Bay Village Endowment Fund

Nonprofit profile at a glance

EIN
591958932
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Sarasota, FL, USA
Phone
9419665611
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$723,341
Expenses
$256,940
Assets
$15,730,005
Liabilities
$23,811

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • ERIC NICHOLS (PRESIDENT & CEO)

Highest reported compensation

  • ERIC NICHOLS (PRESIDENT & CEO): $417,067 total reported compensation
  • CHRISTINA WIZBA (CFO): $330,415 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The endowment fund is a supporting organization to bay village of sarasota, inc. (bay village), a non-profit, lifecare community which currently exists as an independent living, assisted living, memory care, and nursing facility to provide all aging related services and senior services as may now exist or develop in the future. To accomplish this purpose, the endowment fund provides funds, when necessary: to assist financially needy bay village residents who have become unable to pay through no fault of their own; to assist in the operation, maintenance, growth and improvement of any and all of the operations of bay village now and in the future; and any additional purpose to help fulfill bay village's non-profit mission, meeting the requirements of sections 501(c)(3) and 509 (a)(2) of the internal revenue service code of 1986, as amended.this fund was started in 1980 to address bay village's commitment to the lifecare concept.

What it reported doing in 2025

The endowment fund is a supporting organization to bay village of sarasota, inc. (bay village), a non-profit, lifecare community which currently exists as an independent living, assisted living, memory care, and nursing facility to provide all aging related services and senior services as may now exist or develop in the future. To accomplish this purpose, the endowment fund provides funds, when necessary: to assist financially needy bay village residents who have become unable to pay through no fault of their own; to assist in the operation, maintenance, growth and improvement of any and all of the operations of bay village now and in the future; and any additional purpose to help fulfill bay village's non-profit mission.the endowment fund is comprised of contributions made from large and small donations, wills and estates, legacies, and proceeds from the "bay village market place and the "down under (resale) shop." the endowment fund's objective is to continue to build the fund to help provide long-term stability and financial support for bay village to fulfill its non-profit mission.

Operating model

Revenue model
Investment-supported. 67% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 71
  • Accountability: 81
  • Sustainability: 84
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.1%; rating input score 31
  • Program expense ratio: 59.1%; rating input score 59
  • Fundraising efficiency: $3.18 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

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: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 64.5%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 61.22; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 17.2%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 16% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: -3.9% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 31.1% of revenue deployed · 59.1% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $152K in reported program spending
  • Leadership: top reported pay $417K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 21/100.