El Castillo Retirement Residences

Nonprofit profile at a glance

EIN
850211735
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2021
Location
Santa Fe, NM, USA
Phone
5059882877
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$22,222,063
Expenses
$22,547,492
Assets
$118,759,449
Liabilities
$107,725,598

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

Leadership & pay

14 people listed

Executive titles in this filing

  • WILLIAM GARCIA (PRESIDENT)
  • JANIE THELIN (VICE PRESIDENT)
  • CAROLE PEET (CEO)

Highest reported compensation

  • CAROLE PEET (CEO): $322,137 total reported compensation
  • MARIYA FLORES (CFO): $179,769 total reported compensation
  • KATHLEEN O'NEIL (REGISTERED NURSE): $132,434 total reported compensation

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

Overview

Mission

To build, own, operate, and maintain residential, nursing, and protective-care facilities and services for the elderly.

What it reported doing in 2024

El castillo is a retirement community that provides four levels of continuing and long-term care: independent living, assisted living, nursing, and memory care. Approximately 265 elderly persons received housing, meals, and medical care during the fiscal year.

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. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.3%; rating input score 68
  • Program expense ratio: 67.3%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • 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: 100%; rating input score 100; 66th 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: -1.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 5.27; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 11.4% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 68.3% of revenue deployed · 67.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.2M in reported program spending
  • Leadership: top reported pay $322K · 14 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.7M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.