2020-04-10T09:14:44-05:00 2019-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2018-07-01 621691489 Governmental and Educational Assistance Corporation GOVE 9528370545 7100 Northland Circle N No 200 Brooklyn Park MN 55428 Deb Steinke VP Finance/CFO 9528370545 2020-01-21 1 Deb Nelson CPA P01264758 6122536500 2020-01-21 216.147.181.49 2020-01-21 08:50:33 CS P D8A1E5117AA53286D53F57459EBB2DE5C7CA50FC F9BEE9501A3B4F00F190E63700B8BF2BC70C7B96 2018 2021-01-29 14:40:06Z Vista Prairie Communities James E Bettendorf 7100 Northland Circle N No 200 Brooklyn Park MN 55428 33969379 0 X www.vistaprairie.org X 1997 AR Independent and assisted living and memory care services to elderly at varying abilities to pay. X 7 7 758 130 0 0 0 0 28106448 28784481 17926 27255 6954823 5157643 35079197 33969379 0 0 0 0 14181693 14530403 0 0 0 13504594 12874438 27686287 27404841 7392910 6564538 59473905 57162100 68771662 60001744 -9297757 -2839644 X Vista Prairie Communities is a mission driven non-profit organization, called to serve older adults who entrust us with their lives, health, and well-being. We transform lives by providing compassionate care and joy-filled environments in the eight senior living communities we serve. We engage our employees to help people attain exceptional lifestyles, while practicing responsible stewardship of our resources. 0 1 22427213 28784481 Vista Prairie Communities (VPC) has established single asset, limited liability companies (LLC's) that currently own twelve facilities that accommodate low-income residents, senior assisted living, independent living and memory care housing facilities,. VPC's facilities are located in three states: Minnesota, Iowa, and Ohio.Blue Ridge Apartments-GEAC, LLC, operated a 37-unit apartment complex located in Blue Earth, Minnesota. Blue Ridge Apartments was sold March 2019. Parkview Terrace Apartments-GEAC, LLC, operated a 52-unit apartment complex located in St. Cloud, Minnesota. Parkview Terrace Apartments was sold March 2019. (Continue on Schedule O) Fieldcrest-GEAC, LLC, operates a 81-unit assisted living senior housing facility located in Sheldon, Iowa. Garnette Gardens-GEAC, LLC, operates an 86-unit senior living housing facility located in Redwood Falls, Minnesota. Goldfinch Estates-GEAC, LLC, operates a 134-unit senior housing facility that includes independent living and assisted living for the elderly and disabled persons and a memory care facility in Fairmont, Minnesota. Monarch Meadows-GEAC, LLC, operates a 100-unit senior housing facility providing independent living, assisted living and care suites located in North Mankato, Minnesota. Copperleaf-GEAC, LLC, operates an 82-unit senior living facility in Willmar, Minnesota. Windmill Ponds-GEAC, LLC, operates a 65-unit congregate care, senior independent living and assisted living facility located in Alexandria, Minnesota. River Heights Assisted Living, LLC, operates a 60-unit assisted living and memory care facility for the housing and care of elderly persons in South Saint Paul, Minnesota. Emerald Village-GEAC, LLC, operates a 100-unit independent senior living and 30-unit assisted living campus located in North Olmsted, Ohio. 22427213 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 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 1 1 0 0 0 0 1 130 0 1 758 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 MN X Deb Steinke 9528370540 7100 Northland Circle N Suite 200 Brooklyn Park MN 55428 Morris E Knopf Chair 3.00 X X 28500 0 0 Denice Jasper Vice Chair 3.00 X X 27500 0 0 Jim Ehrenberg Treasurer 3.00 X X 27500 0 0 Nancy Einan Secretary 3.00 X X 26500 0 0 Jean Bey Director 3.00 X 26500 0 0 Rose Agnew Director 3.00 X 25500 0 0 William Green Director 3.00 X 25500 0 0 James E Bettendorf Chief Executive Officer 40.00 X 237122 0 30497 Deb SteinkeVP Finance Chief Financial Officer 40.00 X 143331 0 26866 Kim Webster Chief Operating Officer 40.00 X 101851 0 7753 Scott Hamman VP Human Resources 40.00 X 125182 0 33129 Cal Diekmann Executive Director 40.00 X 100321 0 12165 895307 0 110410 5 0 1 0 SlashBlue 1200 Red Fox Road Arden Hills MN 55112 IT Service Provider 392666 Zellner 522 Hackmore Drive St Paul MN 55123 Temp Staffing 260429 New Horizon Foods PO Box 860246 Minneapolis MN 55486 Food Service Provider 215846 St Augustine Manor 7801 Detroit Ave