Hover Senior Living Community

Nonprofit profile at a glance

EIN
840890971
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Longmont, CO, USA
Phone
3037729292
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$12,613,498
Expenses
$11,713,999
Assets
$23,056,923
Liabilities
$17,782,618

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

Leadership & pay

15 people listed

Executive titles in this filing

  • CRAIG LUZINSKI (CEO)

Highest reported compensation

  • CRAIG LUZINSKI (CEO): $208,644 total reported compensation
  • SHANNON BUXMANN (NURSING HOME): $150,165 total reported compensation
  • MCCARTHY BOYD (FINANCE DIRE): $146,512 total reported compensation

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

Overview

Mission

Hover senior living community provides facilities and services for the benefit of the general public. The organization operates an assisted living residence for the elderly and handicapped and oversees the continuing development of a retirement campus.

What it reported doing in 2024

Hover senior living community is a continuing care retirement community (ccrc) providing housing and health services for persons fifty-five years of age and older. The organization operates a one-hundred and twenty-one- unit independent living residence, a fifty-one unit assisted living residence, and a forty-eight bed skilled nursing/short-term rehabilitation facility.

Operating model

Revenue model
Earned-program. 89% 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. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 70
  • Accountability: 86
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.8%; rating input score 75
  • Program expense ratio: 80.8%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • 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: 6 of 9 controls in place; rating input score 67
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.1%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 1.97; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 18.6% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 14.2% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 15.8% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 74.8% of revenue deployed · 80.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $9.5M in reported program spending
  • Leadership: top reported pay $209K · 15 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.