Serenity Suites Senior Living at Wabasso

Nonprofit profile at a glance

EIN
473550648
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Wabasso, MN, USA
Phone
5073422300
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$1,058,381
Expenses
$964,013
Assets
$1,766,583
Liabilities
$2,327,330

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

Leadership & pay

5 people listed

Executive titles in this filing

  • ANNE BARBER (EXECUTIVE DIRECTOR)
  • CATHERINE SCHWARZ (PRESIDENT)
  • CURTIS TROST (VICE PRESIDENT)

Highest reported compensation

  • ANNE BARBER (EXECUTIVE DIRECTOR): $103,138 total reported compensation

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

Overview

Mission

Serenity Suites provides a home with independent living in a compassionate and safe environment where all are treated with dignity and respect.

What it reported doing in 2024

Serenity Suites Senior Living at Wabasso operates a 15-unit senior living facility in Wabasso, MN. This building allows for seniors in the community to remain in their community to receive Home Care and Assisted Living services. At year-end, all 15 units were occupied.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 70
  • Accountability: 90
  • Sustainability: 51
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72%; rating input score 72
  • Program expense ratio: 79%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 8.9%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 1.32; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 11.8% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: -4.8% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 72% of revenue deployed · 79% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $762K in reported program spending
  • Leadership: top reported pay $103K · 5 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.