2024-11-15T16:04:55-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-01-01 411773664 SHEPHERD OAK APARTMENTS INC SHEP 3202526525 1115 4TH AVENUE NORTH SAUK RAPIDS MN 56379 MICHAEL STORDAHL CEO & PRESIDENT 3202526525 2024-11-14 1 1 CHRISTOPHER STEINHOFF P01587351 6123764500 2024-11-14 2023 2024-10-15 13:58:12Z MICHAEL STORDAHL 1115 4TH AVENUE NORTH SAUK RAPIDS MN 56379 384155 0 X WWW.GOODSHEPHERDCAMPUS.ORG X 1993 MN OWN AND OPERATE LOW INCOME APARTMENT BUILDING TO PROVIDE A HOME TO THE ELDERLY AND HANDICAPPED. 6 6 0 10 0 0 0 0 334094 349672 471 4644 11862 29839 346427 384155 0 0 0 0 99199 121824 0 0 0 323626 316516 422825 438340 -76398 -54185 1475484 1399619 2650122 2628442 -1174638 -1228823 X OWN AND OPERATE AN APARTMENT FOR OLDER ADULTS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SECURITY, AND HAPPINESS IN LONGER LIVING. 0 0 292188 0 349672 SHEPHERD OAK APARTMENTS, INC. OWNS AND OPERATES A 42 UNIT APARTMENT COMPLEX FOR THE PURPOSE OF PROVIDING OLDER AND HANDICAPPED ADULTS WITH HOUSING FACILITIES. THE PROJECT IS OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT ALSO HAS A SECTION 8 PROJECT RENTAL ASSISTANCE CONTRACT AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, PROVIDING PAYMENTS FOR THE APARTMENTS UNITS LEASED TO ELIGIBLE LOW-INCOME, ELDERLY TENANTS PURSUANT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937. SERVICES ARE DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SECURITY, AND HAPPINESS IN LONGER LIVING THROUGH A CHRISTIAN PERSPECTIVE. SHEPHERD OAK APARTMENTS, INC. IS A PART OF A 30 ACRE SENIOR LIVING CAMPUS IN SAUK RAPIDS, MINNESOTA WHICH INCLUDES SKILLED NURSING FACILITY CARE, SUB-ACUTE/SHORT TERM REHABILITATION SERVICES, CONGREGATE DINING, SKILLED HOME CARE SERVICES, ASSISTED LIVING SERVICES, MEMORY CARE SERVICES, AND INDEPENDENT LIVING APARTMENTS. MOST OF THE BUILDINGS ARE CONNECTED THROUGH ENCLOSED LINKS ALLOWING TENANTS TO FREELY MOVE BETWEEN BUILDINGS TO MEET FRIENDS OR ENJOY A WALK INSIDE AVOIDING HARSH MINNESOTA WINTER CONDITIONS. 292188 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 MN X X KRISTINA MARTINI 3202593490 1115 4TH AVENUE NORTH SAUK RAPIDS MN 56379 BARBARA MAHNKE BOARD CHAIR 0.50 3.00 X X 0 0 0 LOIS PERLEBERG VICE CHAIR 0.50 3.00 X X 0 0 0 JOYCE HAWKINSON SECRETARY/TREASURER 0.50 1.50 X X 0 0 0 TERRY KURASH BOARD MEMBER 0.50 1.00 X 0 0 0 CHERYL SCAPANSKI BOARD MEMBER 0.50 3.00 X 0 0 0 DENNIS BACON BOARD MEMBER 0.50 3.00 X 0 0 0 MICHAEL STORDAHL PRESIDENT/CEO/ADMINISTRATOR 1.00 39.00 X 0 170840 24601 MORGAN KERN DEC 2023 VP OF FINANCE/CFO 3.00 37.00 X 0 98730 0 KRISTA MARTINI FINANCIAL MANAGER 0.50 37.00 X 0 126051 20558 RHONDA POHL VP OF HUMAN RESOURCES 1.00 39.00 X 0 107932 14724 0 503553 59883 0 0 1 0 0 RENTAL INCOME 533110 349672 349672 349672 4644 4644 22605 0 22605 22605 22605 LAUNDRY AND VENDING 812300 4956 4956 UTILITY REVENUE 221000 1877 1877 DAMAGE/CLEANING FEES 900099 260 