Cokato Charitable Trust FY2024 filing

Tax-deductible

Cokato, MN501(c)(3)Since 1983EIN 41-1456124Revenue $9.9M in FY2024

On file with the IRScokatoseniorcare.com182 Sunset Ave Nw, 55321-9620 · Cokato, MNTax-exempt since Oct 1983Publicly supported charity — 170(b)(1)(A)(vi)

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The purpose of Cokato Charitable Trust division is to provide quality health and housing services that enhance the quality of life and maintain a maximum level of functioning for our residents.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$179K 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

FY2024 · 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
5 of 6
filings with a surplus
Average surplus $887K a year · 10% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$179K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.6M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.9M
+22% vs prior year
Spent
$7.9M
To programs
92%
Net assets
$6.6M
By yearFY2020–FY2025
Revenue
$9.9M
FY2024▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.9M
FY2021$8.8M
FY2022$8.9M
FY2023$8.1M
FY2024$9.9M
FY2025$9.6M
Expenses
$7.9M
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.9M
FY2021$8.3M
FY2022$8.0M
FY2023$7.2M
FY2024$7.9M
FY2025$8.4M
Net assets
$6.6M
FY2024▲ +47%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.4M
FY2021$3.0M
FY2022$3.6M
FY2023$4.5M
FY2024$6.6M
FY2025$7.8M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 Oct 1983.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $7.3M Management & general 8% · $621K

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

10 people listed on the 990; $179K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Administrator/CEO
$107,230Pt VII · Sec A
Office Manager
$71,777Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
James Broichadministrator—————$223,886
James Broich Administrator————$157,268—
Tresha Melquist$136,379$107,230$114,304$90,581$80,948—
James Broichformer———$120,071——
Jamie Christianson$75,789$71,777$69,570$61,020$58,082—
Patrick Rafferty—————$50,003
Anita Carlson—————$20,839

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 housing and services to meet elderly persons' physical, social, and psychological needs.

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Provided by the organization

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1 program · $7.3M · in their own filed words · FY2023
01

Cokato Charitable Trust (CCT) provides quality health and housing services to adults in our community and the surrounding area. CCT offers services through Cokato Manor skilled nursing facility, Brookridge Assisted Living, and Edgewood Gables senior apartments.

$7.3Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$20K
Grants paid · 8 grants · $345K · 2019–2024
Unitemized GrantFY2024$62,688
Unitemized GrantFY2024$18,820
Unitemized GrantFY2023$31,365
Unitemized GrantFY2023$18,873
Unitemized GrantFY2022$29,409
Unitemized GrantFY2021$30,473
Unitemized GrantFY2020$81,058
Unitemized GrantFY2019$72,417

