Sayre Village Phase Iii Inc

Nonprofit profile at a glance

EIN
611088950
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Lexington, KY, USA
Phone
8592719001
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities
Affiliation
Christianity

Official website

Reported finances

Revenue
$6,191,551
Expenses
$5,880,123
Assets
$16,037,806
Liabilities
$13,393,044

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

Leadership & pay

21 people listed

Executive titles in this filing

  • BENJAMIN BUCKLEY (PAST PRESIDENT)
  • JEFF YEARY (VICE PRESIDENT)
  • DEE HERNDON (PRESIDENT)
  • KAREN VENIS (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • KAREN VENIS (CHIEF EXECUTIVE OFFICER): $304,060 total reported compensation
  • ELISE HINCHMAN (NON-VOTING BOARD MEMBER): $168,508 total reported compensation
  • NEIL BEDWELL (FORMER CHIEF FNANCIAL OFFICER): $161,003 total reported compensation

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

Overview

Mission

A non-profit senior living community dedicated to providing quality housing, rehabilitative services and long-term nursing care reflecting christian compassion for everyone.

What it reported doing in 2024

Operation of an apartment complex for elderly and handicapped individuals. There are 117 apartments.

Operating model

Revenue model
Earned-program. 96% 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. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 56
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.8%; rating input score 73
  • Program expense ratio: 77.9%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 2.73; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.84; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0.3%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 9.9% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 72.8% of revenue deployed · 77.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.6M in reported program spending
  • Leadership: top reported pay $304K · 21 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $438K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • Review — Sustainability: Operating margin scored 51/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.