RICHMOND HOME NEED SERVICES INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

JANET MAGNUSON

Phone

7189878400

Tax Period

2023-07-01 to 2024-06-30

RICHMOND HOME NEED SERVICES INC, founded in 1971, is a mid-sized nonprofit that reported $10.7M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year.

Mission

PART III, LINE 1 THE ORGANIZATION STRIVES TO ENHANCE THE QUALITY OF LIFE OF INDIVIDUALS AND FAMILIES IN THEIR PLACE OF RESIDENCE AND TO DELIVER COMPASSIONATE HOME- BASED CARE BY SKILLED PARA-PROFESSIONALS AND PROFESSIONAL STAFF. RICHMOND HOME NEED SERVICES' MISSION AND PURPOSE IS THE PROMOTION, MAINTENANCE, RESTORATION OF HEALTH AND SOCIAL FUNCTIONING BY MINIMIZING THE EFFECTS OF FAMILY STRESS, ILLNESS AND DISABILITY.

Program Service Accomplishments

Program 1

Expenses: $3,154,688

TO PROVIDE SERVICES FOR CHILDREN IN THEIR HOMES AS AN ALTERNATIVE TO INSTITUTIONALIZATION UNDER THE AUSPICES OF THE ADMINISTRATION FOR CHILDREN'S SERVICE'S AND HIV/AIDS SERVICE ADMINISTRATION.

Program 2

Expenses: $1,672,104

TO PROVIDE HOUSEKEEPING SERVICES TO THE INFIRM UNDER THE AUSPICES OF THE NEW YORK CITY HUMAN RESOURCES ADMINISTRATION.

Program 3

Expenses: $1,851,868

TO PROVIDE PERSONAL CARE AND HOUSEKEEPING SERVICES TO THE ELDERLY UNDER THE AUSPICES OF THE NEW YORK CITY DEPARTMENT FOR THE AGING.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,703,872

Program Service Revenue $3,273,321

Investment Income $32

Other Revenue $690,158

TOTAL REVENUE $10,667,383

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,425,159

Fundraising Expenses $0

Program Expenses $10,547,631

Other Expenses $685,196

TOTAL EXPENSES $11,110,355

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,667,383	$11,274,548	-0.1%
Expenses	$11,110,355	$10,879,787	+0.0%
Net Income	$-442,972	$394,761	-2.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

394

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

$333,910

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTINE SILEO	EXECUTIVE DI	40.00	Officer	$143,077	$37,346	$180,423
DAWN BENJAMIN	DIRECTOR OF	40.00	Officer	$102,021	$51,466	$153,487
GERARD CARBONELLA	TREASURER	2.00	Officer Director	$0	$0	$0
JAYNE COOPER	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN W COTTONE	DIRECTOR	1.00	Director	$0	$0	$0
JULIE DESTEFANO	DIRECTOR	1.00	Director	$0	$0	$0
SHERMAN HELLER	DIRECTOR	1.00	Director	$0	$0	$0
DR MANUEL LAGMAY	PRESIDENT/CH	2.00	Officer Director	$0	$0	$0
ROBERT MYERS	PRESIDENT/CH	2.00	Officer Director	$0	$0	$0
ALBERTA BRESCIA RN	DIRECTOR	1.00	Director	$0	$0	$0
CYNTHIA ROBERT	SECRETARY	2.00	Officer Director	$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	No data	No data	No data	No data
2024	$10,667,383	$11,110,355	$7,056,888	$-442,972
2023	$11,274,548	$10,879,787	$7,897,149	$394,761
2022	$11,503,731	$11,641,326	$8,286,107	$-137,595
2021	$12,550,767	$12,386,725	$9,216,506	$164,042
2020	$14,283,520	$13,289,700	$9,608,894	$993,820
2019	$13,166,048	$12,107,463	$7,554,509	$1,058,585