Walker Senior Housing Corporation V in Minneapolis, Minnesota (MN)

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Walker Senior Housing Corporation V
Employer Identification Number (EIN)363566161
Name of OrganizationWalker Senior Housing Corporation V
Address3737 Bryant Ave S, Minneapolis, MN 55409-1019
ActivitiesServices for the aged (see also 153 ad 382)
SubsectionCharitable Organization
Ruling Date03/1988
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2009
Assets$0
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$-1,279,300
Amount of Income$1,492,275
Form 990 Revenue Amount$1,492,275
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Senior Citizens' Housing/Retirement Communities


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Amount of income in 2009: $1,492,275
Walker Senior Housing Corporation V: 

 $1,492,275
Other organizations performing similar types of work: 

 $1,030,903

Assets in 2009: $-1,279,300
Walker Senior Housing Corporation V: 

 $-1,279,300
Other organizations performing similar types of work: 

 $3,363,548

Expenses in 2002: $1,173,414
This organization: 

 $1,173,414
Other organizations performing similar types of work: 

 $864,769

Income to expenses ratio in 2002: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2002: 77.8%
Walker Senior Housing Corporation V: 

 77.8%
Other organizations performing similar types of work: 

 90.0%

Number of employees in 2002: 5
Walker Senior Housing Corporation V: 

 5
Other organizations performing similar types of work: 

 3

Grants share in income in 2002: 0.0%
Walker Senior Housing Corporation V: 

 0.0%
Other organizations performing similar types of work: 

