RICHMOND CHILDREN CENTER INC

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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

1972

Legal Domicile

Principal Officer

STANOJKA LIPOVAC

Phone

9144714100

Tax Period

2023-01-01 to 2023-12-31

RICHMOND CHILDREN CENTER INC, founded in 1972, is a mid-sized nonprofit in the Mental Health sector that reported $46.2M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

RICHMOND COMMUNITY SERVICES, IN PARTNERSHIP WITH ALL MEMBERS OF THE COMMUNITY, SUPPORTS CHILDREN AND ADULTS WITH DEVELOPMENTAL DISABILITIES AND THEIR FAMILIES, TO ACHIEVE THE HIGHEST QUALITY OF LIFE THROUGH INDIVIDUALIZED SERVICES, LIFE ENHANCING STRATEGIES, EDUCATION, AND ADVOCACY, WITH PARTICULAR EXPERTISE IN MEETING THE NEEDS OF THOSE WITH COMPLEX HEALTH ISSUES.

Program Service Accomplishments

Program 1

Expenses: $37,092,421 Revenue: $36,875,253

OPERATION OF RESIDENTIAL PROGRAMS FOR CHILDREN AND ADULTS WITH MENTAL AND PHYSICAL HANDICAPS. THE RESIDENTIAL PROGRAMS AT RICHMOND PROVIDE CARING FAMILY-LIKE ENVIRONMENTS COMBINED WITH EXPERT SUPPORT FOR OUR RESIDENTS. WE PROVIDE HOME-LIKE RESIDENCES AND 24 HOUR/7 DAY PER WEEK SPECIALIZED SUPPORTS. RICHMOND IS A LEADER IN PROVIDING CARE TO INDIVIDUALS WHO HAVE COMPLEX MEDICAL NEEDS, AND ENHANCING THE ABILITIES OF THESE MOST FRAGILE INDIVIDUALS.

Program 2

Expenses: $5,294,503 Revenue: $6,573,402

OPERATION OF DAY PROGRAMS FOR CHILDREN AND ADULTS WITH MENTAL AND PHYSICAL HANDICAPS. THE DAY PROGRAMS OPERATED BY RICHMOND PROVIDE EXPERT SUPPORT AND CARING STAFF. THROUGH THESE PROGRAMS WE PROVIDE...

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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 $2,220,640

Program Service Revenue $43,332,760

Investment Income $404,941

Other Revenue $240,804

TOTAL REVENUE $46,199,145

Expense Breakdown

Grants Paid $0

Salaries & Benefits $35,373,982

Fundraising Expenses $0

Program Expenses $42,386,924

Other Expenses $13,476,127

TOTAL EXPENSES $48,850,109

Year-over-Year Comparison

	2023	2022	Change
Revenue	$46,199,145	$49,549,630	-0.1%
Expenses	$48,850,109	$49,316,096	0.0%
Net Income	$-2,650,964	$233,534	-12.4%

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

589

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

$747,549

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AKEEM JAMAL	DIRECTOR	1.00	Director	$0	$0	$0
ALAN REID	DIRECTOR	1.00	Director	$0	$0	$0
EUGENE BUCCINI	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
NICHOLAS SPANO	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
PAMELA DINGEE	DIRECTOR	1.00	Director	$0	$0	$0
PAULINE GALVIN	DIRECTOR	1.00	Director	$0	$0	$0
RAVI SARMA	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT SPOLZINO	DIRECTOR	1.00	Director	$0	$0	$0
STUART GOLDMAN	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN GOLDMAN	DIRECTOR	1.00	Director	$0	$0	$0
WARREN ROSENBERG	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW KAPLAN	VP FINANCIAL SERVICES/CFO	34.00	Officer	$256,071	$51,609	$307,680
STANOJKA LIPOVAC	PRESIDENT/CEO	34.00	Officer	$375,566	$64,303	$439,869
WALLACE JENKINS	MEDICAL DIRECTOR	35.00	Highest	$151,679	$7,679	$159,358
DAISY RAJAN	REGISTERED NURSE	35.00	Highest	$145,285	$7,264	$152,549
PREMAKUMARY JANARDHANNANPILIAI	REGISTERED NURSE	35.00	Highest	$141,114	$24,723	$165,837
TRACEY-ANN MORRISON	REGISTERED NURSE	35.00	Highest	$168,914	$25,404	$194,318
MARY ELLEN RYAN	NURSE PRACTITIONER	35.00	Highest	$149,837	$22,906	$172,743

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	$46,199,145	$48,850,109	$29,566,876	$-2,650,964
2022	$49,549,630	$49,316,096	$30,937,873	$233,534
2021	$46,486,122	$39,849,325	$29,574,027	$6,636,797
2020	$41,308,168	$40,909,364	$29,246,473	$398,804
2019	$41,835,936	$41,987,839	$23,043,304	$-151,903
2018	$42,089,934	$41,477,636	$24,286,137	$612,298