2024-09-23T10:45:24-05:00 2024-02-29 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2023-03-01 391412339 CEDAR COURT APARTMENTS INC CEDA 7157488100 135 SOUTH GIBSON STREET MEDFORD WI 54451 GREG SHAW CFO 7157488100 2024-09-23 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2024-09-23 2023 2024-08-08 14:25:15Z JOHN LANGE 135 SOUTH GIBSON STREET MEDFORD WI 54451 238677 0 X N/A X 1982 WI THE MISSION OF CEDAR COURT APARTMENTS, INC. IS TO PROVIDE ELDERLY AND DISABLED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. 9 9 0 12 0 0 133915 123803 96160 105056 2255 9818 0 0 232330 238677 0 0 0 0 0 0 0 0 0 154836 157175 154836 157175 77494 81502 653862 713279 249367 227282 404495 485997 X THE MISSION OF CEDAR COURT APARTMENTS, INC. IS TO PROVIDE ELDERLY AND DISABLED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. 0 0 125023 0 102763 CEDAR COURT APARTMENTS IS A HOUSING FACILITY THAT IS GENERALLY FUNDED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PROGRAM (HUD). CEDAR COURT PROVIDES A HOUSING OPTION FOR A POPULATION THAT IS UNDER PRIVILEGED AND UNDER SERVED IN OUR COMMUNITY. THE FACILITY IS LOCATED IN MEDFORD, WI AND CONTAINS 23 INDIVIDUAL RENTAL UNITS, A COMMUNITY ROOM, AND LAUNDRY ROOM. THE DEMAND FOR THIS TYPE OF FACILITY IS REFLECTED IN OUR AVERAGE CENSUS OF 21. 125023 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 0 0 0 0 X GREG SHAW 7157488100 135 SOUTH GIBSON STREET MEDFORD WI 54451 X X JOHN LANGE CHAIRPERSON 1.00 1.00 X X 0 0 0 CANDICE GRUNSETH VICE CHAIRPERSON 1.00 1.00 X X 0 0 0 JASON STELIGA TREASURER 1.00 1.00 X X 0 0 0 RANDY JUEDES SECRETARY 1.00 1.00 X X 0 0 0 COLTON FREIBERG DIRECTOR 1.00 1.00 X 0 0 0 COURTNEY GRAFF DIRECTOR (THRU 04/2023) 1.00 1.00 X 0 0 0 LEN HAMMAN DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM KLINGBEIL DIRECTOR 1.00 1.00 X 0 0 0 BETH VAN DER BERG DIRECTOR 1.00 1.00 X 0 0 0 RANDI WERNER DIRECTOR 1.00 1.00 X 0 0 0 GREG SHAW CFO 1.00 2.00 X 0 0 0 DALE HUSTEDT PRESIDENT 1.00 2.00 X 0 0 0 0 0 0 0 0 0 0 0 123803 123803 RENTAL INCOME 623000 102763 102763 LAUNDRY INCOME 812300 2293 2293 105056 9818 9818 238677 102763 0 12111 13359 13359 8271 8271 622 622 9900 9900 60118 60118 20868 20868 3841 3841 LOSS DUE TO RECAPTURE 40196 40196 157175 125023 32152 0 32497 42689 0 809 1851 1572 1318118 1171484 167502 146634 452012 521575 653862 713279 14291 9735 10 0 7203 7841 94928 36577 132935 173129 249367 227282 X 404495 485997 404495 485997 653862 713279 81502 0 X 0 0 0 X 105839 127427 145632 133915 123803 636616 121069 104320 97115 93837 102763 519104 3566 2966 2615 2323 2293 13763 230474 234713 245362 230075 228859 1169483 0 5320 6374 7214 8022 13956 40886 5320 6374 7214 8022 13956 40886 1128597 1487 392 184 2255 9818 14136 1487 392 184 2255 9818 14136 231961 235105 245546 232330 238677 1183619 0.95350 0.96830 0.01190 0.00470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 33864 33864 1239239 1136808 102431 45015 34676 10339 146634 TENANT DEPOSITS HELD IN TRUST 7841 REPLACEMENT RESERVE 509970 ESCROW DEPOSITS 3764 521575 RESIDUAL RECEIPTS AVAILABLE FOR RECAPTURE 173129 173129 PART IV, LINE 2B: THE ORGANIZATION HOLDS TENANT SECURITY DEPOSITS AS A MATCHING ASSET AND LIABILITY. