PRINCE OF PEACE SENIOR APTS INC

EIN: 411767063 501(c)(3) Housing & Shelter

HUTCHINSON, MN

Total Revenue
$749,878
Total Expenses
$667,777
Total Assets
$5,384,546
Net Assets
$2,183,384
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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
MN
Principal Officer
AL KOGLIN
Phone
3202347588
Tax Period
2023-01-01 to 2023-12-31

PRINCE OF PEACE SENIOR APTS INC, founded in 1993, is a small nonprofit in the Housing & Shelter sector that reported $750K in total revenue in fiscal year 2023. Expenses of $668K left a modest 11% surplus.

Mission

PROVIDE INDEPENDENT SENIOR HOUSING DESIGNED TO CREATE A DIGNIFIED LIFESTYLE WITHIN A SENIOR COMMUNITY. PROVIDE CONVENIENCES AND SERVICES THAT ENHANCE THE QUALITY OF LIFE AND SOCIAL INVOLVEMENT OF EACH COMMUNITY MEMBER.

Program Service Accomplishments

Program 1
Expenses: $577,499

PRINCE OF PEACE SENIOR LIVING IS A NON-PROFIT ORGANIZATION COMMITTED TO PROVIDING SENIOR CHRISTIAN HOUSING AT MARKET RATE. THIS YEAR POPRL FINISHED WITH 100% OCCUPANCY WITH 23 PEOPLE ON THE WAITING...

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PRINCE OF PEACE SENIOR LIVING IS A NON-PROFIT ORGANIZATION COMMITTED TO PROVIDING SENIOR CHRISTIAN HOUSING AT MARKET RATE. THIS YEAR POPRL FINISHED WITH 100% OCCUPANCY WITH 23 PEOPLE ON THE WAITING LIST. THE ORGANIZATION CONTINUES TO MAKE BUILDING UPDATES AND FUNDRAISE. OUR GOAL IS TO FUNDRAISE AND GRANT WRITE IN ORDER TO SUPPLEMENT OUR BUDGET FOR "EXTRAS" WITHOUT TAKING AWAY FROM THE OPERATING BUDGET. THE KITCHEN/HOUSEKEEPING STAFF CONTINUED WITH ADDITIONAL HOUSEKEEPING PRACTICES TO KEEP AREAS SANITARY AND SAFE. THE RESIDENT SERVICES STAFF MEMBER HAS BEEN ABLE TO BRING BACK ALL OF OUR ACTIVITIES ALONG WITH ADDITIONAL OPTIONS AND ENTERTAINMENT SAFELY WHILE ALSO TAKING EXTRA CLEANING PRECAUTIONS. OUR RSS HAD A SUCCESSFUL POPCORN FUNDRAISER THAT PROVIDED FUNDING TO PURCHASE A POPCORN MACHINE, STAND, AND POPCORN FOR RESIDENTS TO ENJOY ON MOVIE DAYS. THE FOOD PROGRAM (OPTIONAL NOON MEAL)CHANGED DUE TO STAFFING SHORTAGES AND WE NOW OFFER THE NOON MEAL 5 DAYS A WEEK, MONDAY THRU FRIDAY, HOLIDAYS INCLUDED. WE HAVE BEEN ABLE TO SERVE ALL OF OUR MEALS IN THE DINING ROOM AND ONLY DELIVERING TO THOSE WHO ARE ILL. THE "SWEET SHOPPE" THAT OFFERS BREAKFAST ITEMS AT A NOMINAL FEE (ALA CARTE) IS OPEN MONDAY THRU FRIDAY AND IS A CHARGE ONLY OPTION TO PREVENT ANY HANDLING OF CASH. OTHER SERVICES ALA CARTE (GENERAL HOUSEKEEPING AND LINEN SERVICE) SAW A SMALL INCREASE LAST YEAR AND ARE STILL NOT USED BY THE MAJORITY. THE ORGANIZATION HAS A CONTINUED PARTNERSHIP WITH ADARA HOME HEALTH CARE IN ORDER TO OFFER THE RESIDENT'S HEALTH RELATED SERVICES. RESIDENTS WHO NEED HEALTH SERVICES CONTRACT SEPARATELY THROUGH THEM. THE ONLY BUILDING CHANGES WERE ADDING LEAF RELIEF TO EXISTING GUTTERS ON THE SOUTH SIDE OF THE EAST EXPANSION, ADDING GUTTERS WITH LEAF RELIEF TO THE EAST SIDE OF THE SOUTH NEIGHBORHOOD AND THE STAND-ALONE GARAGES. WE HAD BEEN STRUGGLING WITH WATER BUILDUP/POOLING IN THESE AREAS ALONG WITH LEAVES CLOGGING GUTTERS AND ADDED THESE ITEMS AS A SOLUTION.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,566
Program Service Revenue $746,493
Investment Income $819
Other Revenue $0
TOTAL REVENUE $749,878

Expense Breakdown

Grants Paid $0
Salaries & Benefits $198,068
Fundraising Expenses $40,554
Program Expenses $577,499
Other Expenses $469,709
TOTAL EXPENSES $667,777

Year-over-Year Comparison

2023 2022 Change
Revenue $749,878 $746,567 +0.0%
Expenses $667,777 $677,934 0.0%
Net Income $82,101 $68,633 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
11
Volunteers
83

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RENEE BRYAN DIRECTOR 2.30
Director
$0 $0 $0
GAIL GILLARD DIRECTOR 2.30
Director
$0 $0 $0
SCOTT HAAG DIRECTOR 2.30
Director
$0 $0 $0
GARY HAVEMEIER CHAIRMAN 2.30
Officer Director
$0 $0 $0
AL KOGLIN DIRECTOR 2.30
Director
$0 $0 $0
JOHN MACEMON DIRECTOR 2.30
Director
$0 $0 $0
DANIEL MAHON VICE CHAIR 2.30
Officer Director
$0 $0 $0
CINDY MONS SECRETARY 2.30
Officer Director
$0 $0 $0
MARY SCHAUFLER TREASURER 3.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $749,878 $667,777 $5,384,546 $82,101
2022 $746,567 $677,934 $5,412,592 $68,633
2021 $700,752 $695,093 $5,346,390 $5,659
2020 $627,241 $497,456 $5,342,247 $129,785
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