Tockwotton Home

Nonprofit profile at a glance

EIN
050258881
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
East Providence, RI, USA
Phone
4012725280
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$18,679,333
Expenses
$17,491,938
Assets
$56,819,031
Liabilities
$43,039,642

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

Leadership & pay

18 people listed

Executive titles in this filing

  • KEVIN MCKAY (EXEC. DIR./PRESIDENT)

Highest reported compensation

  • KEVIN MCKAY (EXEC. DIR./PRESIDENT): $348,449 total reported compensation
  • ZENITA FERNANDES (CNA): $194,489 total reported compensation
  • JOYCE NALLEN (DIRECTOR OF FINANCE): $155,238 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Tockwotton home provides a variety of services to older adults and their families--including nursing home care and assisted living residences. Towards that end, we collaborate with others who share our vision.our mission is to enable older adults to enjoy life to the fullest and to share with families and friends the responsibility for their care. An essential part of our mission is to serve a broad spectrum of the community, including those whose financial resources are limited. Tockwotton home seeks to achieve a level of quality in everything we do. In our everyday business, the human dignity and quality of life of those we serve are our highest priorities.

What it reported doing in 2024

With 104 apartments, tockwotton on the waterfront's assisted living residences operate under the names, the river's edge and the courtyard memory care. The river's edge is an assisted living community where the individual's independence, well-being and happiness is the first priority. The operations opened in 1856 and moved to a newly built state of the art facility in january 2013. The community offers all the comforts of home by combining elegance with the feel of a comfortable seaside cottage. Amenities included in the monthly rent are scheduled transportation, 3 meals a day, all program offerings, weekly housekeeping and changing of linens, all utilities, 24 hour security and emergency call system, wi-fi, use of laundry and supplies, and priority admission to tockwotton skilled nursing center. River's edge also makes available to the residents packages that include personal care, medication packages, personal safety pendants, cable tv/internet/phone, personal laundry, rehabilitation, nutritional counseling and special diets. The courtyard memory care at tockwotton on the waterfront is an assisted living residence that specializes in care for those with alzheimer's disease and other forms of memory loss. The courtyard provides a safe and nurturing environment where highly trained caregivers focus on what is meaningful to each resident. Besides the amenities mentioned above, the courtyard also provides an ongoing assessment of the resident's health needs, periodic wellness checks by staff nurses and medication administration.

Operating model

Revenue model
Earned-program. 95% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.2%; rating input score 79
  • Program expense ratio: 86.9%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 66th 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: 6.4%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 3.25; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 79.2% of revenue deployed · 86.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $15.2M in reported program spending
  • Leadership: top reported pay $348K · 18 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.

  • Review — Sustainability: Operating margin scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.