Civic Intelligence

The Homestead at Boulder City Inc

EIN 41-1887579 • 501(c)3 • Eden Prairie, MN

Refreshing map…

7485 Office Ridge CircleEden Prairie, MN 55344

www.voa.org

Siviq Scores

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

Liabilities / Assets

100th percentile

1405.13x

Higher debt load relative to assets than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

100th percentile

172%

Higher net margin than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

99th percentile

$825,085

Higher top officer pay than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Assets

Down

$4,853,256

Down $183,928 (-3.7%) from 2022

Liabilities

Up

$12,706,581

Up $498,497 (+4.1%) from 2022

Net Assets

Down

-$7,853,325

Down $682,425 (-9.5%) from 2022

Revenue

Down

$282,143

Down $636,139 (-69%) from 2022

Expenses

Down

$964,568

Down $1,028,327 (-52%) from 2022

Net Income

Up

-$682,425

Up $392,188 (+36%) from 2022

Trend Graphs

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2011: $8,401,310Liabilities 2011: $9,290,573Net Assets 2011: -$889,2632011Assets 2012: $8,940,008Liabilities 2012: $9,990,478Net Assets 2012: -$1,050,4702012Assets 2013: $8,560,567Liabilities 2013: $10,077,646Net Assets 2013: -$1,517,0792013Assets 2014: $8,390,450Liabilities 2014: $10,006,336Net Assets 2014: -$1,615,8862014Assets 2015: $8,139,295Liabilities 2015: $10,226,271Net Assets 2015: -$2,086,9762015Assets 2016: $7,942,842Liabilities 2016: $10,499,411Net Assets 2016: -$2,556,5692016Assets 2017: $7,386,840Liabilities 2017: $10,316,310Net Assets 2017: -$2,929,4702017Assets 2018: $7,163,203Liabilities 2018: $10,655,816Net Assets 2018: -$3,492,6132018Assets 2019: $6,967,287Liabilities 2019: $11,223,986Net Assets 2019: -$4,256,6992019Assets 2020: $6,833,097Liabilities 2020: $12,075,376Net Assets 2020: -$5,242,2792020Assets 2021: $5,264,150Liabilities 2021: $11,360,437Net Assets 2021: -$6,096,2872021Assets 2022: $5,037,184Liabilities 2022: $12,208,084Net Assets 2022: -$7,170,9002022Assets 2023: $4,853,256Liabilities 2023: $12,706,581Net Assets 2023: -$7,853,3252023

Highlighted filing

2023

Assets$4,853,256
Liabilities$12,706,581
Net Assets-$7,853,325

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $3,461,6182011Expenses 2012: $3,023,9062012Revenue 2013: $2,625,338Expenses 2013: $2,959,376Net Income 2013: -$334,0382013Revenue 2014: $2,531,579Expenses 2014: $2,762,957Net Income 2014: -$231,3782014Revenue 2015: $2,213,376Expenses 2015: $2,684,466Net Income 2015: -$471,0902015Revenue 2016: $2,121,297Expenses 2016: $2,590,890Net Income 2016: -$469,5932016Revenue 2017: $2,459,994Expenses 2017: $2,832,895Net Income 2017: -$372,9012017Revenue 2018: $2,324,256Expenses 2018: $2,887,399Net Income 2018: -$563,1432018Revenue 2019: $2,042,320Expenses 2019: $2,806,406Net Income 2019: -$764,0862019Revenue 2020: $1,877,246Expenses 2020: $2,862,826Net Income 2020: -$985,5802020Revenue 2021: $1,504,686Expenses 2021: $2,358,694Net Income 2021: -$854,0082021Revenue 2022: $918,282Expenses 2022: $1,992,895Net Income 2022: -$1,074,6132022Revenue 2023: $282,143Expenses 2023: $964,568Net Income 2023: -$682,4252023

Highlighted filing

2023

Revenue$282,143
Expenses$964,568
Net Income-$682,425

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$4.85$12.7$7.85$0.28$0.96$0.68
2022Summary only. Only limited summary data is available for this year.$5.04$12.2$7.17$0.92$1.99$1.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.26$11.4$6.10$1.50$2.36$0.85
2020Summary only. Only limited summary data is available for this year.$6.83$12.1$5.24$1.88$2.86$0.99
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.97$11.2$4.26$2.04$2.81$0.76
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.16$10.7$3.49$2.32$2.89$0.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.39$10.3$2.93$2.46$2.83$0.37
2016Detailed filing. Detailed filing data is available for this year.$7.94$10.5$2.56$2.12$2.59$0.47
2015Detailed filing. Detailed filing data is available for this year.$8.14$10.2$2.09$2.21$2.68$0.47
2014Detailed filing. Detailed filing data is available for this year.$8.39$10.0$1.62$2.53$2.76$0.23
2013Summary only. Only limited summary data is available for this year.$8.56$10.1$1.52$2.63$2.96$0.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.94$9.99$1.05$3.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.40$9.29$0.89$3.46
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 6, 2020
Return Version
2018v3.1
Gross Receipts
$2,042,320
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,247,239$5,020,203▼ $227,036
Cash and Non-Interest-Bearing Accounts$1,338,612$1,356,623▲ $18,011
Prepaid Expenses and Deferred Charges$25,837$41,048▲ $15,211
Savings and Temporary Cash Investments$0$15,000▲ $15,000
Accounts Receivable$22,951$5,367▼ $17,584
Inventories for Sale or Use$3,564$4,748▲ $1,184
Total Assets$7,163,203$6,967,287▼ $195,916
Other Assets Total$525,000$524,298▼ $702
Liabilities
Other Liabilities$5,893,232$6,717,625▲ $824,393
Tax Exempt Bond Liabilities$3,344,987$3,108,146▼ $236,841
Mortgage Notes Payable Secured by Investment Property$1,291,493$1,290,820▼ $673
Accounts Payable and Accrued Expenses$116,104$100,195▼ $15,909
Deferred Revenue$10,000$7,200▼ $2,800
Total Liabilities$10,655,816$11,223,986▲ $568,170
Net Assets / Fund Balance
Unrestricted Net Assets$-3,492,613$-4,256,699▼ $764,086
Total Net Assets Fund Balance$-3,492,613$-4,256,699▼ $764,086
Total Liabilities and Net Assets / Fund Balance$7,163,203$6,967,287▼ $195,916

