Silver Key Senior Services
Accredited Charity
Meets Standards
Accredited Charity
Meets Standards
Standards Legend
- Meets Standards
- Standards Not Met
- Did Not Disclose
- Review In Progress
- Unable to Verify
Standards For Charity Accountability
Governance
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Board Oversight
Oversight of Operations and Staff: Standard 1
Description
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fundraising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.The organization meets this standard.
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Board Size
Number of Board Members: Standard 2
Description
Soliciting organizations shall have a board of directors with a minimum of five voting members.The organization meets this standard.
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Board Meetings
Frequency and Attendance of Board Meetings: Standard 3
Description
An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.The organization meets this standard.
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Board Compensation
Compensated Board Members: Standard 4
Description
Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.The organization meets this standard.
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Conflict of Interest
Conflict of Interest: Standard 5
Description
No transaction(s) in which any board or staff members have material conflicting interests with the charity resulting from any relationship or business affiliation. Factors that will be considered when concluding whether or not a related party transaction constitutes a conflict of interest and if such a conflict is material, include, but are not limited to: any arm's length procedures established by the charity; the size of the transaction relative to like expenses of the charity; whether the interested party participated in the board vote on the transaction; if competitive bids were sought and whether the transaction is one-time, recurring or ongoing.The organization meets this standard.
Measuring Effectiveness
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Effectiveness Policy
Board Policy on Effectiveness: Standard 6
Description
Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.The organization meets this standard.
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Effectiveness Report
Board Approval of Written Report on Effectiveness: Standard 7
Description
Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.The organization meets this standard.
Finances
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Program Expenses
Program Service Expense Ratio: Standard 8
Description
Spend at least 65% of its total expenses on program activities.The organization meets this standard.
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Fundraising Expenses
Fundraising Expense Ratio: Standard 9
Description
Spending should be no more than 35% of related contributions on fundraising. Related contributions include donations, legacies, and other gifts received as a result of fundraising efforts.The organization meets this standard.
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Accumulating Funds
Ending Net Assets: Standard 10
Description
Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.The organization meets this standard.
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Audit Report
Financial Statements: Standard 11
Description
Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $1 million, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $1 million, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.The organization meets this standard.
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Detailed Expense Breakdown
Detailed Functional Breakdown of Expenses: Standard 12
Description
Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fundraising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.The organization meets this standard.
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Accurate Expense Reporting
Accuracy of Expenses in Financial Statements: Standard 13
Description
Accurately report the charity's expenses, including any joint cost allocations, in its financial statements. For example, audited or unaudited statements which inaccurately claim zero fundraising expenses or otherwise understate the amount a charity spends on fundraising, and/or overstate the amount it spends on programs will not meet this standard.The organization meets this standard.
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Budget Plan
Budget: Standard 14
Description
Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fundraising, and administration.The organization meets this standard.
Fundraising & Info
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Truthful Materials
Misleading Appeals: Standard 15
Description
Have solicitations and informational materials, distributed by any means, that are accurate, truthful and not misleading, both in whole and in part. Appeals that omit a clear description of program(s) for which contributions are sought will not meet this standard. A charity should also be able to substantiate that the timing and nature of its expenditures are in accordance with what is stated, expressed, or implied in the charity's solicitations.The organization meets this standard.
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Annual Report
Annual Report: Standard 16
Description
Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fundraising and administrative categories as in the financial statements, and (iii) ending net assets.The organization meets this standard.
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Website Disclosures
Web Site Disclosures: Standard 17
Description
Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.The organization meets this standard.
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Donor Privacy
Privacy for Written Appeals & Internet Privacy: Standard 18
Description
Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.The organization meets this standard.
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Cause Marketing Disclosures
Cause Related Marketing: Standard 19
Description
Clearly disclose how the charity benefits from the sale of products or services (i.e., cause-related marketing) that state or imply that a charity will benefit from a consumer sale or transaction. Such promotions should disclose, at the point of solicitation: (a) the actual or anticipated portion of the purchase price that will benefit the charity (e.g., 5 cents will be contributed to abc charity for every xyz company product sold), (b) the duration of the campaign (e.g., the month of October), (c) any maximum or guaranteed minimum contribution amount (e.g., up to a maximum of $200,000).The organization meets this standard.
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Complaints
Complaints: Standard 20
Description
Respond promptly to and act on complaints brought to its attention by the BBB Wise Giving Alliance and/or local Better Business Bureaus about fundraising practices, privacy policy violations and/or other issues.The organization meets this standard.
Conclusion
Silver Key Senior Services meets the 20 Standards for Charity Accountability.
Purpose
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Year, State Incorporated
1970, CO
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Stated Purpose
Silver Key serves in partnership with our stakeholders to support quality of life for seniors - allowing them the choice of safely aging in place with dignity and independence.
