The Estates at Carpenters
Legal name: Carpenter's Home Estates Inc
Nonprofit profile at a glance
- EIN
- 592347336
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Lakeland, FL, US
- Phone
- (863) 858-3847
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $24,230,226
- Expenses
- $22,078,094
- Assets
- $66,131,305
- Liabilities
- $54,380,222
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- DAVID VESPA (VICE PRESIDENT)
- LEO GILLMAN (PRESIDENT)
- BRIAN ROBARE (CEO & EXECUTIVE DIRECTOR)
Highest reported compensation
- BRIAN ROBARE (CEO & EXECUTIVE DIRECTOR): $360,129 total reported compensation
- LILYBETH LUCAS (THERAPY DIRECTOR): $155,355 total reported compensation
- CYNTHIA AYALA (ADMININISTRATOR): $150,690 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide a Life Plan Community where seniors can live each day as they choose, with vibrant lifestyle, unmatched social calendar, and peace of mind of having top-quality health care right on site.
What it reported doing in 2024
Carpenter's home estates, inc. Operates a 49-unit assisted living facility with a licensed occupancy of 52 residents. The facility holds an extended congregate care license to allow for the provision of nursing services to the residents. This specialty license enables the facility to expand the number and types of services provided to the residents with the intent of allowing them to "age in place." this license and staffing pattern, which includes 24-hour-a-day nursing coverage, permits the residents to age with dignity and postpones their transfer to skilled nursing, which has a higher cost than assisted living. In 2024, 90% of the residents served in the assisted living facility were receiving lifecare benefits. Through their resident agreement, these residents receive a guarantee for the provision of services and support regardless of their ability to pay, as long as they have not disposed of their assets at less than fair market value. In the estates' 39-year history, no resident has ever been asked to leave due to their inability to meet their financial obligations to the organization.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Direct operator. The filing allocates 97% 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 some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 72
- Accountability: 91
- Sustainability: 61
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 79.8%; rating input score 80
- Program expense ratio: 87.6%; rating input score 88
- 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: Limited
- 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: 8.9%; rating input score 65; 65th percentile among comparable filings
- Total-asset coverage ratio: 3; rating input score 75; 75th percentile among comparable filings
- Liabilities to assets ratio: 0.82; rating input score 13; 13th percentile among comparable filings
- Officer compensation ratio: 4.1%; rating input score 58; 58th percentile among comparable filings
Growth
- Program expense growth: 2.7% per year; rating input score 100; 24th percentile among comparable filings
- Revenue growth: 2.6% per year; rating input score 100; 22nd percentile among comparable filings
- Asset growth: 3.7% per year; rating input score 100; 27th percentile among comparable filings
Details
- What they do: 4 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 79.8% of revenue deployed · 87.6% of spending went to programs
- Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $19.3M in reported program spending
- Leadership: top reported pay $360K · 12 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.7M reported
- Consistency: 35 of 35 current checks pass
- Schedules: 7 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- 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.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Liabilities to assets ratio scored 13/100.
- Review — Sustainability: Officer compensation ratio scored 58/100.