LIFE ADJUSTMENT CENTER INC

EIN: 133620577 501(c)(3) Education

NEW YORK, NY

Total Revenue
$13,237,892
Total Expenses
$12,892,143
Total Assets
$8,578,226
Net Assets
$3,935,453
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
NY
Principal Officer
ALEX CORONEOS
Phone
2129381223
Tax Period
2024-07-01 to 2025-06-30

LIFE ADJUSTMENT CENTER INC, founded in 1991, is a mid-sized nonprofit in the Education sector that reported $13.2M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF THE LIFE ADJUSTMENT CENTER (LAC) IS TO OPTIMIZE THEQUALITY OF LIFE FOR THE DEVELOPMENTALLY DISABLED CHILDREN AND ADULTPOPULATION AND THEIR FAMILIES BY PROVIDING QUALITY, STATE-OF-THE-ARTHEALTH CARE SERVICES, IN A CHANGING AND CHALLENGING ENVIRONMENT.

Program Service Accomplishments

Program 1
Expenses: $7,003,349 Revenue: $8,859,048

RESIDENTIAL CARE - PROVIDER OF RESIDENTIAL CLINICAL SUPPORT AND SERVICES TO THE DEVELOPMENTALLY DISABLED INDIVIDUALS.

Program 2
Expenses: $2,456,682 Revenue: $2,577,305

DAY HABILITATION - PROVIDES ASSISTANCE WITH ACQUIRING, RETAINING ANDIMPROVING SELF HELP SOCIALIZATION & ADAPTIVE SKILLS IN A SETTING OTHERTHAN A PERSON'S RESIDENCE.

Program 3
Expenses: $312,956 Revenue: $473,896

COMMUNITY HABILITATION AND GROUP COMMUNITY HABILITATION/RESIDENTIAL - PROVIDES ASSISTANCE WITH ACQUIRING, RETAINING AND IMPROVING SKILLS IN THE ACTIVITIES OF DAILY LIVING AT A RESIDENCE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $13,142,923
Investment Income $26,314
Other Revenue $68,655
TOTAL REVENUE $13,237,892

Expense Breakdown

Grants Paid $0
Salaries & Benefits $8,673,362
Fundraising Expenses $0
Program Expenses $11,299,127
Other Expenses $4,218,781
TOTAL EXPENSES $12,892,143

Year-over-Year Comparison

2024 2023 Change
Revenue $13,237,892 $11,767,017 +0.1%
Expenses $12,892,143 $12,262,019 +0.1%
Net Income $345,749 $-495,002 -1.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
205
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
4
$182,103
Total Directors
9
$182,103
Key Employees
1
$186,510
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GARY MCKAY BOARD PRESIDENT 1.00
Officer Director
$0 $0 $0
ERIC FOODIM BOARD TREASURER 1.00
Officer Director
$0 $0 $0
NYDIA MENDEZ BOARD SECRETARY 1.00
Officer Director
$0 $0 $0
ALEX CORONEOS EXECUTIVE DIRECTOR 40.00
Officer Director
$173,929 $8,174 $182,103
FRED ROMERO BOARD DIRECTOR 1.00
Director
$0 $0 $0
CONSTANCE BROWN BELLAMY BOARD DIRECTOR 1.00
Director
$0 $0 $0
GEORGE SANTANA BOARD DIRECTOR 1.00
Director
$0 $0 $0
DR ANTHONY LECHICH BOARD DIRECTOR 1.00
Director
$0 $0 $0
TINA VEALE BOARD DIRECTOR 1.00
Director
$0 $0 $0
ANGELA WALDRON RESIDENTIAL COORDINATOR 40.00
Key Emp
$179,130 $7,380 $186,510
SETH BRESSMAN FORMER DIRECTOR OF FINANCE 40.00
Highest
$265,607 $11,083 $276,690
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 $13,237,892 $12,892,143 $8,578,226 $345,749
2024 $11,767,017 $12,262,019 $9,365,741 $-495,002
2023 $12,736,697 $12,015,698 $8,800,146 $720,999
2022 $11,776,959 $11,202,597 $6,341,368 $574,362
2021 $9,560,061 $9,648,687 $5,492,484 $-88,626
2020 $10,298,132 $10,906,155 $5,546,450 $-608,023
2019 $10,318,905 $10,520,403 $4,728,810 $-201,498
2018 $9,733,066 $9,774,295 $4,893,682 $-41,229
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