Capitol Lakes Inc

Nonprofit profile at a glance

EIN
391412320
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
8887246424
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$25,131,752
Expenses
$25,851,646
Assets
$44,917,925
Liabilities
$100,655,799

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

Leadership & pay

11 people listed

Executive titles in this filing

  • TIM CONROY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TIM CONROY (EXECUTIVE DIRECTOR): $395,491 total reported compensation
  • KRISTIN VATER (HEALTH CENTER ADMINISTRATOR): $204,020 total reported compensation
  • HOLLY JOHNSON (SALES DIRECTOR): $179,414 total reported compensation

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

Overview

Mission

Capitol lakes is a premier continuing care retirement community dedicated to enriching lives.

What it reported doing in 2024

Capitol lakes is a continuing care retirement community, dedicated to enhancing our residents' quality of life in a stimulating, secure environment. We provide high-quality services including housing, nutritious meals, nursing, housekeeping, maintenance, and other support to those we serve. Our levels of service include independent living, assisted living, and skilled nursing.

Operating model

Revenue model
Other-operating. 93% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.8%; rating input score 84
  • Program expense ratio: 81.3%; rating input score 81
  • 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: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.9%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.74; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 2.24; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: -4.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 83.8% of revenue deployed · 81.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $21M in reported program spending
  • Leadership: top reported pay $395K · 11 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 51 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.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.