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,127,169$3,303,028$7,430,197
Equipment$109,785$715,858$825,643
Land$700,000-$700,000
Leasehold Improvements$82,614$463,848$546,462
Other Land Buildings$635$68,552$69,187
Other Assets Org$524,298--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Nutz FaithAsst. Secretary/treasurer$133,516$133,516
Turnbull TomBoard Chair$46,604$46,604

Board Members and Trustees

NameTitle
King Michael WPresident
Carrington EdwinaDirector
Edeburn AndyDirector
Kenney BobDirector
Wieczorek SharonDirector
Budzynski Joseph aAsst. Secretary/treasurer
Gavin Nancy aAsst. Secretary/treasurer
Perry Deborah aAsst. Secretary/treasurer (part Yr)
Olson Wayne CEvp - Healthcare
Moore CarolSecretary
Maher TomTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,262
Program Service Revenue
$2,012,655
Investment Income
$27,403
Other Revenue
$0
All Other Contributions
$2,262
Change in Net Assets
$-764,086
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,418,485
Salaries, Compensation, and Employee Benefits$1,387,921
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,089,140$43,361-$1,132,501
Depreciation Depletion$278,714$2,581-$281,295
Interest$268,506$232-$268,738
Occupancy$179,638$1,687-$181,325
Fees for Services Other$64,289$90,671-$154,960
Other Employee Benefits$140,440$7,805-$148,245
Payroll Taxes$102,832--$102,832
Office Expenses$62,051--$62,051
Insurance$57,959$462-$58,421
Information Technology$38,867--$38,867
Travel$33,834--$33,834
All Other Expenses$30,242--$30,242
Other Expenses$29,701$670-$29,701
Advertising$16,600--$16,600
Fees for Services Legal$12,277--$12,277
Fees for Services Accounting$5,923--$5,923
Pension Plan Contributions$4,343--$4,343
Conferences and Meetings$2,684--$2,684
Total Functional Expenses$2,658,937$147,469$0$2,806,406
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

Other Reported Liabilities

LiabilityAmount
Intercompany Payable - Voans$6,652,452
Security Deposits$50,770
Due to Third Party Payors$10,446
Unclaimed Property$3,957
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Thomas turnbull, michael king, joseph budzynski, nancy gavin, deborah perry, faith nutz and wayne olson have business relationships with each other, because they serve as directors, officers, and/or key employees of volunteers of america, inc., volunteers of america national services, and/or their related organizations.

Form 990, Part VI, Section A, Line 6

Voa national services and boulder city hospital, inc. Are members.

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

Voa national services and boulder city hospital, inc. Are members who may elect the board of directors.

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

Voa national services and boulder city hospital, inc. Approve amendments to the articles and bylaws.

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

The tax return is provided to the board of directors for review. The board has 5 days to review and give comments on the return. After the comment period, any changes will be made to the return. The board of directors is then provided a complete copy of the final return upon filing.

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

The policy requires officers, directors and key employees to disclose annually interests that could give rise to conflicts. The policy and disclosure form are distributed and collected annually, and individuals are required to update the disclosure form throughout the year in the event potential conflicts arise. Potential conflicts of interest are reviewed by the board of directors and may require said officer, director and key employee to recuse from participation to avoid a conflict of interest.

Form 990, Part VI, Section B, Line 15

The organization's president and ceo is not compensated by the organization but is compensated by a related organization, volunteers of america, inc. Volunteers of america's process for determining compensation of the organization's president and ceo, officers, and key employees includes review and approval by a compensation committee formed of independent members appointed by the board of directors. The compensation committee conducts a market compensation analysis review every year and reports their conclusions to the board of directors.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Homestead at Boulder City Inc
EIN
41-1887579
Phone
9529410305
Address
7485 OFFICE RIDGE CIRCLE, EDEN PRAIRIE, MN 55344

Signing Officer

Name
Nancy Gavin
Title
VP Financial Services
Phone
9529410305
Signed
2020-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Budzynski
Formed
1996
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
6
Employees
83
Volunteers
45

Preparer

Firm
Baker Tilly Virchow Krause Llp
Address
225 S 6TH ST 2300, MINNEAPOLIS, MN 55402
Preparer
Lawrence H Mohr CPA
Phone
6128764500
Supplemental Narrative

Additional Explanations

PART I, LINE 1 AND PART III, LINE 1:

Established in 1896, volunteers of america is a national, nonprofit, faith-based organization providing services such as housing and healthcare to more than 2 million people in over 400 communities each year. In support of that mission, the homestead at boulder city, inc. Was organized and is operated to engage in, advance, support, promote, and administer health and health-related services and supportive services to seniors and disabled individuals.

Financial Statement Notes

PART X, LINE 2:

The organization has evaluated its tax positions for uncertainty and has no unrecognized tax matters that are required to be disclosed. The organization had no income tax expense and there were no cash payments for income taxes in 2019 and 2018.

Raw XML AppendixShowing 400 of 2,164 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS

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