South Cove Manor Nursing and Rehabilitation Center Qalicb Inc

Nonprofit profile at a glance

EIN
352419744
IRS 990 coverage
2013–2019
Forms available
Form 990 2019, Form 990-N 2012
Location
Quincy, MA, USA
Phone
6174230590
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Nursing Services (General)

Official website

Reported finances

Revenue
$1,013,112
Expenses
$1,216,686
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • MAY CHIN RN (VICE PRESIDENT)
  • WILLIAM GRAVES (PRESIDENT & CEO)

Highest reported compensation

  • WILLIAM GRAVES (PRESIDENT & CEO): $251,836 total reported compensation
  • LI CHEN (ADMINISTRATOR): $169,502 total reported compensation
  • SCOTT HANSON (DIRECTOR OF FINANCE): $148,091 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

South cove manor nursing and rehabilitation center qalicb, inc.'s mission is to engage in planning, acquiring, financing, constructing, developing, owning, maintaining and leasing to south cove manor nursing & rehabilitation center, inc., a nursing and rehabilitation facility.

What it reported doing in 2019

Nursing & rehabilitation facility support services: development, planning, design, financing, and leasing services to support a related non-profit organization, south cove manor nursing & rehabilitation center, inc.effective october 31, 2019, the organization merged into a related organization, south cove manor nursing and rehabilitation center, inc.

Operating model

Revenue model
Earned-program. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 89
  • Accountability: 100
  • Sustainability: 9
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -20.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 14.8% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: -12.5% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.7% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $252K · 22 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2013 to 2019
  • Contacts: How to reach this organization
  • Related organizations: 5 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 — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.