Broadmead

Legal name: Broadmead Inc

Nonprofit profile at a glance

EIN
521056690
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Cockeysville, MD, US
Phone
410-527-1900
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$51,579,010
Expenses
$42,730,871
Assets
$224,960,796
Liabilities
$135,361,422

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

Leadership & pay

29 people listed

Executive titles in this filing

  • JAY PRINCE (PRESIDENT/CEO (FROM 10/24))
  • ROBIN SOMERS (PRESIDENT/CEO (UNTIL 09/24))

Highest reported compensation

  • ROBIN SOMERS (PRESIDENT/CEO (UNTIL 09/24)): $430,777 total reported compensation
  • JENNIFER SCHILPP (TREASURER/CFO): $406,427 total reported compensation
  • KRISTY KRUEGER (VP OF SALES & MARKETING): $311,793 total reported compensation

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

Overview

Mission

Broadmead is a not-for-profit, Life Plan Community nestled within 94-acres in the Hunt Valley.

What it reported doing in 2024

Continuing care retirement community program: there are three levels of care consisting of independent living, assisted living, and skilled nursing.independent living: to provide comprehensive, independent living services for aging people, including medical, dietary, social, and housekeeping services for residents. Broadmead had approximately 137,916 independent living census days during the fiscal year ended june 30, 2025.(continued on schedule o.) assisted living: to provide an intermediate level of care when residents need help with some activities of daily living, but do not require 24 hour skilled nursing care, that encourages residents to function at their highest level of independence. Broadmead had approximately 12,688 assisted living census days during the fiscal year ended june 30, 2025. Skilled nursing: to provide quality nursing care in a comfortable health care center. This level of care is available on both a long term and short term basis and provides for 24 hour skilled nursing care. Broadmead had approximately 12,690 health care center census days during the fiscal year ended june 30, 2025.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% 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. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.4%; rating input score 68
  • Program expense ratio: 74.9%; rating input score 75
  • Fundraising efficiency: $1.78 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 21st percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th 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: 17.2%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 5.26; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 6.6% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 66th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 68.4% of revenue deployed · 74.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $32M in reported program spending
  • Leadership: top reported pay $431K · 29 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $7.1M reported
  • Consistency: 38 of 39 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 4 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.