San Simeon By The Sound Center For Nursing And Rehabilitation

San Simeon By The Sound Center For Nursing And Rehabilitation consistently operates at a deficit, with liabilities exceeding assets in recent years.

EIN: 201222517 · Greenport, NY · NTEE: E91 · Updated: 2026-03-28

$17.7MRevenue

$6.0MAssets

45/100Mission Score (Fair)

E91

About San Simeon By The Sound Center For Nursing And Rehabilitation

San Simeon By The Sound Center For Nursing And Rehabilitation (EIN: 201222517) is a nonprofit organization based in Greenport, NY, classified under NTEE code E91. The organization reported total revenue of $17.7M and total assets of $6.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of San Simeon By The Sound Center For Nursing And Rehabilitation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

San Simeon By The Sound Center For Nursing And Rehabilitation demonstrates a consistent operational deficit in recent years, with expenses exceeding revenue in 8 out of the last 10 reported periods. For instance, in 2023, expenses were $18,992,808 against revenues of $17,209,738, indicating a significant shortfall. This trend suggests potential financial instability or reliance on reserves to cover operational costs. The organization's assets have also shown a declining trend, from a high of $10,147,368 in 2020 to $5,454,119 in 2023, while liabilities have remained substantial, often exceeding assets in recent filings, such as $6,874,595 in liabilities against $5,454,119 in assets in 2023. This negative net asset position raises concerns about long-term solvency.

Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess. However, the consistent operational losses suggest that current revenue streams are insufficient to cover overall expenditures. The absence of reported officer compensation across all filings indicates either a volunteer leadership structure or that compensation is reported under other expense categories, which could impact transparency if not clearly disclosed elsewhere. The organization's NTEE code E91 (Nursing Facilities) suggests a focus on direct service delivery, which typically implies a high proportion of program spending.

Transparency is generally good given the availability of 13 years of 990 filings. However, the lack of reported officer compensation on the 990s could be a point of concern for some donors seeking full disclosure of leadership remuneration. The consistent financial deficits and declining asset base, coupled with increasing liabilities, warrant closer examination for potential donors or stakeholders.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates San Simeon By The Sound Center For Nursing And Rehabilitation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, San Simeon By The Sound Center For Nursing And Rehabilitation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The IRS 990 filings consistently report 0% officer compensation across all available periods, suggesting either a volunteer leadership model or that executive compensation is categorized differently and not explicitly disclosed as 'officer compensation' on these forms.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of San Simeon By The Sound Center For Nursing And Rehabilitation's IRS 990 filings:

Consistent operational deficits (8 out of 10 years, including $1.78M in 2023).
Liabilities exceeding assets in recent years (e.g., $6.87M liabilities vs. $5.45M assets in 2023).
Declining asset base (from $10.1M in 2020 to $5.4M in 2023).
Negative net asset position, indicating financial instability.

Strengths

The following positive indicators were identified for San Simeon By The Sound Center For Nursing And Rehabilitation:

Extensive filing history (13 filings) demonstrating transparency in reporting.
NTEE code E91 (Nursing Facilities) indicates a clear focus on direct service delivery in a critical sector.

Frequently Asked Questions about San Simeon By The Sound Center For Nursing And Rehabilitation

Is San Simeon By The Sound Center For Nursing And Rehabilitation financially sustainable?

The organization has consistently reported expenses exceeding revenue in 8 out of the last 10 years, including a $1.78 million deficit in 2023 ($17,209,738 revenue vs. $18,992,808 expenses). This trend, coupled with declining assets and increasing liabilities, raises concerns about long-term financial sustainability.

Why are liabilities consistently higher than assets in recent years?

In 2023, liabilities were $6,874,595 while assets were $5,454,119, indicating a negative net asset position. This suggests the organization's debts and obligations exceed the value of its owned resources, which is a significant financial risk.

What is the reason for the consistent operational deficits?

