Civic Intelligence

Ebenezer Ridge Point Apartments Inc.

990 • Fiscal year 2021 • EIN 41-1769727

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 04, 2022

7505 Metro Boulevard Suite 100Edina, MN 55439

(612) 874-3460

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.14x

Higher debt load relative to assets than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

83rd percentile

0.66x

Higher debt load relative to revenue than 83% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

10th percentile

-20%

Higher net margin than 10% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

100th percentile

$2,775,098

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 774.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

11th percentile

-6.9%

Faster asset growth than 11% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

35th percentile

1.9%

Faster revenue growth than 35% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$1,656,931

Down $123,232 (-6.9%) from 2020

Net Assets

Down

$1,419,069

Down $73,029 (-4.9%) from 2020

Liabilities

Down

$237,862

Down $50,203 (-17%) from 2020

Revenue

Up

$358,526

Up $6,674 (+1.9%) from 2020

Expenses

Down

$431,553

Down $28,601 (-6.2%) from 2020

Net Income

Up

-$73,027

Up $35,275 (+33%) from 2020

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2010: $2,539,460Liabilities 2010: $141,932Net Assets 2010: $2,397,5282010Assets 2011: $2,429,720Liabilities 2011: $65,819Net Assets 2011: $2,363,9012011Assets 2012: $2,359,139Liabilities 2012: $84,215Net Assets 2012: $2,274,9242012Assets 2013: $2,282,624Liabilities 2013: $89,868Net Assets 2013: $2,192,7562013Assets 2014: $2,220,447Liabilities 2014: $119,966Net Assets 2014: $2,100,4812014Assets 2015: $2,177,943Liabilities 2015: $204,852Net Assets 2015: $1,973,0912015Assets 2016: $2,050,119Liabilities 2016: $165,894Net Assets 2016: $1,884,2252016Assets 2017: $1,999,428Liabilities 2017: $200,146Net Assets 2017: $1,799,2822017Assets 2018: $1,930,630Liabilities 2018: $224,478Net Assets 2018: $1,706,1522018Assets 2019: $1,861,790Liabilities 2019: $261,390Net Assets 2019: $1,600,4002019Assets 2020: $1,780,163Liabilities 2020: $288,065Net Assets 2020: $1,492,0982020Assets 2021: $1,656,931Liabilities 2021: $237,862Net Assets 2021: $1,419,0692021Assets 2022: $1,452,096Liabilities 2022: $108,470Net Assets 2022: $1,343,6262022Assets 2023: $1,418,998Liabilities 2023: $140,093Net Assets 2023: $1,278,9052023Assets 2024: $1,361,702Liabilities 2024: $123,233Net Assets 2024: $1,238,4692024

Highlighted filing

2021

Assets$1,656,931
Liabilities$237,862
Net Assets$1,419,069

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $345,4612010Expenses 2011: $367,5402011Expenses 2012: $374,5522012Revenue 2013: $303,251Expenses 2013: $385,419Net Income 2013: -$82,1682013Revenue 2014: $301,434Expenses 2014: $393,709Net Income 2014: -$92,2752014Revenue 2015: $310,509Expenses 2015: $437,899Net Income 2015: -$127,3902015Revenue 2016: $320,022Expenses 2016: $408,888Net Income 2016: -$88,8662016Revenue 2017: $320,912Expenses 2017: $405,855Net Income 2017: -$84,9432017Revenue 2018: $332,463Expenses 2018: $425,593Net Income 2018: -$93,1302018Revenue 2019: $340,517Expenses 2019: $446,269Net Income 2019: -$105,7522019Revenue 2020: $351,852Expenses 2020: $460,154Net Income 2020: -$108,3022020Revenue 2021: $358,526Expenses 2021: $431,553Net Income 2021: -$73,0272021Revenue 2022: $379,119Expenses 2022: $454,562Net Income 2022: -$75,4432022Revenue 2023: $403,078Expenses 2023: $467,799Net Income 2023: -$64,7212023Revenue 2024: $419,868Expenses 2024: $460,304Net Income 2024: -$40,4362024

Highlighted filing

2021

Revenue$358,526
Expenses$431,553
Net Income-$73,027
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 4, 2022
Return Version
2021v4.2
Gross Receipts
$358,526
Mission and Program Overview

Mission

Ebenezer helps older adults and others make their lives more independent, healthful, meaningful and secure.

