Jerome Home

Nonprofit profile at a glance

EIN
060646690
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New Britain, CT, USA
Phone
8602293707
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$27,769,214
Expenses
$25,694,658
Assets
$68,406,835
Liabilities
$22,079,999

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ALYSSA PAGAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TINA RICHARDSON (JEROME HOME ADMINISTRATOR): $184,161 total reported compensation
  • REBECCA ELLIOTT (DIRECTOR OF NURSING): $159,036 total reported compensation
  • PATRICE ELEVELD (ARBOR ROSE SALSA): $151,745 total reported compensation

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

Overview

Mission

Jerome home provides its residents an environment designed to promote independence, wellness and dignity in an atmosphere of warmth, caring and respect for its residents.

What it reported doing in 2024

The jerome home offers a full range of high quality, moderately priced retirement housing, health care facilities and services designed to promote the maximum personal independence, health, safety, self-esteem and dignity of older people and their families. The home is dedicated to creating individual care needs with consistency, warmth and respect. Residents are encouraged to take part in community life and to pursue individual interests, as well. Care is provided by friendly, professional staff who are dedicated to the well-being, privacy and dignity of the residents. The jerome home is a healthcare facility consisting of 120 beds (94 skilled nursing and 26 residential care) for aged patients as well as a 85 unit assisted living facility.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.1%; rating input score 83
  • Program expense ratio: 85.6%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: 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: 7.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 2.66; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 83.1% of revenue deployed · 85.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $22M in reported program spending
  • Leadership: top reported pay $184K · 13 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $530K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.