The filings show a pattern where expenses frequently outpace revenue. For example, in 2022, expenses were $17,705,542 against $14,603,732 in revenue. Without a detailed breakdown of expense categories, it's difficult to pinpoint the exact causes, but it indicates that current revenue streams are not sufficient to cover operational costs.

How does the organization cover its operational shortfalls?

Given the consistent deficits, the organization likely covers shortfalls by drawing down on reserves (as suggested by declining assets from $10.1M in 2020 to $5.4M in 2023) or through increased borrowing, contributing to the rising liabilities.

Filing History

IRS 990 filing history for San Simeon By The Sound Center For Nursing And Rehabilitation showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), San Simeon By The Sound Center For Nursing And Rehabilitation's revenue has grown by 34.3%, moving from $12.8M to $17.2M. Total assets decreased by 49.6% over the same period, from $10.8M to $5.5M. Total functional expenses rose by 47.5%, from $12.9M to $19.0M. In its most recent filing year (2023), San Simeon By The Sound Center For Nursing And Rehabilitation reported a deficit of $1.8M, with expenses exceeding revenue. The organization holds $6.9M in liabilities against $5.5M in assets (debt-to-asset ratio: 126.0%), resulting in net assets of $-1,420,476.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$17.2M	$19.0M	$5.5M	$6.9M	—	—
2022	$14.6M	$17.7M	$7.9M	$7.4M	—	View 990
2021	$16.5M	$16.5M	$9.4M	$5.8M	—	View 990
2020	$19.0M	$17.1M	$10.1M	$6.6M	—	View 990
2019	$16.8M	$17.5M	$7.2M	$5.5M	—	View 990
2018	$15.5M	$16.7M	$7.8M	$5.4M	—	View 990
2017	$14.9M	$16.1M	$8.1M	$4.5M	—	View 990
2016	$15.3M	$16.0M	$8.8M	$4.0M	—	View 990
2015	$16.8M	$16.0M	$9.6M	$4.0M	—	View 990
2014	$15.0M	$15.7M	$9.9M	$5.1M	—	View 990
2013	$15.0M	$15.1M	$11.0M	$5.6M	—	View 990
2012	$13.6M	$13.6M	$11.0M	$5.5M	—	View 990
2011	$12.8M	$12.9M	$10.8M	$5.3M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $17.2M, expenses of $19.0M, and assets of $5.5M (revenue +17.8% year-over-year).
2022: Revenue of $14.6M, expenses of $17.7M, and assets of $7.9M (revenue -11.3% year-over-year).
2021: Revenue of $16.5M, expenses of $16.5M, and assets of $9.4M (revenue -13.3% year-over-year).
2020: Revenue of $19.0M, expenses of $17.1M, and assets of $10.1M (revenue +13.0% year-over-year).
2019: Revenue of $16.8M, expenses of $17.5M, and assets of $7.2M (revenue +8.7% year-over-year).
2018: Revenue of $15.5M, expenses of $16.7M, and assets of $7.8M (revenue +4.1% year-over-year).
2017: Revenue of $14.9M, expenses of $16.1M, and assets of $8.1M (revenue -2.8% year-over-year).
2016: Revenue of $15.3M, expenses of $16.0M, and assets of $8.8M (revenue -9.2% year-over-year).
2015: Revenue of $16.8M, expenses of $16.0M, and assets of $9.6M (revenue +11.9% year-over-year).
2014: Revenue of $15.0M, expenses of $15.7M, and assets of $9.9M (revenue +0.5% year-over-year).
2013: Revenue of $15.0M, expenses of $15.1M, and assets of $11.0M (revenue +10.1% year-over-year).
2012: Revenue of $13.6M, expenses of $13.6M, and assets of $11.0M (revenue +6.1% year-over-year).
2011: Revenue of $12.8M, expenses of $12.9M, and assets of $10.8M.

Data Sources and Methodology

This transparency report for San Simeon By The Sound Center For Nursing And Rehabilitation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.