The Park Danforth

Nonprofit profile at a glance

EIN
010373396
IRS 990 coverage
2009–2013
Forms available
Form 990 2013
Location
Portland, ME, USA
Phone
2077977710
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$8,180,077
Expenses
$1,833,847
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • Catherine Lamson (President)
  • Michael Bevilacqua (Vice President)
  • Denise M Vachon (CEO)

Highest reported compensation

  • Denise M Vachon (CEO): $139,141 total reported compensation
  • Lisa Noonan (COO): $106,890 total reported compensation
  • Robert Moore (CFO): $101,762 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Park Danforth's mission is to provide housing and services that enhance a person's quality of life, respect personal dignity, and accommodate the need for privacy and self-determination. In doing so, we aim to respond to the individual's changing needs brought about through aging.

What it reported doing in 2013

The Park-Danforth provides high quality, dignified, safe and affordable housing (70 independent living apartments) to those whose means are defined as "very low income" or "extremely low income" in accordance with federal eligibility guidelines for the HUD Section 8 program.In providing Section 8 housing, The Park-Danforth, in partnership with the U.S. Department of HUD, provides housing to those who would otherwise be at financial risk due to the high cost of housing and utilities. These apartments are specially designed to optimally meet the needs of those who are aging in place. As these residents age, by virtue of their residency, they are given priority for transfers to the assisted living program at such time as a higher level of care is needed. This priority and transfer is financially made possible by Home for the Aged, another 501(c)(3) entity, co-located at the 777 Stevens Avenue, Portland, Maine site.

Operating model

Revenue model
Other-operating. 84% of the money available for current operations came from other operating 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 35
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 49
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 17.1%; rating input score 17
  • Program expense ratio: 76.1%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 65th 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: 77.6%; rating input score 98; 98th 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: 8.6%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 45.8% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: -27% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 17.1% of revenue deployed · 76.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $139K · 15 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules
  • Filing history: 4 filing years from 2009 to 2013
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 17/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.