Elderly Home Inc

Nonprofit profile at a glance

EIN
016024156
IRS 990 coverage
2010–2021
Forms available
Form 990 2021
Location
Madawaska, ME, USA
Phone
2077284575
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$321,047
Expenses
$471,124
Assets
$1,476,563
Liabilities
$1,265,043

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • DAVID WYLIE (PRESIDENT)
  • SHARON BOUCHER (VICE PRESIDENT)

People named in this filing

  • DAVID WYLIE (PRESIDENT)
  • JAMIE PELLETIER (MEMBER)
  • KELLY PICARD (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide the poor and elderly affordable housing.

What it reported doing in 2021

To provide housing to the elderly and poor

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.5%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -46.7%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 3.13; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 10.7% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $436K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 12 filing years from 2010 to 2021
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.