The organization provides 42 apartment units of housing for the low-income elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,229,181$1,148,960▼ $80,221
Savings and Temporary Cash Investments$374,865$365,868▼ $8,997
Cash and Non-Interest-Bearing Accounts$171,807$136,018▼ $35,789
Accounts Receivable$3,463$3,602▲ $139
Prepaid Expenses and Deferred Charges$847$2,483▲ $1,636
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$1,780,163$1,656,931▼ $123,232
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$230,795$194,628▼ $36,167
Accounts Payable and Accrued Expenses$39,265$23,689▼ $15,576
Escrow Account Liability$18,005$19,545▲ $1,540
Total Liabilities$288,065$237,862▼ $50,203
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,492,098$1,155,128▼ $336,970
Net Assets With Donor Restrictions-$263,941-
Total Net Assets Fund Balance$1,492,098$1,419,069▼ $73,029
Total Liabilities and Net Assets / Fund Balance$1,780,163$1,656,931▼ $123,232

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$951,918$1,895,656$2,847,574
Land$169,864-$169,864
Equipment$16,363$51,004$67,367
Other Land Buildings$10,815$44,653$55,468
Compensation and Service Providers

Board Members and Trustees

NameTitle
-Chair
-President
-Vice Chair
-Director
-Director, end 5-2021
-Director, end 9-2021
-Director, new 2021
-CFO
-Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$345,394
Investment Income
$16
Other Revenue
$13,116
Change in Net Assets
$-73,027

Audited Revenue Reconciliation

Revenue per Audited Statements
$358,526
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$358,526
Total Revenue per Form 990
$358,526
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$298,534
Salaries, Compensation, and Employee Benefits$133,019
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$27,725$81,934-$109,659
Depreciation Depletion-$96,020-$96,020
Occupancy$67,789$27,392-$95,181
Fees for Services Management-$43,299-$43,299
Fees for Services Other$24,196$9,560$0$33,756
Other Employee Benefits$2,683$9,678-$12,361
Office Expenses$2,260$6,841-$9,101
Fees for Services Accounting-$9,079-$9,079
Payroll Taxes$2,061$6,060-$8,121
Pension Plan Contributions$7$2,871-$2,878
All Other Expenses$1,144$0$0$1,144
Other Expenses$158$1,026-$1,026
Interest-$171-$171
Conferences and Meetings-$150-$150
Total Functional Expenses$135,759$295,794$0$431,553

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$431,553
Total Expenses per Audited Statements$431,553
Total Expenses per Form 990$431,553
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Due to Related Party$194,628
Deferred Revenue-
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3 Delegation of management duties

Ebenezer Ridge Point Apartments is managed by Ebenezer Society employees.

Form 990, Part VI, Line 6 Classes of members or stockholders

Ebenezer Society, a Minnesota Nonprofit Organization, is the sole member of Ebenezer Ridge Point Apartments.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Ebenezer Society, the sole member, appoints all directors. Ebenezer Society and Ebenezer Ridge Point Apartments share a common board of directors.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

The following actions must be approved by Ebenezer Society, the sole member: (A) All amendments to the articles of incorporation and bylaws; (B) All capital budgets of the organization and all other entities directly or indirectly controlled by this organization, and all major capital expenditures before funds are expended therefor; (C) All operating budgets of this organization and all other entities directly or indirectly controlled by this organization, before authorized expenditures may be made therefrom; (D) Strategic plans of this organization and all other entities directly or indirectly controlled by this organization; (E) The incurring of any long term debt of this organization and all other entities directly or indirectly controlled by this organization, other than intra-system of refinancing debt; (F) All human resources and benefit policies;(G) Any major risk contracting agreements, which for these purposes means any contract that deals with capitation or a similar risk bearing concept; (H) Any merger, consolidation, or total or partial dissolution; (I) The number of directors; and (J) Any governance and action of the type set forth in subparagraphs (A) and (F) through (I) above as proposed by the board of directors of any entity directly controlled by this organization to the extent that the governing documents of such entity give this organization or the board a right to approval over such governance action.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Tax Department conducts a detailed review of the completed return. The return is also reviewed by the President and CFO. The Form 990 is subsequently presented to the Board of Directors. Upon approval from the Board of Directors, the Form 990 is filed.

