Springvale Terrace Inc C/o Seabury Resources for Aging

Nonprofit profile at a glance

EIN
300185120
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2024146310
Rating confidence
Limited
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$0
Expenses
$700,741
Assets
$3,682,302
Liabilities
$12,317,223

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

Leadership & pay

28 people listed

Executive titles in this filing

  • CRAIG MCCULLOUGH (PRESIDENT)
  • MARCUS BRAXTON (VICE PRESIDENT)
  • DAWN QUATTLEBAUM (CEO)

Highest reported compensation

  • DAWN QUATTLEBAUM (CEO): $225,300 total reported compensation
  • BELINDA DAVIS (MANAGING DIRECTOR OF FINANCE): $162,094 total reported compensation
  • REGINALD RAY (COO): $114,887 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 provide affordable housing and related resident services to the elderly under section 232 of the national housing act.

What it reported doing in 2024

Springvale terrace, inc. Was organized on april 23, 2003 under the provisions of the state of Maryland for the purpose of purchasing and operating housing and related facilities for the elderly. The organization was financed through the u.s. Department of housing and urban development under section 232 of the national affordable housing act and consists of 146 units. In addition to the rental housing operations, the entity operates care services programs for an additional fee that include congregate housing services certified by the Maryland department of aging and assisted living services licensed by the Maryland department of health and mental hygiene. From april 2024, the organization stopped leasing units to tenants. In 2025 the organization no longer operated as an affordable housing facility and is in the process of terminating to a low income housing tax credit partnership.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

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

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 60
  • Accountability: 77
  • Sustainability: 17
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 93.4%; rating input score 93
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 5.25; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 3.34; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -4.8% per year; rating input score 0; 38th percentile among comparable filings
  • Revenue growth: -6.3% per year; rating input score 0; 40th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: 93.4% of spending went to programs
  • Governance: 19 of 19 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $655K in reported program spending
  • Leadership: top reported pay $225K · 28 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.