Civic Intelligence

Noahs Ark Affordable Housing Inc

EIN 41-1777250 • 501(c)3 • Roseville, MN

Profile

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

2845 N Hamline AveRoseville, MN 55113

www.preshomes.org

Siviq Scores

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

Liabilities / Assets

77th percentile

0.46x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

90th percentile

1.69x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

80th percentile

29%

Higher net margin than 80% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

98th percentile

$1,089,847

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 51.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

51st percentile

4.3%

Faster asset growth than 51% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

56th percentile

10%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$7,906,248

Up $329,383 (+4.3%) from 2023

Liabilities

Down

$3,615,062

Down $291,191 (-7.5%) from 2023

Net Assets

Up

$4,291,186

Up $620,574 (+17%) from 2023

Operations
Liabilities / Revenue90th percentileNet Margin80th percentile

Revenue

Up

$2,135,325

Up $201,504 (+10%) from 2023

Expenses

Up

$1,514,751

Up $13,499 (+0.9%) from 2023

Net Income

Up

$620,574

Up $188,005 (+43%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth51st percentile

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

$10M$5.0M$0Assets 2010: $9,326,801Liabilities 2010: $7,267,599Net Assets 2010: $2,059,2022010Assets 2011: $9,388,837Liabilities 2011: $7,321,862Net Assets 2011: $2,066,9752011Assets 2012: $9,034,740Liabilities 2012: $6,923,245Net Assets 2012: $2,111,4952012Assets 2013: $9,049,449Liabilities 2013: $6,703,690Net Assets 2013: $2,345,7592013Assets 2014: $9,033,656Liabilities 2014: $6,527,971Net Assets 2014: $2,505,6852014Assets 2015: $8,891,020Liabilities 2015: $6,147,458Net Assets 2015: $2,743,5622015Assets 2016: $8,836,524Liabilities 2016: $6,097,819Net Assets 2016: $2,738,7052016Assets 2017: $8,637,677Liabilities 2017: $5,831,573Net Assets 2017: $2,806,1042017Assets 2018: $8,309,625Liabilities 2018: $5,417,281Net Assets 2018: $2,892,3442018Assets 2019: $7,937,946Liabilities 2019: $5,177,043Net Assets 2019: $2,760,9032019Assets 2020: $7,907,654Liabilities 2020: $4,969,523Net Assets 2020: $2,938,1312020Assets 2021: $7,788,549Liabilities 2021: $4,630,646Net Assets 2021: $3,157,9032021Assets 2022: $7,451,326Liabilities 2022: $4,213,283Net Assets 2022: $3,238,0432022Assets 2023: $7,576,865Liabilities 2023: $3,906,253Net Assets 2023: $3,670,6122023Assets 2024: $7,906,248Liabilities 2024: $3,615,062Net Assets 2024: $4,291,1862024

Highlighted filing

2024

Assets$7,906,248
Liabilities$3,615,062
Net Assets$4,291,186
Open 2024 Filing

Operations Trend

Revenue Growth56th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,240,6622010Revenue 2011: $1,270,624Expenses 2011: $1,265,660Net Income 2011: $4,9642011Expenses 2012: $1,270,7782012Expenses 2013: $1,236,4662013Revenue 2014: $1,814,508Expenses 2014: $1,654,582Net Income 2014: $159,9262014Revenue 2015: $1,980,071Expenses 2015: $1,742,194Net Income 2015: $237,8772015Revenue 2016: $2,047,027Expenses 2016: $2,051,884Net Income 2016: -$4,8572016Revenue 2017: $2,127,339Expenses 2017: $2,059,940Net Income 2017: $67,3992017Revenue 2018: $2,164,888Expenses 2018: $2,078,648Net Income 2018: $86,2402018Revenue 2019: $1,623,329Expenses 2019: $1,754,770Net Income 2019: -$131,4412019Revenue 2020: $1,735,158Expenses 2020: $1,557,930Net Income 2020: $177,2282020Revenue 2021: $1,761,786Expenses 2021: $1,542,014Net Income 2021: $219,7722021Revenue 2022: $1,633,810Expenses 2022: $1,553,670Net Income 2022: $80,1402022Revenue 2023: $1,933,821Expenses 2023: $1,501,252Net Income 2023: $432,5692023Revenue 2024: $2,135,325Expenses 2024: $1,514,751Net Income 2024: $620,5742024

