LINCOLNHEALTH COVE'S EDGE (EIN 010382340) - Form 990 Financial Analysis & Trantor Score

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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

1981

Legal Domicile

Principal Officer

Cynthia Wade

Phone

2075634600

Tax Period

2023-10-01 to 2024-09-30

LINCOLNHEALTH COVE'S EDGE, founded in 1981, is a mid-sized nonprofit in the Health Care sector that reported $10.2M in total revenue in fiscal year 2023. Expenses of $14.6M exceeded revenue, resulting in a 44% operating deficit.

Mission

LincolnHealth Cove's Edge will uphold the trust placed in us by assuring: -the best and most compassionate skilled nursing, long term-care, assisted living and adult day care services from well trained professionals. -that the independence and dignity of our patients, residents, and clients will always be respected, and promoting open communication in all care decisions that, as a not-for-profit organization, we will be trustworthy stewards of our resources. -our active participation and support of the Mainehealth family.

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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 $1,300

Program Service Revenue $9,494,364

Investment Income $176,610

Other Revenue $501,493

TOTAL REVENUE $10,173,767

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,563,196

Fundraising Expenses $0

Program Expenses $12,960,787

Other Expenses $7,069,004

TOTAL EXPENSES $14,632,200

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,173,767	$10,316,524	0.0%
Expenses	$14,632,200	$13,255,371	+0.1%
Net Income	$-4,458,433	$-2,938,847	+0.5%

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

$872,532

Total Directors

$4,658,036

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrew Russ MD	Physician, LH	1.00	Director	$0	$19,506	$408,883
Aquilino Alamo MD	Physician, LH	1.00	Director	$0	$51,648	$388,647
Kelly Elkins	Chief Operating Officer, MH	1.00	Director	$0	$32,518	$1,217,045
Omar Hasan MD	Chief Quality Officer, MH	1.00	Director	$0	$56,587	$819,006
Russell Mack MD	Physician, LH	1.00	Director	$0	$0	$151,950
Samira Hasan DO	Physician, LH	1.00	Director	$0	$53,224	$686,550
Sean O'Donnell MD	Physician, LH	1.00	Director	$0	$49,685	$366,357
Timothy Fox MD	Physician, LH	1.00	Director	$0	$53,182	$476,965
Bruce P Garren	Vice Chair	1.00	Officer Director	$0	$0	$0
Marva Nesbit	Secretary	1.00	Officer Director	$0	$0	$0
Jack T Fulmer MD	Chair	1.00	Officer Director	$0	$0	$0
Leslie Fossel	Trustee	1.00	Director	$0	$0	$0
Denise Soucy MD	Trustee	1.00	Director	$0	$0	$0
Holly Stover	Trustee	1.00	Director	$0	$0	$0
Peter Wood	Treasurer	1.00	Officer Director	$0	$0	$0
Meagan G Hamblett	Trustee	1.00	Director	$0	$0	$0
Louis Sell	Trustee	1.00	Director	$0	$0	$0
Wayne Moore	Trustee	1.00	Director	$0	$0	$0
Bruce Lutsk	Trustee	1.00	Director	$0	$0	$0
Jessica Pinkham RN	Director of Surgical Services	1.00	Director	$0	$33,513	$142,633
Cynthia Wade	President, LH	3.00	Officer	$0	$56,611	$521,081
Wayne Printy	Chief Financial Officer	3.00	Officer	$0	$58,246	$351,451
Cheryl L Dobbelsteyn	Senior Director	50.00	Highest	$142,048	$23,927	$165,975
Kathryn A Bean	Registered Nurse	50.00	Highest	$145,881	$12,629	$158,510
Cynthia T Lindsley	Manager of Clinical Nursing	50.00	Highest	$103,844	$5,085	$108,929
Thelma A Hannan	Director of Nursing	50.00	Highest	$109,222	$36,672	$145,894
Wanda Wilcox	Executive Director	50.00	Highest	$134,954	$25,935	$160,889

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	$10,173,767	$14,632,200	$7,400,787	$-4,458,433
2023	$10,316,524	$13,255,371	$7,653,706	$-2,938,847
2022	$8,507,382	$13,646,808	$8,330,762	$-5,139,426
2021	$9,774,762	$12,567,123	$10,152,684	$-2,792,361
2020	$12,022,430	$12,491,373	$9,929,778	$-468,943
2019	$11,917,758	$12,508,083	$10,041,485	$-590,325
2018	$14,550,352	$15,333,796	$10,071,040	$-783,444

LINCOLNHEALTH COVE'S EDGE