Mill Ridge Commons

Nonprofit profile at a glance

EIN
363545892
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Roseville, MN, USA
Phone
6516316162
Rating
52
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,125,347
Expenses
$834,549
Assets
$7,173,578
Liabilities
$3,186,615

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

Leadership & pay

6 people listed

Executive titles in this filing

  • DAN LINDH (BOARD CHAIR/CEO)
  • JONATHAN FLETCHER (BOARD CHAIR/CEO)

Highest reported compensation

  • DAN LINDH (BOARD CHAIR/CEO): $1,023,333 total reported compensation
  • MARK MEYER (SEC./TREAS./CFO): $528,586 total reported compensation
  • JONATHAN FLETCHER (BOARD CHAIR/CEO): $428,022 total reported compensation

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

Overview

Mission

The mission of the organization is to honor god by enriching the lives and touching the hearts of older adults.

What it reported doing in 2024

The organization consists of 56 independent senior living apartments located in cambridge, Minnesota.

Operating model

Revenue model
Earned-program. 97% 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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 69
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.3%; rating input score 52
  • Program expense ratio: 72.5%; rating input score 72
  • 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: 0%; rating input score 0; 5th 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: 25.8%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 8.6; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 18.1%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 52.3% of revenue deployed · 72.5% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $605K in reported program spending
  • Leadership: top reported pay $1M · 6 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: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.