Maine Life Care Retirement Community Inc

Nonprofit profile at a glance

EIN
010496258
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Scarborough, ME, USA
Phone
2078838700
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$36,977,131
Expenses
$33,618,198
Assets
$190,562,104
Liabilities
$201,874,524

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

Leadership & pay

25 people listed

Executive titles in this filing

  • Philip Jean (CEO)

Highest reported compensation

  • Philip Jean (CEO): $485,016 total reported compensation
  • Richard Ashley (Finance Director): $262,977 total reported compensation
  • Leanne Fiet (COO): $258,873 total reported compensation

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

Overview

Mission

Maine Life Care Retirement Community (dba Piper Shores) offers a vibrant retirement living lifestyle that enriches residents by providing a continuum of the highest quality of care and service. Piper Shores will help all residents realize their optimum potential by cultivating a rich diversity of life experience that connects to innovative programs and services.

What it reported doing in 2024

Maine Life Care provides residents with a safe and secure home community, providing for independent living needs and continued health care services for the remainder of their lives. It consists of 188 independent living units, 64 independent living cottages, 50 assisted living units, 40 skilled nursing beds, and common areas.

Operating model

Revenue model
Earned-program. 95% 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. 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: 60
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.3%; rating input score 66
  • Program expense ratio: 71%; rating input score 71
  • 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: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 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: 9.1%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 5.67; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 1.06; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 4.8%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 66.3% of revenue deployed · 71% of spending went to programs
  • Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $23.9M in reported program spending
  • Leadership: top reported pay $485K · 25 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.6M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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 — Sustainability: Liabilities to assets ratio scored 5/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.