Fannie Norwood Memorial Home the Aged Inc

Nonprofit profile at a glance

EIN
560552786
IRS 990 coverage
2013–2013
Forms available
Form 990 2013
Location
Wilmington, NC, USA
Phone
9107620209
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$325,271
Expenses
$257,009
Assets
$108,896
Liabilities
$21,273

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • MARGARET FREDL (ADMINISTRATOR): $30,000 total reported compensation
  • MARGARET FREDL (ADMINISTRA): $30,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

9-15 senior citizens were cared for at the fnmh, residents received medical attention, exposure to cultural arts & craft activities, nutritional meals & 24-hr supervision

What it reported doing in 2013

Payroll taxes are related to the employees who care for the residents

Operating model

Revenue model
Earned-program. 82% 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 most voting board members are independent. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 100
  • Accountability: 67
  • Sustainability: 50
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.1%; rating input score 60
  • Program expense ratio: 76%; rating input score 76
  • 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: 83.3%; rating input score 83; 21st percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 23.3%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 60.1% of revenue deployed · 76% of spending went to programs
  • Governance: 5 of 6 board members independent · 4 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $195K in reported program spending
  • Leadership: top reported pay $30K · 8 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.