Spanish Cove Housing Authority

Nonprofit profile at a glance

EIN
731536662
IRS 990 coverage
2009–2012
Forms available
Form 990 2012
Location
Yukon, OK, USA
Phone
4053541901
Rating confidence
Limited
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$11,332,119
Expenses
$10,306,378
Assets
$18,247,826
Liabilities
$15,848,983

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

8 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Adult senior retirement community offering amentities and programs for every phase of retirement, from independent living to home health care, assisted living, and nursing care.

What it reported doing in 2012

The organization is a public trust that operates a continuing care retirement community with a vision to insure a variety of quality life care services for persons 62 years of age and older that promotes an enjoyable independent secure lifestyle. The community consists of 16 cottages, 189 apartments, a 60-bed assisted living center and a 47-bed nursing center. Services include nursing care, meals, housekeeping, laundry, maintenances of apartments, activities and transportation. The costs incurred to provide these services are considered program costs.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 70th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.1%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 1.77; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.87; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.1% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8M in reported program spending
  • Leadership: top reported pay $137K · 8 people listed
  • Highest-paid contractors: 2 contractors listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2009 to 2012
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.