Capitol Lakes INC FY2021 filing

Tax-deductible

Madison, WI501(c)(3)Since 1990Human ServicesEIN 39-1412320Revenue $22.1M in FY2021

On file with the IRSretirement.org333 W Main St, 53703-2777 · Madison, WITax-exempt since Sep 1982Publicly supported — 509(a)(2)

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Capitol Lakes is a premier continuing care retirement community dedicated to enriching lives.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$632K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average surplus $136K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$632K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1.3M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$101.8M
234% of total assets
Concern: liabilities are 234% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$22.1M
+1% vs prior year
Spent
$22.9M
To programs
81%
Net assets
−$58.4M
By yearFY2020–FY2025
Revenue
$22.1M
FY2021▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$21.8M
FY2021$22.1M
FY2022$33.9M
FY2023$21.8M
FY2024$22.8M
FY2025$25.1M
Expenses
$22.9M
FY2021-0.4%
Tap a bar for its year
Expenses by fiscal year
FY2020$23.0M
FY2021$22.9M
FY2022$25.0M
FY2023$24.5M
FY2024$25.4M
FY2025$25.9M
Net assets
−$58.4M
FY2021▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020−$57.7M
FY2021−$58.4M
FY2022−$50.2M
FY2023−$52.9M
FY2024−$54.8M
FY2025−$55.7M

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1982.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $18.5M Management & general 19% · $4.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $632K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$246,382Pt VII · Sec A
Health Center Administrator
$146,224Pt VII · Sec A
Director of Nursing
$125,952Pt VII · Sec A
HR Director
$113,214Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Tim Conroy’s $340K as Executive Director is at the 83rd percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Tim Conroy$340,440$305,512$279,824$256,859$246,382$223,600
Kristin Vater$181,854$174,284$154,741$152,109$146,224$136,632
Holly Johnson$151,254$131,408$117,588———
Rebecca Wylesky-Durst$146,115$129,427————
Steven Mellstrom$138,655$133,277$133,988$116,291$113,214$109,019
Dayle Tessner——$123,243$129,725$125,952—
Daniel Harvey$128,920$126,158————
Tsering Damdul——$122,152$106,324—$102,400

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers care and housing for the elderly.

Questions for Capitol Lakes INC

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Provided by the organization

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1 program · $18.5M · in their own filed words · FY2020
01

Capitol lakes is a continuing care retirement community, dedicated to enhancing our residents' quality of life in a stimulating, secure environment. We provide high-quality services including housing, nutritious meals, nursing, housekeeping, maintenance, and other support to those we serve.

