WesleyLife

What it reported doing in 2024

The partnership of wesleylife and genesis health system, both non-profit organizations and market leaders, strengthens a common mission to pave the way for older adults in the quad cities of Iowa and Illinois to lead healthy, fulfilling lives that focus on health and well-being. The name "wellspire" was derived from the combination of "well and "inspire, and the selection of the two words was deliberate in terms of the goals of the organization, formed in 2019.wesleylife brought three-quarters of a century of expertise serving older adults to genesis health system's existing senior living portfolio, creating an opportunity for the joined organizations to serve older-adult markets in both states through a comprehensive health and well-being network. Since the partnership's inception, wellspire has:- developed the summit of bettendorf, the market's largest continuing-care community - redeveloped westwing place in dewitt, Iowa, as fieldstone of dewitt, a campus offering various levels of living including, for the first time locally, ccdi memory care- brought the concept of person-directed living to all other communities formerly under the auspices of genesis health system, including illini restorative care in silvis, Illinois wellspire communities offer the following levels of living:- long-term healthcare: compassionate, enriching 24/7 care for individuals with acute as well as chronic health conditions- memory care, including ccdi care: the only ccdi memory-care offering in the clinton county market, and one of the few in scott county- short-term rehabilitation: rehabilitative care for individuals in the greater community as well as on our campuses. Includes physical, occupational, and speech therapy. - sheltered care: care for individuals who need assistance not commensurate with skilled care, but are not able to live entirely independently- assisted living: care and services for people who wish to live as independently as possible, with assistance as needed and desired- independent living: intended for residents who desire and are able to live fully independently, independent living offers an attractive, safe living environment free from the maintenance requirements of homeownership, with plentiful social amenities designed to enhance connections and prevent isolationcollectively, our communities offer 180 health-center beds that are dually licensed for medicare and medicaid. Thirty to 35 percent of the beds are utilized for long-term healthcare with medicaid as the primary payer source, with an additional 40 medicare/managed care beds for short-term rehabilitation. Our level-of-living breakdown by community is:- summit: 105 il, 16 almc, 17 al, 40 long-term care - fieldstone: 21 al, 16 ccdi, 54 dually licensed long-term care/short-term rehabilitation- illini restorative care: currently at 102 licensed beds and 18 sheltered care. Wellspire llc sold the illini restorative care on 12/1/2024 so services ended on 12/1/2024 for that facility. Our communities benefit the greater communities in which they are located in the following ways:- offer space for civic, church, and philanthropic groups, such as knights of columbus, boards of directors of local businesses, the red hat society, audubon society, book clubs, bible/religious-study groups, and garden clubs- provide social activities to which members of the greater community are invited and included, such as neighborhood halloween/trick-or-treat parties, christmas/holiday gatherings, concerts, art exhibits, farmers' markets, gatherings to celebrate local events, humane society adoption events, dietary/nutrition educational events, real-estate education events, and more.- provide safe spaces to enhance physical well-being, such as fitness centers, outdoor walking trails, etc. Our wellahead program welcomes non-residents to our fitness pavilions with the hope of helping them live healthier lives. - provide support groups for challenges such as alzheimer's and parkinson's diseases op

Financial Efficiency

• Mission deployment rate: 88.5%; rating input score 89
• Program expense ratio: 83.7%; rating input score 84
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • 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: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -2.8%; rating input score 21; 21st percentile among comparable filings
• Total-asset coverage ratio: 2.51; rating input score 69; 69th percentile among comparable filings
• Liabilities to assets ratio: 0.88; rating input score 11; 11th percentile among comparable filings
• Officer compensation ratio: 1.3%; rating input score 83; 83rd percentile among comparable filings

Growth

• Program expense growth: 8.7% per year; rating input score 100; 65th percentile among comparable filings
• Revenue growth: 19% per year; rating input score 100; 91st percentile among comparable filings
• Asset growth: -6.6% per year; rating input score 0; 2nd percentile among comparable filings