Hooverwood Living

What it reported doing in 2024

Originally established as the jewish shelter house in 1902 and later the borinstein home in 1929, hooverwood has been offering care and services to the elderly in our community for more than a century. Hooverwood's tradition of healthcare excellence continues today with an organizational mission that emphasizes: dignity, spirituality, community and vision. As a non-profit organization certified by medicare and medicaid, hooverwood specializes in short-term rehabilitation following a hospitalization, skilled nursing care, long-term care, memory and dementia care, and medical specialties including geriatrics, and geriatric psychiatry. Hooverwood's department of rehabilitation services provides physical, occupational, and speech therapies on an inpatient and outpatient basis. Hooverwood's interdisciplinary team of nurses, nursing assistants, social workers, dietitians, activity staff and therapists work together to coordinate residents' overall care and provide skilled care, encouragement and support in order for our residents to reach their highest potential. The hooverwood team takes great pride in the impressive number of residents who graduate from their rehabilitation program and return home to their prior level of function and independence. Hooverwood's geriatric psychiatrist provides evaluation and treatment of a variety of mental health issues and assists the residents as they cope with changes and challenges in their lives. Hooverwood is proud to have served 271 residents in 2024. Our shalom sanctuary center for elder abuse works with local adult protective services, police, and emergency rooms to provide a safe environment for the most vulnerable members of our community. This is the only program like it in Indiana and is filling a much-needed service in caring for the elderly in our community. It served 9 residents in 2024.

Financial Efficiency

• Mission deployment rate: 86.5%; rating input score 87
• Program expense ratio: 88%; rating input score 88
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • 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: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 1.9%; rating input score 42; 42nd percentile among comparable filings
• Total-asset coverage ratio: 2.04; rating input score 62; 62nd percentile among comparable filings
• Liabilities to assets ratio: 0.28; rating input score 49; 49th percentile among comparable filings
• Officer compensation ratio: 5.2%; rating input score 49; 49th percentile among comparable filings

Growth

• Program expense growth: 10.8% per year; rating input score 100; 73rd percentile among comparable filings
• Revenue growth: 6.4% per year; rating input score 100; 55th percentile among comparable filings
• Asset growth: 12.8% per year; rating input score 100; 75th percentile among comparable filings