Civic Intelligence

Cokato Charitable Trust

990 • Fiscal year 2017 • EIN 41-1456124

Oct 01, 2016 to Sep 30, 2017 • Filed on Feb 02, 2018

182 Sunset Avenue NWCokato, MN 55321

(320) 286-3103

Siviq Scores

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

Liabilities / Assets

86th percentile

0.78x

Higher debt load relative to assets than 86% of similar nonprofits.

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

Liabilities / Revenue

81st percentile

1.01x

Higher debt load relative to revenue than 81% of similar nonprofits.

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

Net Margin

58th percentile

5.6%

Higher net margin than 58% of similar nonprofits.

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

Top Officer Pay

42nd percentile

$104,078

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

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

Asset Growth

27th percentile

-1.9%

Faster asset growth than 27% of similar nonprofits.

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

Revenue Growth

65th percentile

12%

Faster revenue growth than 65% of similar nonprofits.

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

Assets

Down

$9,609,709

Down $188,032 (-1.9%) from 2016

Net Assets

Up

$2,066,379

Up $391,442 (+23%) from 2016

Liabilities

Down

$7,543,330

Down $579,474 (-7.1%) from 2016

Revenue

Up

$7,451,365

Up $768,635 (+12%) from 2016

Expenses

Up

$7,034,158

Up $363,924 (+5.5%) from 2016

Net Income

Up

$417,207

Up $404,711 (+3239%) from 2016

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $10,300,800Liabilities 2010: $10,080,805Net Assets 2010: $219,9952010Assets 2011: $10,590,194Liabilities 2011: $9,784,981Net Assets 2011: $805,2132011Assets 2012: $10,787,081Liabilities 2012: $9,560,166Net Assets 2012: $1,226,9152012Assets 2013: $10,804,572Liabilities 2013: $9,276,581Net Assets 2013: $1,527,9912013Assets 2014: $10,411,336Liabilities 2014: $8,832,019Net Assets 2014: $1,579,3172014Assets 2015: $10,103,000Liabilities 2015: $8,452,307Net Assets 2015: $1,650,6932015Assets 2016: $9,797,741Liabilities 2016: $8,122,804Net Assets 2016: $1,674,9372016Assets 2017: $9,609,709Liabilities 2017: $7,543,330Net Assets 2017: $2,066,3792017Assets 2018: $9,485,635Liabilities 2018: $7,084,370Net Assets 2018: $2,401,2652018Assets 2019: $9,192,499Liabilities 2019: $6,783,303Net Assets 2019: $2,409,1962019Assets 2020: $10,048,520Liabilities 2020: $7,633,746Net Assets 2020: $2,414,7742020Assets 2021: $9,103,416Liabilities 2021: $6,113,405Net Assets 2021: $2,990,0112021Assets 2022: $9,130,389Liabilities 2022: $5,498,929Net Assets 2022: $3,631,4602022Assets 2023: $9,656,815Liabilities 2023: $5,176,271Net Assets 2023: $4,480,5442023Assets 2024: $11,205,917Liabilities 2024: $4,606,301Net Assets 2024: $6,599,6162024

Highlighted filing

2017

Assets$9,609,709
Liabilities$7,543,330
Net Assets$2,066,379

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $6,038,4492010Expenses 2011: $6,058,7112011Expenses 2012: $6,132,0942012Revenue 2013: $6,538,073Expenses 2013: $6,204,757Net Income 2013: $333,3162013Revenue 2014: $6,202,772Expenses 2014: $6,157,275Net Income 2014: $45,4972014Revenue 2015: $6,566,072Expenses 2015: $6,480,018Net Income 2015: $86,0542015Revenue 2016: $6,682,730Expenses 2016: $6,670,234Net Income 2016: $12,4962016Revenue 2017: $7,451,365Expenses 2017: $7,034,158Net Income 2017: $417,2072017Revenue 2018: $7,519,201Expenses 2018: $7,139,088Net Income 2018: $380,1132018Revenue 2019: $7,776,374Expenses 2019: $7,802,065Net Income 2019: -$25,6912019Revenue 2020: $7,856,214Expenses 2020: $7,879,868Net Income 2020: -$23,6542020Revenue 2021: $8,785,306Expenses 2021: $8,258,297Net Income 2021: $527,0092021Revenue 2022: $8,893,560Expenses 2022: $8,004,275Net Income 2022: $889,2852022Revenue 2023: $8,056,289Expenses 2023: $7,223,267Net Income 2023: $833,0222023Revenue 2024: $9,850,110Expenses 2024: $7,888,791Net Income 2024: $1,961,3192024

Highlighted filing

2017

Revenue$7,451,365
Expenses$7,034,158
Net Income$417,207
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Feb 2, 2018
Return Version
2016v3.0
Gross Receipts
$7,451,365
Mission and Program Overview

Mission

The purpose of cokato charitable trust division is to provide quality health and housing services that enhance the quality of life and maintain a maximum level of functioning for our customers.