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERS ARE THE BOARD OF DIRECTORS OF FULCRUM FOUNDATION, INC. (FKA MEMORIAL MEMBER ASSOCIATION) FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERS OF FULCRUM FOUNDATION, INC. (FKA MEMORIAL MEMBER ASSOCIATION) FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE ORGANIZATION'S GOVERNING DOCUMENTS MUST BE APPROVED BY A MAJORITY OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING DEPARTMENT ACCUMULATES ALL FORM 990 INFORMATION. THESE DOCUMENTS ARE REVIEWED BY THE CFO PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE AND ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS THROUGH DIRECTOR'S DESK OR OTHER MEANS OF ELECTRONIC RETRIEVAL. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS MEMBERS OF THE BOARD OF DIRECTORS OR COMMITTEES THEREOF. THE BOARD OR COMMITTEE TO WHICH SUCH DISCLOSURE IS MADE SHALL THEREUPON DETERMINE, BY MAJORITY VOTE, WHETHER THE DISCLOSURE SHOWS THAT A CONFLICT OF INTEREST EXISTS OR CAN REASONABLY BE CONSTRUED TO EXIST. IF A CONFLICT IS DEEMED TO EXIST, SUCH PERSON SHALL NOT VOTE ON, NOR USE PERSONAL INFLUENCE ON, OR PARTICIPATE (OTHER THAN TO PRESENT FACTUAL INFORMATION TO OR RESPOND TO QUESTIONS) IN THE DISCUSSIONS AND DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR TRANSACTIONS. SUCH PERSON MAY BE COUNTED IN DETERMINING THE EXISTENCE OF A QUORUM AT ANY MEETING WHERE THE CONTRACT OR TRANSACTION IS UNDER DISCUSSIONS OR IS BEING VOTED UPON. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE MADE, THE VOTE THEREON AND, WHERE APPLICABLE, THE ABSTENTION FROM VOTING AND PARTICIPATION, AND WHETHER A QUORUM WAS PRESENT. FORM 990, PART VI, SECTION B, LINE 15 CEDAR COURT APARTMENTS, INC. DOES NOT HAVE ANY EMPLOYEES. AS NOTED IN THE EXPLANATION FOR FORM 990, PART VI, SECTION B, LINE 13 AND 14, CEDAR COURT APARTMENTS, INC. IS MANAGED AND OPERATED BY THE MANAGEMENT OF ASPIRUS MEDFORD HOSPITAL & CLINICS, INC. ASPIRUS MEDFORD HOSPITAL & CLINICS, INC. USED THE FOLLOWING PRACTICES FOR ESTABLISHING COMPENSATION FOR SUCH INDIVIDUALS: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, SECTION A ALL MEMBERS OF THE FULCRUM FOUNDATION, INC.'S BOARD OF DIRECTORS SERVE ON THE BOARD OF CEDAR COURT APARTMENTS, INC. MATTERS INVOLVING CEDAR COURT APARTMENTS, INC. ARE RESOLVED DURING REGULARLY SCHEDULED MEETINGS OF THE FULCRUM FOUNDATION, INC.'S BOARD; AS SUCH, NO ADDITIONAL TIME HAS BEEN ALLOCATED TO THE ADDITIONAL RELATED ORGANIZATION. IN ADDITION, SOME OFFICERS AND DIRECTORS ALSO PROVIDED SERVICE TO OTHER RELATED ORGANIZATIONS OTHER THAN CEDAR COURT APARTMENTS, INC. AND FULCRUM FOUNDATION, INC. THESE HOURS ARE REFLECTED IN LINE 2 OF COLUMN B. FULCRUM FOUNDATION INC 135 SOUTH GIBSON STREET MEDFORD WI 54451 392016506 MEMBER ASSOCIATION WI 501(C)(3) PF N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 THE TAXPAYER HAS ROUTINELY MET FILING REQUIREMENTS FOR FORM 990 AND INFORMATION REPORTING ON A TIMELY BASIS. THE LATE FILING OF FORM 990 FOR THE YEAR ENDED FEBRUARY 28, 2024 WAS AN IRREGULARITY. THE ORGANIZATION RELIED UPON THEIR PAID PREPARER TO FILE THE PROPER EXTENSIONS TO EXTEND THE ORIGINAL DUE DATE OF THE RETURN AND RELEASE THE RETURN UPON APPROVAL RECEIVED. THE PAID PREPARER USES A COMBINATION OF TAX SOFTWARE AND A FILE TRACKING SOFTWARE TO RECORD COMPLETION OF EXTENSIONS. THERE WAS AN INTERNAL ERROR AND THE PAID PREPARER MISTAKENLY RECORDED THE EXTENSION AS FILED; HOWEVER, IT WAS NOT AND THE RETURN AS A RESULT IS BEING FILED LATE BUT WITHIN THE TYPICAL EXTENDED DUE DATE TIME PERIOD. BASED ON THE HISTORY OF ROUTINE COMPLIANCE, WE RESPECTFULLY REQUEST THAT ANY PROPOSED INTEREST AND PENALTIES ABATED AND THE IRS RECOGNIZE REASONABLE CAUSE IN DOING SO.