260 141 141 7234 384155 349672 0 34483 101917 31767 70150 784 83 701 11825 4813 7012 7298 2275 5023 36601 36601 12513 12513 22431 18352 4079 936 936 10269 8580 1689 2180 2180 122644 122176 468 464 76 388 157 157 104066 104066 TELEPHONE 2087 2087 LICENSES/PERMITS 1261 1261 MISCELLANEOUS 907 907 438340 292188 146152 0 33469 19539 2372 370 3288 4900 3409176 2311109 1189716 1098067 246639 276743 1475484 1399619 49173 41075 403 202 17359 18272 2583187 2568893 2650122 2628442 X -1174638 -1228823 -1174638 -1228823 1475484 1399619 -54185 0 X X 0 1 X 1 1 1 X 2878 2878 327573 324232 329948 334094 349672 1665519 330451 324232 329948 334094 349672 1668397 0 118644 111626 122279 126425 142255 621229 118644 111626 122279 126425 142255 621229 1047168 16486 16045 11855 14315 27249 85950 16486 16045 11855 14315 27249 85950 7424 7711 9427 8047 7234 39843 354361 347988 351230 356456 384155 1794190 0.58360 0.61220 0.04790 0.04150 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DAMAGE/CLEANING FEES LAUNDRY AND VENDING UTILITY REVENUE MAINTENANCE REVENUE MISCELLANEOUS REVENUE 0 1 X 165700 165700 2650534 1906579 743955 106636 46589 60047 486306 357941 128365 1098067 RESERVE FOR REPLACEMENTS 215598 RESIDUAL RECEIPTS RESERVE 10543 TENANT SECURITY DEPOSITS 18614 TAX AND INSURANCE ESCROW 31988 276743 HUD CAPITAL ADVANCE 2556400 DUE TO RELATED PARTY 12493 2568893 X 384155 0 384155 0 384155 438340 0 438340 0 438340 PART IV, LINE 2B: THE PROJECT HOLDS IN TRUST, SECURITY DEPOSITS ADVANCED BY THE TENANTS OF THE PROJECT. THE PROJECT RECORDS THESE DEPOSITS PLUS INTEREST AS A LIABILITY. PART X, LINE 2: NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. THE PROJECT IS A NON-PROFIT CORPORATION AND, THEREFORE, IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE PROJECT IS NOT A PRIVATE FOUNDATION, AND CONTRIBUTIONS TO THE PROJECT QUALIFY AS A CHARITABLE TAX DEDUCTION BY THE CONTRIBUTOR. THE PROJECT FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE APPLICATION OF THIS STANDARD HAS NOT IMPACT ON THE PROJECT'S FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 MICHAEL STORDAHL PRESIDENT/CEO/ADMINISTRATOR 0 169617 0 1223 0 0 0 4655 0 19946 0 195441 0 0 PART I, LINE 3 GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS, MINNESOTA PAYS THE COMPENSATION FOR THE OFFICERS AND EMPLOYEES OF THE ORGANIZATION. SHEPHERD OAK APARTMENTS THEN REIMBURSES GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS, MINNESOTA FOR ALL SALARIES AND BENEFIT EXPENSES. GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS, MINNESOTA USES THE FOLLOWING WHEN DETERMINING COMPENSATION FOR OFFICERS AND EMPLOYEES: (1) COMPENSATION SURVEY OR STUDY, AND (2) APPROVAL BY BOARD OF DIRECTORS OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION A, LINE 3 SHEPHERD OAK APARTMENTS, INC. PAYS GOOD SHEPHERD LUTHERAN HOME TO MANAGE ITS AFFAIRS. THE MANAGEMENT FEE PAID DURING THE YEAR WAS $36,601. