NEW HORIZONS INC (EIN 066040513) - Form 990 Financial Analysis & Trantor Score

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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

1967

Legal Domicile

Principal Officer

CAROL FITZGERALD

Phone

8606754711

Tax Period

2023-10-01 to 2024-09-30

NEW HORIZONS INC, founded in 1967, is a mid-sized nonprofit in the Human Services sector that reported $20.7M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

NEW HORIZONS, INC. PROVIDES AFFORDABLE HOUSING, ACCESSIBLE TRANSPORTATION, OTHER SUPPORT SERVICES, SHORT-TERM AND OUTPATIENT MEDICAL REHABILITATION, AND LONG-TERM SKILLED NURSING IN SUPPORTIVE COMMUNITIES OF CARE THAT ENABLE SENIORS, ADULTS WITH DISABILITIES, AND INDIVIDUALS FACING CHALLENGES TO ACHIEVE THEIR WELLNESS GOALS AND LIVE LIFE AS INDEPENDENTLY AND JOYFULLY AS POSSIBLE.

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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 $379,076

Program Service Revenue $19,440,609

Investment Income $413,905

Other Revenue $444,325

TOTAL REVENUE $20,677,915

Expense Breakdown

Grants Paid $1,891,101

Salaries & Benefits $10,991,011

Fundraising Expenses $3,789

Program Expenses $18,541,814

Other Expenses $7,390,232

TOTAL EXPENSES $20,272,344

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,677,915	$22,095,040	-0.1%
Expenses	$20,272,344	$23,090,427	-0.1%
Net Income	$405,571	$-995,387	-1.4%

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

243

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

$406,707

Total Directors

Key Employees

$165,171

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANN SCHAEFER-RIED	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
CARMEN MYERS	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER GIRARD	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DANIEL HINCKS	TREASURER	1.00	Officer Director	$0	$0	$0
GARY GROSS	DIRECTOR	1.00	Director	$0	$0	$0
JASON COHEN	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH WALKER	DIRECTOR	1.00	Director	$0	$0	$0
KRISTIN BOJANOWSKI	DIRECTOR	1.00	Director	$0	$0	$0
MARISSA MCDOUGAL	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL JENNINGS	DIRECTOR	1.00	Director	$0	$0	$0
PAUL MIKKELSON	OUTGOING DIRECTOR - THRU 5/14/24	1.00	Director	$0	$0	$0
ROBERT NEVERS	DIRECTOR	1.00	Director	$0	$0	$0
VIRGINIA GALLO	DIRECTOR	1.00	Director	$0	$0	$0
CAROL A FITZGERALD	CHIEF EXECUTIVE OFFICER	40.00	Officer	$260,892	$19,815	$280,707
MAUREEN CARDONE	CHIEF FINANCIAL OFFICER	40.00	Officer	$126,000	$0	$126,000
JOHN ZAZZARO	CHERRY BROOK ADMINISTRATOR	40.00	Key Emp	$153,938	$11,233	$165,171
AMANDA PATCH	DIRECTOR OF NURSING	40.00	Highest	$121,840	$1,302	$123,142
ANNE BLOMSTRAND	THERAPY PROGRAM DIRECTOR	40.00	Highest	$104,146	$13,997	$118,143
DARLENE GERACE	REGISTERED NURSE	40.00	Highest	$124,749	$17,962	$142,711
JENNIFER JOHNS	LICENSED PRACTICAL NURSE	40.00	Highest	$105,464	$13,485	$118,949
MICHAEL AVALLONE	LICENSED PRACTICAL NURSE	40.00	Highest	$130,905	$9,608	$140,513

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	$20,677,915	$20,272,344	$29,367,172	$405,571
2023	$22,095,040	$23,090,427	$30,557,358	$-995,387
2022	$23,386,855	$19,004,913	$30,323,196	$4,381,942
2021	$23,057,821	$18,243,055	$23,361,586	$4,814,766
2020	$19,493,041	$18,854,357	$22,407,821	$638,684
2019	$19,089,890	$17,553,632	$15,802,055	$1,536,258
2018	$19,056,050	$17,796,376	$15,167,548	$1,259,674

NEW HORIZONS INC