Cardea Health

What it reported doing in 2024

Medical Respite Care - Medical respite care is acute and post-acute care for people experiencing homelessness who are too ill or frail to recover from an illness or injury on the streets or in a shelter, but who do not require hospital level care. The 34 bed Fairmont Tiny Homes program officially opened in August of 2021, offering a mix of 15 beds reserved for respite care and 19 units for transitional housing, all designated for the unhoused population of mid and unincorporated Alameda County. Since opening, the Organization has provided nursing services and support to over 100 individuals needing to recuperate from everything from minor surgery to malignant cancer. The program accepts referrals from local hospitals and street medicine teams that conduct outreach to the unhoused population. Eddie's Place located in Oakland opened in May 2023 and provides 61 units of medical respite beds. Alameda County Homekey Program - The Alameda County Project Homekey program, located in East Oakland, is a 240 bed Permanent Supportive Housing program for formerly homeless individuals and are home to people who have experienced chronic homelessness and require clinical support to live in Permanent Supportive Housing. The Organization provides enhanced on-site clinical services that allow medically frail individuals to live successfully in a community-based setting through the end of their life, regardless of how their care needs change over time. The Homekey locations are now home to over 60 formerly homeless individuals who would otherwise be at risk of institutionalization due to advanced medical conditions or disability. The Organization is working to expand the program so that no one who is unhoused and severely ill should have to choose between living on the street or living in an institution. Cardea Home Health - The Organization operates a licensed home health agency under a management agreement for the purpose of providing home health services to unsheltered individuals and people coming out of homelessness. Cardea Home Health services are Medicaid and Medicare certified, and include occupation and physical therapy, as well as nursing services. The Organization strives to provide services that homeless individuals are often excluded from because they are unhoused. Lake Merritt Lodge - The Organization provides nursing support and personal care services at Lake Merritt Lodge, an emergency shelter operated by the City of Oakland and Housing Consortium of the East Bay ("HCEB"). Services are focused on supporting and strengthening resident relationships with primary and specialty care services offered by community clinics and prepare residents to manage their medical needs independently upon the transition to permanent housing.

Financial Efficiency

• Mission deployment rate: 72.9%; rating input score 73
• Program expense ratio: 90.1%; rating input score 90
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • 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: 75%; rating input score 75; 14th 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: 18.5%; rating input score 80; 80th percentile among comparable filings
• Total-asset coverage ratio: 1.23; rating input score 44; 44th percentile among comparable filings
• Liabilities to assets ratio: 0.37; rating input score 40; 40th percentile among comparable filings
• Officer compensation ratio: 13.8%; rating input score 10; 10th percentile among comparable filings

Growth

• Program expense growth: 69.3% per year; rating input score 100; 99th percentile among comparable filings
• Revenue growth: 51% per year; rating input score 100; 98th percentile among comparable filings
• Asset growth: 70% per year; rating input score 100; 99th percentile among comparable filings