LORETTO INDEPENDENT LIVING SERVICE… - Form 990 Financial Data

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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

1994

Legal Domicile

Principal Officer

KIMBERLY TOWNSEND

Phone

3154525800

Tax Period

2023-01-01 to 2023-12-31

LORETTO INDEPENDENT LIVING SERVICES INC DBA PACE CNY, founded in 1994, is a mid-sized nonprofit in the Human Services sector that reported $74.0M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum.

Mission

THE TAX EXEMPT PURPOSE OF THIS ORGANIZATION IS TO PROVIDE A WIDE SPECTRUM OF CARE AND SERVICES TO THE ELDERLY WHO WOULD OTHERWISE QUALIFY FOR NURSING HOME CARE. FROM PRIMARY CARE PHYSICIANS AND NURSE PRACTITIONERS TO SOCIAL WORKERS AND DIETICIANS, THE PACE CNY TEAM PROVIDES HOME CARE SERVICES IN THE PARTICIPANT'S HOME, DAY HEALTH CENTERS, HOSPITALS OR LONG TERM CARE FACILITIES WITH ON-CALL SERVICES AVAILABLE 24 HOURS A DAY, 7 DAYS A WEEK, 365 DAYS EACH YEAR.

Program Service Accomplishments

Program 1

Expenses: $52,774,276 Revenue: $68,657,713

PACE CNY CARES FOR INDIVIDUALS IN ONONDAGA COUNTY THAT ARE AGE 55 OR OLDER AND WOULD OTHERWISE NEED NURSING HOME CARE. PACE CNY PROVIDES SERVICES TO INDIVIDUALS TO HELP THEM TO LIVE SAFELY IN THE...

PACE CNY CARES FOR INDIVIDUALS IN ONONDAGA COUNTY THAT ARE AGE 55 OR OLDER AND WOULD OTHERWISE NEED NURSING HOME CARE. PACE CNY PROVIDES SERVICES TO INDIVIDUALS TO HELP THEM TO LIVE SAFELY IN THE COMMUNITY AS LONG AS POSSIBLE. PACE CNY PROVIDES ALL NEEDED MEDICAL AND SUPPORT SERVICES INCLUDING BUT NOT LIMITED TO; NURSING, PHYSICAL, OCCUPATIONAL AND RECREATIONAL THERAPIES; PHYSICIAN, HOME HEALTH AND PERSONAL CARE; NECESSARY PRESCRIPTION DRUGS, SOCIAL SERVICES, RESPITE CARE, HOSPITAL AND NURSING HOME CARE, AND SPECIALISTS SUCH AS AUDIOLOGY, DENTISTRY, OPTOMETRY, PODIATRY, AND SPEECH THERAPY.

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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 $1,313,339

Program Service Revenue $68,657,713

Investment Income $0

Other Revenue $4,065,541

TOTAL REVENUE $74,036,593

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,991,789

Fundraising Expenses $0

Program Expenses $52,774,276

Other Expenses $44,246,956

TOTAL EXPENSES $72,238,745

Year-over-Year Comparison

	2023	2022	Change
Revenue	$74,036,593	$60,091,908	+0.2%
Expenses	$72,238,745	$60,618,469	+0.2%
Net Income	$1,797,848	$-526,561	-4.4%

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

N/A

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

$1,207,509

Total Directors

$1,353,422

Key Employees

$405,174

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CORA ALSANTE	BOARD MEMBER	1.00	Director	$0	$0	$0
VICKI O'NEILL	BOARD MEMBER	1.00	Director	$0	$0	$0
BRENDA KO	BOARD MEMBER,	1.00	Director	$0	$0	$0
VINCENT SWEENEY	BOARD MEMBER	1.00	Director	$0	$0	$0
HOLLY HOEHNER	VP GENERAL COUNSEL, BOARD SECRETARY	1.00	Director	$0	$0	$272,837
JOHN MURRAY	CFO, BOARD MEMBER	1.00	Officer Director	$0	$0	$305,507
KIMBERLY TOWNSEND	PRESIDENT, BOARD CHAIR	1.00	Officer Director	$0	$0	$775,078
NANCY WILLIAMS	CHIEF PEOPLE OFFICER	1.00	Officer	$0	$0	$126,924
BRANDON CLAPS	CHIEF INFORMATION OFFICER	1.00	Key Emp	$0	$0	$210,362
STEPHANIE BUTTON	VP OF LORETTO INDEPENDENT LIVING SERVICES, INC.	1.00	Key Emp	$0	$0	$194,812
JENNIFER INGERSON	VP OF HOUSING	1.00	Highest	$0	$0	$202,284
JOELLE MARGREY	CNO	1.00	Highest	$0	$0	$241,541
JULIE SHEEDY	CHIEF MARKETING AND ENGAGEMENT OFFICER	1.00	Highest	$0	$0	$240,026
DAVID HEISIG	MEDICAL DIRECTOR	40.00	Highest	$0	$0	$274,997
LORI SAKALAS	FORMER CHIEF OPERATING OFFICER	1.00		$0	$1,946	$161,662

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	$74,036,593	$72,238,745	$32,923,880	$1,797,848
2022	$60,091,908	$60,618,469	$38,113,234	$-526,561
2021	$60,174,609	$60,927,747	$35,624,449	$-753,138
2020	$64,014,704	$64,511,542	$32,662,553	$-496,838

LORETTO INDEPENDENT LIVING SERVICES INC DBA PACE CNY