Benet Place
Nonprofit profile at a glance
- EIN
- 411765356
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Shoreview, MN, USA
- Phone
- 6517664300
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing, Shelter N.E.C.
Reported finances
- Revenue
- $509,435
- Expenses
- $707,490
- Assets
- $1,035,238
- Liabilities
- $2,691,649
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- SHELLEY KENDRICK (PRESIDENT AND CEO)
- JOHN PETRBORG (PRESIDENT)
Highest reported compensation
- SHELLEY KENDRICK (PRESIDENT AND CEO): $546,642 total reported compensation
- MELANIE SULLIVAN (BOARD OF TRUSTEE): $334,854 total reported compensation
- SCOTT BJERKETVEDT THRU 92024 (SECRETARY AND TREASURER): $271,265 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Benet place provides affordable housing to low-income qualified senior citizens, ages 62 and older, through the hud-sponsored program.
What it reported doing in 2024
Benet place operates a 40 unit housing complex in st cloud, mn, to provide affordable housing to low-income qualified senior citizens, ages 62 and older, through the hud-sponsored program.
Operating model
- Revenue model
- Earned-program. 99% 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: 91
- Sustainability: 19
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 72.1%; rating input score 72
- 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: 100%; rating input score 100; 63rd 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: -38.9%; rating input score 4; 4th percentile among comparable filings
- Total-asset coverage ratio: 1.46; rating input score 55; 55th percentile among comparable filings
- Liabilities to assets ratio: 2.6; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 30.9%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: 2.7% per year; rating input score 100; 30th percentile among comparable filings
- Revenue growth: 4.4% per year; rating input score 100; 39th percentile among comparable filings
- Asset growth: -4.1% per year; rating input score 0; 8th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 72.1% of spending went to programs
- Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $510K in reported program spending
- Leadership: top reported pay $547K · 11 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $116K reported
- Consistency: 33 of 33 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 23 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 4/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 55/100.
- High — Sustainability: Liabilities to assets ratio scored 1/100.
- High — Sustainability: Officer compensation ratio scored 6/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.