Lakewood Northern Light Continuing Care Lakewood (EIN 010421234) - 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

1983

Legal Domicile

Principal Officer

John J Doyle

Phone

2079739081

Tax Period

2023-10-01 to 2024-09-30

Lakewood Northern Light Continuing Care Lakewood, founded in 1983, is a mid-sized nonprofit in the Health Care sector that reported $12.8M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $14.2M exceeded revenue, resulting in a 11% operating deficit.

Mission

Lakewood d/b/a Northern Light Continuing Care Lakewood is a 105 bed long-term care facility that provides skilled, dementia and long-term nursing care.

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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 $22,588

Program Service Revenue $12,787,125

Investment Income $19,324

Other Revenue $0

TOTAL REVENUE $12,829,037

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,516,621

Fundraising Expenses $0

Program Expenses $12,462,926

Other Expenses $6,732,059

TOTAL EXPENSES $14,248,680

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,829,037	$14,005,629	-0.1%
Expenses	$14,248,680	$13,399,845	+0.1%
Net Income	$-1,419,643	$605,784	-3.3%

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

142

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

$1,812,307

Total Directors

$491,286

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Paul Bolin	EVP & CPO	0.50	Officer	$0	$112,842	$648,086
Tricia Costigan	Pres/Ex-Officio	0.50	Officer Director	$0	$46,945	$387,564
Randall L Clark	Former VP Finance	0.00		$0	$58,433	$358,299
Chris Frauenhofer	VP Fin-Pt Yr	5.00	Officer	$29,938	$52,605	$351,989
David Kennedy	Interim VP-Fin	0.50	Officer	$0	$18,952	$280,891
Diane E Lessard	CNA III	40.00		$176,062	$21,901	$197,963
Nympha Ferris	CNA III	40.00		$170,233	$13,629	$183,862
Patti J Gagne	Registered Nurse I	40.00		$148,710	$25,009	$173,719
Lindsey Moody	Administrator	40.00	Officer	$116,416	$27,361	$143,777
April J Burke	Manager Clinical	40.00		$117,299	$26,409	$143,708
Holly Tweedie	Registered Nurse I	40.00		$111,237	$12,951	$124,188
Catherine Kimball DO	Director	0.50	Director	$0	$2,034	$103,722
Christopher L Gaunce	Director	0.50	Director	$0	$0	$0
Beth Gibbs	Director	0.50	Director	$0	$0	$0
Crystal Olsen	Chairman	0.50	Officer Director	$0	$0	$0
Bryan Ward Esquire	Chairman-Pt Yr	0.50	Officer Director	$0	$0	$0
John Marden	Director	0.50	Director	$0	$0	$0

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	$12,829,037	$14,248,680	$6,472,572	$-1,419,643
2023	$14,005,629	$13,399,845	$7,563,888	$605,784
2022	$11,754,616	$12,364,227	$8,327,167	$-609,611
2021	$9,675,416	$10,673,177	$8,416,936	$-997,761
2020	$11,874,509	$11,566,247	$8,929,208	$308,262
2019	$11,912,511	$11,939,160	$7,376,543	$-26,649
2018	$13,144,650	$13,159,679	$7,583,469	$-15,029

Lakewood Northern Light Continuing Care Lakewood