 1.8%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$1,082,282$1,171,171$1,079,840
Contributions, gifts, grants, and similar amounts received$0$0$0
Contributions to donor advised funds
Direct public support$0$0$0
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$1,050,592$1,137,827$1,052,097
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$32,154$29,859$22,709
Dividends and interest from securities$0$0$0
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$-464$3,485$5,034
Gross amount from sales of assets other than inventory$67,333$3,485$5,034
Less: cost or other basis and sales expenses$67,797$0$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$1,110,152$1,135,053$1,173,414
Program services$893,786$927,659$912,651
Management and general$216,366$207,394$260,763
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$-845,647$-806,763$-1,279,300
Excess or (deficit) for the year$-27,870$36,118$-93,574
Net assets or fund balances at beginning of year$-836,956$-845,647$-806,763
Other changes in net assets or fund balances$19,179$2,766$-378,963
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,173,414$912,651$260,763$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$143,643$93,692$49,951$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$29,476$0$29,476$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$4,400$0$4,400$0
Legal fees$3,349$0$3,349$0
Supplies$11,062$9,675$1,387$0
Telephone$6,366$0$6,366$0
Postage and shipping$291$0$291$0
Occupancy$228,736$227,518$1,218$0
Equipment rental and maintenance$6,707$3,144$3,563$0
Printing and publications$5,530$0$5,530$0
Travel$380$155$225$0
Conferences, conventions, and meetings$1,252$0$1,252$0
Interest$296,799$296,443$356$0
Depreciation, depletion, etc.$234,124$233,843$281$0
Other expenses not covered above$201,299$48,181$153,118$0
Balance Sheets
200020012002
Total assets$4,617,966$4,553,922$4,076,755
Cash - non-interest-bearing$197,361$109,503$145,705
Savings and temporary cash investments$480,113$483,032$437,474
Accounts receivable less allowance for doubtful accounts$4,744$11,538$16,409
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$3,602$3,516$3,558
Investments - publicly-traded securities
Investments - other securities$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$3,669,569$3,475,100$3,323,532
Other assets, including program-related investments$262,577$471,233$150,077
Total liabilities$5,463,613$5,360,685$5,356,055
Accounts payable and accrued expenses$283,571$207,960$227,247
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$5,150,000$5,119,530$5,038,570
Mortgages and other notes payable$0$0$0
Other liabilities$30,042$33,195$90,238
Total liabilities and net assets/fund balances$4,617,966$4,553,922$4,076,755
Total net assets or fund balances$-845,647$-806,763$-1,279,300
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$1,082,282$1,171,171$1,079,840
Total revenue, gains, and other support per audited financial statements$1,082,282$1,171,171$1,079,840
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$1,110,152$1,135,053$1,173,414
Total expenses and losses per audited financial statements$1,110,152$1,135,053$1,173,414
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20065
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$27,743$1,052,097
Program service revenue
Program service revenue 1000000$000$0$1,052,097
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$22,709$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$5,034$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
199920002001
Total$827,421$1,087,959$1,160,892
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$790,000$1,055,805$1,131,033
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$37,421$32,154$29,859
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Eventide2405 8th St S Ste A, Moorhead, MN 56560-4200MN1952-03$43,363,268
2Crosby Senior Services2845 N Hamline Ave, Roseville, MN 55113-7127MN2007-01$4,061,859
3St Anns Home330 East 3rd Street, Duluth, MN 55805-1846MN2013-02$3,577,692
4Westridge Senior Housing Inc7645 Lyndale Ave S Ste 110, Richfield, MN 55423-6008MN1997-07$1,657,663
5Walker Senior Housing Corporation V3737 Bryant Ave S, Minneapolis, MN 55409-1019MN1988-03$1,492,275
6Presbyterian Homes Mill Pond Apartments Inc2845 N Hamline Ave, Roseville, MN 55113-7127MN1998-05$767,154
7Community For Affordable Senior Housing C A S H328 Kellogg Blvd W, Saint Paul, MN 55102-1900MN1988-04$258,425
8Lanesboro Housing Development Inc503 Parkway Ave S, Lanesboro, MN 55949-9728MN1978-06$179,566
9Brownton Housing CorporationPO BOX 623, Hutchinson, MN 55350-0623MN1975-03$152,180
10Tarrant County Senior Living Center Inc12720 Hillcrest Rd Ste 106, Dallas, TX 75230-7121TX2007-09$69,083,332
11Whitemarsh Continuing Care Retirement Community, The Hill At Whitemarsh4000 Foxhound Dr, Lafayette Hl, PA 19444-1014PA2004-11$50,951,514
12The Temple Foundation Inc9229 Arlington Blvd, Fairfax, VA 22031-2504VA1966-08$30,035,700
13Wesley Homes Inc1817 Clifton Rd Ne, Atlanta, GA 30329-4021GA1961-03$11,937,092
14899 Charleston899 East Charleston Road, Palo Alto, CA 94303-4644CA2008-06$8,682,853
15The Martin And Edith Stein Assisted Living Residence Inc350 Demott Lane, Somerset, NJ 08873-4976NJ2000-08$6,007,624
16Reedsburg Area Senior Life Center Inc2350 N Dewey Ave, Reedsburg, WI 53959-2316WI2006-05$5,864,996
17Sunnyside Properties Of Sarasota Inc5201 Bahia Vista St, Sarasota, FL 34232-2615FL1977-11$4,856,300
18Eventide Senior Living Communities Llc, Sheyenne Crossings2405 8th St S No A, Moorhead, MN 56560MN2006-12$4,594,192
19Sunshine Christian Homes Inc5250 Whippoorwill Dr, Holiday, FL 34690-2100FL1978-10$3,185,815
20Wyndham2400 Portage St, Kalamazoo, MI 49001-3728MI1989-07$2,520,636
Number of organizations performing similar types of work
Alabama2
Arkansas2
Arizona1
California30
Colorado3
Connecticut4
District of Columbia1
Delaware2
Florida10
Georgia6
Iowa17
Idaho1
Illinois14
Indiana6
Kansas2
Kentucky2
Louisiana3
Massachusetts7
Maryland9
Michigan15
Minnesota11
Missouri15
North Carolina8
North Dakota2
Nebraska7
New Hampshire3
New Jersey13
New York17
Ohio13
Oklahoma4
Oregon4
Pennsylvania15
South Dakota1
Tennessee7
Texas8
Virginia6
Vermont2
Washington3
Wisconsin15
West Virginia2
Wyoming1
International1
Total295

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