Care Initiatives

What it reported doing in 2024

During 2024, care initiatives provided services to a daily average of 2,269 individuals in 43 skilled nursing care locations, two assisted living locations and seven independent living locations. Care initiatives provides quality health care, at the lowest possible cost to our residents and patients. Services provided include lodging, nutritious meals, assistance with activities of daily living, engaging activities to maintain the highest physical and mental quality of life attainable. Additional services include occupational, speech and physical therapy, outpatient therapy services, skilled nursing care, senior living apartments and assisted living locations. In addition, care initiatives has initiated a program of rehab to home care to provide individuals the opportunity to safely return to their homes. In addition, care initiatives provides limited outpatient therapy services in the communities it serves.during 2024, care initiatives also provided hospice services to a daily average of 376 patients through seven hospice locations. Care initiatives hospice provides coordinated care with compassion, respect and dignity to patients and their families experiencing serious illness and grief for a loved one. Some of the services provided include nursing care, physician care, physical and speech therapy, massage therapy, music therapy, spiritual support, respite care and bereavement support.care initiatives is the largest nonprofit skilled nursing provider for medicaid residents in Iowa. In 2024, a daily average of 1,364 residents participated in the medicaid program. Care initiatives' cost for these residents exceeded revenue by $25,233,000. No resident is denied a medication, nursing supply or therapy, regardless of their ability to pay.care initiatives has a history of modernization and replacement of nursing facilities. Since inception, care initiatives has invested more than $147 million to modernize its communities. Since inception, care initiatives has invested more than $111 million in fourteen new replacement facilities throughout Iowa.care initiatives promotes economic development in the communities we serve by addressing housing, employment, educational or environmental needs and concerns. In 2024, care initiatives contributed to our local communities by paying property tax of $2.52 million. In many communities we serve, care initiatives is among the largest employers.care initiatives supports our community volunteers who provided 6,093 hours to help our residents and patients. Using the independent sector's estimated dollar value of volunteer time, the estimated value of volunteer time totaled approximately $182,556.care initiatives' continuum of care extended into the communities it serves by providing reduced or no-fee services such as meals-on-wheels, meals for county jails, educational services and public awareness programs.in 2024, $16,281 in charitable contributions were made to support charitable organizations that further care initiatives' nonprofit mission.

Financial Efficiency

• Mission deployment rate: 89.2%; rating input score 89
• Program expense ratio: 91.8%; rating input score 92
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • 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: 90.1%; rating input score 90; 23rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 87.5%; rating input score 88; 34th 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: 2.4%; rating input score 45; 45th percentile among comparable filings
• Total-asset coverage ratio: 0.65; rating input score 25; 25th percentile among comparable filings
• Liabilities to assets ratio: 0.57; rating input score 31; 31st percentile among comparable filings
• Officer compensation ratio: 1.4%; rating input score 67; 67th percentile among comparable filings

Growth

• Program expense growth: 4.4% per year; rating input score 100; 35th percentile among comparable filings
• Revenue growth: 3.9% per year; rating input score 100; 31st percentile among comparable filings
• Asset growth: -0.7% per year; rating input score 0; 6th percentile among comparable filings