Programs
Silver Key Senior Services has proudly served the Pikes Peak region's aging community for 53 years. As a respected and efficient service provider, Silver Key has continuously adapted to meet the increasing demands of a rapidly growing older adult population comprising 26% of its local community. Silver Key's comprehensive assistance and quality wraparound services allow seniors to thrive, ensuring there is no "wrong door" for accessing its support. Silver Key’s mission is "to serve in partnership with our stakeholders to support a healthy quality of life for seniors, allowing them to age safely with dignity and independence. Silver Key ensures that the value, worth, and needs of all seniors are identified and honored." Silver Key serves in partnership with our stakeholders to support a healthy quality of life for seniors, allowing them to age safely with dignity and independence. This mission has served to guide the work of this nonprofit organization to improve the lives of older adults for over five decades in El Paso County. Silver Key was founded by visionary volunteers in 1970 through an urgent need to mitigate the impacts of isolation and loneliness for older adults residing in care facilities. Within a year, the office was established with one staff member plus a few passionate volunteers. The Board of Directors was incorporated as a 501(c)3 nonprofit organization in 1971. From these humble beginnings, Silver Key launched a Nursing Home Volunteer Program and soon broadened the organization’s mission to include seniors who desired to remain in their homes as they aged. Through planned program growth and intentional diverse underwriting, development, grants, and philanthropy, Silver Key has steadily and strategically expanded to deliver a multitude of wraparound services to address the needs of the most vulnerable senior population in El Paso County – more than 10,000 annually. Silver Key is the area Meals on Wheels provider, delivering nutritious meals and a welcome visit to low-income seniors through funding support from grants and community donations. Silver Key Reserve & Ride provides door-through-door ADA accessible transportation for medical appointments, shopping, group meals, social activities, recreation trips, and more. Reserve & Ride transportation accommodates wheelchairs, walkers, those needing a lift device, oxygen, and other special needs. Other core services include Home Delivered Meals, numerous Connection Café sites across El Paso County, Behavioral and Mental Health care, Companionship, Veteran and Veteran spouse assistance, and the largest senior food pantry in southern Colorado. Silver Key's food pantry distributes government food assistance to help seniors who qualify for federal assistance with groceries each month through CSFP (Commodity Supplemental Food Program) and TEFAP (The Emergency Food Assistance Program). These food boxes allow seniors to stretch their food dollars further by supplementing their diets with a variety of foods. In addition, the Silver Key Thrift Stores offer gently used items. Donations and purchases help support Silver Key's mission. With a wide selection of good quality clothing and household items, from vintage to recently recycled, the thrift store is open to everyone. Our Murray location also features a specialty Home Medical Equipment Department for clean, used wheelchairs, canes, and other mobility aids at the 1605 S. Murray Blvd., Colorado Springs, CO 80916 location. Donations are accepted year-round and may be dropped off at either Silver Key Thrift Store location at 1605 S. Murray Blvd., Colorado Springs, CO 80916 and 755 S Highway 105, Palmer Lake, CO 80133. Silver Key at Tri-Lakes Senior Center, formerly known as the Tri¤Lakes Silver Alliance Senior Center, has been providing exciting programs and activities to area seniors who have a zest for fun and learning. As the older adult population is growing, our services are in high demand. People choose to come to our center to stay active, make new friends, get involved in our community, and participate in the special programs that are offered. We invite seniors and/or their families to come check us out anytime. Silver Key at Tri-Lakes Senior Center is meeting in the Grace Best Education Center located at 66 Jefferson St, Monument, CO 80132. Silver Key is led by two Boards of Directors (Operations and Foundation), engaging over 400 trained volunteers and employing 70 full and part-time staff. Over the last decade, the organization outgrew its prior headquarters, formerly located on the west side of Colorado Springs. Silver Key's strategic relocation in 2016 to the underserved southeast area of Colorado Springs was a significant and exceptional move, following two years of study and careful planning. Guided through a comprehensive needs study, independent capital campaign feasibility study, and an extensive site search, this campus relocation required the organization to embark on a $5.5 million capital campaign to purchase and renovate a former 68,000 square foot, six-acre office complex to create our new multi-functional campus. The new headquarters allows the organization to thrive and grow to meet the increasing needs of aging adults across our community and provides multiple collaborating partner organizations with venue space for meetings, events, retreats, and administrative offices.
For the year ended June 30, 2023, Silver Key Senior Services program expenses were:
| Programs | $7,089,700 |
| Program Expenses | $7,089,700 |
Governance & Staff
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CEO
Jason DeaBueno, President/Executive Director
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Compensation*
¤128,267.00
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Board Chair
David Lord, Community Volunteer
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Chair's Profession / Business Affiliation
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Board Size
9
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Paid Staff Size
75
Governance
* Compensation includes annual salary and, if applicable, benefit plans, expense accounts and other allowances.
Fundraising
Method(s) Used:
Direct mail appeals, Invitations to fundraising events, Print advertisements (newspapers, magazines, etc.), Grant proposals, Internet, Planned giving arrangements, Appeals via Social Media (Facebook, etc.).
% of Related Contributions on Fundraising: 18.93%
Tax Status
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
Financial
The following information is based on Silver Key Senior Services's Audited financial statements - consolidated for the fiscal year ending June 30, 2023
| Source of Funds | |
|---|---|
| Contract Services | $2,795,967 |
| Other Income | $1,882,949 |
| In-Kind Contributions | $1,488,595 |
| Contributions and Grants | $1,155,659 |
| Investment Income | $1,037,137 |
| Program Service Fees | $805,866 |
| Change in Value of Beneficial Interest in Charitable Trusts | $243,360 |
| Contributions from Foundations | $12,029 |
| Total Income | $9,421,562 |
Breakdown of Expenses
| Total Income | $9,421,562 |
| Total Expenses: | $8,252,453 |
| Program Expenses | $7,089,700 |
| Fundraising Expenses | $502,788 |
| Administrative Expenses | $659,965 |
| Other Expenses | $0 |
| Income in Excess of Expenses | $1,169,109 |
| Beginning Net Assets | $19,489,928 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $20,659,037 |
| Total Liabilities | $1,675,868 |
| Total Assets | $22,334,905 |
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