Provide elderly persons housing and services to meet physical, social, and psychological needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,724,514$4,702,104▼ $22,410
Investments in Publicly Traded Securities$2,082,314$2,575,980▲ $493,666
Savings and Temporary Cash Investments$2,044,244$1,618,081▼ $426,163
Accounts Receivable$677,762$663,028▼ $14,734
Prepaid Expenses and Deferred Charges$76,263$50,516▼ $25,747
Total Assets$9,797,741$9,609,709▼ $188,032
Other Assets Total$192,644$0▼ $192,644
Liabilities
Tax Exempt Bond Liabilities$7,545,000$6,961,204▼ $583,796
Accounts Payable and Accrued Expenses$568,407$573,113▲ $4,706
Escrow Account Liability$9,397$9,013▼ $384
Total Liabilities$8,122,804$7,543,330▼ $579,474
Net Assets / Fund Balance
Unrestricted Net Assets$1,674,937$2,066,379▲ $391,442
Total Net Assets Fund Balance$1,674,937$2,066,379▲ $391,442
Total Liabilities and Net Assets / Fund Balance$9,797,741$9,609,709▼ $188,032

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,686,514$6,277,495$9,964,009
Equipment$613,618$1,125,424$1,739,042
Leasehold Improvements$131,091$107,534$238,625
Other Land Buildings$80,256$118,514$198,770
Land$190,625-$190,625
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James BroichAdministratorFT$97,274$6,804$104,078

Board Members and Trustees

NameTitle
Steven HansonChair
Lyle SeversonVice Chair
Allan AndersonTrustee
Peter BortnemTrustee
Peter ForsmanTrustee
Suzanne KaczmarekTrustee
Jim NelsonTrustee (through 1/1/17)
Peggy CarlsonSecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Centrex RehabTherapy8120 Penn Ave, Bloomington, MN 55431$249,308
Revenue and Support

Revenue Composition

Contributions and Grants
$6,407
Program Service Revenue
$7,232,904
Investment Income
$28,409
Other Revenue
$183,645
All Other Contributions
$6,407
Change in Net Assets
$417,207

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,451,365
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$7,451,365
Total Revenue per Form 990
$7,451,365
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,376,614
Other Expenses$2,655,843
Grants and Similar Amounts Paid$1,701
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,594,908$20,267-$3,615,175
Depreciation Depletion$539,568--$539,568
Fees for Services Other$420,800$42,003-$462,803
Other Employee Benefits$374,287$5,501-$379,788
Occupancy$332,581$11,494-$344,075
Interest$316,316--$316,316
Payroll Taxes$265,442$8,914-$274,356
Office Expenses$79,279$40,631-$119,910
Current Officers, Directors, Trustees, and Key Employees-$107,295-$107,295
Insurance-$63,701-$63,701
Travel$36,292$7,530-$43,822
Conferences and Meetings$23,095$12,725-$35,820
Advertising$996$31,547-$32,543
Fees for Services Accounting-$24,254-$24,254
Fees for Services Legal-$8,335-$8,335
All Other Expenses$6,079$-1,538-$4,541
Other Expenses$2,229$25,705-$2,229
Grants to Domestic Individuals$1,701--$1,701
Total Functional Expenses$6,468,154$566,004$0$7,034,158

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,034,158
Total Expenses per Audited Statements$7,034,158
Total Expenses per Form 990$7,034,158
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
BCity of Cokato2006-11-01$5,077,872Refund bonds issued 7/8/1999 & renovations to nursing facility
ACity of Cokato2012-12-27$4,052,282Refund bonds issued 4/29/2004

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$5,077,872$2,392,243$947,282$101,557
A$4,052,282$3,796,185$41,052,298$81,046

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
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

There are no committees with the authority to act on behalf of the board.

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

The Administrator reviews the Form 990, addressing any comments or changes. Before the return is filed, a copy is provided to the board.

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

Cokato Charitable Trust (CCT) has a conflict of interest policy to protect the interest of the organization when contemplating entering into a transaction or arrangement that might benefit the private interest of a member of the Board or key staff of CCT or might result in a possible excess benefit transaction. On an annual basis interested persons, any board member or staff member of CCT who has a direct or indirect financial interest, disclose any conflicts. After disclosure of a financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board meeting while the determination of a conflict of interest is discussed and voted upon. Any disclosed conflicts are addressed by the governing board that determines if the transaction or arrangement is in CCT's best interest, for its own benefit, and whether it is fair and reasonable.

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

The Board of Directors used comparative salary information from other non-profit organizations, data compiled by Aging Services of Minnesota, and 990 information from area facilities in determining compensation. This was completed during this fiscal year.

Form 990, Part VI, Section C, line 19

The organization does not make these documents available to the general public.

Filing and Contact Details

Filer

Filer Name
Cokato Charitable Trust
EIN
41-1456124
Phone
3202863103
Address
182 Sunset Avenue NW, Cokato, MN 55321

Signing Officer

Name
James Broich
Title
Administrator
Phone
3202862158
Signed
2018-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Broich
Formed
1983
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
231
Volunteers
125

Preparer

Firm
Eide Bailly LLP
Address
800 Nicollet Mall Ste 1300, Minneapolis, MN 55402-7033
Preparer
Deb Nelson CPA
Phone
6122536500
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B:

The Trust acts as custodian for the funds of the residents.

