CARLETON-WILLARD HOMES INC

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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

1980

Legal Domicile

Principal Officer

CHRISTOPHER J GOLEN

Phone

7812758700

Tax Period

2023-01-01 to 2023-12-31

CARLETON-WILLARD HOMES INC, founded in 1980, is a mid-sized nonprofit in the Human Services sector that reported $41.2M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

CONTINUING THE LEGACY FROM 1884, CARLETON-WILLARD HAS BEEN A RESPECTED AND PROGRESSIVE LEADER IN PROVIDING COMPREHENSIVE SERVICES AND SUPPORT FOR OLDER ADULTS. WE PROVIDE OUTSTANDING FACILITIES AND SERVICES, A CARING AND DEDICATED STAFF AND AN ACTIVE AND VIBRANT COMMUNITY BUILT IN COLLABORATION WITH THOSE WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $25,808,177 Revenue: $23,402,236

OPERATING A 100 BED SKILLED NURSING FACILITY AND A 79 BED REST HOME FOR APPROXIMATELY 141 RESIDENTS. SKILLED NURSING PROVIDES LONG TERM CARE, SHORT TERM STAYS/REHABILITATION AND DEMENTIA/ALZHEIMER...

OPERATING A 100 BED SKILLED NURSING FACILITY AND A 79 BED REST HOME FOR APPROXIMATELY 141 RESIDENTS. SKILLED NURSING PROVIDES LONG TERM CARE, SHORT TERM STAYS/REHABILITATION AND DEMENTIA/ALZHEIMER CARE IN A DISTINCT, AWARD WINNING UNIT. SUPPORTIVE CARE IS PROVIDED IN THE REST HOME AREA OF THE VILLAGE TO THOSE REQUIRING VARIOUS SUPPORTIVE SERVICES WHILE NOT INFRINGING ON RESIDENT'S CAPABILITIES. BOTH SKILLED NURSING AND SUPPORTIVE CARE SERVICES ARE AVAILABLE TO INDEPENDENT RESIDENTS OF CARLETON-WILLARD AND TO SENIORS FROM SURROUNDING COMMUNITIES.

Program 2

Expenses: $9,378,186 Revenue: $16,413,992

OPERATES A COMMUNITY WITH 155 INDEPENDENT LIVING UNITS SERVICING APPROXIMATELY 181 INDIVIDUALS. ACCOMMODATIONS INCLUDE DAILY MEALS, WEEKLY HOUSEKEEPING AND LINEN SERVICES, TRANSPORTATION TO MEDICAL APPOINTMENTS, LOCAL SHOPPING AND ONSITE ACTIVITIES, MOST UTILITIES, TRASH REMOVAL AND RECYCLING, PARKING, 24/7 SECURITY, IN-UNIT EMERGENCY MONITORING SYSTEM, FITNESS CENTER, CRAFT STUDIO, WOODWORKING SHOP, COMPUTER CENTER, LIBRARY AND AN EXTENSIVE ACTIVITY PROGRAM. ADDITIONALLY, RESIDENTS HAVE THE CONVENIENCE OF ON-SITE BANKING, AN INDOOR POOL, GENERAL STORE/GIFT SHOP, FLORIST, BEAUTY SALON AND ACCESS TO ORGANIZED ACTIVITIES BEYOND THE COMMUNITY.

Program 3

Expenses: $1,466,694 Revenue: $219,830

OPERATES AN ON-SITE OUTPATIENT CLINIC SERVING APPROXIMATELY 215 RESIDENTS FROM CARLETON-WILLARD'S INDEPENDENT AND ASSISTANCE IN LIVING PROGRAMS. COMPREHENSIVE SERVICES AVAILABLE THROUGH THE CLINIC...

OPERATES AN ON-SITE OUTPATIENT CLINIC SERVING APPROXIMATELY 215 RESIDENTS FROM CARLETON-WILLARD'S INDEPENDENT AND ASSISTANCE IN LIVING PROGRAMS. COMPREHENSIVE SERVICES AVAILABLE THROUGH THE CLINIC INCLUDE ROUTINE AND URGENT OUTPATIENT CARE, SCHEDULED APPOINTMENTS IN A VARIETY OF SPECIALTIES INCLUDING OPHTHALMOLOGY, PODIATRY, DERMATOLOGY, PSYCHIATRY, AUDIOLOGY AND PHYSICAL, SPEECH AND OCCUPATIONAL THERAPIES. STAFFED BY A FULLTIME NURSE PRACTITIONER AND OTHER CLINIC STAFF.

