COLONY RETIREMENT HOMES III INC

EIN: 042650115 501(c)(3)

WORCESTER, MA

Total Revenue
$2,860,966
Total Expenses
$2,903,460
Total Assets
$6,142,272
Net Assets
$-3,336,017
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
MA
Principal Officer
MICHAEL MILLS
Phone
5087558350
Tax Period
2023-01-01 to 2023-12-31

COLONY RETIREMENT HOMES III INC, founded in 1977, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

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

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,795,604
Investment Income $16,781
Other Revenue $48,581
TOTAL REVENUE $2,860,966

Expense Breakdown

Grants Paid $133,092
Salaries & Benefits $854,486
Fundraising Expenses $0
Program Expenses $2,270,078
Other Expenses $1,915,882
TOTAL EXPENSES $2,903,460

Year-over-Year Comparison

2023 2022 Change
Revenue $2,860,966 $3,098,419 -0.1%
Expenses $2,903,460 $2,649,272 +0.1%
Net Income $-42,494 $449,147 -1.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
11
Independent Members
11
Employees
N/A
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
$0 $22,475 $173,094
HUA XU CONTROLLER 9.38
Officer
$0 $15,164 $121,433
TIMOTHY O'BRIEN SITE SUPERINTENDENT 10.00
Highest
$0 $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 $2,860,966 $2,903,460 $6,142,272 $-42,494
2022 $3,098,419 $2,649,272 $6,287,999 $449,147
2021 $2,399,317 $4,568,113 $6,155,714 $-2,168,796
2020 $2,350,444 $2,447,261 $3,694,962 $-96,817
2019 $2,260,386 $2,450,358 $3,916,096 $-189,972
2018 $2,226,677 $2,408,005 $4,482,279 $-181,328
Explore More Nonprofits
→Top 100 Nonprofits in Massachusetts →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare COLONY RETIREMENT HOMES III INC with other nonprofits in Massachusetts and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.