CARMEL RICHMOND NURSING HOME INC (EIN 132720248) - 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

1969

Legal Domicile

Principal Officer

SCOTT P LA RUE

Phone

6466334700

Tax Period

2023-01-01 to 2023-12-31

CARMEL RICHMOND NURSING HOME INC, founded in 1969, is a mid-sized nonprofit in the Health Care sector that reported $52.7M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $50.7M left a modest 4% surplus.

Mission

LOCATED IN STATEN ISLAND, ARCHCARE AT CARMEL RICHMOND IS A 300-BED SKILLED NURSING AND REHABILITATION FACILITY.CARMEL RICHMOND RESIDENTS RECEIVE CONTINUOUS, AROUND-THE-CLOCK SKILLED NURSING AND MEDICAL CARE. HEALTHCARE NEEDS ARE MET BY A TEAM OF 80 AFFILIATED PHYSICIANS AND MORE THAN 500 NURSES, PROFESSIONALS AND SUPPORT STAFF. SERVICES INCLUDE DENTISTRY, OPHTHALMOLOGY, AUDIOLOGY, SOCIAL SERVICES, PSYCHOLOGY, PODIATRY, NUTRITION THERAPY, AND RECREATION THERAPY.THROUGH ITS STATE-OF-THE-ART REHAB FACILITIES AND HIGHLY SKILLED REHABILITATION THERAPISTS, CARMEL RICHMOND HAS A PROVEN RECORD OF ACHIEVEMENT IN RESTORING RESIDENTS TO THEIR OPTIMAL LEVEL OF INDEPENDENCE. MORE THAN 90% OF THE PEOPLE ADMITTED TO THE CENTER FOR SHORT-TERM, INTENSIVE REHABILITATION RETURN TO THE COMMUNITY WITHIN THEIR TARGETED TIME FRAME.

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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 $3,018,113

Program Service Revenue $49,145,644

Investment Income $394,744

Other Revenue $150,539

TOTAL REVENUE $52,709,040

Expense Breakdown

Grants Paid $0

Salaries & Benefits $29,858,645

Fundraising Expenses $0

Program Expenses $42,329,821

Other Expenses $20,815,479

TOTAL EXPENSES $50,674,124

Year-over-Year Comparison

	2023	2022	Change
Revenue	$52,709,040	$47,352,663	+0.1%
Expenses	$50,674,124	$48,479,955	+0.0%
Net Income	$2,034,916	$-1,127,292	-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

511

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

$3,871,079

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANCIS J SERBAROLI ESQ	CHAIRMAN	0.10	Officer Director	$0	$0	$0
THOMAS M O'BRIEN	VICE-CHAIR	0.10	Officer Director	$0	$0	$0
DR TARA A CORTES	SECRETARY	0.10	Officer Director	$0	$0	$0
THOMAS E ALBERTO	BOARD MEMBER	0.10	Director	$0	$0	$0
STEVE BUJNO	BOARD MEMBER	0.10	Director	$0	$0	$0
JOHN CAHILL	BOARD MEMBER	0.10	Director	$0	$0	$0
JOHN T DUNLAP	BOARD MEMBER	0.10	Director	$0	$0	$0
MSGR CHARLES J FAHEY	BOARD MEMBER THRU NOV. 2023	0.10	Director	$0	$0	$0
THOMAS J FAHEY JR MD	BOARD MEMBER	0.10	Director	$0	$0	$0
ERIC P FELDMANN	BOARD MEMBER	0.10	Director	$0	$0	$0
SISTER SELINE FLORES	BOARD MEMBER	0.10	Director	$0	$0	$0
JOHN GLEASON	BOARD MEMBER	0.10	Director	$0	$0	$0
KAREN GRAY	BOARD MEMBER	0.10	Director	$0	$0	$0
CLARION E JOHNSON MD	BOARD MEMBER	0.10	Director	$0	$0	$0
RORY KELLEHER	BOARD MEMBER	0.10	Director	$0	$0	$0
MSGR JOSEPH LAMORTE	BOARD MEMBER	0.10	Director	$0	$0	$0
RICHARD PARK MD	BOARD MEMBER	0.10	Director	$0	$0	$0
KATHRYN ROONEY	BOARD MEMBER	0.10	Director	$0	$0	$0
JOSEPH SAPORITO	BOARD MEMBER	0.10	Director	$0	$0	$0
GT SWEENEY	BOARD MEMBER	0.10	Director	$0	$0	$0
GENNARO VASILE PHD	BOARD MEMBER	0.10	Director	$0	$0	$0
BISHOP GERALD WALSH	BOARD MEMBER	0.10	Director	$0	$0	$0
SCOTT P LA RUE	PRESIDENT & CEO	0.10	Officer	$0	$412,658	$2,053,206
ANNMARIE COVONE	EXECUTIVE VP/CFO	0.10	Officer	$0	$309,335	$1,402,472
MARY E FRANCIS	ADMINISTRATOR	37.50	Officer	$343,137	$72,264	$415,401
JANET BELOY	RN/RN SUPERVISOR	37.50	Highest	$230,782	$23,464	$254,246
GINA M ESPOSITO	CHIEF CLINICAL OFFICER	37.50	Highest	$223,580	$41,400	$264,980
OLIDICHE PHILEMOND	RN	37.50	Highest	$169,161	$13,517	$182,678
NOHEMI MANDILE	RN	37.50	Highest	$154,614	$20,263	$174,877
KRISTEN A LONG	DIRECTOR OF NURSING	37.50	Highest	$155,663	$0	$155,663

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	No data	No data	No data	No data
2023	$52,709,040	$50,674,124	$53,633,342	$2,034,916
2022	$47,352,663	$48,479,955	$52,011,154	$-1,127,292
2021	$48,780,538	$47,112,458	$55,443,617	$1,668,080
2020	$47,075,656	$45,019,067	$54,670,949	$2,056,589
2019	$46,720,899	$43,764,375	$52,633,725	$2,956,524
2018	$46,486,902	$43,132,477	$47,389,553	$3,354,425

CARMEL RICHMOND NURSING HOME INC