Part X, Line 2:

The Trust is organized as a Minnesota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Internal Revenue Code Section 501(c)(3). The Trust is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Trust is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purpose. The Trust believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and, as such, does not have any uncertain tax positions that are material to the financial statements. The Trust would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense, if such interest and penalties are incurred.

Raw XML AppendixShowing 400 of 609 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/MissionDesc0The purpose of Cokato Charitable Trust division is to provide quality health and housing services that enhance the quality of life and maintain a maximum level of functioning for our customers.
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IRS990/OtherExpensesGrp/Desc1Medical Surcharge
IRS990/OtherExpensesGrp/Desc2Dues & Subscriptions
IRS990/OtherExpensesGrp/Desc3Bad Debt Expense
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IRS990/PrincipalOfficerNm0James Broich
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IRS990/ProgSrvcAccomActy2Grp/Desc0Brookridge is an assisted living residence that holds the key to comfortable and affordable senior housing with a health care touch. At Brookridge, our goal is to provide residents with all the possiblities so they remain vital and active. Our staff strives to help residents achieve the highest possible level of good health, self-care and independence. As a member of the Brookridge community, their neighbors are their friends. Residents experience the sense of family that truly encourages them to feel right at home.Brookridge offers the following services to its residents:- Paid utilities (telephone not included) - Free cable television - Three meals a day, including snacks - 24-hour emergency response system - Staffing around-the-clock and an RN available 24-hours a day - Full laundry services, including linens - Housekeeping including refuse removal - Non-emergency scheduled transportation - Fireplace lounge for gatherings, companionship and entertaining - Central air conditioniong - Direct access to Chapel - Sprinklers and alarms for fire safety - Convenient, indoor mail drop - Centrally-located elevator - Apartment-sized refrigerator and microwave provided - Barber/beauty shop - Exciting activities program - Off-street parking for you and your guests - Handicap-accessible showers - Daily checking on tenants - Local professional management
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0588602
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0737756
IRS990/ProgSrvcAccomActy3Grp/Desc0Cokato Manor Home Health (CMHH) is another component of the continuum of care to provide the community with comprehensive and compassionate care whereby health, social and supportive services are provided to the individuals in their own home. Our goal in home health is to maximize the level of independence, while minimizing the effects of disabilities and illness.CMHH is licensed by the Minnesota Department of Health as a Comprehensive Home Care Provider and is Medicare Certified and is a contracted provider of most private insurance.Cokato Manor Home Health provides the following services:-Skilled nursing-Physical assessments (ordered by physicians) -Post-hospitalization care -Wound evaluation with dressing changes -Cardiac and respiratory assessments-Medication instruction and follow-up -At-home therapy -Restorative nursing -Physical therapy -Occupational therapy -Speech therapy Home Health Aide- Personal care assistance under the supervision of a RN; bathing, dressing, nutrition assistance - Light housekeeping tasks and meal preparation - Assistance with maintaining safety and independence in the home
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0485112
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0520769
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Cokato Charitable Trust operates and manages Cokato Manor, a 56-bed skilled nursing facility; Heritage Place, a 10-unit housing project for individuals with Alzheimers and related disorders; Edgewood Gables, a 30-unit independent living apartment for the elderly; Brookridge, a 16-unit assisted living facility; and Cokato Manor Home Health, a home health care service agency for the elderly.In addition to operating and managing those facilities, Cokato Charitable Trust offers senior day services, Meals on Wheels, congregate dining, rehab services and child day care.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0996095
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt01294690
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IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt01618081
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt049674
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09964009
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt01125424
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.2$4.61$6.60$9.85$7.89$1.96
2023Detailed filing. Detailed filing data is available for this year.$9.66$5.18$4.48$8.06$7.22$0.83
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.13$5.50$3.63$8.89$8.00$0.89
2021Detailed filing. Detailed filing data is available for this year.$9.10$6.11$2.99$8.79$8.26$0.53
2020Detailed filing. Detailed filing data is available for this year.$10.0$7.63$2.41$7.86$7.88$0.02
2019Detailed filing. Detailed filing data is available for this year.$9.19$6.78$2.41$7.78$7.80$0.03
2018Detailed filing. Detailed filing data is available for this year.$9.49$7.08$2.40$7.52$7.14$0.38
2017Detailed filing. Detailed filing data is available for this year.$9.61$7.54$2.07$7.45$7.03$0.42
2016Detailed filing. Detailed filing data is available for this year.$9.80$8.12$1.67$6.68$6.67$0.01
2015Detailed filing. Detailed filing data is available for this year.$10.1$8.45$1.65$6.57$6.48$0.09
2014Detailed filing. Detailed filing data is available for this year.$10.4$8.83$1.58$6.20$6.16$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$9.28$1.53$6.54$6.20$0.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$9.56$1.23$6.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$9.78$0.81$6.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$10.1$0.22$6.04