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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 $444,655

Program Service Revenue $40,036,058

Investment Income $709,380

Other Revenue $7,396

TOTAL REVENUE $41,197,489

Expense Breakdown

Grants Paid $288,771

Salaries & Benefits $22,062,490

Fundraising Expenses $54,002

Program Expenses $36,841,275

Other Expenses $19,280,756

TOTAL EXPENSES $41,632,017

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,197,489	$37,934,919	+0.1%
Expenses	$41,632,017	$40,466,272	+0.0%
Net Income	$-434,528	$-2,531,353	-0.8%

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

413

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

$1,078,283

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER ANDERSON	TRUSTEE	0.90	Director	$0	$0	$0
MALCOM CREIGHTON	TRUSTEE	0.90	Director	$0	$0	$0
WILLIAM W GALLAGHER III	TRUSTEE	0.90	Director	$0	$0	$0
PAUL HARRISON JR	TRUSTEE	0.90	Director	$0	$0	$0
REV JOHN C LOMBARD D MIN	TRUSTEE	0.90	Director	$0	$0	$0
RUTH W PIPER	TRUSTEE	0.90	Director	$0	$0	$0
JAMES A SALTONSTALL	TRUSTEE	0.90	Director	$0	$0	$0
ANN MARIE TEUBER LMFT	TRUSTEE	0.90	Director	$0	$0	$0
THEODORE HANSELMAN	TRUSTEE	0.90	Director	$0	$0	$0
MARGARET HOAG	TRUSTEE	0.90	Director	$0	$0	$0
NICHOLAS SCHMALZ	TRUSTEE	0.90	Director	$0	$0	$0
JACKIE SHAW	TRUSTEE	0.90	Director	$0	$0	$0
CATHLEEN SUMMERS	TRUSTEE	0.90	Director	$0	$0	$0
BRENDA WENNING	TRUSTEE	0.90	Director	$0	$0	$0
JOHN GLASER	BOARD CHAIR (AS OF 6/15/23)	3.00	Officer Director	$0	$0	$0
JOHN E CUPPLES	BOARD CHAIR (THRU 6/15/23)	3.00	Officer Director	$0	$0	$0
TOM WOODHOUSE	VICE-CHAIRMAN	1.00	Officer Director	$0	$0	$0
JEFFREY R WILLIAMS	TREASURER (AS OF 6/15/23)	1.00	Officer Director	$0	$0	$0
WILLIAM W JACKSON	TREASURER (THRU 4/20/23)	1.00	Officer Director	$0	$0	$0
ADRIENNE SMITH	CLERK	1.00	Officer Director	$0	$0	$0
BARBARA A DOYLE	PRESIDENT & CEO (THRU 5/5/23)	60.00	Officer	$331,574	$14,843	$346,417
CHRISTOPHER GOLEN	PRESIDENT & CEO (AS OF 4/24/23)	60.00	Officer	$295,780	$24,061	$319,841
JANET D SILVERMAN	CFO (THRU 6/29/23)	50.00	Officer	$216,211	$16,352	$232,563
MICHAEL MATTHEWS	CFO (AS OF 5/10/23)	50.00	Officer	$178,500	$962	$179,462
ANNE BRENNAN	ADMINISTRATOR	50.00	Highest	$228,361	$10,096	$238,457
SUSAN CUSSON	CLINIC DIRECTOR	40.00	Highest	$186,416	$19,832	$206,248
LEA POULIN	DIRECTOR OF NURSES	40.00	Highest	$164,601	$39,882	$204,483
BRIAN BUTLER	DIRECTOR OF FACILITIES	50.00	Highest	$201,137	$2,930	$204,067
KATHLEEN CROSBY	DIRECTOR OF SALES	40.00	Highest	$180,821	$20,077	$200,898

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	$41,197,489	$41,632,017	$85,282,808	$-434,528
2022	$37,934,919	$40,466,272	$79,643,744	$-2,531,353
2021	$38,647,048	$37,778,931	$84,483,009	$868,117
2020	$35,765,902	$36,391,059	$78,162,573	$-625,157
2019	$33,269,776	$34,715,768	$74,802,826	$-1,445,992
2018	$32,662,364	$33,857,215	$72,807,721	$-1,194,851