Maine Life Care Retirement Community Inc (EIN 010496258) - 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

1995

Legal Domicile

Principal Officer

Frank Chessa

Phone

2078838700

Tax Period

2023-01-01 to 2023-12-31

Maine Life Care Retirement Community Inc is a 501(c)(3) with EIN 010496258, based in Scarborough, ME. Founded in 1995, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $28,863,046 in total revenue and $30,427,773 in total expenses, with net assets of $-16,281,406.

Mission

Continuing care retirement community

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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 $166,250

Program Service Revenue $27,292,594

Investment Income $1,404,202

Other Revenue $0

TOTAL REVENUE $28,863,046

Expense Breakdown

Grants Paid $70,484

Salaries & Benefits $13,866,342

Fundraising Expenses $0

Program Expenses $20,627,211

Other Expenses $16,490,947

TOTAL EXPENSES $30,427,773

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,863,046	$24,416,383	+0.2%
Expenses	$30,427,773	$25,007,659	+0.2%
Net Income	$-1,564,727	$-591,276	+1.6%

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

371

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

$441,897

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Betz	Director	2.00	Director	$0	$0	$0
Richard Blake	Director (end Oct 23)	2.00	Director	$0	$0	$0
Stephen Brooks	Director	2.00	Director	$0	$0	$0
Kim Donnelly	Director	2.00	Director	$0	$0	$0
Marilyn Gugliucci	Director (start Oct 23)	2.00	Director	$0	$0	$0
Dawn Harmon	Director	2.00	Director	$0	$0	$0
Robert Lively	Director (start Oct 23)	2.00	Director	$0	$0	$0
David Kunhardt	Director	2.00	Director	$0	$0	$0
Michael Patterson	Director	2.00	Director	$0	$0	$0
Jonathan Roderick	Director	2.00	Director	$0	$0	$0
Malcolm Rogers MD	Director (end Oct 23)	2.00	Director	$0	$0	$0
Isabella Stumpf MD	Director (end Dec 23)	2.00	Director	$0	$0	$0
Michael Wood	Director	2.00	Director	$0	$0	$0
Frank Chessa	Chair	4.00	Officer Director	$0	$0	$0
Adrian Kurre	Vice Chair	4.00	Officer Director	$0	$0	$0
Karen Hart	Treasurer	4.00	Officer Director	$0	$0	$0
Nancy Magee	Secretary	4.00	Officer Director	$0	$0	$0
Philip Jean	CEO	40.00	Officer	$428,125	$13,772	$441,897
Leanne Fiet	COO	40.00	Highest	$229,860	$21,858	$251,718
Richard Ashley	Finance Director	40.00	Highest	$228,564	$17,352	$245,916
Andrea Killiard	Marketing Director	40.00	Highest	$207,425	$14,158	$221,583
Corey Seigel	Food and Nutrition Director	40.00	Highest	$164,864	$7,236	$172,100
Daisy Wilson	HR Director	40.00	Highest	$158,628	$17,565	$176,193

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	$28,863,046	$30,427,773	$177,971,954	$-1,564,727
2022	$24,416,383	$25,007,659	$169,329,865	$-591,276
2021	$23,531,278	$23,218,187	$140,484,243	$313,091
2020	$24,888,089	$22,674,504	$114,638,301	$2,213,585
2019	$22,688,891	$21,741,043	$114,920,475	$947,848
2018	$20,657,783	$20,769,707	$107,778,630	$-111,924

Maine Life Care Retirement Community Inc