COLONY RETIREMENT HOMES INC

EIN: 042323137 501(c)(3)

WORCESTER, MA

Total Revenue
$2,983,650
Total Expenses
$1,874,104
Total Assets
$15,129,829
Net Assets
$14,987,470
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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
1963
Legal Domicile
MA
Principal Officer
MICHAEL MILLS
Phone
5088525285
Tax Period
2023-01-01 to 2023-12-31

COLONY RETIREMENT HOMES INC, founded in 1963, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2023. The organization ran a surplus of $1.1M, a strong 37% operating margin.

Mission

DEDICATED TO PROVIDING AFFORDABLE HOUSING FOR SENIORS OF LOW AND MODERATE INCOME.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $503,875
Program Service Revenue $2,105,618
Investment Income $336,169
Other Revenue $37,988
TOTAL REVENUE $2,983,650

Expense Breakdown

Grants Paid $0
Salaries & Benefits $680,374
Fundraising Expenses $0
Program Expenses $1,137,858
Other Expenses $1,193,730
TOTAL EXPENSES $1,874,104

Year-over-Year Comparison

2023 2022 Change
Revenue $2,983,650 $2,871,319 +0.0%
Expenses $1,874,104 $1,750,770 +0.1%
Net Income $1,109,546 $1,120,549 0.0%
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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Governance

Voting Members
11
Independent Members
11
Employees
69
Volunteers
11

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
5
$294,527
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL MILLS PRESIDENT 0.25
Officer Director
$0 $0 $0
JANE WANGARI VICE PRESIDENT 0.25
Officer Director
$0 $0 $0
BRAD CAMPBELL TREASURER 0.25
Officer Director
$0 $0 $0
REVEREND MARGARET GIFFORD MEMBER 0.25
Director
$0 $0 $0
REVEREND JANE WILLAN MEMBER 0.25
Director
$0 $0 $0
ANDIE BYRD MEMBER 0.25
Director
$0 $0 $0
CONSTANCE NICHOLS MEMBER 0.25
Director
$0 $0 $0
DIANNE MANN MEMBER 0.25
Director
$0 $0 $0
CHRIS EVANS MEMBER 0.25
Director
$0 $0 $0
BOB WOODLAND MEMBER 0.25
Director
$0 $0 $0
NINA DOW MEMBER 0.25
Director
$0 $0 $0
MARIANNE DELOREY EXECUTIVE DIRECTOR 10.00
Officer
$150,619 $22,475 $173,094
HUA XU CONTROLLER 9.38
Officer
$106,269 $15,164 $121,433
TIMOTHY O'BRIEN SITE SUPERINTENDENT 10.00
Highest
$102,490 $20,094 $122,584
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 $2,983,650 $1,874,104 $15,129,829 $1,109,546
2022 $2,871,319 $1,750,770 $13,997,625 $1,120,549
2021 $7,072,126 $1,544,908 $12,853,234 $5,527,218
2020 $2,288,564 $1,530,386 $7,309,223 $758,178
2019 $4,718,823 $1,528,324 $6,533,680 $3,190,499
2018 $1,609,826 $1,478,834 $3,363,782 $130,992
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