LATHAM CENTERS 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

1970

Legal Domicile

Principal Officer

GERALD J POULIOT III

Phone

5088965776

Tax Period

2024-07-01 to 2025-06-30

LATHAM CENTERS INC, founded in 1970, is a mid-sized nonprofit that reported $29.5M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

LATHAM CENTERS INC. IS A PRIVATE NON-PROFIT AGENCY THAT PROVIDES RESIDENTIAL AND DAY SERVICES TO INDIVIDUALS WHO ARE EMOTIONALLY, INTELLECTUALLY, PHYSICALLY OR OTHERWISE CHALLENGED. OUR AIM IS TO ASSIST EACH INDIVIDUAL TO ACHIEVE HIS OR HER POTENTIAL AND TO BECOME VALUED MEMBERS OF THEIR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $13,424,758 Revenue: $15,725,538

LATHAM INTENSIVE - PROVIDES COMPREHENSIVE SERVICES FOR INDIVIDUALS AGED 8 TO 22 WHO DISPLAY DELAYED DEVELOPMENT, EMOTIONAL AND BEHAVIORAL DISTURBANCES, AND LEARNING DISABILITIES.

Program 2

Expenses: $8,663,248 Revenue: $9,682,787

ADULT SERVICES - PROVIDES SPECIALIZED RESIDENTIAL AND DAY SERVICES TO MEET THE MEDICAL, BEHAVIORAL, EMOTIONAL, EDUCATIONAL, AND VOCATIONAL NEEDS OF INDIVIDUALS, INCLUDING THOSE WITH PRADER-WILLI...

ADULT SERVICES - PROVIDES SPECIALIZED RESIDENTIAL AND DAY SERVICES TO MEET THE MEDICAL, BEHAVIORAL, EMOTIONAL, EDUCATIONAL, AND VOCATIONAL NEEDS OF INDIVIDUALS, INCLUDING THOSE WITH PRADER-WILLI SYNDROME.

Program 3

Expenses: $1,432,970 Revenue: $2,104,717

SHARED LIVING - OFFERS FOSTER CARE FOR ADULTS IN NURTURING ENVIRONMENTS BY INDIVIDUALS OR FAMILIES WHO OPEN UP THEIR HOMES.

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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 $685,132

Program Service Revenue $28,429,575

Investment Income $64,923

Other Revenue $348,215

TOTAL REVENUE $29,527,845

Expense Breakdown

Grants Paid $0

Salaries & Benefits $22,000,175

Fundraising Expenses $484,471

Program Expenses $23,989,884

Other Expenses $7,755,784

TOTAL EXPENSES $29,755,959

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,527,845	$26,755,440	+0.1%
Expenses	$29,755,959	$26,337,043	+0.1%
Net Income	$-228,114	$418,397	-1.5%

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

356

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

$402,088

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERALD J POULIOT III	PRESIDENT & CEO	40.00	Officer	$192,758	$23,760	$216,518
DR CHRISTINE THOMAS	CHAIR	2.50	Officer Director	$0	$0	$0
MATT MCCLEERY	VICE CHAIR	2.50	Officer Director	$0	$0	$0
JACK KELLY	TREASURER	2.50	Officer Director	$0	$0	$0
KEITH BRADLEY	CLERK	2.50	Officer Director	$0	$0	$0
CARRIE AUSTIN	DIRECTOR	2.50	Director	$0	$0	$0
CHRIS BLAKE	DIRECTOR	2.50	Director	$0	$0	$0
JANE BLUM	DIRECTOR	2.50	Director	$0	$0	$0
MICHAEL BULGER	DIRECTOR	2.50	Director	$0	$0	$0
DANIEL CHAMBERLAIN ESQ	DIRECTOR	2.50	Director	$0	$0	$0
TYLER ELDREDGE	DIRECTOR	2.50	Director	$0	$0	$0
JO-ELLEN ERICKSON	DIRECTOR	2.50	Director	$0	$0	$0
CHRISTINE GILLSTROM	DIRECTOR	2.50	Director	$0	$0	$0
ANNE GILMORE	DIRECTOR	2.50	Director	$0	$0	$0
DANIELLE PERETZ	DIRECTOR	2.50	Director	$0	$0	$0
ANTONIA SOLITRO	DIRECTOR	2.50	Director	$0	$0	$0
RICK LUDWIG	VP OF FINANCE/CFO	40.00	Officer	$168,376	$17,194	$185,570
KHANH LA	CHILD CARE WORKER AWAKE OVERNIGHT	40.00	Highest	$190,962	$23,661	$214,623
LEE CHAMBERLAIN	VP AND CHIEF STRATEGY OFFICER	40.00	Highest	$175,211	$13,913	$189,124
JANICE HOLT	REGISTERED NURSE ADULTS	40.00	Highest	$157,703	$8,932	$166,635
ALANNA CAPATUMMINO	DIRECT SUPPORT PROFESSIONAL	40.00	Highest	$149,311	$3,316	$152,627
STEPHEN LAVALLEE	ADVANCED CARE RESIDENTIAL MANAGER	40.00	Highest	$103,845	$7,992	$111,837

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	$29,527,845	$29,755,959	$28,840,017	$-228,114
2024	$26,755,440	$26,337,043	$27,788,145	$418,397
2023	$28,433,142	$25,453,811	$23,991,027	$2,979,331
2022	$24,988,304	$23,301,429	$19,703,020	$1,686,875
2021	$23,612,750	$22,978,588	$18,574,594	$634,162
2020	$21,747,772	$21,287,341	$18,593,549	$460,431
2019	$19,859,457	$19,460,254	$15,335,949	$399,203
2018	$18,804,491	$19,011,928	$15,106,693	$-207,437