Home for the Aged (EIN 010211512) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1881

Legal Domicile

Principal Officer

Lorri Sommer

Phone

2077977710

Tax Period

2023-07-01 to 2024-06-30

Home for the Aged is a 501(c)(3) with EIN 010211512, based in Portland, ME. Founded in 1881, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $8,847,471 in total revenue and $9,315,230 in total expenses, with net assets of $5,346,448.

Mission

To provide high quality housing and services to those 60 years of age and older.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $26,770

Program Service Revenue $8,684,938

Investment Income $135,763

Other Revenue $0

TOTAL REVENUE $8,847,471

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,882,067

Fundraising Expenses $0

Program Expenses $7,719,087

Other Expenses $5,433,163

TOTAL EXPENSES $9,315,230

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,847,471	$8,364,698	+0.1%
Expenses	$9,315,230	$9,082,391	+0.0%
Net Income	$-467,759	$-717,693	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

127

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$295,986

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jason Straetz	President	0.50	Officer Director	$0	$0	$0
Victoria Powers	1st Vice President	0.50	Officer Director	$0	$0	$0
Janice McCormick	Treasurer	0.50	Officer Director	$0	$0	$0
Melissa Murphy	Secretary	0.50	Officer Director	$0	$0	$0
Kathleen Coyne	Trustee	0.50	Director	$0	$0	$0
Robert Davis	Trustee	0.50	Director	$0	$0	$0
Joseph Gray	Trustee	0.50	Director	$0	$0	$0
Jennifer Gordon Hutchins	Trustee	0.50	Director	$0	$0	$0
Jeannine Lefevre	Trustee	0.50	Director	$0	$0	$0
Michael McGovern	Trustee	0.50	Director	$0	$0	$0
Thomas Michael Meuser	Trustee	0.50	Director	$0	$0	$0
Roberta Wright	Past 2nd Vice President	0.50	Officer Director	$0	$0	$0
Matthew Holbrook	Past Trustee	0.50	Director	$0	$0	$0
Lorri Sommer	CEO	40.00	Officer	$151,359	$24,961	$176,320
Bruce Rutter	Director of Finance	40.00	Officer	$104,332	$15,334	$119,666
Denise M Vachon	Former CEO	0.00		$129,516	$11,100	$140,616

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$8,847,471	$9,315,230	$32,783,055	$-467,759
2023	$8,364,698	$9,082,391	$33,166,139	$-717,693
2022	$7,432,134	$8,586,934	$34,196,065	$-1,154,800
2021	$7,577,034	$8,389,539	$36,502,674	$-812,505
2020	$7,023,381	$8,330,875	$38,157,597	$-1,307,494
2019	$7,370,848	$8,151,778	$39,169,022	$-780,930
2018	$7,827,580	$8,113,305	$40,599,804	$-285,725

Home for the Aged