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Mercy Manor FY2023 filing

Tax-deductible

Albany, MN501(c)(3)Since 1994Housing EIN 41-1805317Revenue $227K in FY2023

On file with the IRSbenedictineliving.org/albany-mn/living-care-o334 Golfview Drive, 56307-8316 · Albany, MNTax-exempt since Apr 1995Publicly supported — 509(a)(2)

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To provide low income elderly with housing facilities and services specially designed to meet their physical, social, and psychological needs, and to promote their health, security, happiness, and usefulness in longer living, the charges for such facilities and services to be predicated upon the provision, maintenance, and operation thereof on a non-profit basis.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
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 deficit $70K a year · 27% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$282K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$227K
+10% vs prior year
Spent
$326K
To programs
65%
Net assets
$1.3M
By yearFY2020–FY2025
Revenue
$227K
FY2023▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$210K
FY2021$205K
FY2022$207K
FY2023$227K
FY2024$417K
FY2025$262K
Expenses
$326K
FY2023▼ -0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$297K
FY2021$301K
FY2022$328K
FY2023$326K
FY2024$351K
FY2025$345K
Net assets
$1.3M
FY2023▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$1.4M
FY2023$1.3M
FY2024$1.4M
FY2025$1.3M

From the FY2023 Form 990 (year ending September 2023) · see the original

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You’re viewing the FY2023 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 Apr 1995.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $211K Management & general 35% · $115K

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.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Derrick Meyer
President
$0Pt VII · Sec A
Janet Salk
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Knapp
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ron Paulsen
Director
$0Pt VII · Sec A
See Mercy Manor 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 15aNo

Programs and updates

Offers housing and services for low-income seniors, promoting their well-being and happiness.

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Provided by the organization

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1 program · $211K · in their own filed words · FY2022
01

Senior citizens housing project with 40 rental units which provide quality housing to low income senior citizens.

$211Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$227K
Ln 12
Fees for servicesLn 2g$224K
Other incomeLn 4–11$2K
Investment incomeLn 3$2K
Money outPt IX
$326K
Ln 25
Programscol B$211K
Managementcol C$115K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$202K
Total assetsLn 16$1.6M
LiabilitiesLn 26$282K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$224K
Investment incomeLn 3$2K
Other incomeLn 4–11$2K
Total revenueLn 12$227K
Assets in detailPt X, end of year
CashLn 1$200
SavingsLn 2$202K
Cash and savings togetherLn 1–2$202K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$21K
Total assetsLn 16$1.6M
LiabilitiesLn 26$282K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
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 FY23End FY23
Cash and savingsLn 1–2$219K$202K
Land, buildings, equipmentLn 10c$1.4M$1.4M
Total assetsLn 16$1.7M$1.6M
LiabilitiesLn 26$236K$282K
Net assetsLn 32$1.4M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$32K$4K$29K
Other employee benefitsLn 9$12K$11K$457
Payroll taxesLn 10$2K$2K
Management feesLn 11a$29K$29K
Legal feesLn 11b$486$486
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$24K$24K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$18K$13K$5K
OccupancyLn 16$91K$54K$37K
TravelLn 17$30$30
Depreciation, depletion and amortizationLn 22$105K$105K
Total functional expensesLn 25$326K$211K$115K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $262K$345K−$83K$1.3M 990 PDF
FY2024 $417K$351K$66K$1.4M 990 PDF
FY2023 Viewing $227K$326K−$98K$1.3M 990 PDF
FY2022 $207K$328K−$121K$1.4M 990 PDF
FY2021 $205K$301K−$97K$1.5M 990 PDF
FY2020 $210K$297K−$87K$1.6M 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 $227,481 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $204,462$223,589
I-10 Investment incomePrior year $654$1,710
I-11 Other revenuePrior year $2,120$2,182
I-12 Total revenuePrior year $207,236$227,481
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 $40,746$45,887
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $287,463$279,650
I-18 Total expensesPrior year $328,209$325,537
I-19 Revenue less expensesPrior year −$120,973−$98,056
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $227,481 across 3 lines filed
Lines not itemized here account for $2,182 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $220,374 · Excluded from tax $3,215$223,589
VIII-3 Investment incomeExcluded from tax $1,710$1,710
VIII-12 Total revenueRelated to mission $220,374 · Unrelated business $0 · Excluded from tax $7,107$227,481
Part IX · Statement of functional expenses $325,537 across 12 lines filed
IX-7 Other salaries and wagesPrograms $3,705 · Management $28,681$32,386
IX-9 Other employee benefitsPrograms $11,302 · Management $457$11,759
IX-10 Payroll taxesManagement $1,742$1,742
IX-11a Management feesManagement $29,224$29,224
IX-11b Legal feesManagement $486$486
IX-11c Accounting feesManagement $9,957$9,957
IX-11g Other fees for servicesPrograms $23,902$23,902
IX-12 Advertising and promotionManagement $1,396$1,396
IX-13 Office expensesPrograms $12,718 · Management $5,379$18,097
IX-16 OccupancyPrograms $53,933 · Management $37,295$91,228
IX-17 TravelManagement $30$30
IX-22 Depreciation, depletion and amortizationPrograms $105,330$105,330
IX-25 Total functional expensesPrograms $210,890 · Management $114,647 · Fundraising $0$325,537
Part X · Balance sheet $1,598,560 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $200$200
X-2 Savings and temporary cash investmentsStart of year $218,878$202,008
X-4 Accounts receivableStart of year $600$3,059
X-9 Prepaid expenses and deferred chargesStart of year $0$3,207
X-10c Land, buildings and equipment, netStart of year $1,414,253$1,368,821
X-15 Other assetsStart of year $17,244$21,265
X-16 Total assetsStart of year $1,651,175$1,598,560
X-17 Accounts payable and accrued expensesStart of year $17,016$44,439
X-19 Deferred revenueStart of year $770$711
X-25 Other liabilitiesStart of year $204,069$218,986
X-26 Total liabilitiesStart of year $236,236$281,677
X-27 Net assets without donor restrictionsStart of year −$2,271,184−$2,369,240
X-28 Net assets with donor restrictionsStart of year $3,686,123$3,686,123
X-32 Total net assets or fund balancesStart of year $1,414,939$1,316,883
X-33 Total liabilities and net assetsStart of year $1,651,175$1,598,560
Part XI · Reconciliation of net assets $1,316,883 net assets at year end
XI-1 Total revenue$227,481
XI-2 Total expenses$325,537
XI-3 Revenue less expenses−$98,056
XI-4 Net assets at start of year$1,414,939
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,316,883

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

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