2014 Annual Report - Milwaukee Catholic Home

Milwaukee Catholic Home Audited Financials
Audited Balance Sheet - December 31, 2014 and 2013
ASSETS
2014
2013
415,445
575,019
Current assets:
Cash and cash equivalents
Assets limited as to use
Residents accounts receivable - net
2014 BOARD OF DIRECTORS
President
Mr. Michael Peer
Vice President
Dr. Glenn Ragalie
Treasurer and Past President
Mr. Michael A. Faber
Secretary
Mr. William E. Hughes
Directors
Mr. Patrick Cannon
Mr. John M. Cary
Ms. Mary E. Darling
Mr. Michael P. Formella
Mr. William E. Hughes
Rev. Tim Kitzke, Emeritus
Ms. Pamela Knackert
Mr. David Laske
Mr. Gary D. Mahkorn
Ms. Romy McCarthy, Adjunct
Ms. Sarah Oberhofer, Adjunct
Mr. Jim Parks
Mr. Michael Sanderl
Sr. Debra Sciano
Mr. David Weiss
Chief Executive Officer
Mr. David Fulcher
Nursing Home Administrator
Mr. Patrick Shaughnessy
731,307
34,836
57,868
Inventories
69,355
63,843
Prepaid expenses and other
53,592
71,309
1,429,153
1,499,346
Assets limited as to use, less amount required for current liabilities
22,624,622
23,140,670
Property and equipment - net
22,705,820
21,751,649
Total current assets
Other assets:
Deferred financing fees - net & interest rate cap
TOTAL ASSETS
397,201
594,675
47,156,796
46,986,340
LIABILITIES AND NET ASSETS
Current liabilities:
Line of credit
-
-
773,991
747,080
1,500,000
1,500,000
Trade
458,356
351,759
Construction
119,239
299,111
Current maturity of long-term debt
Current portion of membership fees
ANNUAL REPORT
Year in Review 2014: A Letter from our Board Chair
2014 was a year of transition, as we shifted our focus
from celebrating the past to embracing the future.
Over the last several years, Milwaukee Catholic Home
has taken the time to reflect on our 100 years of
history and on the many individuals who have shaped
and guided us over the past century.
Accounts payable
Accrued interest payable
Accrued and other liabilities
Total current liabilities
-
26,848
832,543
823,777
3,684,129
3,748,575
Long-term debt less current maturities
15,076,929
15,171,456
Refundable membership fees
8,298,923
8,269,283
Deferred revenue
1,640,000
1,680,000
Total long-term liabilities
25,015,852
25,120,739
Total liabilities
28,699,981
28,869,314
17,367,968
16,837,555
Net assets:
Unrestricted
Temporarily restricted
634,438
877,062
Permanently restricted
454,409
402,409
Total net assets
18,456,815
18,117,026
TOTAL LIABILITIES AND NET ASSETS
47,156,796
46,986,340
AUDITED STATEMENT OF OPERATIONS
2014
2013
17,308,566
16,901,757
1,727,088
2,099,077
18,584,833
17,907,668
-
1,223,550
Excess (Deficit) of revenues over expenses
450,821
(130,384)
Change in unrealized gain of Investments
(180,927)
606,246
Change in the value of interest rate cap
(189,465)
146,278
Total operating revenues
Investment income, gains and other support
Total operating expenses
Loss on early redemption of bonds
449,984
530,413
622,140
Unrestricted net assets at beginning
16,837,555
16,215,415
Unrestricted net assets at end
17,367,968
16,837,555
2014
2013
Health & Rehab Center
63%
65%
Residence
26%
25%
Assisted Living & Generations Day Center
11%
10%
Salaries & Benefits
62%
63%
Depreciation
10%
9%
Supplies & Miscellaneous
17%
17%
Purchased Service
9%
8%
Interest
2%
3%
Revenue
Expenses
Throughout the entire realm of Catholic ministries,
people are waking up to this reality: partnership IS
the future. And MCH is leading the way. Our emerging
partnerships with the Franciscan Friars of the
Assumption Province, the East Side family of Catholic
parishes, the Riverwest Food Pantry, Messmer Catholic
Schools, and so many others, show our commitment
to walking with our neighbors and working together for
the common good.
If you’re reading this, you are also one of our partners,
and we can’t do the work we do without you. We invite
you to come to one of our famous Patio Pops outdoor
concerts, to join us for a meal, to gather with us for
Mass, or to offer a gift of your time as a volunteer.
Perhaps you would also consider lending your support
through a financial gift. Most importantly, we ask for
your continued prayers for the continued impact of our
shared mission.
