THE CARMELITE SYSTEM 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

1999

Legal Domicile

Principal Officer

PATRICIA GATHERS

Phone

5185377500

Tax Period

2023-01-01 to 2023-12-31

THE CARMELITE SYSTEM INC, founded in 1999, is a mid-sized nonprofit that reported $10.6M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $3.3M, a strong 31% operating margin.

Mission

THE CARMELITE SYSTEM FOSTERS THE HEALING MINISTRY OF CHRIST IN CATHOLIC HEALTH CARE BY PROCLAIMING THE VALUE AND DIGNITY OF THE AGED AND INFIRM AND PROVIDING COLLABORATIVE WAYS TO MEET THE NEEDS OF TODAY'S ELDERLY, A COMMITMENT TO COMPASSIONATE, LOVING CARE OF THE HIGHEST STANDARDS WITH WISE STEWARDSHIP OF RESOURCES IS THE HALLMARK OF PROGRAMS AND SERVICES RENDERED.

Program Service Accomplishments

Program 1

Expenses: $7,367,172 Revenue: $9,489,662

THE CARMELITE SYSTEM, INC., PROVIDES ASSISTANCE AND SUPPORT SERVICES FOR ITS CONTRACTED AFFILIATED MEMBERS TO PROMOTE EFFICIENT, EFFECTIVE, AND QUALITY LONG-TERM HEALTH CARE SERVICES. THERE ARE...

THE CARMELITE SYSTEM, INC., PROVIDES ASSISTANCE AND SUPPORT SERVICES FOR ITS CONTRACTED AFFILIATED MEMBERS TO PROMOTE EFFICIENT, EFFECTIVE, AND QUALITY LONG-TERM HEALTH CARE SERVICES. THERE ARE THIRTEEN DOMESTIC CONTRACTED AFFILIATES LOCATED IN SEVEN STATES AND ONE AFFILIATE LOCATED IN IRELAND THAT PROVIDE SKILLED NURSING, ASSISTED LIVING AND INDEPENDENT LIVING SERVICES FOR APPROXIMATELY 3,000 RESIDENTS.

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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 $0

Program Service Revenue $9,489,662

Investment Income $1,148,555

Other Revenue $0

TOTAL REVENUE $10,638,217

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,749,651

Fundraising Expenses $0

Program Expenses $7,367,172

Other Expenses $1,617,521

TOTAL EXPENSES $7,367,172

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,638,217	$11,425,004	-0.1%
Expenses	$7,367,172	$7,215,553	+0.0%
Net Income	$3,271,045	$4,209,451	-0.2%

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

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

$761,648

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SR JEANNE FRANCIS HALEY O CARM	VICE CHAIRPERSON	1.00	Officer Director	$0	$0	$0
MOTHER MARY ROSE HEERY O CARM	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
FR BRIAN E MCWEENEY	TREASURER	1.00	Officer Director	$0	$0	$0
DEBORAH DAMM OBRIEN ESQ	SECRETARY	1.00	Officer Director	$0	$0	$0
JAMES D CAMERON	MEMBER	1.00	Director	$0	$0	$0
KATHLEEN A CURRAN	MEMBER	1.00	Director	$0	$0	$0
SR M PETER LILLIAN DIMARIA	MEMBER	1.00	Director	$0	$0	$0
ARTHUR DINAPOLI MD PHD	MEMBER	1.00	Director	$0	$0	$0
JANET K FELDKAMP RN BSN LNHA JD	MEMBER	1.00	Director	$0	$0	$0
SR CYRIL METHODIUS KASPER O CARM	MEMBER	1.00	Director	$0	$0	$0
JOHN J MCCRORY	MEMBER	1.00	Director	$0	$0	$0
SR MAUREEN MURRAY	MEMBER	1.00	Director	$0	$0	$0
SISTER MARK LOUIS RANDALL O CARM	MEMBER	1.00	Director	$0	$0	$0
MARY CAROL SULLIVAN	MEMBER	1.00	Director	$0	$0	$0
PATRICIA GATHERS	PRESIDENT/ CEO	20.00	Officer	$712,713	$48,935	$761,648
JUDITH L NADERHOFF	FORMER CFO	40.00	Highest	$219,675	$2,217	$221,892
ROBERTA A KOZLAREK	VICE PRESIDENT	40.00	Highest	$261,328	$24,681	$286,009
ANDREW ROSSETTI	REGIONAL VP OF FINANCE	40.00	Highest	$188,676	$22,606	$211,282
KAREN G REICH	COO	39.00	Highest	$583,671	$47,870	$631,541
LINDA RODRIGUEZ	DIRECTOR OF QUALITY AND SAFETY	40.00	Highest	$157,482	$1,741	$159,223

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	$10,638,217	$7,367,172	$21,274,263	$3,271,045
2022	$11,425,004	$7,215,553	$17,029,971	$4,209,451
2021	$9,589,225	$9,747,288	$17,222,585	$-158,063
2020	$5,460,900	$8,041,456	$21,133,590	$-2,580,556
2019	$5,138,039	$7,039,008	$9,326,426	$-1,900,969
2018	$4,553,853	$5,107,583	$8,559,209	$-553,730