RETIREE HOUSING OF WORCESTER INC (EIN 117239013) - 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

1987

Legal Domicile

Principal Officer

JOHN JOYCE

Phone

2163608333

Tax Period

2024-10-01 to 2025-09-30

RETIREE HOUSING OF WORCESTER INC, founded in 1987, is a small nonprofit that reported $436K in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $580K exceeded revenue, resulting in a 33% operating deficit.

Mission

TO PROVIDE LOW-INCOME HOUSING FOR ELDERLY AND DISABLED RESIDENTS.

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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 $267,813

Program Service Revenue $167,625

Investment Income $332

Other Revenue $0

TOTAL REVENUE $435,770

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,989

Fundraising Expenses $0

Program Expenses $570,883

Other Expenses $498,044

TOTAL EXPENSES $580,033

Year-over-Year Comparison

	2024	2023	Change
Revenue	$435,770	$613,609	-0.3%
Expenses	$580,033	$532,012	+0.1%
Net Income	$-144,263	$81,597	-2.8%

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

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN JOYCE	PRESIDENT	1.00	Officer	$0	$0	$0
JOHN JOYCE JR	VICE PRES/SE	1.00	Officer	$0	$0	$0

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	$435,770	$580,033	$730,491	$-144,263
2024	$613,609	$532,012	$861,323	$81,597
2023	$589,492	$492,308	$822,133	$97,184
2022	$528,438	$507,921	$809,202	$20,517
2021	$554,604	$535,773	$842,919	$18,831
2020	$511,174	$544,778	$882,371	$-33,604
2019	$518,328	$510,183	$947,742	$8,145
2018	$507,120	$511,474	$1,008,110	$-4,354

RETIREE HOUSING OF WORCESTER INC