PENQUIS MENTAL HEALTH ASSOCIATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1975

Legal Domicile

Principal Officer

KARA HAY

Phone

2079733500

Tax Period

2023-10-01 to 2024-09-30

PENQUIS MENTAL HEALTH ASSOCIATION, founded in 1975, is a small nonprofit in the Mental Health sector that reported $270K in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $438K exceeded revenue, resulting in a 62% operating deficit.

Mission

TO ENCOURAGE THE MAINTENANCE AND DEVELOPMENT OF SERVICES TO THE DEVELOPMENTALLY DISABLED, PSYCHIATRICALLY DISABLED, AND PHYSICALLY HANDICAPPED. THIS MISSION IS BEST CARRIED OUT THROUGH THE SUPPORT OF EXISTING AGENCIES IN PISCATAQUIS AND PENOBSCOT COUNTIES BY RECOGNITION OF THEIR GOOD WORKS, ACQUISITION AND LEASING OF CAPITAL GOODS TO BENEFIT THESE ORGANIZATIONS, INTEREST FREE LOANS TO ASSIST IN RESOLVING CASH FLOW NEEDS, AND COOPERATION IN DEVELOPMENT OF PROJECTS IN WHICH THEY SHARE AN INTEREST.

Program Service Accomplishments

Program 1

Expenses: $438,474 Revenue: $159,042

PROVIDE LONG-TERM SUPPORT FOR THE PROGRAMS OF CHARLOTTE WHITE CENTER.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,759,875

Program Service Revenue $159,042

Investment Income $-2,648,500

Other Revenue $0

TOTAL REVENUE $270,417

Expense Breakdown

Grants Paid $2,110

Salaries & Benefits $44,293

Fundraising Expenses $0

Program Expenses $438,474

Other Expenses $392,071

TOTAL EXPENSES $438,474

Year-over-Year Comparison

	2023	2022	Change
Revenue	$270,417	$491,680	-0.5%
Expenses	$438,474	$375,963	+0.2%
Net Income	$-168,057	$115,717	-2.5%

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

N/A

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

$661,482

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TYLER COLLINS	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
JACK CLUKEY	DIRECTOR	1.00	Director	$0	$0	$0
RICK HARNUM	DIRECTOR	1.00	Director	$0	$0	$0
MARK LEONARD	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN THIBEAU	DIRECTOR	1.00	Director	$0	$0	$0
KARA HAY	CHIEF EXECUTIVE OFFICER	0.01	Officer	$0	$34,929	$284,136
DENICE CONARY	CHIEF FINANCIAL OFFICER	0.01	Officer	$0	$25,776	$209,560
HEIDI LEBLANC	CHIEF OPERATING OFFICER	0.01	Officer	$0	$2,636	$167,786

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	$270,417	$438,474	$4,353,424	$-168,057
2023	$491,680	$375,963	$7,456,644	$115,717
2022	$126	$345,958	$5,302,562	$-345,832
2021	$163,692	$840,792	$5,179,645	$-677,100
2020	$450,820	$743,435	$6,324,011	$-292,615
2018	$612,115	$679,967	$4,827,572	$-67,852