Maine Veterans Home (EIN 010376832) - 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

1983

Legal Domicile

Principal Officer

Sharon Fusco

Phone

2076220075

Tax Period

2022-07-01 to 2023-06-30

Maine Veterans Home is a 501(c)(3) with EIN 010376832, based in Augusta, ME. Founded in 1983, the organization files IRS Form 990 and reported its most recent data for fiscal year 2022. In that period, it reported $89,462,623 in total revenue and $103,085,307 in total expenses, with net assets of $128,060,614.

Mission

Maine Veterans' Homes provides skilled nursing and rehabilitation, long term care, memory care, pharmacy support and consultation, and assisted living services for veterans and eligible family members at six facilities across Maine.

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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 (2022)

Revenue Breakdown

Contributions & Grants $2,669,740

Program Service Revenue $80,987,861

Investment Income $1,220,686

Other Revenue $4,584,336

TOTAL REVENUE $89,462,623

Expense Breakdown

Grants Paid $0

Salaries & Benefits $61,839,864

Fundraising Expenses $0

Program Expenses $89,858,551

Other Expenses $41,245,443

TOTAL EXPENSES $103,085,307

Year-over-Year Comparison

	2022	2021	Change
Revenue	$89,462,623	$85,884,783	+0.0%
Expenses	$103,085,307	$95,974,404	+0.1%
Net Income	$-13,622,684	$-10,089,621	+0.4%

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

1413

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

$747,772

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Donald Lagace	Board Chair	1.00	Officer Director	$0	$0	$0
Steven SanPedro	Vice Chair	1.00	Officer Director	$0	$0	$0
Emil Genest	Treasurer	1.00	Officer Director	$0	$0	$0
Julie Schwetz	Secretary	1.00	Officer Director	$0	$0	$0
David Richmond	Board Member	1.00	Director	$0	$0	$0
Heather Burr	Board Member	1.00	Director	$0	$0	$0
Richard Parent	Board Member	1.00	Director	$0	$0	$0
Sam Collins	Board Member	1.00	Director	$0	$0	$0
Christopher Gardner	Board Member	1.00	Director	$0	$0	$0
Diane Jackson	Board Member	1.00	Director	$0	$0	$0
James Settele	Past Board Chair	1.00	Officer Director	$0	$0	$0
Adria Horn	Past Vice Chair	1.00	Officer Director	$0	$0	$0
Mitzi Sequoia	Past Board Member	1.00	Director	$0	$0	$0
Suzanne Kraus	Past Board Member	1.00	Director	$0	$0	$0
Kelley Kash	Past CEO	40.00	Officer	$239,339	$6,363	$245,702
Debra Fournier	Past COO	40.00	Officer	$144,957	$20,737	$165,694
Kevin Brooks	CFO	40.00	Officer	$181,535	$38,995	$220,530
Sharon Fusco	CEO	40.00	Officer	$29,423	$0	$29,423
Rebecca Gagnon	COO	40.00	Officer	$82,260	$4,163	$86,423
James McQuaid	Director of Pharmacy Services	40.00	Highest	$212,171	$32,810	$244,981
Maureen Carland	Administrator	40.00	Highest	$166,058	$20,383	$186,441
Jeffrey Church	Pharmacist	40.00	Highest	$165,685	$16,205	$181,890
Jacob Anderson	Administrator	40.00	Highest	$165,544	$14,955	$180,499
Neil Thurlow	Asst. Director of Pharmacy Services	40.00	Highest	$163,524	$35,441	$198,965

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	No data	No data	No data	No data
2023	$89,462,623	$103,085,307	$185,101,800	$-13,622,684
2022	$85,884,783	$95,974,404	$201,723,871	$-10,089,621
2021	$107,295,717	$97,921,867	$217,527,191	$9,373,850
2020	$126,323,581	$101,373,945	$187,313,138	$24,949,636
2019	$111,490,239	$92,467,792	$149,178,828	$19,022,447
2018	$101,148,915	$99,351,896	$142,234,366	$1,797,019

Maine Veterans Home