Cleveland OH 44102 Property Management 209635 Eide Bailly LLP 800 Nicollet Mall Suite 1300 Minneapolis MN 55402 Accounting/Audit 139675 7 Resident Rent & Service Income 623000 28638059 28638059 146422 146422 28784481 27255 27255 Gain Discontinued Operations 900099 5157643 5157643 5157643 33969379 28784481 0 5184898 671661 671661 10852733 9216724 1636009 153670 126258 27412 1955609 1486995 468614 896730 669768 226962 209635 209635 27644 27644 156946 156946 2080410 1436227 644183 215508 215508 948455 866891 81564 2038632 1846283 192349 55797 55797 12195 12195 2404721 2366890 37831 2498828 2410920 87908 299432 266698 32734 Food expense 1075075 1075075 Bad debt expense 145449 145449 705711 442976 262735 27404841 22427213 4977628 0 5851532 7181683 1504958 903892 581594 534993 77161562 31526758 48299457 45634804 2892215 2585504 344149 321224 59473905 57162100 5243457 2315312 61808059 56166351 1332616 1040248 387530 479833 68771662 60001744 X -9297757 -2839644 -9297757 -2839644 59473905 57162100 X 6564538 -106425 X 0 1 X 1 0 X 28948854 30278693 32955423 28106448 28784481 149073899 28948854 30278693 32955423 28106448 28784481 149073899 0 0 0 149073899 49723 37496 19900 17926 27255 152300 49723 37496 19900 17926 27255 152300 28998577 30316189 32975323 28124374 28811736 149226199 0.99900 0.99880 0.00100 0.00120 X 1371107 1371107 68512731 25882076 42630655 6472124 5272503 1199621 805600 372179 433421 45634804 Security deposits 323400 Obligation under interest rate swap 156433 479833 X Part X, Line 2: Vista Prairie has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Internal Revenue Code Section 501(c)(3). Each of the controlled limited liability corporations maintains exempt status under Vista Prairies' exemption since Vista Prairie is the sole member of each entity. The Organization is required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS annually. In addition, the Organization is subject to income tax on any net income that is derived from business activities that are unrelated to their exempt purpose. The Organization believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Organization would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. X X 0 0 0 0 0 0 0 1 0 James E Bettendorf Chief Executive Officer 202122 0 35000 0 0 0 8485 0 22012 0 267619 0 0 0 Deb SteinkeVP Finance Chief Financial Officer 137331 0 6000 0 0 0 6051 0 20816 0 170198 0 0 0 Scott Hamman VP Human Resources 119182 0 6000 0 0 0 4300 0 28829 0 158311 0 0 0 Part I, Line 7 The bonuses for Jim Bettendorf, Deb Steinke, and Scott Hamman were discretionary based on their performance, issues faced and resolved during the prior year, and the financial situation of Vista Prairie Communities and its affiliates. In addition, an informal review was done with consultants regarding compensation issues for 501(c)(3) organizations and certain published surveys. A Dakota County Community Development Agency MN 411253302 2014-03-14 3370000 Refinance bonds issued 2/26/09 0 0 0 B City of Redwood Falls MN 416005484 2012-12-06 7805000 Refinance bonds issued 12/23/09 for senior housing project 0 0 0 C City of North Mankato MN 416005423 2014-11-12 7155000 Refinance debt issued 4/22/2005 0 0 0 D O'Brien County State of Iowa 426005134 2013-04-22 7700000 Refund bonds issued 12/22/04 & capital expenditures Fieldcrest facility 0 0 0 A 3370000 11673 3358327 2014 1 0 1 1 B 1134571 7805000 156100 7648900 2012 1 0 1 1 C 394689 7155000 143100 7011900 2014 1 0 1 1 D 1314835 7700000 32183 154000 3738253 3807747 2014 1 0 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 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 0 1 0 0 0 1 D 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 D 1 Date Rebate Computation Performed Issuer Name: Dakota County Community Development Agency, MN Date the Rebate Computation was Performed: 02/28/2019 Issuer Name: City of Redwood Falls, MN Date the Rebate Computation was Performed: 12/06/2017 Issuer Name: O'Brien County, State of Iowa Date the Rebate Computation was Performed: 04/01/2017 A Cleveland-Cuyahoga County Port Authority OH 341029691 186103HF7 2014-11-18 14975710 Refinance of senior housing, assisted living and memory care issued 6/8/2006 0 0 0 B Housing and Redevelopment Authority of Willmar MN 363617875 2015-10-28 8647000 Refinance bonds issued 9/23/08 for senior housing