Fahrney-keedy Memorial Home Inc Aka Fahrney-keedy Home and Village
Nonprofit profile at a glance
- EIN
- 520610464
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Jul 2026
- Forms available
- Form 990 2024
- Location
- Boonsboro, MD, USA
- Phone
- 3017336284
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Supportive Housing for Older Adults
- Affiliation
- Christianity
Reported finances
- Revenue
- $27,222,287
- Expenses
- $29,386,564
- Assets
- $42,423,856
- Liabilities
- $30,392,589
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- STEPHEN COETZEE (PRESIDENT/CE)
Highest reported compensation
- STEPHEN COETZEE (PRESIDENT/CE): $229,364 total reported compensation
- TARA DELAUNEY (LPN NURSE MA): $164,234 total reported compensation
- CHARLES SULUREH (GNA): $142,759 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We are committed to enhancing the lives of seniors through caring quality services. We are a continuing care retirement community (ccrc) with independent living services, assisted living services, and nursing services. The organization has 41 independent living cottages, 24 independent living apartments, 50 assisted living beds, and a 98 bed skilled nursing facility located in boonsboro, Maryland. In october 2022, the organization acquired coffman nursing home, inc. Located in hagerstown Maryland. Coffman is a 59 bed facility and provides skilled nursing care and rehabilitation services for residents.
What it reported doing in 2024
All other services include executive management services, business support services, other patient care expenses, dietary services, adult day care, and property services. Expenses by program are as follows: routine services - 5,215,913 capital and property services - 2,147,734 other patient care - 736,419 adult day care - 384,575 staff development - 126,052
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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 70
- Accountability: 95
- Sustainability: 30
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91.5%; rating input score 91
- Program expense ratio: 85.5%; rating input score 86
- Fundraising efficiency: $5.17 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings
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 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: -8%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 1.44; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 0.72; rating input score 17; 17th percentile among comparable filings
- Officer compensation ratio: 3.5%; rating input score 64; 64th percentile among comparable filings
Growth
- Program expense growth: 7.4% per year; rating input score 100; 58th percentile among comparable filings
- Revenue growth: 6.1% per year; rating input score 100; 53rd percentile among comparable filings
- Asset growth: 7% per year; rating input score 100; 49th percentile among comparable filings
Details
- Where the money goes: 91.5% of revenue deployed · 85.5% of spending went to programs
- Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $25.1M in reported program spending
- Leadership: top reported pay $229K · 23 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $1.1M reported
- Consistency: 36 of 36 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 7 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
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.
- High — Financial Efficiency: Fundraising efficiency scored 21/100.
- High — Sustainability: Operating margin scored 12/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.
- High — Sustainability: Liabilities to assets ratio scored 17/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.