Abiding Peace Senior Housing Corporation
Nonprofit profile at a glance
- EIN
- 222886002
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Burlington, NJ, USA
- Phone
- 6093867171
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Low-Income & Subsidized Rental Housing
Reported finances
- Revenue
- $1,496,953
- Expenses
- $1,444,619
- Assets
- $7,455,524
- Liabilities
- $723,602
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- COLLEEN P FRANKENFIELD (PRESIDENT & CEO)
- JEANNINE RICHMAN (SR. VICE PRESIDENT & CFO)
- SHERRY OUTTEN (SR. VICE PRESIDENT & COO)
Highest reported compensation
- COLLEEN P FRANKENFIELD (PRESIDENT & CEO): $891,855 total reported compensation
- SHERRY OUTTEN (SR. VICE PRESIDENT & COO): $434,776 total reported compensation
- JEANNINE RICHMAN (SR. VICE PRESIDENT & CFO): $370,833 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Through the power of the holy spirit and in response to god's love as revealed in the gospel, the mission of lutheran social ministries of nj is to serve those who hurt, who are in need, or who have limited choices through an array of health care and social services in nj.
What it reported doing in 2024
Abiding peace senior housing corporation, d/b/a mount olive manor and mount olive manor ii, is a non-profit corporation that operates a 111-unit residential facility located in mount olive, New Jersey. The organization operates under section 202 of the national housing act. Affordable housing is provided for qualified elderly persons who are at least 62 years of age. The project is regulated by the u.s. Department of housing and urban development with respect to rental charges, operating expenses and operating methods.
Operating model
- Revenue model
- Earned-program. 96% 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.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 60
- Accountability: 90
- Sustainability: 56
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89.3%; rating input score 89
- Program expense ratio: 92.5%; rating input score 93
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3.5%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 5.16; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 43; 43rd percentile among comparable filings
- Officer compensation ratio: 10.4%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: 3.7% per year; rating input score 100; 35th percentile among comparable filings
- Revenue growth: 2.9% per year; rating input score 100; 30th percentile among comparable filings
- Asset growth: -3.3% per year; rating input score 0; 9th percentile among comparable filings
Details
- Where the money goes: 89.3% of revenue deployed · 92.5% of spending went to programs
- Governance: 11 of 12 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1.3M in reported program spending
- Leadership: top reported pay $892K · 14 people listed · 0 of 6 pay-setting controls reported
- Consistency: 32 of 32 current checks pass
- Schedules: 6 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 27 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- Moderate — Sustainability: Operating margin scored 46/100.
- Review — Accountability: Governance controls: CEO compensation review process not reported.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 43/100.