ST ANN'S FOUNDATION 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

1989

Legal Domicile

Principal Officer

MICHAEL MCRAE

Phone

5856976000

Tax Period

2023-01-01 to 2023-12-31

ST ANN'S FOUNDATION INC, founded in 1989, is a community nonprofit in the Health Care sector that reported $7.4M in total revenue in fiscal year 2023. Revenue surged 68% from the prior year, signaling strong growth momentum. Expenses of $11.0M exceeded revenue, resulting in a 50% operating deficit.

Mission

SINCE OUR FOUNDING IN 1874, OUR MISSION HAS BEEN TO PROMOTE THE HIGHEST LEVELS OF INDEPENDENCE, PHYSICAL AND SPIRITUAL WELL-BEING OF OLDER ADULTS IN THE CATHOLIC TRADITION OF EXCELLENCE IN CARE AND SERVICES. TO FULFILL THIS MISSION, ST. ANN'S COMMUNITY OFFERS A CONTINUUM OF SERVICES FOR SENIORS IN THE GREATER ROCHESTER AREA. ST. ANN'S COMMUNITY, OTHERWISE KNOWN AS ST. ANN'S OF GREATER ROCHESTER, INC., DELIVERS THESE SERVICES THROUGH THESE AFFILIATED ORGANIZATIONS: ST. ANN'S HOME FOR THE AGED, ST. ANN'S NURSING HOME COMPANY, INC., CHAPEL OAKS, INC., ST. ANN'S FOUNDATION, INC. ST. ANN'S SENIOR HOUSING, INC. , AND ST ANN'S GREENS OF LEROY, INC.ST. ANN'S FOUNDATION, INC. EXISTS TO FOSTER FINANCIAL SUPPORT FOR ALL OF ST. ANN'S COMMUNITY. ESTABLISHED IN 1989, ST. ANN'S FOUNDATION WAS CREATED TO MATCH FINANCIAL SUPPORT WITH THE PROGRAMS AND INITIATIVES THROUGHOUT ST. ANN'S COMMUNITY THAT ARE PART OF THIS ORGANIZATION'S CONTINUUM OF HEALTH AND RESIDENTIAL SERVICES.

Program Service Accomplishments

Program 1

Expenses: $10,172,698

ST. ANN'S FOUNDATION, INC. EXISTS TO FOSTER FINANCIAL SUPPORT FOR ALL OF ST. ANN'S COMMUNITY. THROUGH FUNDRAISING EVENTS, GRANT WRITING, AND INDIVIDUAL GIVING, THE FOUNDATION SECURED CONTRIBUTIONS TO DIRECTLY SUPPORT PROGRAMS, EQUIPMENT AND SCHOLARSHIP PROGRAMS THAT DIRECTLY BENEFITED THE SENIORS SERVED BY ST. ANN'S COMMUNITY.

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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 $2,067,244

Program Service Revenue $0

Investment Income $5,287,436

Other Revenue $0

TOTAL REVENUE $7,354,680

Expense Breakdown

Grants Paid $10,146,453

Salaries & Benefits $547,602

Fundraising Expenses $60,222

Program Expenses $10,172,698

Other Expenses $319,907

TOTAL EXPENSES $11,013,962

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,354,680	$4,370,419	+0.7%
Expenses	$11,013,962	$9,785,649	+0.1%
Net Income	$-3,659,282	$-5,415,230	-0.3%

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

N/A

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

$1,036,530

Total Directors

$547,231

Key Employees

$193,040

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICOLE MARRO	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MCRAE	PRESIDENT/CEO	1.00	Officer Director	$0	$23,829	$547,231
BERNIE IACOVANGELO	DIRECTOR	1.00	Director	$0	$0	$0
KEN FISKE	DIRECTOR	1.00	Director	$0	$0	$0
GREG KAUSCH	DIRECTOR	1.00	Director	$0	$0	$0
JACK DOYLE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN HAYES	DIRECTOR	1.00	Director	$0	$0	$0
CATHY RIGGIO	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL BANDYCH	CHAIR	1.00	Officer Director	$0	$0	$0
RITA NISCHAL	DIRECTOR	1.00	Director	$0	$0	$0
MARK CRONIN	DIRECTOR	1.00	Director	$0	$0	$0
LINDSAY CONNELLY	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GUADAGNINO	DIRECTOR	1.00	Director	$0	$0	$0
PAUL GUGLIELMO	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS KANT	SVP/CFO TO 3/11/2023	1.00	Officer	$0	$19,528	$305,868
KEVIN BROWN	SVP/CFO FROM 2/27/2023	1.00	Officer	$0	$5,421	$183,431
JODI REVILL	VP OF FOUNDATION	40.00	Key Emp	$0	$4,664	$193,040

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	$7,354,680	$11,013,962	$40,716,431	$-3,659,282
2022	$4,370,419	$9,785,649	$44,205,277	$-5,415,230
2021	$4,860,702	$5,528,257	$59,915,340	$-667,555
2020	$4,142,097	$2,765,138	$56,157,401	$1,376,959
2019	$6,053,614	$6,383,395	$53,784,909	$-329,781
2018	$4,360,312	$2,363,572	$48,063,287	$1,996,740