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Iris Park Commons FY2023 filing

Tax-deductible

St Paul, MN501(c)(3)Housing EIN 41-1433860Revenue $4.4M in FY2023

On file with the IRSehomesmn.org1850 University Avenue West, 55104-3930 · St Paul, MNTax-exempt since Jun 2015Publicly supported — 509(a)(2)

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Provide for the physical, social, spiritual, and psychological needs of its residents and are designed to serve adults 62 and older.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $11K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.1M
158% of total assets
Concern: liabilities are 158% of assets; over 80%.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.4M
+8% vs prior year
Spent
$4.2M
To programs
82%
Net assets
−$2.2M
By yearFY2020–FY2024
Revenue
$4.4M
FY2023▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.2M
FY2021$3.5M
FY2022$4.0M
FY2023$4.4M
FY2024$4.7M
Expenses
$4.2M
FY2023▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.8M
FY2021$4.1M
FY2022$4.3M
FY2023$4.2M
FY2024$4.5M
Net assets
−$2.2M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.4M
FY2021−$2.0M
FY2022−$2.4M
FY2023−$2.2M
FY2024−$2.0M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2015.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $3.4M Management & general 18% · $751K

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

28 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Ostenso
Treasurer
$0Pt VII · Sec A
Carol Forbes
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Cook
Director (thru Nov)
$0Pt VII · Sec A
$0Pt VII · Sec A
See Iris Park Commons executive salaries →

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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

Supports seniors' well-being through housing, social programs, and spiritual care.

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Provided by the organization

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1 program · $3.4M · in their own filed words · FY2023
01

Iris park commons is responsible for the operation of a 61 unit congregate housing facility attached to episcopal church home of minnesota. The organization provides for the physical, social, spiritual, and psychological needs of its residents and are designed to serve adults 62 and older.

