Masonicare at Ashlar Village

Nonprofit profile at a glance

EIN
061050830
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Wallingford, CT, USA
Phone
2036796400
Rating
75
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$35,082,683
Expenses
$29,099,083
Assets
$122,362,105
Liabilities
$72,766,341

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

Leadership & pay

25 people listed

Executive titles in this filing

  • JON-PAUL VENOIT PRESIDENT (AND CEO, ASSISTANT SECRETARY)

Highest reported compensation

  • JON-PAUL VENOIT PRESIDENT (AND CEO, ASSISTANT SECRETARY): $855,894 total reported compensation
  • DAVID LAWLOR CFO ASSISTANT (TREASURER (EFFECTIVE 01/01/25)): $829,570 total reported compensation
  • STEVEN D BEAULIEU CFO (ASSISTANT TREASURER, (THRU 12/31/24)): $261,119 total reported compensation

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

Overview

Mission

Masonicare at ashlar village, an affiliate of masonicare, is a not-for-profit continuing care retirement community, providing both independent and assisted living to people aged 55 and over. Following the traditions of masonry, we are committed to creating the highest quality of life for our residents by fostering an environment of respect, independence and dignity.masonicare at ashlar village is dedicated to maintaining the well being, independence and quality of life for all residents. We consistently strive to be recognized as the leading continuing care retirement community in the region. Masonicare at ashlar village envisions a continuing partnership with masonicare and other related resources in meeting the needs of our community - body, mind and spirit.

What it reported doing in 2024

Masonicare at ashlar village is a continuing care retirement and assisted living community. The retirement community consists of 243 apartments, 72 cottages and 40 villas. The occupancy percentage for the fiscal year ending september 2025 was 91.6%. The assisted living facility (pond ridge) consists of 134 units. The occupancy percentage for the fiscal year ending september 2025 was 89.2%. Masonicare at ashlar village provides healthcare services which promote health, wellness and a high quality of life for all residents in an independent and/or assisted living environment.

Operating model

Revenue model
Earned-program. 91% 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 - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 68
  • Accountability: 91
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 70
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: $0.17 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th 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: 89.8%; rating input score 90; 20th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 17.1%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 4.21; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 89% of spending went to programs
  • Governance: 16 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $25.9M in reported program spending
  • Leadership: top reported pay $856K · 25 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.7M reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 20 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 — Financial Efficiency: Fundraising efficiency scored 1/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.