Long-term liabilities:
Change in unrestricted net assets
Rooted in our Catholic tradition
and commitment to Christian
love and community, Milwaukee
Catholic Home provides continuing
care services for older adults.
-
855,925
Pledges receivable - net
Net assets released from restrictions - capital
Our Mission Statement
-
The renovation of our two chapels -- the centers of our
spiritual and community life -- was a fitting conclusion
to this time of reflection. The gathering of so many of
our Milwaukee Catholic Home family to dedicate these
renewed sacred spaces was a reminder of the strength
and spirit we bring to our future work.
The completion of our strategic plan, developed
throughout 2014 and rolled out in January of 2015, is
the beginning of our look towards this future work.
Throughout our extensive process of planning and
decision-making, one thing became abundantly
clear: Milwaukee Catholic Home can only continue
setting the standard for senior care by opening its
doors to collaboration and partnership. This common
thread runs through our entire strategic plan: the
significance of reaching out into the community to
find opportunities to work together and to share
mission in service to one another.
Gratefully,
Michael Peer
Milwaukee Catholic Home
Board of Directors Chair
Donor Circle
The Donor Circle honors those who make an annual gift of $100 or
more to enrich the lives of our residents. Members are recognized in our
annual report and are invited to special events. Gifts are tax deductible
to the full extent allowed by law. Gift club levels shown below are based
on gifts by the donor during 2014. If you are interested in making a gift,
please call our Fund Development Office at (414) 225-8246.
The following gifts were received between January 1, 2014 and December 31, 2014
FOUNDER ($25,000+)
• Miss Audrey J. Komarek
• Mr. and Mrs. Thomas
VanHimbergen
PHILANTHROPIST ($10,000$24,999)
•
•
•
•
•
•
•
Anonymous
Family of Jeanne Bartz
Mrs. Carolyn M. Jahn
Ms. Laurie Lucey
Mr. and Mrs. Paul Lucey
Mr. David M. Lucey
Mrs. Jane H. Williams
BENEFACTOR ($5,000$9,999)
•
•
•
•
•
Anonymous
Mrs. Ellen J. Benton
Mr. and Mrs. Peter W. Bruce
Miss Mary K. Hunt
Mr. and Mrs. William M. Jermain
HUMANITARIAN ($2,500$4,999)
• Mr. Bruce L. Best
• Mr. John P. Gargulak
• Greater Milwaukee
Foundation
• Mr. and Mrs. Stephen
Grummon
• Rose A. Monaghan Family Trust
• Mrs. Jeanne B. Normoyle
• Town Bank
• Judge and Mrs. V. Robert Payant
• Mrs. Marjorie Steinmetz
• Mr. and Mrs. Rollin D. Weary
• Mr. Jim Wudi
ALTRIUST ($1,000-$2,499)
•
•
•
•
•
•
•
Mr. Richard T. A’Hearn
Associated Bank
Dr. and Mrs. Daniel Collins
Rev. James E. Connell
Mrs. Rohini Desai
DeWan Dental Wellness
Mr. and Mrs. Robert DuPuy
• Dr. Sue Ewens
• Mr. Michael A. Faber and Mrs.
Chriss Laemmar-Faber
• Mr. Bernard A. Flatley
• Mr. Charles W. Foran
• Mr. and Mrs. David Fulcher
• Mr. and Mrs. Jack W. Fulcher
• Joseph and Patricia Frinzi Trust
• Mr. and Mrs. Daniel Fromm
• Mrs. Carol Greif-Schuele
• Miss Marie C. Hasenoehrl
• Mr. and Mrs. Robert Houlihan
• Mr. and Mrs. Kevin J. Howley
• Mr. and Mrs. William Hughes
• Mr. and Mrs. C. Morgan Jackson
• Mrs. Deloris M. Kloth
• Ms. Pamela Knackert
• Dr. and Mrs. Anthony Linn
• Camille A. Lonstorf Trust
• Mr. Donald Lynch, Jr.
• Mr. John M. McDonald
• Mrs. Julia A. McKale
• MJ Care
• Ms. Kathleen Mulaney
• Ms. Sarah Oberhofer
• Mrs. Shirley Osborn
• Mrs. Anne M. Panthofer
• Mr. and Mrs. Michael Peer
• Clare M. Peters Charitable Trust
• Mrs. Eleanor J. Quardokus
• Mrs. Rosemary Roessler
• Mrs. Mary Schwinn
• Security Insurance Services
• Mr. and Mrs. David Springob
• Mrs. Rosalie Steiner
• Stier Construction
• Vitas Innovative Hospice Care
PATRON ($500-$999)
•
•
•
•
•
•
•
•
Baird Foundation, Inc.
