Edgewood Summit Inc

Nonprofit profile at a glance

EIN
550701159
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Charleston, WV, USA
Phone
3043462323
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$15,817,416
Expenses
$16,117,681
Assets
$43,154,705
Liabilities
$38,842,499

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

Leadership & pay

24 people listed

Executive titles in this filing

  • JOHN DERITO (PRESIDENT)
  • ELIZABETH KEIGHTLY (VICE PRESIDENT)
  • DIANE GOUHIN (EXECUTIVE DIRECTOR (UNTIL 12/31/24))

Highest reported compensation

  • GEORGE BARKER (ADMINISTRATOR/EXEC DIR AS OF 01/2025): $168,923 total reported compensation
  • CHERIE LITTON (DIRECTOR OF MARKETING): $139,659 total reported compensation
  • GREG FABER (MAINTENANCE DIRECTOR): $134,737 total reported compensation

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

Overview

Mission

The organization's primary exempt function is to provide, on a non-profit basis, long-term care facilities in the state of West Virginia specifically designed to meet the physical, social and psychological needs of elderly and infirm persons, including but not limited to housing, buildings, structures, equipment, furnishings, programs and related health and other services contributing to their health, security, happiness and physical and mental well-being. The mission of edgewood summit is to provide an attractive, caring, comfortable senior living community. A secure environment and quality service that will be the hallmark of this community.

What it reported doing in 2024

1. Edgewood summit, inc. Has been open for 30 years. Apartments are upgraded when turnover occurs; this includes fresh paint, new carpet. An enhanced upgrade to each unit includes - new kitchen and bath cabinets with solid surface countertops, new lighting, new kitchen appliances including washer and dryer. All items with a useful life remaining are donated to habitat for humanity restore. These items include: ranges, refrigerators, dishwashers, washer/dryer combos and kitchen and bath cabinets, and light fixtures. Edgewood summit turned over approximately 51 units this past fiscal year and 15 units were touched up.total expenses incurred: $21,950 (see continuation on schedule o)2. Annually edgewood summit, inc. Participated in the following charitable activities: > union mission food drive - november - december 2024 > manna meal food drive - january - february 2025 > kanawha humane association supply drive - february - march 2025 > labeling for read aloud - september 2024 - june 2025 > alzheimer's fundraisers/walk - august 2024 & october 2024 > stuffing eggs for the city of south charleston (5,000 eggs) - march - april 2025 > stuffing eggs for the city of charleston (30,000 eggs) - march - april 2025 > green chili shoot out market mayhem event (supporting parkinsons) - march 2025 > piedmont elementary "back to school drive" - june 2025 > south charleston library book donations - july 2024 - june 2025 3. Edgewood summit, inc. Was a sponsor for West Virginia alzheimer's memory walk, West Virginia symphony orchestra, and the charleston ballet.total expense incurred: $6,764,244. In the fall of 2013 edgewood summit, inc. Opened the arthur b. Hodges center with 20 skilled nursing and 18 memory support units to complete the full continuum of care on our campus. Along with this addition all new residents moving into independent living receive a 20% discount from full contractual rates as they move through the continuum. For the then current independent living residents a plan was offered where the current resident could pay a one-time non-refundable deposit of $15,000 and they would also receive the health care benefit as they moved through the continuum. During the fiscal year ending june 30, 2025 edgewood summit had 17 residents move to higher levels of care and began utilizing the 20% discount - al 13, ms 0, and sn 4.total expense incurred: $137,865during the fiscal year ending june 30, 2025 edgewood summit had a total of 37 residents with the health care benefit residing in higher levels of care that were utilizing the 20% discount - al 37, ms 9, and sn 28.total expense incurred: $796,038.10 5. Dining services contributed 25 thanksgiving turkeys to various not for profits and volunteer organizations in the charleston communitytotal expense incurred: $444.37annual total expense for community services $825,196.71

Operating model

Revenue model
Earned-program. 97% 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. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 80%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -1.9%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 2.68; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 80% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $12.9M in reported program spending
  • Leadership: top reported pay $169K · 24 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.7M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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 — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.