Lakes Region Visiting Nurse Association (EIN 020228242) - 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

1923

Legal Domicile

Principal Officer

Erin Jospe

Phone

6032796611

Tax Period

2024-10-01 to 2025-09-30

Lakes Region Visiting Nurse Association, founded in 1923, is a community nonprofit that reported $7.5M in total revenue in fiscal year 2024. Expenses of $9.0M exceeded revenue, resulting in a 20% operating deficit.

Mission

Foster independence, provide health education and guidance, and involve the community with respect for each client and their families' rights to participate in decision making, based on the client's need, not ability to pay.

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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 (2024)

Revenue Breakdown

Contributions & Grants $637,643

Program Service Revenue $6,819,889

Investment Income $53,638

Other Revenue $6,293

TOTAL REVENUE $7,517,463

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $7,077,440

Fundraising Expenses $0

Program Expenses $6,546,252

Other Expenses $1,901,065

TOTAL EXPENSES $8,984,505

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,517,463	$7,341,117	+0.0%
Expenses	$8,984,505	$7,525,427	+0.2%
Net Income	$-1,467,042	$-184,310	+7.0%

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

120

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

$359,381

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jim Harnett	Director of Finance	37.50	Officer Director	$0	$0	$0
John Charles King	Secretary	1.00	Officer Director	$0	$0	$0
Bob Ciardi	Treasurer / Interim Chair	1.00	Officer Director	$0	$0	$0
Deborah Adams	Board Member	0.50	Director	$0	$0	$0
Marc Bard	Board Member	0.50	Director	$0	$0	$0
Jeff King	Board Member	0.50	Director	$0	$0	$0
Susannah Perron	Board Member	0.50	Director	$0	$0	$0
Rachel Saliba	Board Member	0.50	Director	$0	$0	$0
Betty Seeler	Board Member	0.50	Director	$0	$0	$0
Sheila Burke	Past Vice Chairman	1.00	Officer Director	$0	$0	$0
Donna Driscoll	Past Board Member	0.50	Director	$0	$0	$0
Donna Graves	Past Board Member	0.50	Director	$0	$0	$0
Lisa Sheldon Kennedy	Past Board Member	0.50	Director	$0	$0	$0
Marcus Weeks	Past Chairman	1.00	Officer Director	$0	$0	$0
Erin Jospe	CEO	37.50	Officer	$174,615	$3,177	$177,792
Kelli Converse	COO	37.50	Officer	$95,165	$11,656	$106,821
Jennifer Boyce	Past Director of Finance	37.50	Officer	$74,768	$0	$74,768
Martha Moorehead	Nurse Practitioner	37.50	Highest	$137,748	$1,651	$139,399

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
2025	$7,517,463	$8,984,505	$2,983,300	$-1,467,042
2024	$7,341,117	$7,525,427	$4,262,096	$-184,310
2023	$8,472,544	$7,967,921	$4,442,431	$504,623
2022	$8,110,426	$7,580,915	$3,942,949	$529,511
2021	$6,280,571	$6,564,994	$3,461,409	$-284,423
2020	$5,442,505	$4,821,372	$3,315,277	$621,133
2019	$4,095,575	$3,593,955	$2,375,327	$501,620
2018	$1,935,698	$1,798,959	$1,700,696	$136,739

Lakes Region Visiting Nurse Association