project 0 0 0 C City of Fairmont Minnesota 416005147 2015-05-21 5000000 Refinance bonds issued 5/1/2012 0 0 0 D City of Sherburn Minnesota 416005541 2015-05-21 5229000 Refinance bonds issued 5/1/2012 0 0 0 A 2306394 14975710 103175 299514 14573021 2014 1 0 1 1 B 692792 8646623 172940 8473683 2015 1 0 1 1 C 332765 5000000 100000 4900000 2015 1 0 1 1 D 348055 5229000 104580 114 5124306 2015 1 0 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 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 1 Huntington National Bank 0 0 0 0 1 B 0 0 0 0 1 0 0 0 1 C 0 0 0 0 1 0 0 0 1 D 0 0 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 A Lakes Area Economic Development Authority 200299143 2014-07-17 5280000 Refund bonds issued 7/20/05 with building remodel 0 0 0 A 727263 5280000 105600 652821 4521579 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 A 1 Parkview Terrace senior living facility 2019-03-22 3400000 sale price Parkview Acquisition LLC 1 Sunwood Drive St Cloud MN 56302 LLC Blue Ridge Apartments senior living facility 2019-03-22 1800000 sale price Blue Ridge Acquisition LLC 100 4th Avenue South St Cloud MN 56301 LLC 0 0 0 0 Form 990, Part III, line 3 Sale of Blue Ridge Apartments-GEAC, LLC in Blue Earth, MN effective 3/22/19 Sale of Parkview Terrace-GEAC, LLC in St Cloud, MN effective 3/22/19 Form 990, Part VI, Section A, line 3 Emerald Village-GEAC, LLC, entered into a management agreement with St. Augustine Manor, an Ohio nonprofit corporation, to provide management services. The amount paid during the year ended June 30, 2019 was $209,635. Form 990, Part VI, Section A, line 8b There are no committees with the authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The organization's CEO and CFO review the draft Form 990. In addition, a copy of the draft Form 990 is provided to the full board prior to filing. Form 990, Part VI, Section B, line 12c The conflict of interest policy covers the board members and officers of the organization. The President and Chair review potential conflicts. If an individual has a conflict they may participate in discussions, but must remove themselves during voting. Form 990, Part VI, Section B, line 15a Compensation for the Chief Executive Officer is determined by the Board of Directors. Compensation for the Chief Financial Officer is determined by the Chief Executive Officer. The compensation for meetings and special activities or services for the Board of Directors is determined by the Board of Directors. Comparability data, including an analysis and review of special services and activities performed by Directors and market rates for the performance of such services and activities, is used to determine board compensation as well as officer compensation and the process is documented. 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 fair value of interest rate swap -106,425. Blue Ridge Apartments-GEAC LLC 528 North Grant Street Blue Earth MN 56013 411922168 residence MN 0 0 Vista Prairie Communities Parkview Terrace-GEAC LLC 625 14th Street St Cloud MN 56301 411922183 residence MN 0 0 Vista Prairie Communities Monarch Meadows-GEAC LLC 2135 Lor Ray Drive North Mankato MN 56003 411970657 assisted living MN 3730669 5621296 Vista Prairie Communities Fieldcrest-GEAC LLC 2501 E 6th Street Sheldon IA 51201 421519910 assisted living MN 3442158 7147168 Vista Prairie Communities Garnett Gardens-GEAC LLC 511 South Dekald Street Redwood Falls MN 56283 411980868 assisted living MN 3546481 5553271 Vista Prairie Communities St Clarence-GEAC LLC 30344 Lorain Road North Olmsted OH 44070 202586088 assisted living OH 4213751 11439068 Vista Prairie Communities Windmill Ponds-GEAC LLC 715 Victor Street Alexandria MN 56308 411964961 assisted living MN 2184629 4209715 Vista Prairie Communities Goldfinch Estates-GEAC LLC 850 Goldfinch Street Fairmont MN 56031 412020934 assisted living MN 5530373 9987835 Vista Prairie Communities River Heights Assisted Living 744 19th Ave South St Paul MN 55075 411922184 assisted living MN 2236874 3228363 Vista Prairie Communities Copperleaf-GEAC LLC 1550 1st Street North Willmar MN 56201 412013671 assisted living MN 3899184 7322265 Vista Prairie Communities Vista Prairie Management LLC 7900 Excelsior Boulevard Suite 250 Hopkins MN 55343 451206462 Management Company MN 1597144 0 Vista Prairie Communities