Southcoast Long-term Care Properties Inc
Nonprofit profile at a glance
- EIN
- 042984542
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023
- Location
- New Bedford, MA, USA
- Phone
- 5089732905
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Nursing, Convalescent Facilities
Reported finances
- Revenue
- $953,152
- Expenses
- $721,833
- Assets
- $28,468,118
- Liabilities
- $28,236,799
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- DAVID MCCREADY (EX-OFFICIO, PRESIDENT)
- RAYFORD KRUGER MD (FORMER PRESIDENT & CEO)
Highest reported compensation
- DAVID MCCREADY (EX-OFFICIO, PRESIDENT): $1,798,618 total reported compensation
- RAYFORD KRUGER MD (FORMER PRESIDENT & CEO): $1,349,066 total reported compensation
- WADE BROUGHMAN (TREASURER/ EVP & CFO (UNTIL 12/24)): $1,133,497 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 benefit, perform the functions of, or to carry out the purposes of southcoast long-term care services, inc., a Massachusetts non-profit organization, by owning and operating real property and a health care facility used by southcoast long-term care services, inc. For a long-term care business providing health care services to patients in the southcoast health service area, and services related thereto.
What it reported doing in 2024
Leasing services - owns and leases a 142-bed related non-profit nursing facility known as alden court nursing care & rehabilitation center to southcoast long-term care services, inc., a related entity.
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
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 67
- Accountability: 79
- Sustainability: 67
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 75.7%; rating input score 76
- Program expense ratio: 100%; rating input score 100
- 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: Yes; rating input score 100
Accountability
- Independent voting board: 80%; rating input score 80; 18th 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: 24.3%; rating input score 80; 80th percentile among comparable filings
- Total-asset coverage ratio: 39.44; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.99; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 46.1%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 85.7% per year; rating input score 100; 99th percentile among comparable filings
- Asset growth: 85.7% per year; rating input score 100; 99th percentile among comparable filings
Details
- Where the money goes: 75.7% of revenue deployed · 100% of spending went to programs
- Governance: 4 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $722K in reported program spending
- Leadership: top reported pay $1.8M · 9 people listed · 0 of 6 pay-setting controls reported
- Consistency: 22 of 22 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Contacts: How to reach this organization
- Related organizations: 10 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.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.