Charterhouse Inc

What it reported doing in 2014

Program service accomplishments (see sch o)program service accomplishments (see sch o)charterhouse is a retirement living community whose purpose is to meet the physical, emotional, recreational, and similar needs of elderly persons. Charterhouse residents occupied 203 independent living units in 2014. Charterhouse provides a cultural arts room, craft rooms, fitness center, greenhouse, chapel, library, music room, and other facilities to enhance the well-being of residents. A secured, year-round skyway-subway system links charterhouse to the mayo clinic campus and the downtown business community.charterhouse operates on a nondiscriminatory basis, regardless of race, color, sex, religion or national origin.charterhouse provides a continuum of services to meet the healthcare needs of residents. The continuum includes a state licensed medicare certified 32-bed skilled nursing facility, a short term rehabilitation center, and a licensed certified home health care agency. The short term rehabilitation center accepts both residents and nonresidents for its program. In 2014, the skilled nursing facility admitted 482 patients, with a total of 7,734 patient days. The home health agency is staffed by registered nurses and experienced health care aides and it provides services to residents that help them remain in their independent living environment for as long as possible. Services provided by the home health agency personnel range from personal grooming to meal preparation. Charterhouse has a 32-bed care facility called the supportive care center licensed by the Minnesota department of health. In this setting, licensed nursing staff provide residents 24-hour a day assistance with their daily living activities.charterhouse also has a 49 unit residential setting called the assisted living center. This center serves residents who are not able to live independently in an apartment, but do not require the skilled nursing care provided in the health center. Personal care services in this facility are provided by the home health agency.charterhouse maintains continuing arrangements with other organizations, facilities, and health personnel to provide access to the services of physical, occupational, and speech therapists, hearing aid and eyeglass services, a geriatric continuity clinic and a podiatry clinic, to meet the healthcare needs of its residents.charterhouse also offers an array of support services including assistance with grocery shopping, meal preparation, personal laundry and linen, bathing, dressing, personal correspondence, and an escort service to and from community events and appointments.charterhouse maintains in residence older persons who become unable to pay regular charges. Such residents are entitled to remain in their apartments and to receive charterhouse's normal and routine services, as long as they have not willfully dissipated their personal assets. Charterhouse maintains a benevolent care fund to assist needy residents in meeting their financial obligation to charterhouse.uncompensated care: charterhouse provides a variety of financial assistance options to patients who meet established criteria. The medicare shortfall during 2014 within charterhouse's skilled nursing facility was approximately $1,802,800. In addition, charterhouse provided $39,998 in charitable assistance to residents no longer able to afford their units. Charterhouse paid $98,263 to mncare - a program that offers healthcare assistance to low income populations.

Financial Efficiency

• Mission deployment rate: 89.1%; rating input score 89
• Program expense ratio: 96.8%; rating input score 97
• 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: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Limited
  • 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: 6.9%; rating input score 66; 66th percentile among comparable filings
• Total-asset coverage ratio: 2.57; rating input score 75; 75th percentile among comparable filings
• Liabilities to assets ratio: 0.79; rating input score 17; 17th percentile among comparable filings
• Officer compensation ratio: 1.9%; rating input score 71; 71st percentile among comparable filings

Growth

• Program expense growth: -1.5% per year; rating input score 0; 22nd percentile among comparable filings
• Revenue growth: 1.2% per year; rating input score 100; 29th percentile among comparable filings
• Asset growth: 4.1% per year; rating input score 100; 47th percentile among comparable filings