CHURCH HOMES INC CONGREGATIONAL

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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

1957

Legal Domicile

Principal Officer

WILLIAM THOMPSON

Phone

8605279126

Tax Period

2023-10-01 to 2024-09-30

CHURCH HOMES INC CONGREGATIONAL, founded in 1957, is a mid-sized nonprofit in the Human Services sector that reported $48.7M in total revenue in fiscal year 2023.

Mission

TO PROVIDE, ON A NOT-FOR-PROFIT BASIS AND WITHOUT DISCRIMINATION, A FULL RANGE OF RESIDENTIAL LIVING AND HEALTH CARE SERVICES FOR OLDER ADULTS BY PROMOTING AND IMPLEMENTING SYSTEMS THAT MAINTAIN AND SUPPORT EVERY INDIVIDUAL'S OPTIMAL INDEPENDENCE AND LIFE WISHES IN A (SEE SCH O)SAFE, DIGNIFIED ATMOSPHERE CONDUCIVE TO QUALITY RETIREMENT, BY ASSURING KNOWLEDGEABLE AND CONSISTENT LEADERSHIP IN RETIREMENT LIVING, LONG-TERM CARE, HOME CARE AND SUPPORT SERVICES AND BY DEVELOPING INNOVATIVE PROGRAMS AND SERVICES WHICH RESPOND TO THE CHANGING NEEDS OF ITS RESIDENTS AND CLIENTS AND THE SOCIETY IT SERVES.

Program Service Accomplishments

Program 1

Expenses: $43,965,267 Revenue: $47,046,646

CHURCH HOMES, INC. CONGREGATIONAL IS A NOT-FOR-PROFIT CORPORATION, WHICH OWNS AND OPERATES RETIREMENT AND HEALTH CARE FACILITIES IN HARTFORD, CT (AVERY HEIGHTS) AND SALISBURY, CT (NOBLE HORIZONS)...

CHURCH HOMES, INC. CONGREGATIONAL IS A NOT-FOR-PROFIT CORPORATION, WHICH OWNS AND OPERATES RETIREMENT AND HEALTH CARE FACILITIES IN HARTFORD, CT (AVERY HEIGHTS) AND SALISBURY, CT (NOBLE HORIZONS). AVERY HEIGHTS CONSISTS OF 130 SKILLED NURSING BEDS, 69 INTERMEDIATE CARE BEDS, 58 INDEPENDENT LIVING COTTAGES, 127 INDEPENDENT LIVING AND ASSISTED LIVING APARTMENTS, PLUS 20 MEMORY CARE UNITS. IN ADDITION, AVERY HEIGHTS OPERATES A HOME HEALTH AGENCY. NOBLE HORIZONS CONSISTS OF 61 SKILLED NURSING BEDS, 30 INTERMEDIATE CARE BEDS, 50 INDEPENDENT LIVING COTTAGES, AND 19 ACCOMMODATIONS IN A HOME FOR THE AGED.

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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 $280,032

Program Service Revenue $46,931,071

Investment Income $1,280,579

Other Revenue $250,823

TOTAL REVENUE $48,742,505

Expense Breakdown

Grants Paid $10,359

Salaries & Benefits $28,737,185

Fundraising Expenses $36,904

Program Expenses $43,965,267

Other Expenses $18,756,164

TOTAL EXPENSES $47,503,708

Year-over-Year Comparison

	2023	2022	Change
Revenue	$48,742,505	$45,348,056	+0.1%
Expenses	$47,503,708	$44,981,322	+0.1%
Net Income	$1,238,797	$366,734	+2.4%

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

494

Volunteers

132

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

$832,252

Total Directors

$613,697

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK GILLAND CEO TILL 224	VICE CHAIRMAN	40.00	Officer Director	$306,016	$57,332	$363,348
WILLIAM THOMPSON	CEO/PRESIDENT (AS OF 2/2024)	40.00	Officer Director	$206,791	$43,558	$250,349
DAVID E CANUEL	CHAIRMAN	1.00	Officer Director	$0	$0	$0
THOMAS P KELLEY	VICE CHAIRMAN (LEFT 1/2024)	1.00	Officer Director	$0	$0	$0
LARRY C BROWN	DIRECTOR (LEFT 1/2024)	1.00	Director	$0	$0	$0
KENNETH H MCGOVERN	DIRECTOR	1.00	Director	$0	$0	$0
P WAYNE MOORE	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET A GOLAS	DIRECTOR	1.00	Director	$0	$0	$0
MERCEDESE E LARGE	DIRECTOR	1.00	Director	$0	$0	$0
PETER B MATHEWS	DIRECTOR (LEFT 1/2024)	1.00	Director	$0	$0	$0
CYNTHIA W SHAHEN	DIRECTOR	1.00	Director	$0	$0	$0
JAMES FIDANZA	DIRECTOR (AS OF 1/2024)	1.00	Director	$0	$0	$0
CYNTHIA J MARTINEZ	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LATINA	VP/ADMINISTRATOR (AS OF 1/2024)	40.00	Officer	$0	$0	$0
WILLIAM POND	VP/ADMINISTRATOR	40.00	Officer	$146,176	$26,557	$172,733
DOREEN BALDONI	CORPORATE SECRETARY	30.00	Officer	$42,232	$3,590	$45,822
ANNA LUKAS	NURSE MANAGER	40.00	Highest	$197,240	$39,544	$236,784
MARIA CECILIA MATHERLY	RN	40.00	Highest	$176,890	$17,619	$194,509
AUTUMN COCKROFT	DNS	40.00	Highest	$145,032	$23,200	$168,232
JESSICA BOARDMAN	ADNS / NURSE MGR	40.00	Highest	$140,598	$50,260	$190,858
BONITA GANIM	DNS	40.00	Highest	$134,782	$24,444	$159,226

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	No data	No data	No data	No data
2024	$48,742,505	$47,503,708	$65,296,278	$1,238,797
2023	$45,348,056	$44,981,322	$61,929,850	$366,734
2022	$42,649,709	$42,535,743	$60,252,120	$113,966
2021	$47,094,677	$40,430,128	$66,814,716	$6,664,549
2020	$42,476,151	$42,676,054	$64,731,032	$-199,903
2019	$44,299,704	$42,795,344	$58,402,377	$1,504,360
2018	$42,684,725	$41,457,621	$57,765,674	$1,227,104