Mr. James T. Barry, Jr.
Mr. and Mrs. Ray L. Beauchamp
Mr. and Mrs. Martin J. Biller
Mr. and Mrs. Robert Bluhm
Mr. and Mrs. Michael Brauer
Mrs. Julita Bryce
Mrs. Mary C. Byrne
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Mr. Leo Crivello
Mr. and Mrs. Gerald E. Connolly
Mrs. Mary Dupuis
Feerick Funeral Home
Mr. James D. Ghiardi
Mrs. Ann F. Helfer
Miss Alice Hoffman
Mrs. Josephine Honzik
Mr. William M. Jermain III
Rev. Charles R. Keefe
Ms. Romy McCarthy
Mr. Albert R. Matzelle
Mr. and Mrs. Irwin S. Purtell
Mr. and Mrs. Robert A. Regner
Mrs. Susan Roemer
Mr. and Mrs. Miroslaw Rogalski
Mrs. Lorraine Salamun
Mrs. Margaret Schwoegler
Mr. and Mrs. Harry L. Shiparski
Mrs. Barbara Steinmetz
Mr. Tom Stepanek
Ms. Diane T. Wright
PARTNER ($250-$499)
• Mr. and Mrs. Richard A. Abdoo
• Mr. and Mrs. Thomas C.
Anderson
• Mrs. Mary Kay Bertha
• Mrs. Janet M. Carter
• Mrs. Mary Carter
• Ms. Anne Catalane
• Mrs. Christine Cone
• Mr. and Mrs. James E. Dziak
• Mrs. Margaret J. Fennig
• Mr. John T. Harrington
• Mr. and Mrs. Henrikus Goris
• Mr. and Mrs. Robert L. Hanley
• Mr. and Mrs. Steve Helfer
• Mr. and Mrs. Steven A.
Hoelter
• Mr. and Mrs. George H. Hoff
• Mr. William Holmes
• Mrs. Alice Goss
• Mrs. Jean D. Huyler
• Jelacic Funeral Home, Inc.
• Mrs. Rosemary Jensen
• Ms. Helene Joy
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Mrs. Gloria M. Killian
Mr. and Mrs. Robert B. Kliesmet
Mrs. Joan Larscheid
Mr. and Mrs. David Laske
LPL Financial Matching Gift
Program
Oivind and Angela Mathisen
Mr. and Mrs. Tom Mohr
Mrs. John Monroe
Mrs. William Moser
Mrs. Therese Ninneman
Mr. and Mrs. William O’Connor
Mr. and Mrs. James Parks
Mrs. Joan K. Pierce
Pilot Club of Milwaukee
Mr. and Mrs. Thomas R. Savage
Mr. Richard L. Schmitz
Ms. Margaret E. Sheehan
Stu’s Flooring
Miss Hilde Szarkowitz
Urban Foot Care Center PC
Mrs. Mary Whalen
FRIEND ($100-$249)
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
ABC Kortsch Moving & Storage
Angels and Saints Senior Group
Mr. and Mrs. Ralph Attonito
Mrs. Phyllis Babb
Mrs. Dolores Barber
Mrs. Barbara Barrow
Mrs. Doris Bautzmann
Mr. and Mrs. John L. Beck
Mrs. Katherine De Preter
Bedenko
Mr. and Mrs. Gordon Bell
Mr. Michael K. Benton
Mr. David T. Berendsen
The Bikesmiths
Mr. Martin Biller Jr.
Mr. and Mrs. Robert W. Brandt
Mrs. Joan K. Brenk
Mr. Darwin C. Broenen
Mr. and Mrs. John C. Brogan
Ms. Angela Caldevilla
Mr. and Mrs. Patrick M. Cannon
Mr. and Mrs. Joseph Cardinale
Mrs. Mary Cherniack
• Ms. Joan ChristophersonSchmidt
• Mrs. Mary Ciotti
• Mr. and Mrs. John Coffey
• Mr. and Mrs. Charles Colburn
• Mr. and Mrs. Dan Conley
• Mr. Robert L. Connors
• Mrs. Josephine Conole
• Mr. and Mrs. Robert Darling
• Mrs. Margadette Demet
• Miss Stephanie DeNatale
• Mr. and Mrs. W. C. Dentinger Jr.
