Elder's Home Inc

Nonprofit profile at a glance

EIN
410837822
IRS 990 coverage
2009–2015
Forms available
Form 990 2015
Location
New York Mills, MN, USA
Phone
2183852005
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities

Official website

Reported finances

Revenue
$3,128,787
Expenses
$3,106,953
Assets
$1,103,074
Liabilities
$884,294

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

Leadership & pay

14 people listed

Highest reported compensation

  • Calvin Anderson (Administrator (Thru July)): $96,173 total reported compensation

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

Overview

Mission

The Elders' Home, established upon Christian principles and Finnish heritage, is a provider of services designed to meet the lifestyle needs of the aging and medically dependent population in our region. These services are provided through a continuum of living possibilities, to assist residents of our community in reaching and maintaining the highest quality of life.The elders' home stands for high professional standards, quality service and devoted commitment to geriatric care.

What it reported doing in 2015

Elders' Home is a 45 bed skilled nursing facility, licensed by the state of Minnesota. Thirty-three rooms are single occupancy, and six rooms are semi-private. The organization provided 12,963 resident days during the fiscal year ended 9/30/16.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 93
  • Accountability: 95
  • Sustainability: 32
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.9%; rating input score 85
  • Program expense ratio: 85.5%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 11th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 65th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 0.7%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: -7.1% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 84.9% of revenue deployed · 85.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $96K · 14 people listed
  • Highest-paid contractors: 1 contractor listed · $131K reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 7 filing years from 2009 to 2015
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.