Mill Pond Gables Senior Living Llc

Nonprofit profile at a glance

EIN
475425470
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Richfield, MN, USA
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$887,974
Expenses
$753,535
Assets
$4,370,793
Liabilities
$4,067,354

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

Leadership & pay

7 people listed

Executive titles in this filing

  • DENYSE ETHRIDGE (EXECUTIVE DIRECTOR & COO)
  • JON FLETCHER (President)

Highest reported compensation

  • DENYSE ETHRIDGE (EXECUTIVE DIRECTOR & COO): $176,347 total reported compensation
  • CHRIS SCHMIDT (VP FINANCE): $163,081 total reported compensation

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

Overview

Mission

Care for the elderly

What it reported doing in 2024

Mill pond gables provides a quality living environment for persons age 55 and older at affordable rates.amenities include heated underground parking, laundry facilities, a screened in porch, community gardens and an outdoor patio.

Operating model

Revenue model
Earned-program. 99% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 60
  • Accountability: 86
  • Sustainability: 66
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.3%; rating input score 60
  • Program expense ratio: 71.4%; rating input score 71
  • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.1%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 5.8; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 60.3% of revenue deployed · 71.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $538K in reported program spending
  • Leadership: top reported pay $176K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 8 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.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.