Ltc(eddy) Inc

Nonprofit profile at a glance

EIN
222564710
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Troy, NY, USA
Phone
5182713382
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,161,634
Expenses
$3,301,114
Assets
$27,584,108
Liabilities
$7,954

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

Leadership & pay

24 people listed

Executive titles in this filing

  • STEVEN HANKS MD (DIRECTOR; PRESIDENT & CEO)

Highest reported compensation

  • DANIEL ISACKSEN (DIRECTOR; TRINITY HEALTH CFO): $2,827,147 total reported compensation
  • STEVEN HANKS MD (DIRECTOR; PRESIDENT & CEO): $1,744,842 total reported compensation
  • THOMAS ROBERT (VP, CFO & TREAS - NY REG THR 11/24): $1,123,341 total reported compensation

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

Overview

Mission

We, st. Peter's health partners and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities. Ltc (eddy) is a member of st. Peter's health partners and trinity health.

What it reported doing in 2024

Ltc (eddy) provides management and support to affiliated tax-exempt organizations that operate senior living communities, which include facilities for independent living, enriched housing/assisted living, memory care, and skilled nursing. Please visit our website for additional information: www.eddyseniorliving.com

Operating model

Revenue model
Affiliate-supported. 71% of the money available for current operations came from contributions from related organizations.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 76
  • Accountability: 68
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: Yes; rating input score 100

Accountability

  • Independent voting board: 60%; rating input score 60; 9th 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: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -52.7%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 8.36; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 34%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.8% of spending went to programs
  • Governance: 9 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.3M in reported program spending
  • Leadership: top reported pay $2.8M · 24 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 330 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 4/100.