• Ms. Susan Depp
• Mrs. Dorothy Dernehl
• Mr. Albert N. Docobo
• Mr. & Mrs. Andrew D. Dole
• Mr. and Mrs. Gregory Dufek
• Mr. Gordon Durenberger
• Mrs. Wladyslawa
Dziewanowska
• Eppstein Uhen Architects
• Ms. Ellen J. Fisher
• Mrs. Ruth G. Flaherty
• Foley & Lardner, LLP
• Mr. Michael P. Formella
• Mrs. Dorothy J. Gates
• Mrs. Rosemary R. Gernetzke
• Mr. and Mrs. Karl Goering
• Dr. Michael Goss
• Mr. and Mrs. Steven Grassl
• Ms. Barbara Gratton
• Mr. and Mrs. James Green
• Mr. and Mrs. Richard T. Hackl
• Mr. John Hayes
• Mr. and Mrs. David Healy
• Mr. and Mrs. Stephen Helfer
• Mrs. Elizabeth A. Helland
• Mr. Tom Hickey
• Mr. and Mrs. Donald J. Hoeller
• Mr. and Mrs. John Hoff
• Mrs. Laura Dupuy and Mr.
Tripp Hopkins
• Miss Elaine Houlihan
• Mr. William Hughes
• Mr. Dave Johnson
• Dr. and Mrs. Michael F.
Johnstone
• Ms. Millicent Kalil
• Mr. James Kallas
• Mrs. Jane L. Kaminsky
• Mr. Edward F. Kelly
• Ms. Mary T. Kenney-Curtis
• Mr. and Mrs. James J. King
• Rev. Timothy Kitzke
• Ms. Diane M. Knight
• Herbert H. Kohl Charities, Inc.
• Krause Funeral Home, Inc.
• Dr. and Mrs. Edmund M.
Krigbaum
• Mr. Roger Kumar, Ms. Lila
Kumar and Ms. Bina Kumar
• Ms. Gail F. Kursel
• Mrs. Mary Lacy
• Mr. and Mrs. James M. Laing
• Mr. and Mrs. Gary Langendorf
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Mr. and Mrs. Matthew J. Linn
Ms. Frances R. Lo
Mrs. Maria Luce
Dr. and Mrs. Robert F. Madden
Mrs. Barbara Mahoney
Ms. Lisa Marcheskie
Ms. Jill Matt
Ms. Sally A. McBride
Mr. James R. McCulloch
Mr. and Mrs. Thomas J. McGinn
Ms. Beatrice Melcher
Mrs. Grace Millen
Mr. and Mrs. Robert J. Misey
Mrs. Jacki Morgan
Mr. Patrick Murphy
Mr. and Mrs. Frederick A. Muth
R. A. Smith National
Mr. and Mrs. Paul W. Noelke
Mr. and Mrs. Patrick J. O’Grady
Mr. and Mrs. Glenn Paul
Ms. Phyllis M. Pease
Mr. Michael Peer
Mr. Geoff Penn
Mr. and Mrs. David M. Perkins
Dr. and Mrs. Brian Peters
Mr. Kenneth W. Pfeil
Pieper Electric, Inc.
Mrs. Mimi Piltz
Mr. and Mrs. Robert P. Probst
Mr. and Mrs. Paul Quick
Mrs. Jeanne Raynett
Mr. and Mrs. John S. Revitte
Mrs. Patricia Rice
Mrs. Mary Lou Riordan
Mr. and Mrs. Simon Robarts
& Family
Ms. Julie Rolfes
Mr. and Mrs. Paul Salsini
Dr. and Mrs. Michael E. Sanderl
Mrs. Catherine Sands
Mr. and Mrs. James Sankovitz
Ms. Karen M. Sautbine
Mr. and Mrs. Steven J. Schmitz
Mrs. Loretta Schomisch
Sr. Debra M. Sciano, SSND
Mr. and Mrs. Edward A.
Segebrecht
Mr. and Mrs. Larry Servin
Miss Mildred A. Setright
Mr. Patrick Shaughnessy
Ms. Vicky L. Shugart
Behavioral Solutions
Mr. David Springob
Mrs. Susan Stinson
Suminski Family Funeral
Homes, Inc.
Mr. Nicolo Storniolo
Mr. and Mrs. Jerome Styberg
Mrs. Jean Sullivan
Ms. Barbara Tabaska
Mrs. John R. Taylor
Mrs. Harriet Topping
Ms. Jennifer Trask
Mr. Gerald H. Tucker
Ms. Mary Ellen Vinz
•
•
•
•
•
•
•
Ms. Marie Visaya
Mrs. Marilyn N. Van Vleet
Dr. & Mrs. James Volberding
Mr. and Mrs. R. J. Weir
Mr. David Weiss
Mrs. Lillian R. White
Ms. Janet Lavine & Mr. Rick
Williams
• Mr. and Mrs. David Wilson
• Mr. and Mrs. Bruno B. Wolff, Jr.