Form 990, Part VI, Line 12C Conflict of interest policy

Managers, Directors and senior management are required to annually complete a Duty of Loyalty and Conflict of Interest Statement in compliance with Fairview's system Conflict of Interest Policy. Disclosures are reviewed by the compliance department. Any conflicts of interest by board members are brought to the board for review.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The determination of executive compensation of the organization is processed by the Fairview System Human Resources Committee and includes a review of comparability data, review by independent experts and contemporaneous substantiation of the deliberation and decision process.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The determination of executive compensation of the organization is processed by the Fairview System Human Resources Committee and includes a review of comparability data, review by independent experts and contemporaneous substantiation of the deliberation and decision process.

Form 990, Part VI, Line 19 Required documents available to the public

This organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request and inspection of the documents is available at the corporate finance department.

Filing and Contact Details

Filer

Filer Name
Ebenezer Ridge Point Apartments Inc
EIN
41-1769727
Phone
6128743460
Address
7505 Metro Boulevard Suite 100, Edina, MN 55439

Signing Officer

Name
Jonathan Lundberg
Title
President
Signed
2022-11-04

Organization Details

Formed
1994
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
6
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 1A Additional Information

All cash disbursements are centralized through a related organization, Ebenezer Society. Therefore the related organization, Ebenezer Society, makes the payment and files the related Form 1099's and Form 1096 instead or this organization.

Form 990, Part V, Line 2A Additional Information

Ebenezer Ridge Point Apartments leases employees from a related organization, Ebenezer Society, a 501(c)(3) tax-exempt, non-profit organization. Therefore, Ebenezer Society files the appropriate W-3 and related W-2 tax forms for these individuals instead of Ebenezer Ridge Point Apartments. According to the Form 990 instructions for Part VII, we reflect the leased employee's compensation on the Ebenezer Ridge Point Apartments Form 990, Part VII and Schedule J, as if Ebenezer Ridge Point Apartments compensates these individuals.

Financial Statement Notes

Schedule D, Part IV, Line 2B Explanation of escrow agreement

Security deposits advanced by the tenants of the organization are held in trust by the organization. The organization records the amounts advanced by tenants, plus interest earned, as a liability.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Project is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable Minnesota Statutes. Consequently, no provision has been made for income taxes. The Project's annual tax filings are subject to review by federal, state, and local authorities. The Project is not aware of any activities that would jeopardize its tax-exempt status. The Project is not aware of any activities that are subject to tax on unrelated business income or excise taxes.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1President
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IRS990/Form990PartVIISectionAGrp/TitleTxt5CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director, end 5-2021
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director, end 9-2021
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IRS990/MissionDesc0Ebenezer Ridge Point Apartments is part of Ebenezer Society. Ebenezer Society helps older adults and others make their lives more independent, healthful, meaningful and secure. Building on our Lutheran heritage, we respond to physical, psychological, social and spiritual dimensions of the whole person. We welcome persons of diverse cultures and faith traditions. We practice responsible stewardship of humans, property, and financial resources and encourage continual learning and innovation to strive for excellence.
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.36$0.12$1.24$0.42$0.46$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.42$0.14$1.28$0.40$0.47$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.45$0.11$1.34$0.38$0.45$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.66$0.24$1.42$0.36$0.43$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.78$0.29$1.49$0.35$0.46$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.86$0.26$1.60$0.34$0.45$0.11
2018Detailed filing. Detailed filing data is available for this year.$1.93$0.22$1.71$0.33$0.43$0.09
2017Detailed filing. Detailed filing data is available for this year.$2.00$0.20$1.80$0.32$0.41$0.08
2016Detailed filing. Detailed filing data is available for this year.$2.05$0.17$1.88$0.32$0.41$0.09
2015Detailed filing. Detailed filing data is available for this year.$2.18$0.20$1.97$0.31$0.44$0.13
2014Detailed filing. Detailed filing data is available for this year.$2.22$0.12$2.10$0.30$0.39$0.09
2013Detailed filing. Detailed filing data is available for this year.$2.28$0.09$2.19$0.30$0.39$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.36$0.08$2.27$0.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.43$0.07$2.36$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.54$0.14$2.40$0.35