Welty Homes

What it reported doing in 2024

The welty retirement apartments continued to provide a housing alternative, with increased security, comfort and specialized services, for the elderly who wish to be relieved of the burden of maintaining a free standing residence, but who do not have a desire or a need for custodial type of care offered at the welty home, allowing them to love independently and age (in place) to avoid the common situation where the elderly decline in physical and emotional health by being isolated in a single family home which is not physically suited to their needs and which they are physically unable to maintain. The welty retirement apartments provide a proper residential environment for the aged with special support services such as a secure building equipped with fire alarm, smoke detection, sprinkler system, elevator, central call system, grab bars and other specialized equipment and facilities for the aged. In addition, at no extra cost, the welty apartments provide a limited level of medical supervision by a registered nurse, 24 hour coverage by personnel available to respond to the call system, all at a location convenient to transportation, shopping, hospitals and churches. Services also include transportation services, cleaning services and meal services to the residents of the apartments. If an applicant or a resident is unable to pay the full amount of rental charges, welty retirement apartments, lc has adopted a charitable subsidy policy to assist such applicants or residents. The welty retirement apartments, lc also continued to operate 23 apartments (the braddock apartments) for the elderly. The braddock apartments continued to provide cost effective housing to its residents as well as expanded services such as transportation services, housecleaning services, dietary services and limited nursing services. Priority in admission is given to applicants who have a spouse or other loved one residing at good shepherd nursing home. Due to the support of the diocese of wheeling-charleston and the capital support of the clara welty trust, the welty home for the aged, inc. Has been able to continue to expand its charitable mission for the aged of Ohio county West Virginia without incurring substantial debt or operating deficits, while providing its employees with good working conditions, competitive wages and one of the highest levels of health care and other employee benefits in the geriatric care industry in West Virginia.

Financial Efficiency

• Mission deployment rate: 87.9%; rating input score 88
• Program expense ratio: 92.3%; rating input score 92
• 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 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • 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: 2.6%; rating input score 45; 45th percentile among comparable filings
• Total-asset coverage ratio: 3.16; rating input score 76; 76th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
• Officer compensation ratio: 3.9%; rating input score 60; 60th percentile among comparable filings

Growth

• Program expense growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
• Revenue growth: 5% per year; rating input score 100; 43rd percentile among comparable filings
• Asset growth: 9.3% per year; rating input score 100; 61st percentile among comparable filings