• Mrs. Barbara Younglove
CORPORATE MEMBERS 2014
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Mr. Richard T. A’Hearn
Mr. and Mrs. Thomas C. Anderson
Mrs. Phyllis Babb
Mrs. Dolores Barber
Mr. John L. Beck
Mr. Michael K. Benton
Mrs. Mary Kay Bertha
Mr. Bruce L. Best
Mr. Martin Biller Jr.
Mr. and Mrs. Michael Bowen
Mrs. Joan K. Brenk
Mrs. Mary C. Byrne
Mr. and Mrs. Joseph Cardinale
Mrs. Janet M. Carter
Ms. Anne Catalane
Mrs. Mary Cherniack
Mr. and Mrs. John Coffey
Dr. and Mrs. Daniel Collins
Mrs. Christine Cone
Fr. James E. Connell
Mr. Robert L. Connors
Mrs. Josephine Conole
Mr. Leo Crivello
Mr. and Mrs. Robert Darling
Mrs. Margadette Demet
Mrs. Rohini Desai
Mrs. Mary Dupuis
Mr. Gordon Durenberger
Dr. Sue Ewens
Mr. Michael Faber
Mrs. Margaret J. Fennig
Mrs. Ruth G. Flaherty
Mr. Bernard A. Flatley
Mr. Charles W. Foran
Mr. Michael P. Formella
Mr. and Mrs. Daniel Fromm
Mr. and Mrs. David Fulcher
Mr. and Mrs. Steven Grassl
Miss Marie C. Hasenoehrl
Mrs. Ann F. Helfer
Mr. and Mrs. Stephen Helfer
Mr. and Mrs. Donald J. Hoeller
Mr. and Mrs. Steven A. Hoelter
Miss Bernadine Hoffman
Mr. William Holmes
Miss Elaine Houlihan
Ms. Helen Hruby
Mr. William Hughes
Mrs. Jean D. Huyler
Mrs. Carolyn M. Jahn
Mrs. Rosemary Jensen
Mr. Ralph Kaczmarek
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Mrs. Jane L. Kaminsky
Rev. Charles R. Keefe
Mr. Edward F. Kelly
Rev. Timothy Kitzke
Mrs. Mary Alice Klim
Mrs. Deloris M. Kloth
Ms. Pamela Knackert
Mrs. Joan Larscheid
Mr. and Mrs. David Laske
Dr. and Mrs. Anthony Linn
Mr. and Mrs. Matthew J. Linn
Governor Patrick J. Lucey
Dr. and Mrs. Robert F. Madden
Mr. Albert R. Matzelle
Mr. Albert A. Matzelle
Mr. James R. McCulloch
Mrs. Julia A. McKale
Mrs. Grace Millen
Mrs. Jacki Morgan
Mrs. William Moser
Mr. and Mrs. Frederick A. Muth
Mrs. Therese Ninneman
Mrs. Jeanne B. Normoyle
Ms. Sarah Oberhofer
Mr. and Mrs. William O’Connor
Mrs. Anne M. Panthofer
Mr. and Mrs. James Parks
Mr. and Mrs. Glenn Paul
Judge and Mrs. V. Robert Payant
Mr. Michael Peer
Mrs. Joan K. Pierce
Dr. Glenn Ragalie
Mrs. Jeanne Raynett
Miss Celia Reale
Mr. and Mrs. Robert A. Regner
Mr. and Mrs. John S. Revitte
Mrs. Patricia Rice
Mrs. Kathleen Rickert
Mrs. Lorraine Salamun
Mr. Timothy B. Sampers
Dr. and Mrs. Michael E. Sanderl
Mrs. Catherine Sands
Mr. and Mrs. James Sankovitz
Ms. Karen M. Sautbine
Mrs. Loretta Schomisch
Sr. Debra M. Sciano, SSND
Miss Mildred A. Setright
Mrs. Genevieve M. Shaughnessy
Mr. Patrick Shaughnessy
Mr. and Mrs. Harry L. Shiparski
Mr. David Springob
Mrs. Rosalie Steiner
Mrs.Barbara Steinmetz
Mrs. Marjorie Steinmetz
Mr. Anton G. Stepanek
Mr. Nicolo Storniolo
Miss Hilde Szarkowitz
Ms. Mary Van Lare
Dr. and Mrs. James Volberding
Mr. David Weiss
Mrs. Mary Whalen
Mrs. Sylvia E. Willetts
Mrs. Jane H. Williams
Mr. Bruno Wolff
Mr. Jim Wudi