Crestview Unity

Nonprofit profile at a glance

EIN
760697463
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
The Woodlands, TX, USA
Phone
2813632600
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities
Affiliation
Christianity

Official website

Reported finances

Revenue
$483,175
Expenses
$521,309
Assets
$3,455,089
Liabilities
$67,694

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • MR RONALD E JENNETTE (PRESIDENT)
  • MR HAROLD ERMSHAR (EXECUTIVE DIRECTOR)
  • MR MATTHEW CURRIE (VP/EXECUTIVE DIRECTOR)

Highest reported compensation

  • MR RONALD E JENNETTE (PRESIDENT): $288,177 total reported compensation
  • MR CHARLES CHILDRESS (SR VP OPERATIONS): $167,743 total reported compensation
  • MR DON STEPHENS (CFO/TREASURER): $162,672 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

He organization is committed to quality living for senior adults in a faith-based environment. The organization takes great pride in being an important part of the broader, local community where it serves seniors and provides local employment in meeting its mission of service ministry to senior adults. The covenant connection with the Texas annual conference of united methodists links the organization to its heritage and origin, though the organization openly accepts persons of all faiths and beliefs; with no discrimination toward residents, staff, board members, volunteers, donors, vendors, etc. The organization accepts donations, usually through the mrc foundation, to assist and retain residents who outlive their resources and run low on funds or eventually even out of money through no fault of their own. The organization provides services, programs, activities, care and housing to seniors in independent/residential living apartments, assisted living apartments, specialty memory supp

What it reported doing in 2015

Crestview unity (the project) is a nonprofit, tax exempt organization operating a 63-unit apartment complex for the elderly located in bryan, Texas. The project is operated under section 202 of the national housing act and regulated by the u.s. Department of housing and urban development (hud) with respect to rental charges and operating methods. The project received a hud section 202 capital advance which places certain conditions on the project for a period of 40 years. The project's section 202 capital advance is considered a major program. The project is also subject to a project rental assistance contract (prac) with hud, and a significant portion of the project's rental income is received from hud. The project's prac rental subsidy is considered a nonmajor program. The project is managed by methodist retirement communities (mrc), a Texas nonprofit corporation, who appoints the board of directors of the project.

Operating model

Revenue model
Earned-program. 93% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 82
  • Accountability: 94
  • Sustainability: 45
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.7%; rating input score 70
  • Program expense ratio: 64.7%; rating input score 65
  • 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: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • 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: 90%; rating input score 90; 24th 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: -7.9%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 6.63; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 17.3%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: -1.9% per year; rating input score 0; 35th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 29th percentile among comparable filings

Details

  • Where the money goes: 69.7% of revenue deployed · 64.7% of spending went to programs
  • Governance: 9 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $337K in reported program spending
  • Leadership: top reported pay $288K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Related organizations: 15 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.