Legacy Senior Services

Nonprofit profile at a glance

EIN
800015864
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
Minnetonka, MN, USA
Phone
7635375700
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities

Reported finances

Revenue
$13,238,738
Expenses
$13,045,970
Assets
$9,846,663
Liabilities
$7,566,093

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Eric Lund (President/Treasurer)

Highest reported compensation

  • Tina Moore (Director of Nursing): $106,500 total reported compensation
  • Eric Lund (President/Treasurer): $12,000 total reported compensation
  • Roger Green (Secretary): $4,800 total reported compensation

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

Overview

Mission

Legacy Senior Services' mission is to create communities of dignity, passion, and respect for adults and to partner with other not for profit organizations across the country. Through its efforts, Legacy Senior Services seeks to provide broad continuums of care to promote the health, mind, and spirit of those we serve.

What it reported doing in 2024

Legacy Senior Services is organized to own and operate facilities with the intent of housing elderly and other vulnerable persons and meeting their healthcare, residential, physical and social needs. Legacy Senior Services is the sole member of four other limited liability companies which operate as skilled nursing, assisted living, and/or independent living facilities as follows: -LSS of Frazee, LLC, a 74-bed skilled nursing facility, a 19 unit assisted living facility, and an 8 unit independent living facility located in Frazee, Minnesota and a 15 unit assisted living facility located in Vergas, Minnesota. -LSS of Marycrest, LLC, a 138 unit assisted living facility located in Denver, Colorado. All of the skilled nursing facilities are Medicare and Medicaid certified.

Operating model

Revenue model
Earned-program. 97% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 39
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.5%; rating input score 78
  • Program expense ratio: 78.7%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 1.5%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: -11.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -7.8% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -3.8% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 77.5% of revenue deployed · 78.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $10.3M in reported program spending
  • Leadership: top reported pay $106K · 10 people listed
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 3 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.
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.