Progressive Eldercare Services Inc

Nonprofit profile at a glance

EIN
273040964
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Magnolia, AR, USA
Phone
9054275007
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$835,086
Expenses
$552,015
Assets
$260,734
Liabilities
$335,024

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

Leadership & pay

5 people listed

Executive titles in this filing

  • W JARRED FRANKLIN ESQ (PRESIDENT)

People named in this filing

  • W JARRED FRANKLIN ESQ (PRESIDENT)
  • DENISE MCCLAIN (DIRECTOR)
  • JIM BADAMI ESQ (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The organization provides affordable skilled nursing and rehabilitative care to ill, infirm, medically disabled and elderly individuals in a non-traditional long-term care environment utilizing the "culture change or "person-centered" care model.

What it reported doing in 2024

Progressive eldercare services ("progressive") acts to facilitate the operation of long-term care facilities with the "culture change" policy. This model is maintained through progressive's supervision and control over its affiliated organizations through: (1) employment of the president/administrator of each organization;(2)election of the board of directors of each organization; (3) ability to dissolve each organization if necessary; (4) establish and amend the admission policy of each organization; and (5) establish and amend the "culture change" policy of each organization. Progressive employs the administrators of each organization and leases such administrators to facilities for the amount of expense incurred by progressive in employing each such person. The combined organization served over 308 residents in 2023.

Operating model

Revenue model
Affiliate-supported. 93% of the money available for current operations came from contributions from related organizations.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 57
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 33.9%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 1.28; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -12.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -3.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 8 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 26 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.