2024-11-14T13:37:08-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 5550 WILD ROSE LANE SUITE 300 WEST DES MOINES IA 50266 990 2023-01-01 421412375 COTTAGE GROVE PLACE COTT 3193632420 2115 FIRST AVENUE SE CEDAR RAPIDS IA 52402 DAVID SNYDER EXECUTIVE DIRECTOR 3193632420 2024-11-12 1 0 ASHLEY R MAHONEY P01603680 5152224400 2024-11-06 2023 2024-10-15 13:58:12Z DAVID SNYDER 2115 FIRST AVENUE SE CEDAR RAPIDS IA 52402 18892702 0 X WWW.COTTAGEGROVEPLACE.COM X 1992 IA TO PROVIDE HOUSING, HEALTH CARE & RELATED SERVICES THROUGH OPERATIONS OF A CCRC RETIREMENT FACILITY 11 11 319 11 0 0 1255452 1948428 15411197 16879053 -7757 48809 6913 4130 16665805 18880420 0 0 0 0 6427296 8197538 0 0 0 10669589 10765805 17096885 18963343 -431080 -82923 57553702 56635333 61934201 61071485 -4380499 -4436152 TO PROVIDE HOUSING, HEALTH CARE, AND OTHER RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RETIREMENT FACILITY. 0 0 15824089 0 16879053 THE RETIREMENT FACILITY CONTAINS 182 INDEPENDENT LIVING UNITS, 41 ASSISTED LIVING UNITS, 18 ASSISTED LIVING MEMORY CARE UNITS, 51 NURSING CARE BEDS AND 12 SPECIAL CARE UNITS FOR ITS RESIDENTS. ABOUT 68% OF THESE UNITS WERE OCCUPIED AT YEAR END. 15824089 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 57 0 1 319 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X GREG OLBEKSON 3192975754 2115 FIRST AVENUE SE CEDAR RAPIDS IA 52402 TAD COOPER CHAIRMAN 1.00 X X 0 0 0 RICHARD LANDIS SECRETARY 1.00 X 0 0 0 PHIL LENZEN TRUSTEE 1.00 X 0 0 0 TORY MEIBERG TRUSTEE 1.00 X 0 0 0 LELAND SMITHSON TRUSTEE 1.00 X 0 0 0 CRAIG DAVIS TRUSTEE 1.00 X 0 0 0 ED SHERMAN TRUSTEE 1.00 X 0 0 0 JANA NASSIF TRUSTEE 1.00 X 0 0 0 MIKE HATTERY TRUSTEE 1.00 X 0 0 0 WILLIAM MCCARTAN TRUSTEE 1.00 X 0 0 0 CLINT LANDIS TRUSTEE 1.00 0.00 X 0 0 0 DAVID SNYDER EXECUTIVE DIRECTOR 55.00 1.00 X 160163 0 33077 GREG OLBEKSON FINANCE DIRECTOR 45.00 1.00 X 88056 0 7380 248219 0 40457 1 0 1 0 ENCORE REHABILITATION SERVICES 33533 W 12 MILE RD STE 290 FARMINGTON HILLS MI 48331 ON-SITE THERAPY 465894 MOOSE MECHANICAL 2125 WILSON AVE SW CEDAR RAPIDS IA 52404 HVAC 186522 LCS HOLDING COMPANY LLC 400 LOCUST ST STE 820 DES MOINES IA 50309 MANAGEMENT OVERSIGHT 110308 3 1948428 1948428 RESIDENT SERVICES 623000 14683364 14683364 ENTRANCE FEES & AMORTIZATION 623000 2195689 2195689 16879053 61091 61091 10780 1502 -10780 -1502 -12282 -12282 DEPOSIT INCOME 900099 4130 4130 4130 18880420 16879053 0 52939 288676 62625 226051 6755636 6335184 420452 39010 33546 5464 569241 533748 35493 544975 494619 50356 887508 887508 3555 3555 37080 37080 455699 363323 92376 303810 303810 150757 101256 49501 176216 131 176085 1382176 818729 563447 51947 5387 46560 1851633 1796084 55549 2331299 2261360 69939 301308 301308 FOOD 1017127 1015533 1594 MEDICAL EXPENSE 647190 647190 REPAIRS & MAINTENANCE 430096 430069 27 DEPARTMENT SUPPLIES 386612 386612 351792 234883 116909 18963343 15824089 3139254 0 1000 750 383488 223448 1657495 2384598 57187 48076 189199 230836 80399973 29569009 52341777 50830964 2923556 2916661 57553702 56635333 1548624 1613640 12609158 12933692 37322893 36218350 180635 111418 2031618 1941824 568486 0 7672787 8252561 61934201 61071485 X -4380499 -4436152 -4380499 -4436152 57553702 56635333 X -82923 27270 X 0 1 X 0 0 X 52000 1814133 223618 1255452 1948428 5293631 14641895 14293109 13301590 15411197 16879053 74526844 14693895 16107242 13525208 16666649 18827481 79820475 0 0 0 79820475 18649 968 299 1538 61091 82545 18649 968 299 1538 61091 82545 36615 6913 4130 47658 14712544 16144825 13525507 16675100 18892702 79950678 0.99840 0.99880 0.00100 0.00060 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 36,615. 