Sessions Village 202

Nonprofit profile at a glance

EIN
571165819
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Cheney, WA, USA
Phone
5092356196
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$198,493
Expenses
$244,995
Assets
$1,352,333
Liabilities
$2,280,956

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Megan Schmidt (President)

Highest reported compensation

  • Ashley Healey Oct - Feb (ED/Admin): $153,621 total reported compensation

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

Overview

Mission

To provide low-cost rental housing to the elderly, including related facilities and services which are specifically designed to meet the physical, social and psychological needs of the aged and to contribute to their health, security, happiness and usefulness in longer living.

What it reported doing in 2024

Sessions village 202 was established to provide low-income housing to the elderly in association with the department of housing and urban development (hud).

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 most voting board members are independent. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 66
  • Accountability: 100
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.4%; rating input score 93
  • Program expense ratio: 75.8%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -23.4%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 5.52; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 1.69; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: -3.1% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 93.4% of revenue deployed · 75.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $186K in reported program spending
  • Leadership: top reported pay $154K · 7 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 24 of 24 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: 2 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.

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

  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.