Shepherd Oak Apartments Inc

Nonprofit profile at a glance

EIN
411773664
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Sauk Rapids, MN, USA
Phone
3202526525
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$396,732
Expenses
$456,961
Assets
$1,342,529
Liabilities
$2,631,581

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

Leadership & pay

10 people listed

Executive titles in this filing

  • MICHAEL STORDAHL (PRESIDENT/CEO/ADMINISTRATOR)

Highest reported compensation

  • MICHAEL STORDAHL (PRESIDENT/CEO/ADMINISTRATOR): $223,565 total reported compensation
  • KRISTA MARTINI (CFO): $167,691 total reported compensation
  • RHONDA POHL (VP OF HUMAN RESOURCES): $129,462 total reported compensation

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

Overview

Mission

Own and operate an apartment for older adults and handicapped persons with housing facilities and services designed to meet their physical, social and psychological needs and to promote their health, security, and happiness in longer living.

What it reported doing in 2024

Shepherd oak apartments, inc. Owns and operates a 42 unit apartment complex for the purpose of providing older and handicapped adults with housing facilities. The project is operated under section 202 of the national housing act and regulated by the u.s. Department of housing and urban development with respect to rental charges and operating methods. The project also has a section 8 project rental assistance contract agreement with the u.s. Department of housing and urban development, providing payments for the apartments units leased to eligible low-income, elderly tenants pursuant to section 8 of the u.s. Housing act of 1937. Services are designed to meet their physical, social and psychological needs and to promote their health, security, and happiness in longer living through a christian perspective. Shepherd oak apartments, inc. Is a part of a 30 acre senior living campus in sauk rapids, Minnesota which includes skilled nursing facility care, sub-acute/short term rehabilitation services, congregate dining, skilled home care services, assisted living services, memory care services, and independent living apartments. Most of the buildings are connected through enclosed links allowing tenants to freely move between buildings to meet friends or enjoy a walk inside avoiding harsh Minnesota winter conditions.

Operating model

Revenue model
Earned-program. 91% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.8%; rating input score 77
  • Program expense ratio: 68%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -15.2%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 2.94; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 1.96; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 15.7%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 1.1% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 76.8% of revenue deployed · 68% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $311K in reported program spending
  • Leadership: top reported pay $224K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.