Bonita Springs Retirement Village Inc

Nonprofit profile at a glance

EIN
262386152
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
Fort Washington, PA, USA
Phone
2156618330
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities
Affiliation
Christianity

Official website

Reported finances

Revenue
$24,394,854
Expenses
$32,592,839
Assets
$134,900,714
Liabilities
$134,834,580

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • GERALD T GRANT (CEO/CHAIRMAN/DIRECTOR (EFF. 11/1/24))
  • LAWRENCE G SCHREIBER (PRESIDENT & CEO (THRU 10/31/2024))
  • STEVEN ZIEGLER (PRESIDENT & CLO (THRU 10/31/2024))
  • MICHELE WASSERLAUF (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LAWRENCE G SCHREIBER (PRESIDENT & CEO (THRU 10/31/2024)): $6,665,199 total reported compensation
  • STEVEN ZIEGLER (PRESIDENT & CLO (THRU 10/31/2024)): $1,808,396 total reported compensation
  • GERALD T GRANT (CEO/CHAIRMAN/DIRECTOR (EFF. 11/1/24)): $1,795,839 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Bonita springs retirement village, inc. Dba the terraces at bonita springs is committed to providing security and peace of mind to seniors by being the pre-eminent provider of retirement-life services, responsive to individual, social, personal, health and spiritual needs in a christian atmosphere graced with loving-kindness, dignity, sensitivity, honesty, and respect without prejudice or preference.

What it reported doing in 2024

Bonita springs retirement village, inc. Dba the terraces at bonita springs provides life care services to senior adults aged 62 and older that include independent living housing, dining and nutritional services, pastoral services, security, housekeeping, maintenance services and social, cultural, educational, spiritual and recreational activities. In addition, when a resident's health care needs change, bonita springs retirement village, inc. Dba the terraces at bonita springs offers assisted living, memory care, skilled nursing care and hospice services. At december 31, 2024, bonita springs retirement village, inc. Dba the terraces at bonita springs served 145 residents in independent living, 62 residents in assisted living, and 31 residents in skilled care.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating 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 the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 65
  • Accountability: 71
  • Sustainability: 29
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75.3%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 8th 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: -33.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 4.14; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 8.4%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: -3.2% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 12.8% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75.3% of spending went to programs
  • Governance: 2 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $24.5M in reported program spending
  • Leadership: top reported pay $6.7M · 21 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.6M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 18 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.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.