$3.4Mprogram 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 · FY2022
Episcopal Homes Foundation of MinnesotaFY2022$12K
Total grants receivedfrom 1 funder$12K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.4M
Ln 12
Fees for servicesLn 2g$4.2M
Other incomeLn 4–11$139K
Investment incomeLn 3$45K
Money outPt IX
$4.2M
Ln 25
Programscol B$3.4M
Managementcol C$751K
Owns and owesPt X
−$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$3.9M
LiabilitiesLn 26$6.1M
PeoplePt VI, VII
28
listed · VII A
PaidVII A0
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19K
Government grantsLn 1e$19K
Fees for servicesLn 2g$4.2M
Investment incomeLn 3$45K
Other incomeLn 4–11$139K
Total revenueLn 12$4.4M
Assets in detailPt X, end of year
CashLn 1$89K
SavingsLn 2$1.4M
Cash and savings togetherLn 1–2$1.5M
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$438K
Total assetsLn 16$3.9M
LiabilitiesLn 26$6.1M
Net assetsLn 32−$2.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 628
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$1.3M$1.5M
Land, buildings, equipmentLn 10c$1.9M$1.7M
Total assetsLn 16$4.3M$3.9M
LiabilitiesLn 26$6.7M$6.1M
Net assetsLn 32−$2.4M−$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.8M$1.7M$147K
Pension plan contributionsLn 8$15K$13K$1K
Other employee benefitsLn 9$86K$79K$7K
Payroll taxesLn 10$184K$170K$15K
Management feesLn 11a$254K$53K$201K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$478K$242K$236K
Office expensesLn 13$53K$30K$23K
Information technologyLn 14$35K$8K$28K
OccupancyLn 16$337K$337K
TravelLn 17$127$20$107
Conferences, conventions and meetingsLn 19$12K$5K$7K
InterestLn 20$203K$203K
Depreciation, depletion and amortizationLn 22$309K$309K
Other expenses (24a–d)Ln 24$321K$277K$44K
All other expensesLn 24e$61K$33K$28K
Total functional expensesLn 25$4.2M$3.4M$751K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.7M$4.5M$216K−$2.0M 990 PDF
FY2023 Viewing $4.4M$4.2M$163K−$2.2M 990 PDF
FY2022 $4.0M$4.3M−$313K−$2.4M 990 PDF
FY2021 $3.5M$4.1M−$529K−$2.0M 990 PDF
FY2020 $4.2M$3.8M$406K−$1.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $4,354,916 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$18,600
I-9 Program service revenuePrior year $3,908,294$4,152,813
I-10 Investment incomePrior year $5,272$44,576
I-11 Other revenuePrior year $115,500$138,927
I-12 Total revenuePrior year $4,029,066$4,354,916
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 $766,403$2,115,406
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,575,568$2,076,723
I-18 Total expensesPrior year $4,341,971$4,192,129
I-19 Revenue less expensesPrior year −$312,905$162,787
Part VI · Governance 23 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
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 $4,354,916 across 5 lines filed
Lines not itemized here account for $138,927 of total revenue; see the IRS return.
VIII-1e Government grants$18,600
VIII-1h Total contributions, gifts and grants$18,600
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,152,813$4,152,813
VIII-3 Investment incomeExcluded from tax $44,576$44,576
VIII-12 Total revenueRelated to mission $4,152,813 · Unrelated business $0 · Excluded from tax $183,503$4,354,916
Part IX · Statement of functional expenses $4,192,129 across 17 lines filed
IX-7 Other salaries and wagesPrograms $1,682,830 · Management $147,439$1,830,269
IX-8 Pension plan contributionsPrograms $13,428 · Management $1,174$14,602
IX-9 Other employee benefitsPrograms $79,181 · Management $6,926$86,107
IX-10 Payroll taxesPrograms $169,594 · Management $14,834$184,428
IX-11a Management feesPrograms $52,853 · Management $201,499$254,352
IX-11b Legal feesManagement $4,020$4,020
IX-11c Accounting feesManagement $9,743$9,743
IX-11g Other fees for servicesPrograms $241,614 · Management $235,971$477,585
IX-13 Office expensesPrograms $29,576 · Management $22,950$52,526
IX-14 Information technologyPrograms $7,651 · Management $27,765$35,416
IX-16 OccupancyPrograms $337,237$337,237
IX-17 TravelPrograms $20 · Management $107$127
IX-19 Conferences, conventions and meetingsPrograms $5,082 · Management $6,746$11,828
IX-20 InterestPrograms $203,206$203,206
IX-22 Depreciation, depletion and amortizationPrograms $308,651$308,651
IX-24 Other expenses (24a–d)Programs $277,461 · Management $43,587$321,048
IX-24e All other expensesPrograms $32,520 · Management $28,464$60,984
IX-25 Total functional expensesPrograms $3,440,904 · Management $751,225 · Fundraising $0$4,192,129
Part X · Balance sheet $3,865,227 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $66,178$88,917
X-2 Savings and temporary cash investmentsStart of year $1,267,854$1,365,703
X-4 Accounts receivableStart of year $217,738$248,644
X-9 Prepaid expenses and deferred chargesStart of year $8,418$10,125
X-10c Land, buildings and equipment, netStart of year $1,946,518$1,714,105
X-15 Other assetsStart of year $839,308$437,733
X-16 Total assetsStart of year $4,346,014$3,865,227
X-17 Accounts payable and accrued expensesStart of year $162,258$226,125
X-20 Tax-exempt bond liabilitiesStart of year $5,379,090$5,190,899
X-25 Other liabilitiesStart of year $713,400$186,818
X-26 Total liabilitiesStart of year $6,731,849$6,088,258
X-27 Net assets without donor restrictionsStart of year −$2,389,930−$2,227,126
X-28 Net assets with donor restrictionsStart of year $4,095$4,095
X-32 Total net assets or fund balancesStart of year −$2,385,835−$2,223,031
X-33 Total liabilities and net assetsStart of year $4,346,014$3,865,227
Part XI · Reconciliation of net assets −$2,223,031 net assets at year end
XI-1 Total revenue$4,354,916
XI-2 Total expenses$4,192,129
XI-3 Revenue less expenses$162,787
XI-4 Net assets at start of year−$2,385,835
XI-5 Net unrealized gains (losses) on investments$17
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$2,223,031

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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