MENTAL HEALTH ASSOCIATION 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

1960

Legal Domicile

Principal Officer

CHERYL FASANO

Phone

4137345376

Tax Period

2024-07-01 to 2025-06-30

MENTAL HEALTH ASSOCIATION INC, founded in 1960, is a mid-sized nonprofit in the Human Services sector that reported $54.2M in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $50.9M left a modest 6% surplus.

Mission

TO PROVIDE HIGH QUALITY, INDIVIDUALIZED AND FLEXIBILE RESIDENTIAL AND SUPPORT SERVICES THAT PROMOTE INDEPENDENCE, COMMUNITY ENGAGEMENT AND WELLNESS FOR PEOPLE IMPACTED BY MENTAL ILLNESS, DEVELOPMENTAL DISABILITIES, SUBSTANCE ABUSE, HOMELESSNESS AND OTHER CHALLENGES.

Program Service Accomplishments

Program 1

Expenses: $12,411,310 Revenue: $12,449,292

ADULT LONG-TERM RESIDENTIAL PROGRAMS PROVIDE A STABLE LONG-TERM HOUSING SOLUTION TO INDIVIDUALS IMPACTED BY DEVELOPMENTAL DISABILITIES, WHILE OFFERING BASIC SUPPORT TO MAXIMIZE INDEPENDENT LIVING...

ADULT LONG-TERM RESIDENTIAL PROGRAMS PROVIDE A STABLE LONG-TERM HOUSING SOLUTION TO INDIVIDUALS IMPACTED BY DEVELOPMENTAL DISABILITIES, WHILE OFFERING BASIC SUPPORT TO MAXIMIZE INDEPENDENT LIVING. DURING THE CURRENT YEAR, THE ORGANIZATION PROVIDED SERVICES TO 57 INDIVIDUALS.

Program 2

Expenses: $2,995,981 Revenue: $3,654,913

SUPPORTED LIVING HOLYOKE PROGRAM ASSISTS PEOPLE IMPACTED BY MENTAL ILLNESS, DEVELOPMENTAL DISABILITIES, AND OTHER CHALLENGES TO LIVE AS INDEPENDENTLY AS POSSIBLE WITHIN THE COMMUNITY. DURING THE...

SUPPORTED LIVING HOLYOKE PROGRAM ASSISTS PEOPLE IMPACTED BY MENTAL ILLNESS, DEVELOPMENTAL DISABILITIES, AND OTHER CHALLENGES TO LIVE AS INDEPENDENTLY AS POSSIBLE WITHIN THE COMMUNITY. DURING THE CURRENT YEAR THE ORGANIZATION PROVIDED SERVICES TO 28 INDIVIDUALS.

Program 3

Expenses: $6,488,984 Revenue: $7,783,635

SUPPORTED LIVING SPRINGFIELD PROGRAM ASSISTS PEOPLE IMPACTED BY MENTAL ILLNESS, DEVELOPMENTAL DISABILITIES, AND OTHER CHALLENGES TO LIVE AS INDEPENDENTLY AS POSSIBLE WITHIN THE COMMUNITY. DURING THE...

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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 $1,806,298

Program Service Revenue $51,985,101

Investment Income $318,227

Other Revenue $131,304

TOTAL REVENUE $54,240,930

Expense Breakdown

Grants Paid $8,180

Salaries & Benefits $35,484,366

Fundraising Expenses $617,602

Program Expenses $44,335,387

Other Expenses $15,426,604

TOTAL EXPENSES $50,929,090

Year-over-Year Comparison

	2024	2023	Change
Revenue	$54,240,930	$45,372,045	+0.2%
Expenses	$50,929,090	$43,035,853	+0.2%
Net Income	$3,311,840	$2,336,192	+0.4%

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

1061

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

$464,607

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENISE COGMAN	DIRECTOR	1.00	Director	$0	$0	$0
JACQUELINE JOHNSON	DIRECTOR (EFF 10/2024)	1.00	Director	$0	$0	$0
DONNA-RAE KENNEALLY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOSEPH LEPPER	TREASURER	1.00	Officer Director	$0	$0	$0
DEE CADY	CLERK	1.00	Officer Director	$0	$0	$0
NANCY MIRKIN	CHAIR	1.00	Officer Director	$0	$0	$0
MARIA PUPPOLO	DIRECTOR (THRU 10/2024)	1.00	Director	$0	$0	$0
EARL MILLER	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN BABINEAU	DIRECTOR	1.00	Director	$0	$0	$0
JANETTE VIGO	DIRECTOR	1.00	Director	$0	$0	$0
DARLENE LIBISZEWSKI	DIRECTOR	1.00	Director	$0	$0	$0
NEAL LAKRITZ	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL FASANO	PRESIDENT & CEO	40.00	Officer	$255,228	$17,556	$272,784
SARAH SMITH	VICE PRESIDENT OF FINANCE	40.00	Officer	$177,300	$14,523	$191,823
JENNIFER DUCHARME	VP OF DEVELOPMENT & COMMUN	40.00	Highest	$123,235	$9,287	$132,522
CHRISTINE PALMIERI	VP OF RECOVERY & HOUSING	40.00	Highest	$112,631	$3,516	$116,147
SARA KYSER	VP OF NEW WAY SERVICES	40.00	Highest	$117,111	$27,870	$144,981
RENE PINERO	VP OF CLINICAL SERVICES	40.00	Highest	$107,493	$12,400	$119,893
TARA KURTZ-BOUCHER	VP OF ICL SERVICES	40.00	Highest	$107,806	$9,287	$117,093

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	$54,240,930	$50,929,090	$47,182,572	$3,311,840
2024	$45,372,045	$43,035,853	$39,352,485	$2,336,192
2023	$38,189,783	$36,938,212	$29,133,968	$1,251,571
2022	$33,817,853	$31,767,746	$24,503,185	$2,050,107
2021	$28,160,219	$26,938,146	$23,427,297	$1,222,073
2020	$21,900,218	$22,342,913	$19,579,460	$-442,695
2019	$18,209,302	$17,819,043	$16,300,030	$390,259
2018	$16,498,129	$16,103,710	$14,260,765	$394,419