Palisades General Care Inc

Overview

Mission

Palisades general care, inc. Is a not for-profit internal revenue code section 501(c)(3) tax-exempt organization which operates a 245 bed skilled nursing facility in north bergen, New Jersey and manages a building which contains certain facilities shared by the organization and palisades medical center; a related internal revenue code section 501(c)(3) tax-exempt organization.

What it reported doing in 2015

Expenses incurred in supporting the charitable purposes, programs and services of palisades medical center and its affiliates which provide medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay. Palisades general care, inc.; a recognized internal revenue code section 501(c)(3) tax-exempt organization; operates a 245-bed skilled nursing facility in north bergen, nj and manages a building which contains certain facilities shared by the organization and palisades medical center; a related internal revenue code section 501(c)(3) tax-exempt organization.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
222587492
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
North Bergen, NJ, USA
Phone
2018545226
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities

Official website

Reported finances

Revenue
$26,444,786
Expenses
$24,015,118
Assets
$43,274,782
Liabilities
$13,588,782

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 83
  • Accountability: 89
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.5%; rating input score 78
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 7th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 81.2%; rating input score 81; 17th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.2%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 1.8; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 77.5% of revenue deployed · 90% of spending went to programs
  • Governance: 13 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $21.6M in reported program spending
  • Leadership: top reported pay $1.5M · 23 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $2.5M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 6 annual filings from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.

Leadership & pay

23 people listed

Highest reported compensation

  • BRUCE J MARKOWITZ (TRUSTEE - PRESIDENT/CEO): $1,472,623 total reported compensation
  • GEORGE EDWARD DAVIS (ADMINISTRATOR): $695,741 total reported compensation
  • SHAWN RYAN (CHIEF FINANCIAL OFFICER): $201,642 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015.