Horizon House

What it reported doing in 2024

Horizon house has a long-standing commitment to social accountability. Residents, staff and the entire organization give time and financial support to those in need. This support is offered to those living in horizon house and in the broader community. Horizon house, a not-for-profit retirement community was founded in 1961, becoming the first retirement community in downtown seattle. Founding members were civic leaders and members of the united church of christ who established a commitment to social justice, community outreach and social accountability which continues to this day. Horizon house is a continuing care retirement community with 377 independent living apartments and 90 assisted living health care apartments. There are approximately 480 residents at horizon house and a staff of 201. Comprehensive health services include wellness/exercise, rehabilitation therapy, home care, and assisted and nursing care in addition to educational classes and many social and cultural events.horizon house is governed by a 10 to 15-member board of trustees who serves without compensation. The board is comprised of men and women with professional expertise in the leadership and operational areas of horizon house. A three-member executive team is responsible for the administrative leadership of horizon house.examples of community outreach and social accountabilitysome highlights from 2024 include:- charitable care for residents unable to pay in the amount of $471,440 enabling them to remain at horizon house and eliminating the need for government assistance and subsidies. Distribution of $4,038 to employees in need of assistance. These distributions are funded by our generous donors consisting of residents, families, vendors, and staff.- donations to community not-for-profit groups in honor of deceased horizon house residents for a total of $950.- horizon house is a member of various non-profit associations including the council of health & human services ministries of the united church of christ, leadingage, first hill improvement association, and the jim ellis freeway park association. A community grants program provides funding to organizations that support programs and services to older adults - grants and donations for their charitable work in the broader community in the total amount of $50,000.- volunteer hours donated by horizon house residents to community non-profit include sewing & knitting for harborview and plymouth housing and friends of the library book cart. Due to covid-19 and safety for our residents many volunteering services were cancelled.2024 total donated dollars:$ 475,478 in charitable dollars (resident care and employee assistance)$ 50,950 (community grants to organizations, memorial gifts)$ 526,428 total donated dollars

Financial Efficiency

• Mission deployment rate: 72.7%; rating input score 73
• Program expense ratio: 82.3%; rating input score 82
• Fundraising efficiency: $2.51 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • 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: 87.1%; rating input score 87; 19th percentile among comparable filings
• 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: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 11%; rating input score 70; 70th percentile among comparable filings
• Total-asset coverage ratio: 6.48; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.77; rating input score 15; 15th percentile among comparable filings
• Officer compensation ratio: 5%; rating input score 50; 50th percentile among comparable filings

Growth

• Program expense growth: 2.7% per year; rating input score 100; 24th percentile among comparable filings
• Revenue growth: 3.2% per year; rating input score 100; 27th percentile among comparable filings
• Asset growth: 3.9% per year; rating input score 100; 29th percentile among comparable filings