Westminster Village Muncie Inc

What it reported doing in 2024

There have been approximately 557 residents and patients served in this fiscal year ended 6/30/2025.HOUSING - The Village provides residential facilities that are designed to meet the special needs of the elderly including: fully carpeted apartments, corridors and lounges; maintenance free living; bathrooms equipped with emergency call systems and grab-bars; elevators for wheelchair use; on-site commercial services including sundry shop, beauty shop and doctor's office; other amenities include three self-serve laundry rooms, a chapel, library, seven dining rooms, fitness center and various lounges throughout the facility.HEALTHCARE - The Village provides for the physical, social and spiritual well-being of residents that include: 24 hour nursing staff in residential, assisted living, memory care assisted living and skilled health care center; free wellness/vital checks; scheduled physical therapy, occupational therapy and speech therapy; exercise classes; various social, educational and informative activities; prescription delivery services; bible study and vespers services; 24 hour security to feel comfortable and safe; bus transportation to outside appointments, shopping, activities, etc.FINANCIAL SECURITY - Payment for services provided is critical to the long-term operation and financial stability of the facility. When appropriate, the Village provides for continuing care of the Village residents when their financial resources to pay have been reduced due to circumstances beyond their control. During the current year, the Village provided $71,296 of direct charity care write-offs. The Village also provides residents access to shredding services (secure document disposal) to reduce the risk of identity theft and loss of privacy and/or property.SOCIAL ACCOUNTABILITY - In addition to providing Housing, Healthcare, and Financial Security to the Village residents, as a not-for-profit organization, the Village also provides or sponsors programs and services for the benefit of the greater community. Local Not-for-profit organization sponsorships and underwriting include: East central nursing collaborative-Lifestream and Indiana state Department of Health - host site for meetingsWomen In Business Unlimited - host site of quarterly meetingsHealthy community alliance partner organizationVarious senior clubs - host siteSponsor Legacy Award Chamber GalaSponsor Muncie symphony holiday concertSponsor Muncie Civic Theatre ProgramThe Residents' Association of Westminster Village is provided space by Westminster Village to further their purpose and activities. Some of the association activities include: 1)providing tuition assistance grants to encourage Westminster Village employees to continue their education at accredited institutions of higher learning, 2)operating a resale shop offering items to employees, residents and visitors at an affordable price, 3)maintaining a memorial garden to honor deceased residents who lived at Westminster Village, 4)conducting the Sunday vespers service, 5)providing activities to help support and encourage those who live in our community, and 6)offering financial assistance to other charitable organizations.As the only not-for-profit continuing care retirement community in the area and the only not-for-profit facility in Delaware County, we have taken the lead role in organizing, promoting and coordinating a monthly health facilities administrators meeting for 30 long-term care and assisted living facilities. The purpose of the monthly administrators meeting is to educate and inform administrators and other staff members about current issues facing all facilities. These meetings are intended to improve the quality of life for all residents of all participating facilities.

Financial Efficiency

• Mission deployment rate: 98%; rating input score 98
• Program expense ratio: 90.2%; rating input score 90
• 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: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • 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: -7.9%; rating input score 12; 12th percentile among comparable filings
• Total-asset coverage ratio: 1.14; rating input score 41; 41st percentile among comparable filings
• Liabilities to assets ratio: 0.81; rating input score 13; 13th percentile among comparable filings
• Officer compensation ratio: 1.9%; rating input score 78; 78th percentile among comparable filings

Growth

• Program expense growth: 2.9% per year; rating input score 100; 25th percentile among comparable filings
• Revenue growth: 3% per year; rating input score 100; 26th percentile among comparable filings
• Asset growth: 3% per year; rating input score 100; 23rd percentile among comparable filings