Shorefront Geriatric Inc

Nonprofit profile at a glance

EIN
113072153
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
7184917208
Rating confidence
Limited
Sector
Nursing, Convalescent Facilities

Reported finances

Revenue
$0
Expenses
$2,652
Assets
$492,955
Liabilities
$477,652

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

Leadership & pay

7 people listed

Executive titles in this filing

  • David Wagner (CEO, PRESIDENT)

Highest reported compensation

  • David Wagner (CEO, PRESIDENT): $1,655,965 total reported compensation
  • David Koschitzki (Chief Financial Officer): $863,294 total reported compensation
  • Christina Van Vort (Assistant Secretary): $828,857 total reported compensation

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

Overview

Mission

Shorefront was a 360-bed nursing facility. Shorefront sold its operations, land, building and equipment on december 11, 2014, at which time shorefront ceased operations.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 79
  • Sustainability: 29
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 80%; rating input score 80; 25th 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: Limited
  • Total-asset coverage ratio: 185.88; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 14,119.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -36.4% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -23.9% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -25.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.7M · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 14 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 — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.