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CORPORATION INCLUDE ONE PASTOR AND TWO DELEGATES DESIGNATED OR ELECTED BY EACH OF THE AFFILIATED CONGREGATIONS OF THE MISSOURI SYNOD LUTHERAN CHURCH. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS, CONSISTING OF TWO DELEGATES AND A PASTOR FROM EACH OF THE SPONSORING CONGREGATIONS, ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE CORPORATION MAY, BY A MAJORITY VOTE, AUTHORIZE THE BOARD OF DIRECTORS TO EXERCISE THE POWER OF AMENDMENT OF THE BY-LAWS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DID NOT DELEGATE BROAD AUTHORITY TO A COMMITTEE TO ACT ON BEHALF OF THE GOVERNING BODY DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE DRAFT FORM 990 IS REVIEWED BY THE CEO, FINANCIAL MANAGER, AND BOARD MEMBERS. A COPY OF THE FORM IS PROVIDED TO THE BOARD MEMBERS PRIOR TO THE BOARD MEETING REVIEW. THIS REVIEW AND APPROVAL PROCESS OCCURS BEFORE THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, THE VICE PRESIDENT(S), CEO AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT DISCLOSURE, WHICH ARE REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. THE CEO MONITORS FOR CONFLICTS AND DECIDES WHETHER A CONFLICT EXISTS. WHEN A CONFLICT EXISTS, IT IS ACKNOWLEDGED AND THE BOARD IS NOTIFIED. THE INDIVIDUAL WITH THE CONFLICT IS UNABLE TO VOTE ON DECISIONS RELATED TO THAT CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT AND CEO OF SHEPHERD OAK APARTMENTS, INC. IS COMPENSATED BY GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS, MINNESOTA, A RELATED PARTY. WHEN DETERMINING THE PRESIDENT AND CEO'S COMPENSATION, GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS, MINNESOTA USES THE FOLLOWING METHODS: -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS, MINNESOTA'S BOARD OR COMPENSATION COMMITTEE 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 XII, LINE 2C THE PROCESS FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS MN 1115 FOURTH AVE N SAUK RAPIDS MN 56379 410851905 SERVICES TO SENIORS MN 501(C)(3) LINE 10 N/A 0 THE GOOD SHEPHERD FOUNDATION INC 1115 FOURTH AVE N SAUK RAPIDS MN 56379 411302004 SUPPORTING GOOD SHEPHERD LUTHERAN HOME MN 501(C)(3) LINE 12A, I GSLH 0 GOOD SHEPHERD HOMES INC 1115 FOURTH AVE N SAUK RAPIDS MN 56379 411773664 HOUSING FOR LOW INCOME SENIORS MN 501(C)(3) LINE 10 SEE SCHEDULE R - PART VII 1 SHEPHERD OAK WEST APARTMENTS INC 1115 FOURTH AVE N SAUK RAPIDS MN 56379 411870826 HOUSING FOR LOW INCOME SENIORS MN 501(C)(3) LINE 10 SEE SCHEDULE R - PART VII 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 SCHEDULE R, PART II, COLUMN F: FOR ENTITIES IN PART II, WITH THE EXCEPTION OF THE GOOD SHEPHERD LUTHERAN FOUNDATION AND GOOD SHEPHERD LUTHERAN HOME OF SAUK RAPIDS, MINNESOTA, ALL ARE DEEMED TO BE THE DIRECT CONTROLLING ENTITIES OF EACH OTHER FOR THE PURPOSES FOR COLUMN (F) BECAUSE THERE IS OVERLAP IN THE BOARD MEMBERS OF EACH OF THESE FACILITIES.