Georgian Court Estates Senior Housing Co

Nonprofit profile at a glance

EIN
204288247
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
New Hartford, NY, USA
Phone
3157973114
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$311,120
Expenses
$270,279
Assets
$1,158,620
Liabilities
$1,162,503

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • CHRISTA L SERAFIN (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • CHRISTA L SERAFIN (CHIEF EXECUTIVE OFFICER): $224,297 total reported compensation
  • PATRICIA HAYS (ADMINISTRATOR): $111,326 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization provides a multi unit apartment complex; units are leased to individuals 62 yrs old and older. The units are leased to individuals who can care for themselves. Services provided include social programming & assistance, fire alarm system, and maintenance & grounds upkeep. Laundry, housekeeping services, meals, and transportation are provided as needed.

What it reported doing in 2018

The organization leases multi-unit apartments to individuals 62 years of age and older who can care for themselves. Included services are social programming, fire alarm system, and maintenance & grounds upkeep. Services provided as needed are laundry & housekeeping services, meals, and transportation. In 2018, georgian court estates' total resident days were 7596 with a total of 27 seniors served.

Operating model

Revenue model
Earned-program. 96% 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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 71
  • Accountability: 93
  • Sustainability: 61
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.6%; rating input score 81
  • Program expense ratio: 92.8%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Missing
    • 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: 87.5%; rating input score 88; 22nd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.1%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 4.29; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: -3.2% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: -1.7% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: -5.1% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 80.6% of revenue deployed · 92.8% of spending went to programs
  • Governance: 7 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $251K in reported program spending
  • Leadership: top reported pay $224K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Related organizations: 6 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.