Bernardine Apartments Inc
Nonprofit profile at a glance
- EIN
- 161012804
- IRS 990 coverage
- 2021–2024
- Forms available
- Form 990 2024
- Location
- Syracuse, NY, USA
- Phone
- 3154133206
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $1,437,201
- Expenses
- $2,626,745
- Assets
- $9,514,057
- Liabilities
- $555,905
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- KIMBERLY TOWNSEND (CEO/PRESIDENT)
- STEPHANIE BUTTON (VICE PRESIDENT, PACE)
- HOLLY HOEHNER (VICE PRESIDENT, GENERAL COUNSEL)
- JENNIFER INGERSON (VICE PRESIDENT, HOUSING)
Highest reported compensation
- KIMBERLY TOWNSEND (CEO/PRESIDENT): $609,681 total reported compensation
- JOHN MURRAY (CHIEF FINANCIAL OFFICER): $299,513 total reported compensation
- HOLLY HOEHNER (VICE PRESIDENT, GENERAL COUNSEL): $274,608 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization currently owns and operates an apartment building which offers 196 independent living units for the elderly.
What it reported doing in 2024
Bernardine apartments, inc. Is an affordable senior living complex that provides amenities for the most active of independent seniors as well as offering professional, long-term care services through an affiliated organization for those who may need them. The organization provides a continuum of care that enables residents to age gracefully in one place without needing to relocate. The bernardine now features many newly renovated apartments specifically designed for those with physical challenges. The facility is divided into neighborhoods, which provide residents with a true sense of community.
Operating model
- Revenue model
- Earned-program. 83% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and assets have declined or grown slowly.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 84
- Accountability: 95
- Sustainability: 30
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 81.7%; rating input score 82
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -82.8%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 3.62; rating input score 79; 79th percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
- Officer compensation ratio: Limited
Growth
- Program expense growth: 1.9% per year; rating input score 100; 26th percentile among comparable filings
- Revenue growth: 9.1% per year; rating input score 100; 63rd percentile among comparable filings
- Asset growth: -10.6% per year; rating input score 0; 3rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 81.7% of spending went to programs
- Governance: 16 of 16 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $2.1M in reported program spending
- Leadership: top reported pay $610K · 25 people listed · 4 of 6 pay-setting controls reported
- Consistency: 27 of 27 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 4 filing years from 2021 to 2024
- Contacts: How to reach this organization
- Related organizations: 20 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 — Sustainability: Operating margin scored 1/100.
- High — Growth: Asset growth scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Review — Sustainability: Liabilities to assets ratio scored 50/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.