014,801
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kris McgarigleAdministratorFT$73,092$6,724$79,816

Board Members and Trustees

NameTitle
Barbara HansonPresident
David CooperVice President
Breigh VoigtBoard Member
James Noel BushorBoard Member
Kathy GrahamBoard Member
Mark ZulligerBoard Member
Michael GeislerBoard Member
Sr Marla LangBoard Member
Vincent GeislerBoard Member
Pat Cormack ScscEx-officio
Sr Peggy JackelenSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Quality Care Staffing SolutionStaffing ServicesPO BOX 43, Chetek, WI 54728$272,090
Franciscan Advisory ServicesManagement Advisory Services11500 THERESA DRIVE, Lemont, IL 60439$245,665
Revenue and Support

Revenue Composition

Contributions and Grants
$98,875
Program Service Revenue
$4,464,774
Investment Income
$329,294
Other Revenue
$0
All Other Contributions
$98,875
Change in Net Assets
$-257,824

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,892,943
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$596,204
Total Revenue per Audited Statements
$5,489,147
Total Revenue per Form 990
$4,892,943
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,811,143
Other Expenses$2,339,624
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,994,088$226,203-$2,220,291
Fees for Services Other$520,539$21,282-$541,821
Occupancy$473,639--$473,639
Other Employee Benefits$251,708$52,251-$303,959
Fees for Services Management-$234,984-$234,984
Payroll Taxes$148,584$23,154-$171,738
Insurance-$148,389-$148,389
Current Officers, Directors, Trustees, and Key Employees-$104,754-$104,754
All Other Expenses$55,805$36,869-$92,674
Depreciation Depletion$80,937--$80,937
Fees for Services Accounting-$61,472-$61,472
Office Expenses-$59,684-$59,684
Other Expenses$44,783$69,615-$44,783
Fees for Service Investment Mgmnt Fees-$15,347-$15,347
Pension Plan Contributions$7,368$3,033-$10,401
Advertising-$10,272-$10,272
Travel$4,827$1,755-$6,582
Fees for Services Legal-$388-$388
Total Functional Expenses$4,081,315$1,069,452$0$5,150,767

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,721,481
Expenses per Audited Statements$5,150,767
Total Expenses per Form 990$5,150,767
Expenses Not Reported on Form 990$570,714
Expenses Not Reported on Financial Statements$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
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

Board members vincent geisler and michael geisler are father and son.

Form 990, Part VI, Section A, Line 3

Bell tower does have a contract with franciscan advisory services for management.

Form 990, Part VI, Section A, Line 6

The sole corporate member of bell tower residence, inc is sisters of mercy of the holy cross of merrill, wi.

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

The sole corporate member, sisters of mercy of the holy cross of merrill, wi, has the power to appoint and remove directors and fill vacancies on the board of directors of bell tower residence.

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

The member, sisters of mercy of the holy cross of merrill, wi shall have the following reserved powers: approve any statement of mission, objectives, purose or philosophy of the corporation. Elect or remove the directors, officers and chief executives of the corporation. Approve all articles of incorporation and by-laws, or any amendments thereof. Approve the aquisition, incorporation, or dissolution of all corporations and mergers involving the corporation. Approve all loans and indebtedness in accordance with requirements established from time to time. Approve the lease, sale or encumbrance of real estate. Approve the addition or termination of major services of the corporation and its subsidiaries. Approve capital and operating budgets. Select the independent auditors.

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

A copy of form 990 was reviewed by the finance committee and the bell tower residence board prior to filing.

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

In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the intersted person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest.

Form 990, Part VI, Section B, Line 15A

The board's personnel committee evaluates the administrator annually and presents to board for approval of salary. There are no other officers or key employees to be evaluated.

Form 990, Part VI, Section C, Line 19

The organization's governing documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Bell Tower Residence Inc
EIN
39-1672100
Phone
7155365575
Address
1500 ODAY STREET, MERRILL, WI 54452

Signing Officer

Name
Sister Peggy Jackelen
Title
Secretary
Phone
7155365575
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sister Peggy Jackelen
Formed
1990
Legal Domicile
Wi
Voting Board Members
11
Independent Board Members
11
Employees
164
Volunteers
102

Preparer

Firm
Kerber Eck & Braeckel Llp
Address
125 SOUTH 84TH STREET SUITE 100, MILWAUKEE, WI 53214-1498
Preparer
Christian a Slaats
Phone
4144561099
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Pastoral care - hcs employee : program service expenses 12,641. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,641. Prof. Care-aides - temps : program service expenses 507,898. Management and general expenses 0. Fundraising expenses 0. Total expenses 507,898. Admin secretary-hcs : program service expenses 0. Management and general expenses 21,282. Fundraising expenses 0. Total expenses 21,282.

Financial Statement Notes

PART X, LINE 2:

Bell tower follows accounting principles generally accepted in the united states of america, which sets a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Tax positions for the open tax years as of june 30, 2017 were reviewed, and it was determined that no provision for uncertain tax positions is required. Bell tower's information income tax returns for years subsequent to fiscal year 2013 are open, by statute, for review by authorities.

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IRS990/Desc0BELL TOWER RESIDENCE PROVIDES HOUSING AND SUPPORT FACILITIES AND SERVICES FOR THE ELDERLY OF THE MERRILL, WISCONSIN AREA. BELL TOWER RESIDENCE'S ASSISTED LIVING PROGRAMS PROVIDE RESIDENTS WITH A COMMUNITY LIVING EXPERIENCE WHICH OFFERS A COMFORTABLE AND SAFE HOME-LIKE ENVIRONMENT; ENCOURAGES THE HIGHEST LEVEL OF INDEPENDENT FUNCTIONING OF THE INDIVIDUAL; OFFERS MEANINGFUL OPPORTUNITIES FOR THE CONTINUATION OF COMMUNITY, CHURCH AND SOCIAL INVOLVEMENT; PROMOTES A VITAL SENSE OF COMMUNITY AND BELONGING THROUGH SHARED DAILY LIVING, RECREATIONAL AND SOCIAL EXPERIENCE; RECOGNIZES AND RESPONDS TO THE SPECIAL PHYSICAL, EMOTIONAL, INTELLECTUAL AND SPIRITUAL NEEDS OF THE ELDERLY; ENCOURAGES FAMILY-CENTERED EXPERIENCES WITHIN THE CONTEXT OF COMMUNITY LIVING. IN THE FISCAL YEAR 2017, BELL TOWER RESIDENCE SERVED 118 RESIDENTS.
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