CCRC DEVELOPMENT CORPORATION

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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

2005

Legal Domicile

Principal Officer

ALBERT FRANCIS

Phone

4075436350

Tax Period

2023-01-01 to 2023-12-31

CCRC DEVELOPMENT CORPORATION, founded in 2005, is a mid-sized nonprofit in the Housing & Shelter sector that reported $13.4M in total revenue in fiscal year 2023. Revenue surged 115% from the prior year, signaling strong growth momentum. Expenses of $22.2M exceeded revenue, resulting in a 66% operating deficit.

Mission

TO PROVIDE HOUSING, HEALTHCARE AND ASSISTIVE SERVICES TO THE ELDERLY THROUGH THE DEVELOPMENT OF AND OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY FOR SENIORS WHEREBY THEY CAN FIND ENRICHMENT THROUGH LIFE-LONG LEARNING, STATE-OF-THE ART WELLNESS, AND PARTICIPATION IN THE DAILY ACTIVITIES OF THE UNIVERSITY OF CENTRAL FLORIDA ("UCF") BY INTEGRATING THE SERVICES OF UCF COLLEGES WITHIN THE CCRC AND PROVIDING INTERNSHIP OPPORTUNITIES FOR STUDENTS. WE WILL BRING THE LIFE EXPERIENCES OF THE MEMBERS OF THE CCRC TO THE STUDENTS OF THE UNIVERSITY THROUGH MENTORING AND THE DEVELOPMENT OF OTHER INTERGENERATIONAL PROGRAMS TO FACILITATE THE CREATION OF A MULTI-GENERATIONAL UNIVERSITY CAMPUS. WE WILL PARTNER WITH THE LEARNING INSTITUTE FOR ELDERS (LIFE) GROUP AT UCF, WHICH WILL PROVIDE EDUCATIONAL PROGRAMMING FOR THE MEMBERS OF THE CCRC.

Program Service Accomplishments

Program 1

Expenses: $19,156,520 Revenue: $12,288,389

ACTIVITIES TO DATE HAVE CONSISTED OF PLANNING, ARRANGING FOR INTERIM FINANCING, ACQUIRING LAND, PRE-MARKETING, AND DEVELOPMENT OF THE CONTINUING CARE RETIREMENT COMMUNITY ("CCRC") ADJACENT TO THE UCF CAMPUS. THE CCRC OPENED AT THE END OF DECEMBER 2021 AND HAS 140 INDEPENDENT LIVING APARTMENTS, 32 VILLAS, AND 48 ASSISTED LIVING APARTMENTS, 32 MEMORY SUPPORT APARTMENTS, AND 48 SKILLED NURSING BEDS.

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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 $12,288,389

Investment Income $1,120,747

Other Revenue $0

TOTAL REVENUE $13,409,136

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,883,787

Fundraising Expenses $0

Program Expenses $19,156,520

Other Expenses $18,312,994

TOTAL EXPENSES $22,196,781

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,409,136	$6,235,289	+1.2%
Expenses	$22,196,781	$12,092,773	+0.8%
Net Income	$-8,787,645	$-5,857,484	+0.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALBERT FRANCIS III	PRESIDENT	1.50	Director	$0	$0	$0
PHILIP ANDERSON	EXECUTIVE VP/TREASURER	1.50	Officer Director	$0	$0	$0
TERRY BANGS	DIRECTOR	1.50	Officer Director	$0	$0	$0
WARREN BLOOM	DIRECTOR	1.50	Officer Director	$0	$0	$0
TODD BOWERS	DIRECTOR	1.50	Director	$0	$0	$0
BARRY GOFF	DIRECTOR	1.50	Director	$0	$0	$0
ANTHONY LIGHTMAN	DIRECTOR	1.50	Director	$0	$0	$0
ADRIENNE FRAME	DIRECTOR	1.50	Director	$0	$0	$0
MARY LOU SOLE	DIRECTOR	1.50	Director	$0	$0	$0
ROBERT RIGEL	DIRECTOR	1.50	Director	$0	$0	$0
MARGERY PABST-STEINMETZ	DIRECTOR	1.50	Director	$0	$0	$0
DAVID KRAMER	EXECUTIVE DIRECTOR (BEG. 12/23)	40.00	Officer	$0	$0	$0
DOMENICA WEHMANN	EXECUTIVE DIRECTOR	40.00	Officer	$0	$0	$0

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	$13,409,136	$22,196,781	$167,664,067	$-8,787,645
2022	$6,235,289	$12,092,773	$211,986,794	$-5,857,484
2021	$4,252	$2,250,432	$180,986,624	$-2,246,180
2020	No data	$2,031,477	$177,040,822	No data
2019	No data	$2,678,985	$171,112,721	No data
2018	No data	$1,998,773	$21,291,651	No data