Glen Eddy Inc

Nonprofit profile at a glance

EIN
141794150
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Niskayuna, NY, USA
Phone
5182808000
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$9,700,844
Expenses
$8,854,489
Assets
$19,862,631
Liabilities
$25,829,424

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • STEVEN HANKS MD (DIRECTOR; PRESIDENT & CEO)

Highest reported compensation

  • DANIEL ISACKSEN (DIRECTOR; TRINITY HEALTH CFO): $2,827,147 total reported compensation
  • STEVEN HANKS MD (DIRECTOR; PRESIDENT & CEO): $1,744,842 total reported compensation
  • THOMAS ROBERT (VP, CFO & TREAS - NY REG THR 11/24): $1,123,341 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, st. Peter's health partners and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities. Glen eddy is a member of st. Peter's health partners and trinity health.

What it reported doing in 2024

Glen eddy is a senior living community located in niskayuna, New York. The community offers independent living in 82 apartments and 16 cottages and assisted living in 42 enriched housing units. The retirement community serves residents 55 years of age and older, and provides security, maintenance, dining, activities, transportation, and amenities to allow residents to stay independent as long as possible. The enriched housing units provide assistance with the activities of daily living, as well as health related services to its residents. Glen eddy is committed to making its services and facilities available to residents who can no longer meet the financial obligations of residency.please visit our website for additional information: www.eddyseniorliving.com/our-communities

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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 67
  • Accountability: 68
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76%; rating input score 76
  • Program expense ratio: 83.8%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 8.7%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 2.24; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 1.3; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 14.4%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 76% of revenue deployed · 83.8% of spending went to programs
  • Governance: 9 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.4M in reported program spending
  • Leadership: top reported pay $2.8M · 25 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.7M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 323 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.