HATTIE IDE CHAFFEE NURSING HOME 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

1948

Legal Domicile

Principal Officer

DAVID MATERNE

Phone

4014341520

Tax Period

2023-01-01 to 2023-12-31

HATTIE IDE CHAFFEE NURSING HOME INC, founded in 1948, is a community nonprofit in the Health Care sector that reported $8.2M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $9.5M exceeded revenue, resulting in a 16% operating deficit.

Mission

IT'S THE MISSION OF HATTIE IDE CHAFFEE HOME TO ENSURE THE BEST QUALITY CARE. THIS COMES FROM HAVING THE FINEST IN STAFF. HATTIE IDE CHAFFEE'S HIGHLY TRAINED STAFF IS EQUIPPED TO RESPOND TO THE MOST COMPLEX MEDICAL PROBLEM. THE HOME'S FREQUENT REVIEWS CONTINUE TO MEET OR EXCEED THE HIGHEST STANDARDS SET BY THE STATE OF RHODE ISLAND. THE FACILITY HAS BEEN LICENSED BY THE STATE OF RHODE ISLAND, AND CERTIFIED BY THE STATE MEDICAID AND THE FEDERAL MEDICARE PROGRAMS. IN ADDITION, THE FACILITY ALSO OFFERS PHYSICAL, OCCUPATIONAL, SPEECH AND LANGUAGE THERAPY. THROUGH ITS NONPROFIT STATUS, VOLUNTEER BOARD OF DIRECTORS, PHYSICIAN INVOLVEMENT, AND GENEROUS BEQUESTS, THE ORGANIZATION CONTINUES TO THRIVE. TRUE TO ITS 70+ YEAR HISTORY, THE HOME OFFERS SKILLED AND RESPITE CARE FOR THOSE IN NEED. FOR FAMILIES WHO SEEK THE BEST FOR THEIR LOVED ONES, HATTIE IDE CHAFFEE OFFERS COMFORT, SATISFACTION, AND ASSURANCE THAT COME FROM THE ATTENTIVE AND PROFESSIONAL STAFF.

Program Service Accomplishments

Program 1

Expenses: $8,383,748 Revenue: $7,733,489

THE FACILITY IS MEDICARE AND MEDICAID CERTIFIED TO PROVIDE LONG-TERM NURSING CARE. HATTIE IDE CHAFFEE'S SERVICES ALSO INCLUDE PHYSICAL, OCCUPATIONAL, SPEECH AND LANGUAGE THERAPY.

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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 $154,815

Program Service Revenue $7,703,177

Investment Income $327,563

Other Revenue $26,092

TOTAL REVENUE $8,211,647

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,538,568

Fundraising Expenses $0

Program Expenses $8,383,748

Other Expenses $2,994,605

TOTAL EXPENSES $9,533,173

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,211,647	$7,256,484	+0.1%
Expenses	$9,533,173	$8,387,506	+0.1%
Net Income	$-1,321,526	$-1,131,022	+0.2%

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

178

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

$245,126

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID MATERNE	PRESIDENT	1.00	Officer Director	$0	$0	$0
KAREN RICE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
TEDFORD B RADWAY	SECRETARY	1.00	Officer Director	$0	$0	$0
AMY GULDHAUGE	TREASURER	1.00	Officer Director	$0	$0	$0
JAY GREGORY	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY SERRA	DIRECTOR	1.00	Director	$0	$0	$0
SHARLEEN BOWEN	DIRECTOR	1.00	Director	$0	$0	$0
PETER MINIATI	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL REUTER	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINA SCOLA	DIRECTOR	1.00	Director	$0	$0	$0
CASSANDRA THAYER	DIRECTOR UNTIL 6/30/23	1.00	Director	$0	$0	$0
BARRY ZELTZER	ADMINISTRATOR/CEO	40.00	Officer	$197,500	$23,626	$221,126
RALPH SANTORO	OFFICER / MEDICAL DIRECTOR	4.00	Officer	$24,000	$0	$24,000
MARLENE VERRIER	DIRECTOR OF NURSING	40.00	Highest	$130,181	$22,356	$152,537
MANGALA GUNARATNE	NURSE	40.00	Highest	$108,640	$8,577	$117,217

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	$8,211,647	$9,533,173	$22,731,580	$-1,321,526
2022	$7,256,484	$8,387,506	$19,376,989	$-1,131,022
2021	$7,775,312	$6,895,916	$20,206,774	$879,396
2020	$7,239,604	$6,538,302	$18,970,368	$701,302
2019	$6,902,111	$6,232,165	$17,129,664	$669,946
2018	$6,367,576	$6,226,355	$14,892,140	$141,221