Friends Home at Woodstown Inc

Nonprofit profile at a glance

EIN
210455847
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Woodstown, NJ, USA
Phone
8567691500
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Services N.E.C.

Official website

Reported finances

Revenue
$6,464,162
Expenses
$9,756,501
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • CRAIG PETRY (CEO UNTIL JANUARY 2022)

Highest reported compensation

  • CRAIG PETRY (CEO UNTIL JANUARY 2022): $165,428 total reported compensation
  • DENISE KAISAR (DIR. OF CLINICAL SERVICES): $115,309 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of friends village is to provide comprehensive services for seniors based on the quaker principles that promote independence with choice, respect, and security.

What it reported doing in 2022

Friends home at woodstown operates a continuing care retirement community which currently provides housing, healthcare and other related services to elderly residents through the operation of a 61 bed assisted living facility, and 75 independent living apartments and cottages. We are committed to partnering with our local community and having a positive impact through collaboration and active participation.

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. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 83
  • Accountability: 90
  • Sustainability: 9
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.5%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 9th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -50.9%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 2.9%; rating input score 68; 68th percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: -0.5% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -6.2% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8.1M in reported program spending
  • Leadership: top reported pay $165K · 14 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $18.1M reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.