Heath Village

What it reported doing in 2024

Heath village is a full-service retirement community which also includes a comprehensive health care facility. There are no life care fees and optional entrance fees, making it an affordable choice for today's retiree who wants to remain active, involved and independent. The 100+ acre community offers a variety of living accommodations including: 149 independent apartments ranging in size from studio to two-bedrooms; 10 cottage style apartments which include two bedrooms, a single car garage, utility room, two baths, an eat-in kitchen and a three-season porch; 27 hotel-style apartments which are under renovation to become assisted living units; 40 residential healthcare beds and 108 skilled nursing beds, both licensed by the New Jersey state department of health. For the fiscal year ended june 30, 2025, the independent apartments served 235 residents, the residential health care unit served 46 residents, and the skilled nursing unit served 497 short-term and long-term patients. The facility provides financial assistance through its benevolent care fund, the friendship fund, to residents who have exhausted their resources. During the fiscal year, the friendship fund provided $221,092 in benevolent care across all levels of care.all residents and patients of the community enjoy around the clock security, a wireless emergency/nurse call alert system, wifi, maintenance services, transportation services, pastoral services, and social activities both on campus and off campus in addition to a swimming pool and jacuzzi, community garden, shuffle board court, bocce court, nature/walking trail, library, fitness center, gift shop, beauty salon, craft shop, chapel, and numerous other amenities. During the fiscal year a greenhouse was added to the community garden and a dog park was added to the campus.independent residents of the community enjoy a diverse schedule of regularly planned activities including yoga, fitness classes, movie nights, worship services, live entertainment, pool parties and much more. During the fiscal year, off-campus trips included willowbrook mall, centenary university for a play and to learn about the therapeutic riding program, the nj performing arts center to see the nj symphony orchestra, hunterdon hills playhouse, and numerous lunch trips to local restaurants. Shopping bus routes continued to run 2 days per week for residents who need a ride to local stores, and transportation was also provided to local hospitals and medical offices. Residents participate in about 40 resident groups and organizations that are available on campus such as the art club, chip and putt golf, cornhole, shuffleboard, mutual support group, needleworkers group, pickleball, choir, and book discussion group, to name a few. A new writer's group was also formed during the year. The ever-popular bocce league continued their saturday morning lessons, and an end-of-season tournament against the administration. The hiking group also hosted several walking tours of the trails on the heath village campus. Centenary university's chapter of delta xi nu multicultural sorority inc provided several "advice for device" information sessions to assist residents with their electronic devices.volunteers who reside on-campus continued the efforts of the facility's thrift store known as the friendship store, which generated proceeds of $6,522 to support the benevolent care fund. An additional $5,737 net proceeds were generated from the volunteer-run gift shop. Other resident volunteers also raised $1,875 from two bake sales and a gnome sale, and $1,933 by holding a farmer's market throughout the growing season as vegetables were harvested from the community garden. All net proceeds benefited the benevolent care fund.while the residential healthcare and skilled nursing units have their own dining room facilities, all residents and guests of the community have the option of dining in the main dining room for a restaurant style dining option, the grill room f

Financial Efficiency

• Mission deployment rate: 91.5%; rating input score 92
• Program expense ratio: 85.9%; rating input score 86
• Fundraising efficiency: $28.6 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • 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: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th 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: Fail
  • CEO compensation review process: Pass
  • 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%; rating input score 12; 12th percentile among comparable filings
• Total-asset coverage ratio: 2.51; rating input score 69; 69th percentile among comparable filings
• Liabilities to assets ratio: 0.5; rating input score 28; 28th percentile among comparable filings
• Officer compensation ratio: 5%; rating input score 50; 50th percentile among comparable filings

Growth

• Program expense growth: 5.6% per year; rating input score 100; 46th percentile among comparable filings
• Revenue growth: 2.8% per year; rating input score 100; 24th percentile among comparable filings
• Asset growth: 7.8% per year; rating input score 100; 54th percentile among comparable filings