CARES OF NY 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

1990

Legal Domicile

Principal Officer

MICHELLE SANDOZ-DENNIS

Phone

5184894130

Tax Period

2024-05-01 to 2025-04-30

CARES OF NY INC, founded in 1990, is a mid-sized nonprofit that reported $17.8M in total revenue in fiscal year 2024.

Mission

TO COLLABORATE WITH AND SUPPORT OUR COMMUNITIES TOWARDS THE CREATION OF SYSTEMS THAT END AND PREVENT HOMELESSNESS.

Program Service Accomplishments

Program 1

Expenses: $15,507,537 Revenue: $896,840

IN THE LAST YEAR CARES PROVIDED HOUSING RELATED TECHNICAL ASSISTANCE AND CONSULTING TO GOVERNMENTAL AND NOT-FOR-PROFIT AGENCIES.

Program 2

Expenses: $2,010,151 Revenue: $400,631

HOUSING PROPERTY MANAGEMENT MAINTAINS OVER 39 APARTMENT UNITS THAT ARE SERVING INDIVIDUALS AND FAMILIES WHO HAVE BEEN HOMELESS.

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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 $16,498,069

Program Service Revenue $1,297,431

Investment Income $3,678

Other Revenue $40

TOTAL REVENUE $17,799,218

Expense Breakdown

Grants Paid $12,027,778

Salaries & Benefits $5,024,327

Fundraising Expenses $0

Program Expenses $17,517,688

Other Expenses $1,133,751

TOTAL EXPENSES $18,185,856

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,799,218	$17,612,240	+0.0%
Expenses	$18,185,856	$17,796,813	+0.0%
Net Income	$-386,638	$-184,573	+1.1%

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

$184,189

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AUDRA HIGGINS	CHAIR	1.00	Officer Director	$0	$0	$0
STEVE GOETZ	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SCOTT JORALEMON	SECRETARY	1.00	Officer Director	$0	$0	$0
RUTH KASSEL	TREASURER	1.00	Officer Director	$0	$0	$0
KATHY LEYDEN	MEMBER	1.00	Director	$0	$0	$0
DEBORAH HOUSE	MEMBER	1.00	Director	$0	$0	$0
DAVID R WARREN	MEMBER	1.00	Director	$0	$0	$0
REBECCA VINCENT	MEMBER	1.00	Director	$0	$0	$0
MICHELLE SANDOZ-DENNIS	CEO (STARTING 12/1/24)	40.00	Officer	$154,245	$29,944	$184,189
NANCY HARRINGTON	EXECUTIVE DIRECTOR (ENDING 12/5/24)	40.00		$151,401	$6,721	$158,122

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	$17,799,218	$18,185,856	$7,108,374	$-386,638
2024	$17,612,240	$17,796,813	$7,722,798	$-184,573
2023	$14,973,146	$14,409,912	$8,227,771	$563,234
2022	$15,625,505	$12,943,758	$7,731,282	$2,681,747
2021	$9,899,842	$9,619,803	$5,048,139	$280,039
2020	$8,037,521	$8,204,834	$3,754,838	$-167,313
2019	$6,846,259	$6,819,039	$3,874,466	$27,220