Park Terrace Assisted Living Inc
Park Terrace Assisted Living Inc consistently operates with a surplus and reports no officer compensation.
EIN: 204063752 · Edina, MN · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.7M |
| Total Expenses | $2.8M |
| Program Spending | 90% |
| Net Assets | $2.2M |
| Transparency Score | 95/100 |
Is Park Terrace Assisted Living Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Park Terrace Assisted Living Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Park Terrace Assisted Living Inc
Park Terrace Assisted Living Inc (EIN: 204063752) is a nonprofit organization based in Edina, MN, classified under NTEE code L22. The organization reported total revenue of $3.7M and total assets of $5.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Park Terrace Assisted Living Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Park Terrace Assisted Living Inc is a mid-size nonprofit that has been operating for 20 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.1M |
| Total Expenses | $2.8M |
| Surplus / Deficit | +$262K |
| Total Assets | $5.8M |
| Total Liabilities | $3.5M |
| Net Assets | $2.2M |
| Operating Margin | 8.5% |
| Debt-to-Asset Ratio | 61.4% |
| Months of Reserves | 24.7 months |
Financial Health Grade: A
In 2023, Park Terrace Assisted Living Inc reported a surplus of $262K with revenue exceeding expenses, holds 24.7 months of operating reserves (strong position), has a debt-to-asset ratio of 61.4% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Park Terrace Assisted Living Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.2% | -1.8% | +3.0% |
| 2022 | +6.4% | +4.4% | -7.5% |
| 2021 | +3.1% | +4.6% | +1.7% |
| 2020 | +5.1% | +8.2% | +3.0% |
| 2019 | +8.6% | +4.3% | +3.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Park Terrace Assisted Living Inc with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Park Terrace Assisted Living Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $262K, with revenue exceeding expenses.
- Debt-to-asset ratio: 61.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers or key employees in a manner that would be reported in Part VII of Form 990, which is highly favorable for resource allocation to programs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Park Terrace Assisted Living Inc:
- Consistent financial surplus, with revenue exceeding expenses in all reported periods.
- Significant reduction in liabilities over the past decade, from $5.6M to $3.5M.
- No reported officer compensation, indicating high efficiency in directing funds to mission.
- Stable asset base, demonstrating long-term financial resilience.
- Strong program focus, implied by the lack of executive compensation and consistent surpluses.
Frequently Asked Questions about Park Terrace Assisted Living Inc
Is Park Terrace Assisted Living Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Park Terrace Assisted Living Inc (EIN: 204063752) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Park Terrace Assisted Living Inc spend its money?
Park Terrace Assisted Living Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Park Terrace Assisted Living Inc tax-deductible?
Park Terrace Assisted Living Inc is registered as a tax-exempt nonprofit (EIN: 204063752). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Park Terrace Assisted Living Inc's spending goes to programs?
Park Terrace Assisted Living Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Park Terrace Assisted Living Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Park Terrace Assisted Living Inc is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Park Terrace Assisted Living Inc located?
Park Terrace Assisted Living Inc is headquartered in Edina, Minnesota and files with the IRS under EIN 204063752. It is classified under NTEE code L22.
How many years of IRS 990 filings does Park Terrace Assisted Living Inc have?
Park Terrace Assisted Living Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.7M in total revenue.
Is Park Terrace Assisted Living Inc a good charity?
Based on its financial data, Park Terrace Assisted Living Inc appears to be a very good charity. It consistently operates with a surplus, maintains stable assets, and has significantly reduced its liabilities over the past decade. The absence of reported officer compensation is a strong indicator of efficient resource allocation towards its mission.
How has the organization's financial health changed over time?
The organization's financial health has improved over time. While revenue and expenses have steadily increased, the organization has consistently generated a surplus. Notably, liabilities have decreased from $5,638,607 in 2014 to $3,545,535 in 2023, strengthening its balance sheet.
What is the trend in revenue and expenses?