2022 AMOUNT: $ 6,913. 2023 AMOUNT: $ 4,130. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 180635 310819 380036 111418 1 X 4601428 4601428 63467769 22022928 41444841 6735309 3658169 3077140 4935936 3512446 1423490 659531 375466 284065 50830964 ASSETS LIMITED AS TO USE 1871851 CASH VALUE OF LIFE INSURANCE 759989 COST OF ACQUIRING CONTRACTS 284821 2916661 REFUNDABLE ENTRANCE FEES 8252561 8252561 PART IV, LINE 2B: THE ORGANIZATION IS THE TRUSTEE OF VARIOUS RESIDENT AND SECURITY DEPOSITS AND HAS A FIDUCIARY RESPONSIBILITY FOR THE ADMINISTRATION AND DISTRIBUTION OF THESE FUNDS FOR THE RESIDENTS. X X 0 0 0 0 0 0 0 0 0 DAVID SNYDER EXECUTIVE DIRECTOR 140601 0 18592 0 970 0 22500 0 10577 0 193240 0 0 0 A IOWA FINANCE AUTHORITY 521699886 2012-08-24 19300000 BOND REFINANCING; CAPITAL PROJECT 0 0 0 B IOWA FINANCE AUTHORITY 521699886 2017-08-15 25880000 CAPITAL PROJECT 0 0 0 A 6346161 19300000 361822 500000 18438178 2014 1 1 1 1 B 2351719 25880000 1918 50001 1746203 24083796 2019 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 NA 0 0 0 0 1 B 0 0 0 1 0 0 NA 0 0 0 0 1 A 1 B 1 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF TRUSTEES, BY RESOLUTION ADOPTED BY THE MAJORITY OF TRUSTEES IN OFFICE, MAY DESIGNATE ONE OR MORE COMMITTEES, EACH OF WHICH WILL CONSIST OF TWO OR MORE TRUSTEES, WHICH COMMITTEES, TO THE EXTENT PROVIDED IN SUCH RESOLUTION, SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE CORPORATION, BUT THE DESIGNATION OF SUCH COMMITTEES AND THE DELEGATION THERETO OF AUTHORITY SHALL NOT OPERATE TO RELIEVE THE BOARD OF TRUSTEES, OR ANY INDIVIDUAL TRUSTEES OF ANY RESPONSIBILITY IMPOSED ON IT OR HIM BY LAW. FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT DUTIES FOR THE ORGANIZATION ARE HANDLED BY THE MANAGEMENT COMPANY - LIFE CARE SERVICES LLC. THE INDIVIDUAL THAT WAS COMPENSATED BY THE MANAGEMENT COMPANY IS DAVID SNYDER ($160,163). FORM 990, PART VI, SECTION A, LINE 3 LIFE CARE SERVICES HANDLES THE OVERALL MANAGEMENT OF DAY TO DAY OPERATIONS. LIFE CARE SERVICES IS AN UNRELATED THIRD PARTY ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE EXECUTIVE DIRECTOR AND ACCOUNTING DIRECTOR REVIEW THE RETURN AND ADDRESS ANY QUESTIONS OR COMMENTS. A COMPLETE COPY OF THE RETURN IS SENT TO SELECT TRUSTEES FOR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS ONGOING TRAINING AND REINFORCEMENT TO ENSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED AND APPROVED ANNUALLY BY MANAGEMENT COMPANY LIFECARE SERVICES AND THE COTTAGE GROVE PLACE BOARD OF TRUSTEES USING REPORTS BY STATE AND REGION. LIFECARE SERVICES PROVIDES SALARY RANGES FOR DEPARTMENT HEADS USING THE SAME CRITERIA MATRICES. THE BOARD OF TRUSTEES APPROVES EXECUTIVE DIRECTORS AND DEPARTMENT HEADS' SALARIES DURING THE ANNUAL BUDGET APPROVAL, MOST RECENTLY IN 2023, AS DOCUMENTED IN BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF LIFE INSURANCE 27,270. COTTAGE GROVE PLACE FOUNDATION 2115 FIRST AVENUE SE CEDAR RAPIDS IA 52402 391895425 TO SUPPORT AND PROVIDE FUNDS TO COTTAGE GROVE PLACE IA 501(C)(3) LINE 12A, I COTTAGE GROVE PLACE 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 1 0 0