Franciscan Retreat Center

Nonprofit profile at a glance

EIN
205816806
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Colorado Springs, CO, USA
Phone
7199557025
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$417,157
Expenses
$724,686
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Terri Gray (Executive Director)
  • Jim Pagano (President/Chairman)
  • Sr Marietta Spenner (Vice President)

Highest reported compensation

  • Gail Hickert (Director): $306,004 total reported compensation
  • Terri Gray (Executive Director): $55,160 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The franciscan retreat center provides a quiet, reflective place of beauty for people of all faiths for retreats, conferences, meetings, workshops, seminars, select celebrations, or just time away. See sch o for continuation.

What it reported doing in 2023

Hospitality to groups & individuals. As of August 1, 2023, operations of the Center were transferred to the Diocese of Colorado Springs (the Diocese) and the Center was dissolved on December 26, 2023. All employees of the Center became employees of the Diocese and all Center furnishings were transferred to the Diocese. All operations and business relationships, including a land lease, were transitioned to the Diocese. As part of the Memorandum of Understanding, the Center transferred three months of operating capital to the Diocese which totaled $168,178, which it viewed as a contribution expense. The remaining net assets were transferred to the Sisters of Saint Francis of Colorado Springs.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 51% for direct work, and 49% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 76
  • Accountability: 83
  • Sustainability: 5
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.9%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 24th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96.9%; rating input score 97; 58th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 21st 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -73.7%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 12.2%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.9% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $666K in reported program spending
  • Leadership: top reported pay $306K · 6 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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 3/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.