Both revenue and expenses have shown a consistent upward trend over the past decade. Revenue grew from $2,181,717 in 2014 to $3,071,077 in 2023, while expenses increased from $2,031,378 to $2,808,983 over the same period. The organization has consistently maintained a positive net income.
Filing History
IRS 990 filing history for Park Terrace Assisted Living Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Park Terrace Assisted Living Inc's revenue has grown by 54%, moving from $2.0M to $3.1M. Total assets decreased by 9.5% over the same period, from $6.4M to $5.8M. Total functional expenses rose by 44.1%, from $1.9M to $2.8M. In its most recent filing year (2023), Park Terrace Assisted Living Inc reported a surplus of $262K, with revenue exceeding expenses. The organization holds $3.5M in liabilities against $5.8M in assets (debt-to-asset ratio: 61.4%), resulting in net assets of $2.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.1M | $2.8M | $5.8M | $3.5M | — | — |
| 2022 | $3.0M | $2.9M | $5.6M | $3.8M | — | View 990 |
| 2021 | $2.9M | $2.7M | $6.1M | $4.1M | — | View 990 |
| 2020 | $2.8M | $2.6M | $6.0M | $4.2M | — | View 990 |
| 2019 | $2.6M | $2.4M | $5.8M | $4.4M | — | View 990 |
| 2018 | $2.4M | $2.3M | $5.6M | $4.6M | — | View 990 |
| 2017 | $2.3M | $2.2M | $5.7M | $4.8M | — | View 990 |
| 2016 | $2.4M | $2.1M | $5.8M | $5.0M | — | View 990 |
| 2015 | $2.2M | $2.1M | $5.9M | $5.4M | — | View 990 |
| 2014 | $2.2M | $2.0M | $6.0M | $5.6M | — | View 990 |
| 2013 | $2.2M | $2.2M | $6.0M | $5.8M | — | View 990 |
| 2012 | $2.1M | $2.0M | $6.3M | $6.1M | — | View 990 |
| 2011 | $2.1M | $2.1M | $6.3M | $6.2M | — | View 990 |
| 2010 | $2.0M | $1.9M | $6.4M | $6.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.1M, expenses of $2.8M, and assets of $5.8M (revenue +1.2% year-over-year).
- 2022: Revenue of $3.0M, expenses of $2.9M, and assets of $5.6M (revenue +6.4% year-over-year).
- 2021: Revenue of $2.9M, expenses of $2.7M, and assets of $6.1M (revenue +3.1% year-over-year).
- 2020: Revenue of $2.8M, expenses of $2.6M, and assets of $6.0M (revenue +5.1% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.4M, and assets of $5.8M (revenue +8.6% year-over-year).
- 2018: Revenue of $2.4M, expenses of $2.3M, and assets of $5.6M (revenue +4.2% year-over-year).
- 2017: Revenue of $2.3M, expenses of $2.2M, and assets of $5.7M (revenue -1.6% year-over-year).
- 2016: Revenue of $2.4M, expenses of $2.1M, and assets of $5.8M (revenue +8.9% year-over-year).
- 2015: Revenue of $2.2M, expenses of $2.1M, and assets of $5.9M (revenue -0.5% year-over-year).
- 2014: Revenue of $2.2M, expenses of $2.0M, and assets of $6.0M (revenue +1.4% year-over-year).
- 2013: Revenue of $2.2M, expenses of $2.2M, and assets of $6.0M (revenue +2.7% year-over-year).
- 2012: Revenue of $2.1M, expenses of $2.0M, and assets of $6.3M (revenue +1.2% year-over-year).
- 2011: Revenue of $2.1M, expenses of $2.1M, and assets of $6.3M (revenue +3.9% year-over-year).
- 2010: Revenue of $2.0M, expenses of $1.9M, and assets of $6.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Park Terrace Assisted Living Inc:
Data Sources and Methodology
This transparency report for Park Terrace Assisted Living Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.