Hermitage Capital and Reserve Corporation

Nonprofit profile at a glance

EIN
462641284
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Glen Allen, VA, USA
Phone
8044748700
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$1,244,314
Expenses
$0
Assets
$51,856,747
Liabilities
$4,758,230

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

Leadership & pay

4 people listed

Executive titles in this filing

  • CHRISTOPHER P HENDERSON (PRESIDENT)

Highest reported compensation

  • CHRISTOPHER P HENDERSON (PRESIDENT): $785,552 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Supporting pinnacle living and windsormeade williamsburg in their mission of enriching life's journey by providing housing, health care, financial security and related services for seniors.

What it reported doing in 2024

Hermitage capital and reserve corporation is a 509(a)(3) supporting organization established april 23, 2013, to accept, receive, manage and distribute real and personal property to assist in the accomplishment of the purposes of (i) Virginia united methodist homes, inc. Doing business as pinnacle living, a Virginia non-stock corporation, public charity and non-private foundation under sections 501(c)(3) and 509(a) of the internal revenue code, and (ii) Virginia united methodist homes of williamsburg, inc. Doing business as windsormeade williamsburg, a public charity and non-private foundation under sections 501(c)(3) and 509(a) of the internal revenue code. Pinnacle living's purpose is enriching life's journey for residents living in independent living, assisted living, memory support and health care in the pinnacle living communities of cedarfield, hermitage richmond, hermitage roanoke, hermitage three chopt, hermitage deep run, and windsormeade williamsburg, as well as older persons in the broader community. Working with the support of the hermitage capital and reserve corporation, pinnacle living serves a wide range of socially and economically diverse residents through a person-centered focus on each individual's physical, emotional, recreational, social and religious needs. With a rich legacy of over seventy-five years, pinnacle living has built a longstanding reputation of providing excellent, compassionate support and services in a faith-based environment. Pinnacle living provides (directly and through third party arrangements) for the health care of residents in household and neighborhood settings with nursing services, assistance with activities of daily living, memory support, physical therapy and related health services.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 80
  • Sustainability: 5
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • 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: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th 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: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -7.1% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 21.2% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 3 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $786K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.