Silver Key Senior Services Inc
Nonprofit profile at a glance
- EIN
- 237109922
- IRS 990 coverage
- 2010–2023
- Forms available
- Form 990 2023, Form 990-T 2023
- Location
- Colorado Springs, CO, USA
- Phone
- 7198842300
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Senior Centers
Reported finances
- Revenue
- $12,666,255
- Expenses
- $7,985,186
- Assets
- $19,380,888
- Liabilities
- $686,915
Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- JASON DEABUENO (PRESIDENT & CEO)
Highest reported compensation
- JASON DEABUENO (PRESIDENT & CEO): $154,129 total reported compensation
- VALERIE ANDERS (CFO): $118,949 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Silver key senior services supports a healthy quality of life for seniors by providing a comprehensive wraparound model of nutrition, transportation, case management, social connection, and education services. (expanded mission on schedule o)in partnership with stakeholders and volunteers, silver key empowers seniors to age in place safely, with dignity and independence, while addressing both immediate and long-term needs through holistic and compassionate care.
What it reported doing in 2023
Apartments: in 2024, silver key proudly advanced its commitment to affordable senior housing by initiating construction on the new silver key apartments. This project marked a significant milestone in expanding safe, supportive living options for older adults in our community. Through dedicated collaboration with contractors, property managers, and community partners, construction remained on schedule, and the lease-up process progressed steadily throughout 2024. By december 2024, all 50 units were fully leased, successfully meeting our goal to provide quality housing for low-income seniors, including prioritized support for veteran residents. This achievement reflects silver key's long-term vision and commitment to aging with dignity.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - 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 the available information about grant readiness federal audit leaves an important question unanswered.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 88
- Accountability: 86
- Sustainability: 81
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 61.1%; rating input score 61
- Program expense ratio: 90.6%; rating input score 91
- Fundraising efficiency: $34.63 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 37%; rating input score 92; 92nd percentile among comparable filings
- Total-asset coverage ratio: 2.43; rating input score 69; 69th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 87; 87th percentile among comparable filings
- Officer compensation ratio: 3.4%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 9.6% per year; rating input score 100; 70th percentile among comparable filings
- Revenue growth: 10.8% per year; rating input score 100; 77th percentile among comparable filings
- Asset growth: 7.7% per year; rating input score 100; 53rd percentile among comparable filings
Details
- Where the money goes: 61.1% of revenue deployed · 90.6% of spending went to programs
- Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
- Programs: 5 filed program accomplishments · $7.2M in reported program spending
- Leadership: top reported pay $154K · 11 people listed · 3 of 6 pay-setting controls reported
- Consistency: 33 of 33 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 14 filing years from 2010 to 2023
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
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: 2 of 8 not reported.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.