Centrastate Assisted Living Inc

Nonprofit profile at a glance

EIN
223520730
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Freehold, NJ, USA
Phone
7322947050
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$6,264,471
Expenses
$7,840,716
Assets
$6,772,912
Liabilities
$11,064,616

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

Leadership & pay

12 people listed

Executive titles in this filing

  • THOMAS W SCOTT fache fabc (VICE CHAIR-TRST/CSMC PRES/CEO)

Highest reported compensation

  • THOMAS W SCOTT fache fabc (VICE CHAIR-TRST/CSMC PRES/CEO): $1,384,071 total reported compensation
  • JOHN A DELLOCONO (TRUST-CSMC SVP/CFO(TERM 7/24)): $550,537 total reported compensation
  • LAURA L SCHILARE MBA CPA (CSMC VP FINANCE): $341,267 total reported compensation

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

Overview

Mission

Providing home-like environment, personalized supportive services and healthcare designed to respond to individual needs of those who require help in daily activities.

What it reported doing in 2024

Monmouth crossing owns and operates an assisted living facility for the elderly consisting of 76 units with 16 units for memory care. The facility provides residents with special needs and memory-related diseases: receive comprehensive, attentive services in a safe environment where specialized activities and programming are provided. Monmouth crossing offers services to residents of low and moderate means and those on medicaid as well.

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 the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 82
  • Accountability: 65
  • Sustainability: 15
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 40%; rating input score 40; 7th 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: -25.2%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.86; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 1.63; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 10.9%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90% of spending went to programs
  • Governance: 2 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.1M in reported program spending
  • Leadership: top reported pay $1.4M · 12 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $427K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 11 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.

  • Moderate — Accountability: Independent voting board scored 40/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.