$18.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$1.3M

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$22.1M
Ln 12
Fees for servicesLn 2g$21.7M
Gifts and grantsLn 1h$234K
Investment incomeLn 3$72K
Money outPt IX
$22.9M
Ln 25
Programscol B$18.5M
Managementcol C$4.4M
Owns and owesPt X
−$58.4M
net assets · Ln 32
Cash and savingsLn 1–2$5.2M
Total assetsLn 16$43.5M
LiabilitiesLn 26$101.8M
PeoplePt VI, VII
11
listed · VII A
PaidVII A4
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$234K
Fees for servicesLn 2g$21.7M
Investment incomeLn 3$72K
Other incomeLn 4–11$17K
Gains on assetsLn 7$16K
Total revenueLn 12$22.1M
Assets in detailPt X, end of year
CashLn 1$5.2M
Cash and savings togetherLn 1–2$5.2M
InvestmentsLn 11–13$2.8M
Land, buildings, equipmentLn 10c$32.5M
Other assetsLn 15$833K
Total assetsLn 16$43.5M
LiabilitiesLn 26$101.8M
Net assetsLn 32−$58.4M
OperationsPt I, VI
EmployeesI 5413
VolunteersI 650
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3.7M$5.2M
InvestmentsLn 11–13$2.6M$2.8M
Land, buildings, equipmentLn 10c$33.6M$32.5M
Total assetsLn 16$42.4M$43.5M
LiabilitiesLn 26$100.1M$101.8M
Net assetsLn 32−$57.7M−$58.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$272K$272K
Other salaries and wagesLn 7$8.7M$7.8M$914K
Pension plan contributionsLn 8$407K$348K$59K
Other employee benefitsLn 9$1.3M$1.2M$146K
Payroll taxesLn 10$649K$574K$76K
Management feesLn 11a$1.5M$1.5M
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$25K$25K
Investment management feesLn 11f$4K$4K
Other fees for servicesLn 11g$956K$567K$389K
Advertising and promotionLn 12$324K$324K
Office expensesLn 13$1.2M$1.0M$165K
Information technologyLn 14$204K$204K
OccupancyLn 16$1.4M$1.4M$736
TravelLn 17$33K$2K$32K
Conferences, conventions and meetingsLn 19$79K$30K$49K
InterestLn 20$32K$32K
Depreciation, depletion and amortizationLn 22$2.6M$2.6M
InsuranceLn 23$205K$205K
Other expenses (24a–d)Ln 24$3.0M$2.8M$194K
Total functional expensesLn 25$22.9M$18.5M$4.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $25.1M$25.9M−$720K−$55.7M 990 PDF
FY2024 $22.8M$25.4M−$2.6M−$54.8M 990 PDF
FY2023 $21.8M$24.5M−$2.7M−$52.9M 990 PDF
FY2022 $33.9M$25.0M$8.9M−$50.2M 990 PDF
FY2021 Viewing $22.1M$22.9M−$849K−$58.4M 990 PDF
FY2020 $21.8M$23.0M−$1.2M−$57.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $22,055,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $258,965$234,440
I-9 Program service revenuePrior year $21,500,974$21,732,097
I-10 Investment incomePrior year −$14,438$71,805
I-11 Other revenuePrior year $16,173$16,658
I-12 Total revenuePrior year $21,761,674$22,055,000
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $11,679,407$11,384,875
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,312,726$11,518,904
I-18 Total expensesPrior year $22,992,133$22,903,779
I-19 Revenue less expensesPrior year −$1,230,459−$848,779
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $22,055,000 across 8 lines filed
Lines not itemized here account for $1,158,253 of total revenue; see the IRS return.
VIII-1d Related organizations$66,000
VIII-1f All other contributions, gifts and grants$168,440
VIII-1h Total contributions, gifts and grants$234,440
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,573,844$20,573,844
VIII-3 Investment incomeExcluded from tax $55,986$55,986
VIII-6 Net rental income or lossExcluded from tax $16,658$16,658
VIII-7 Net gain or loss on sales of assetsExcluded from tax $15,819$15,819
VIII-12 Total revenueRelated to mission $21,732,097 · Unrelated business $0 · Excluded from tax $88,463$22,055,000
Part IX · Statement of functional expenses $22,903,779 across 20 lines filed
IX-5 Pay of current officers, directors and key staffManagement $272,463$272,463
IX-7 Other salaries and wagesPrograms $7,812,883 · Management $914,279$8,727,162
IX-8 Pension plan contributionsPrograms $347,941 · Management $59,016$406,957
IX-9 Other employee benefitsPrograms $1,183,168 · Management $146,007$1,329,175
IX-10 Payroll taxesPrograms $573,616 · Management $75,502$649,118
IX-11a Management feesManagement $1,525,022$1,525,022
IX-11b Legal feesManagement $4,176$4,176
IX-11c Accounting feesManagement $25,000$25,000
IX-11f Investment management feesManagement $4,140$4,140
IX-11g Other fees for servicesPrograms $567,000 · Management $389,053$956,053
IX-12 Advertising and promotionManagement $324,143$324,143
IX-13 Office expensesPrograms $1,003,444 · Management $165,236$1,168,680
IX-14 Information technologyManagement $204,469$204,469
IX-16 OccupancyPrograms $1,371,220 · Management $736$1,371,956
IX-17 TravelPrograms $1,796 · Management $31,703$33,499
IX-19 Conferences, conventions and meetingsPrograms $29,921 · Management $49,310$79,231
IX-20 InterestPrograms $32,263$32,263
IX-22 Depreciation, depletion and amortizationPrograms $2,562,015$2,562,015
IX-23 InsurancePrograms $205,294$205,294
IX-24 Other expenses (24a–d)Programs $2,829,092 · Management $193,871$3,022,963
IX-25 Total functional expensesPrograms $18,519,653 · Management $4,384,126 · Fundraising $0$22,903,779
Part X · Balance sheet $43,454,270 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $3,721,637$5,175,147
X-4 Accounts receivableStart of year $1,343,049$1,677,292
X-8 Inventories for sale or useStart of year $103,408$112,619
X-9 Prepaid expenses and deferred chargesStart of year $175,314$380,767
X-10c Land, buildings and equipment, netStart of year $33,588,965$32,510,784
X-11 Publicly traded securitiesStart of year $2,598,453$2,764,650
X-15 Other assetsStart of year $872,484$833,011
X-16 Total assetsStart of year $42,403,310$43,454,270
X-17 Accounts payable and accrued expensesStart of year $3,351,784$2,350,862
X-19 Deferred revenueStart of year $8,557,973$9,547,129
X-25 Other liabilitiesStart of year $41,942,431$45,391,273
X-26 Total liabilitiesStart of year $100,100,442$101,839,342
X-27 Net assets without donor restrictionsStart of year −$58,621,727−$59,278,106
X-28 Net assets with donor restrictionsStart of year $924,595$893,034
X-32 Total net assets or fund balancesStart of year −$57,697,132−$58,385,072
X-33 Total liabilities and net assetsStart of year $42,403,310$43,454,270
Part XI · Reconciliation of net assets −$58,385,072 net assets at year end
XI-1 Total revenue$22,055,000
XI-2 Total expenses$22,903,779
XI-3 Revenue less expenses−$848,779
XI-4 Net assets at start of year−$57,697,132
XI-5 Net unrealized gains (losses) on investments$91,725
XI-9 Other changes in net assets$69,114
XI-10 Net assets at end of year−$58,385,072

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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