Blue Skies of Texas

What it reported doing in 2024

Air force villages, inc, (dba blue skies of Texas (bst)) and affiliates is a Texas not-for-profit, continuing-care retirement community (ccrc) providing services and care for seniors throughout the full continuum including independent living, assisted living, dementia care, nursing, and hospice. Bst east and bst west own and operate the independent living components of the continuum of care. Bst west consists of 435 independent living units, and owns, but leases to hsc, a 34-unit assisted-living facility in bexar county, Texas. Bst west consists of 4 residential mid-rise towers with 198 apartments; 188 garden homes in duplex configuration; 49 single family garden homes; and a two-story village town center with front desk services, lobby, mail facility, dining room, and meeting rooms. The bst west facility also includes two chapels, beauty salon, computer center, woodworking hobby shop, garden plots, driving range, dog park, and an rv storage park. Bst west has developed approximately 200 acres of its 660-acre tract. All facilities and services are fully operational. Each nursing home resident must retain the services of a personal physician who is responsible for supervising his/her medical and overall health care. Residents must remain under the care of a physician at all times while in the facility. The physician is required to meet state and federal requirements with respect to services, frequency of visits, and availability for emergency care. Bst west also retains dietary and pharmacy consultants. Since nearly all residents are eligible for military medical benefits, serious medical conditions are seen at nearby military and civilian medical facilities. Bst west has expanded resident eligibility to include those with no prior military affiliation to broaden the diversity of the senior living community.

Financial Efficiency

• Mission deployment rate: 87.6%; rating input score 88
• Program expense ratio: 99.9%; rating input score 100
• 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: 100%; rating input score 100; 72nd 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; 66th 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: 12.4%; rating input score 72; 72nd percentile among comparable filings
• Total-asset coverage ratio: 5.33; rating input score 85; 85th percentile among comparable filings
• Liabilities to assets ratio: 0.65; rating input score 20; 20th percentile among comparable filings
• Officer compensation ratio: 0.1%; rating input score 92; 92nd percentile among comparable filings

Growth

• Program expense growth: 7.3% per year; rating input score 100; 57th percentile among comparable filings
• Revenue growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
• Asset growth: -0.9% per year; rating input score 0; 8th percentile among comparable filings