Scandinavian Home Inc

Nonprofit profile at a glance

EIN
050262584
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cranston, RI, USA
Phone
4014611433
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities

Official website

Reported finances

Revenue
$6,433,638
Expenses
$7,870,554
Assets
$6,562,486
Liabilities
$579,720

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JOEL JOHNSON (PRESIDENT)
  • PAUL SWANSON (VICE PRESIDENT)
  • COLETTE SILVERMAN (EXECUTIVE DIRECTOR (THRU 12/24))

Highest reported compensation

  • COLETTE SILVERMAN (EXECUTIVE DIRECTOR (THRU 12/24)): $165,830 total reported compensation
  • CONSTANCE JAQUITH (DIRECTOR OF FINANCE): $154,274 total reported compensation
  • SUZANNE CESANA (ADMINISTRATOR): $147,220 total reported compensation

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

Overview

Mission

Scandinavian home, inc. Operated a 74 bed nursing facility through february 2024 at which time 50 beds were temporarily de-licensed and the remaining 24 beds were temporarily de-licensed in november 2024.

What it reported doing in 2024

Through november 2024, scandinavian home, inc. Operated a 74 bed nursing facility. In 2024 the board of directors approved the temporary de-licensing of all beds which is in effect through november 2025.

Operating model

Revenue model
Earned-program. 92% 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 23
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.5%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • 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: 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -22.3%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.83; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $6.6M in reported program spending
  • Leadership: top reported pay $166K · 17 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.

  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.