Centennial Square C/o Sunrise Village
Nonprofit profile at a glance
- EIN
- 411804213
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Willmar, MN, USA
- Phone
- 3202359532
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $205,993
- Expenses
- $264,856
- Assets
- $1,135,803
- Liabilities
- $28,412
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- MICHELLE HAEFNER (CEO)
Highest reported compensation
- MICHELLE HAEFNER (CEO): $380,743 total reported compensation
- SAM QUAM (ADMINISTRATOR/VP OF OPERATIONS): $177,362 total reported compensation
- TROY PEDERSON (VP OF SENIOR HOUSING): $147,804 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Serving others together in faith, community and life.
What it reported doing in 2024
Centennial square operates a 39-unit apartment building for the very low income elderly and disabled persons who meet the standards as set by hud. The housing is located in willmar, mn. Each apartment includes one bedroom, bathroom, a kitchen, and living room. The building includes spacious community spaces and coin-free laundry facilities. Centennial square offers many opportunities for socialization including outings, special meal events, and games. Centennial square has enjoyed 98.7% occupancy, serving 40 people, in fiscal year ending september 30, 2025.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 71
- Transparency & Controls: 59
- Accountability: 91
- Sustainability: 32
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.8%; rating input score 87
- Program expense ratio: 67.8%; rating input score 68
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 22nd 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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: -28.6%; rating input score 10; 10th percentile among comparable filings
- Total-asset coverage ratio: 4.29; rating input score 76; 76th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 38; 38th percentile among comparable filings
- Officer compensation ratio: 40.4%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: -1.6% per year; rating input score 0; 25th percentile among comparable filings
- Revenue growth: 2% per year; rating input score 100; 35th percentile among comparable filings
- Asset growth: -3.1% per year; rating input score 0; 14th percentile among comparable filings
Details
- Where the money goes: 86.8% of revenue deployed · 67.8% of spending went to programs
- Governance: 12 of 12 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $180K in reported program spending
- Leadership: top reported pay $381K · 16 people listed · 0 of 6 pay-setting controls reported
- Consistency: 26 of 27 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Related organizations: 3 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 10/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Growth: Asset growth scored 0/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 6/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.