SOUTH SHORE ASSOCIATION FOR INDEPE… - Form 990 Financial Data

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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

1982

Legal Domicile

Principal Officer

CHRISTOPHER TURK

Phone

5168551800

Tax Period

2024-01-01 to 2024-12-31

SOUTH SHORE ASSOCIATION FOR INDEPENDENT LIVING INC, founded in 1982, is a mid-sized nonprofit in the Human Services sector that reported $21.4M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

OPERATE RESIDENCES IN THE COMMUNITY THAT PROVIDE REHABILITATION, CLINICAL TREATMENT AND SUPPORT SERVICES FOR MENTALLY ILL ADULTS AND THEIR FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $6,773,761 Revenue: $966,663

SUPPORTED HOUSING: PROGRAM FOR CONSUMERS WITH PSYCHIATRIC DISABILITIES WHO ARE ABLE TO LIVE ON THEIR OWN WITH VERY LITTLE STAFF SUPPORT. STAFF VISIT CONSUMERS AT LEAST ONCE PER MONTH BUT MORE OFTEN...

Program 2

Expenses: $3,744,573 Revenue: $4,540,987

APARTMENT TREATMENT: PROVIDES SERVICES TO 96 CONSUMERS WITH PSYCHIATRIC DISABILITIES IN THEIR AGENCY PROVIDED APARTMENTS. STAFF MEMBERS VISIT CONSUMERS ANYWHERE FROM ONCE A DAY TO ONCE A WEEK...

APARTMENT TREATMENT: PROVIDES SERVICES TO 96 CONSUMERS WITH PSYCHIATRIC DISABILITIES IN THEIR AGENCY PROVIDED APARTMENTS. STAFF MEMBERS VISIT CONSUMERS ANYWHERE FROM ONCE A DAY TO ONCE A WEEK, DEPENDING ON THE NEEDS OF THE INDIVIDUAL.

Program 3

Expenses: $3,366,714 Revenue: $3,873,515

COMMUNITY RESIDENCES: PROVIDES SUPPORT AND SERVICES TO CONSUMERS WITH PSYCHIATRIC DISABILITIES 24 HOURS A DAY 7 DAYS A WEEK IN A GROUP HOME SETTING. AGENCY OWNS 4 HOMES, 3 CONTAINING 10 CONSUMERS, 1...

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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 $7,898,559

Program Service Revenue $13,414,984

Investment Income $83,804

Other Revenue $400

TOTAL REVENUE $21,397,747

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,064,507

Fundraising Expenses $0

Program Expenses $18,552,402

Other Expenses $8,850,216

TOTAL EXPENSES $20,914,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,397,747	$19,615,663	+0.1%
Expenses	$20,914,723	$19,234,896	+0.1%
Net Income	$483,024	$380,767	+0.3%

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

176

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

$646,350

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN FRIEDMAN	PRESIDENT	5.00	Officer Director	$0	$0	$0
PEGGY GROSMAN	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CHRISTOPHER TURK	TREASURER	5.00	Officer Director	$0	$0	$0
MURIELLE BEDARD	SECRETARY	5.00	Officer Director	$0	$0	$0
MICHAEL DASH	MEMBER	5.00	Director	$0	$0	$0
DIANE RUBIN	MEMBER	5.00	Director	$0	$0	$0
BRIAN COHEN	CEO	37.50	Officer	$273,166	$70,145	$343,311
NOELLE PALAZZO	CFO	37.50	Officer	$238,533	$64,506	$303,039
DR ROSARIO INCIONG	PSYCHIATRIST	25.00	Highest	$227,955	$46,010	$273,965
RICKY DEMIRAKOS	COO	37.50	Highest	$211,343	$42,739	$254,082
CHRIS KINSELLA	VP OF FINANCE	37.50	Highest	$166,939	$63,802	$230,741
JUDITH DORIA	CCO	37.50	Highest	$150,568	$46,850	$197,418
CYNTHIA OWENS	CPO	37.50	Highest	$160,853	$33,475	$194,328

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	$21,397,747	$20,914,723	$26,306,310	$483,024
2023	$19,615,663	$19,234,896	$22,496,329	$380,767
2022	$18,423,879	$17,841,115	$20,661,012	$582,764
2021	$16,812,940	$16,659,833	$15,533,435	$153,107
2020	$16,159,656	$16,141,065	$14,462,849	$18,591
2019	$16,478,643	$15,761,078	$14,618,102	$717,565
2018	$15,268,208	$14,861,970	$13,782,207	$406,238

SOUTH SHORE ASSOCIATION FOR INDEPENDENT LIVING INC