Highlighted filing

2024

Revenue$2,135,325
Expenses$1,514,751
Net Income$620,574
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,906,248
Liabilities
$3,615,062
Net assets
$4,291,186
Revenue
$2,135,325
Expenses
$1,514,751
Net income
$620,574
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.91$3.62$4.29$2.14$1.51$0.62
2023Detailed filing. Detailed filing data is available for this year.$7.58$3.91$3.67$1.93$1.50$0.43
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.45$4.21$3.24$1.63$1.55$0.08
2021Detailed filing. Detailed filing data is available for this year.$7.79$4.63$3.16$1.76$1.54$0.22
2020Detailed filing. Detailed filing data is available for this year.$7.91$4.97$2.94$1.74$1.56$0.18
2019Detailed filing. Detailed filing data is available for this year.$7.94$5.18$2.76$1.62$1.75$0.13
2018Detailed filing. Detailed filing data is available for this year.$8.31$5.42$2.89$2.16$2.08$0.09
2017Detailed filing. Detailed filing data is available for this year.$8.64$5.83$2.81$2.13$2.06$0.07
2016Detailed filing. Detailed filing data is available for this year.$8.84$6.10$2.74$2.05$2.05$0.00
2015Detailed filing. Detailed filing data is available for this year.$8.89$6.15$2.74$1.98$1.74$0.24
2014Detailed filing. Detailed filing data is available for this year.$9.03$6.53$2.51$1.81$1.65$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.05$6.70$2.35$1.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.03$6.92$2.11$1.27
2011Summary only. Only limited summary data is available for this year.$9.39$7.32$2.07$1.27$1.27$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.33$7.27$2.06$1.24
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 12, 2025
Return Version
2023v6.0
Gross Receipts
$2,146,369
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$3,955,417$3,981,497▲ $26,080
Savings and Temporary Cash Investments$2,179,443$2,329,163▲ $149,720
Investments Other Securities$1,331,149$1,484,137▲ $152,988
Prepaid Expenses and Deferred Charges$60,094$60,604▲ $510
Intangible Assets$41,519$33,371▼ $8,148
Accounts Receivable$9,243$17,476▲ $8,233
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$7,576,865$7,906,248▲ $329,383
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$3,460,001$3,160,000▼ $300,001
Accounts Payable and Accrued Expenses$237,130$236,649▼ $481
Escrow Account Liability$179,026$187,853▲ $8,827
Other Liabilities$30,096$30,560▲ $464
Total Liabilities$3,906,253$3,615,062▼ $291,191
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,670,612$4,291,186▲ $620,574
Total Net Assets Fund Balance$3,670,612$4,291,186▲ $620,574
Total Liabilities and Net Assets / Fund Balance$7,576,865$7,906,248▲ $329,383

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,760,123$5,499,331$8,259,454
Land$793,905-$793,905
Equipment$251,288$205,340$456,628
Leasehold Improvements$176,181$90,985$267,166
Compensation and Service Providers
Top Officer Pay98th percentile

Board Members and Trustees

NameTitle
Dan LindhBoard Chair/CEO
Mark PedersonBrd Vice Chair
Mark MeyerSec/treas/CFO
Jonathan FletcherVP Development
Revenue and Support

Revenue Composition

Contributions and Grants
$6,287
Program Service Revenue
$1,965,021
Investment Income
$145,296
Other Revenue
$18,721
Change in Net Assets
$620,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,250,163
Salaries, Compensation, and Employee Benefits$264,588
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$346,243--$346,243
Occupancy$313,305$139-$313,444
Other Salaries and Wages$136,593$89,790-$226,383
Interest$173,101--$173,101
Fees for Services Management-$108,317-$108,317
Insurance-$65,730-$65,730
Fees for Services Other$39,860$711-$40,571
Payroll Taxes$17,850$11,733-$29,583
Information Technology-$27,852-$27,852
Office Expenses$3,965$20,116-$24,081
Other Expenses$12,088$15,419-$12,088
Other Employee Benefits$4,102$2,696-$6,798
Travel$5,020--$5,020
Fees for Services Accounting-$4,752-$4,752
Pension Plan Contributions$1,101$723-$1,824
Advertising-$1,740-$1,740
Total Functional Expenses$1,165,033$349,718$0$1,514,751
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

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$30,560

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Spring Lake Park Mn2003-02-06$8,160,000REFINANCE EXISTING DEBT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,160,000$8,016,800$5,000,000$143,200

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
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 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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“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, Section A, Line 6

“The sole member of the organization is presbyterian homes & services.”

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

“Prior to filing with the irs, the organization's form 990 is made available to the governing body of the member that controls management of the organization and appoints some or all directors to the organization. Officers and management of the organization have been involved in the preparation of the form 990 and remain accountable to the governing body through regular review of financial reports and related information.”

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

“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, Section C, Line 19

“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
Noahs Ark Affordable Housing Inc
EIN
41-1777250
Phone
6516316162
Address
2845 N HAMLINE AVE, ROSEVILLE, MN 55113

Signing Officer

Name
Mark Meyer
Title
CFO
Signed
2025-08-12

Organization Details

Principal Officer
Jonathan Fletcher
Formed
1994
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
34
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.”

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 581 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/OtherExpensesGrp/Desc1MISCELLANEOUS
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IRS990/PrincipalOfficerNm0JONATHAN FLETCHER
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt09211142
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b: Explanation of escrow account liability
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03981497
IRS990ScheduleD/TotalBookValueSecuritiesAmt01484137
IRS990ScheduleD/TotalLiabilityAmt030560

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