The 30th Annual Meeting of the Madrid Home for the Aging was held on Thursday, March 15, 2007. Over 100 delegates, Board Members and guests enjoyed a meal in the Home’s dining room prior to the meeting. Delegates in attendance were from the 27 churches who have membership in the Madrid Home.
Don Rimathe, Board Chairman, called the official meeting to order and thanked all that had worked on behalf of the Madrid Home this past year. He indicated that the Home was well known for its quality care and ability to meet residents’ needs in a variety of settings. He gave special recognition to the Home’s staff for all their efforts on behalf of residents.
Don Rimathe recognized Dr. Steven Kruse and Howard Schutt for each serving six years on the Board of Directors and Larry Nelson for one year of service. Keith Kudej, Board President, presented a plaque of appreciation to Don Rimathe for six years of service on the Board. Mr. Rimathe also presented Volunteer of the Year awards to Evelyn Helland for her volunteerism at the Madrid Home and Orville and Lois Bannister for their volunteerism at Ballard Creek in Huxley.
Carl Bergstrom reported on the Board’s activities for 2006. Roland McCubbin presented the Treasurer’s Report. He indicated that the Home experienced census challenges in 2006, but the organization remains healthy. The Home experienced a net gain in all funds of $43,859 for the year 2006. The 2007 budget projects revenues of $9,842,138 and expenses of $9,647,189 in the General Operating Fund.
Consolidated Balance Sheet
December 31, 2006
ASSETS: LIABILITIES:
Current Assets $4,278,073 Current Liabilities $ 1,033,328
Net Property & Equipment13,342,409 Long Term Debt 10,765,000
Investments / Other 2,253,142 Fund Balance (Net Worth) 8,075,296 _________________________________________________________________________________________
TOTAL ASSETS $19,873,624 - TOTAL LIABILITIES $19,873,624 AND NET WORTH
Reports were also presented on Ballard Creek and Cedars assisted living facilities, Friends of the Madrid Home, and marketing efforts for all campuses. Keith Kudej, President / CEO, reported on the Madrid Home’s continued commitment to quality and customer service.
The following were elected to the Madrid Home Board:
Three-year terms:
* Caroline Woollums, St. John’s Lutheran Church, Madrid (Incumbent)
* Thomas Colvin, Trinity United Methodist Church, Huxley
* Stephanie Potter, United Methodist Church, Woodward
* Larry Thompson, Fjeldberg Lutheran Church, Huxley
Two-year term to fill an un-expired three-year term:
* Larry Kallem, Bethany Lutheran Church, Kelley
The Madrid Home for the Aging Board officers for 2007-2008 are:
Carl Bergstrom, Chairman
Roland McCubbin, Vice Chairman
Willard Lehman, Treasurer
DeAnn Thompson, Secretary
Keith J. Kudej, President & CEO