Sylvan Retreat Apartments Inc

Nonprofit profile at a glance

EIN
233085236
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lancaster, PA, USA
Phone
7172911911
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$326,618
Expenses
$416,854
Assets
$2,087,725
Liabilities
$3,951,953

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ZOE BRACCI (PRESIDENT)
  • LARRY REICH (VICE PRESIDENT)

Highest reported compensation

  • SHARLENE WOODRUFF (HDC REPRESENTATIVE DIRECTO): $186,781 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 construct and operate a rental housing facility for low-income, elderly tenants as defined by hud regulations and guidelines.

What it reported doing in 2024

The organization was created for the purpose of constructing and operating a 40-unit elderly apartment complex in lancaster, Pennsylvania.

Operating model

Revenue model
Earned-program. 91% 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 program spending has grown recently. 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: 87
  • Transparency & Controls: 56
  • Accountability: 18
  • Sustainability: 32
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.6%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: Limited
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -27.6%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 5.01; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 1.89; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 1.6% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: -3.4% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.6% of spending went to programs
  • Governance: 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $395K in reported program spending
  • Leadership: top reported pay $187K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.