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$9.9M
Ln 12
Fees for servicesLn 2g$9.0M
Gifts and grantsLn 1h$402K
Other incomeLn 4–11$253K
Money outPt IX
$7.9M
Ln 25
Programscol B$7.3M
Managementcol C$621K
Owns and owesPt X
$6.6M
net assets · Ln 32
Cash and savingsLn 1–2$876K
Total assetsLn 16$11.2M
LiabilitiesLn 26$4.6M
PeoplePt VI, VII
10
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$402K
Government grantsLn 1e$367K
Fundraising eventsLn 1c$20K
Fees for servicesLn 2g$9.0M
Investment incomeLn 3$175K
Other incomeLn 4–11$253K
Total revenueLn 12$9.9M
Assets in detailPt X, end of year
SavingsLn 2$876K
Cash and savings togetherLn 1–2$876K
InvestmentsLn 11–13$3.9M
Land, buildings, equipmentLn 10c$5.0M
Total assetsLn 16$11.2M
LiabilitiesLn 26$4.6M
Net assetsLn 32$6.6M
OperationsPt I, VI
EmployeesI 5208
VolunteersI 615
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 FY24End FY24
Cash and savingsLn 1–2$2.0M$876K
InvestmentsLn 11–13$3.3M$3.9M
Land, buildings, equipmentLn 10c$3.6M$5.0M
Total assetsLn 16$9.7M$11.2M
LiabilitiesLn 26$5.2M$4.6M
Net assetsLn 32$4.5M$6.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$50K$50K
Pay of current officers, directors and key staffLn 5$244K$244K
Other salaries and wagesLn 7$3.9M$3.8M$87K
Other employee benefitsLn 9$375K$371K$4K
Payroll taxesLn 10$320K$297K$23K
Legal feesLn 11b$16K$16K
Accounting feesLn 11c$26K$26K
Other fees for servicesLn 11g$619K$619K
Advertising and promotionLn 12$17K$17K
Office expensesLn 13$686K$657K$29K
OccupancyLn 16$304K$288K$16K
TravelLn 17$5K$5K
Conferences, conventions and meetingsLn 19$11K$7K$4K
InterestLn 20$206K$195K$11K
Depreciation, depletion and amortizationLn 22$617K$582K$35K
InsuranceLn 23$118K$111K$7K
Other expenses (24a–d)Ln 24$357K$309K$48K
All other expensesLn 24e$61K$11K$50K
Total functional expensesLn 25$7.9M$7.3M$621K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $9.6M$8.4M$1.1M$7.8M 990 PDF
FY2024 Viewing $9.9M$7.9M$2.0M$6.6M 990 PDF
FY2023 $8.1M$7.2M$833K$4.5M 990 PDF
FY2022 $8.9M$8.0M$889K$3.6M 990 PDF
FY2021 $8.8M$8.3M$527K$3.0M 990 PDF
FY2020 $7.9M$7.9M−$24K$2.4M 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 FY2024 990 (6 parts)
Part I · Summary $9,850,110 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $27,112$401,813
I-9 Program service revenuePrior year $7,130,243$9,019,938
I-10 Investment incomePrior year $308,596$175,085
I-11 Other revenuePrior year $590,338$253,274
I-12 Total revenuePrior year $8,056,289$9,850,110
I-13 Grants and similar amounts paidPrior year $29,409$50,238
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,118,282$4,796,041
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,075,576$3,042,512
I-18 Total expensesPrior year $7,223,267$7,888,791
I-19 Revenue less expensesPrior year $833,022$1,961,319
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $9,850,110 across 9 lines filed
Lines not itemized here account for $34,450 of total revenue; see the IRS return.
VIII-1c Fundraising events$20,120
VIII-1e Government grants$366,678
VIII-1f All other contributions, gifts and grants$15,015
VIII-1h Total contributions, gifts and grants$401,813
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,985,488$8,985,488
VIII-3 Investment incomeExcluded from tax $175,085$175,085
VIII-8 Net income from fundraising eventsExcluded from tax −$6,800−$6,800
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $260,074$260,074
VIII-12 Total revenueRelated to mission $9,280,012 · Unrelated business $0 · Excluded from tax $168,285$9,850,110
Part IX · Statement of functional expenses $7,888,791 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $50,238$50,238
IX-5 Pay of current officers, directors and key staffManagement $243,824$243,824
IX-7 Other salaries and wagesPrograms $3,770,482 · Management $87,251$3,857,733
IX-9 Other employee benefitsPrograms $371,092 · Management $3,680$374,772
IX-10 Payroll taxesPrograms $296,553 · Management $23,159$319,712
IX-11b Legal feesManagement $15,629$15,629
IX-11c Accounting feesManagement $26,306$26,306
IX-11g Other fees for servicesPrograms $618,672$618,672
IX-12 Advertising and promotionManagement $16,968$16,968
IX-13 Office expensesPrograms $656,759 · Management $29,207$685,966
IX-16 OccupancyPrograms $288,199 · Management $16,122$304,321
IX-17 TravelManagement $4,787$4,787
IX-19 Conferences, conventions and meetingsPrograms $6,619 · Management $4,101$10,720
IX-20 InterestPrograms $195,202 · Management $11,004$206,206
IX-22 Depreciation, depletion and amortizationPrograms $582,267 · Management $34,737$617,004
IX-23 InsurancePrograms $111,058 · Management $6,626$117,684
IX-24 Other expenses (24a–d)Programs $309,178 · Management $47,778$356,956
IX-24e All other expensesPrograms $11,184 · Management $50,109$61,293
IX-25 Total functional expensesPrograms $7,267,503 · Management $621,288 · Fundraising $0$7,888,791
Part X · Balance sheet $11,205,917 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,028,487$876,480
X-4 Accounts receivableStart of year $648,531$1,336,538
X-9 Prepaid expenses and deferred chargesStart of year $62,984$65,892
X-10c Land, buildings and equipment, netStart of year $3,637,827$5,025,988
X-11 Publicly traded securitiesStart of year $3,278,986$3,901,019
X-16 Total assetsStart of year $9,656,815$11,205,917
X-17 Accounts payable and accrued expensesStart of year $633,192$579,094
X-20 Tax-exempt bond liabilitiesStart of year $4,307,567$3,799,392
X-25 Other liabilitiesStart of year $224,962$224,962
X-26 Total liabilitiesStart of year $5,176,271$4,606,301
X-27 Net assets without donor restrictionsStart of year $4,480,544$6,599,616
X-32 Total net assets or fund balancesStart of year $4,480,544$6,599,616
X-33 Total liabilities and net assetsStart of year $9,656,815$11,205,917
Part XI · Reconciliation of net assets $6,599,616 net assets at year end
XI-1 Total revenue$9,850,110
XI-2 Total expenses$7,888,791
XI-3 Revenue less expenses$1,961,319
XI-4 Net assets at start of year$4,480,544
XI-5 Net unrealized gains (losses) on investments$157,753
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,599,616

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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