Masonicare at Mystic
Nonprofit profile at a glance
- EIN
- 464656008
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Wallingford, CT, USA
- Phone
- 8604152500
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $729,375
- Expenses
- $1,888,842
- Assets
- $29,108,729
- Liabilities
- $27,207,632
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
22 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 mystic inc (mam) was formed on jan. 8, 2014 as a Connecticut non-stock 501(c)(3) corporation for the purpose of serving as an owner and as the manager of senior living at masonicare, llc (slm). Mam has received notification from the internal revenue service (dated march 25, 2015) that the corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and that the corporation is a public charity under code section 509(a)(2). Slm was formed as a Connecticut limited liability company for the purpose of acquiring property in order to provide assisted living (including memory care assisted living) and independent living to the elderly. On the book basis for the fiscal year ended september 30, 2024 mam owns 88.95% of slm with the remaining 11.05% owned by mystic senior living associates, llc. The 179 unit assisted living facility in mystic, Connecticut, opened in november 2016.
What it reported doing in 2024
Masonicare at mystic, inc. Provides management services to senior living by masonicare, llc (slm). Slm is an affiliate that is jointly owned with mystic senior living associates, llc. Slm provides assisted living (including memory care assisted living) and independent living to the elderly. The facility includes 94 independent living apartments. The occupancy percentage for the fiscal year ending september 2025 was 99.20%. In addition, the facility has 85 assisted living apartments. The occupancy percentage for the fiscal year ending september 2025 was 92.55%
Operating model
- Revenue model
- Earned-program. 100% 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 most voting board members are independent. 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: 76
- Transparency & Controls: 60
- Accountability: 91
- Sustainability: 30
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 61.4%; rating input score 61
- 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Scored; rating input score 0
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: -159%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 15.41; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
- Officer compensation ratio: 26.3%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 11.2% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 23.1% per year; rating input score 100; 88th percentile among comparable filings
- Asset growth: 3.9% per year; rating input score 100; 34th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 61.4% of spending went to programs
- Governance: 16 of 16 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.2M in reported program spending
- Leadership: top reported pay $856K · 22 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $1.3M reported
- Consistency: 13 of 13 current checks pass
- Schedules: 6 filed schedules · includes executive pay and related organizations
- Filing history: 12 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 3 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 — Sustainability: Operating margin scored 1/100.
- High — Transparency & Controls: Related-party transparency scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Liabilities to assets ratio scored 7/100.
- High — Sustainability: Officer compensation ratio scored 9/100.