The Hebrew Home for the Aged at Ri… - 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

2006

Legal Domicile

Phone

7185811000

Tax Period

2023-01-01 to 2023-12-31

The Hebrew Home for the Aged at Riverdale Foundation Inc, founded in 2006, is a community nonprofit in the Crime & Legal sector that reported $8.5M in total revenue in fiscal year 2023. Expenses of $28.7M exceeded revenue, resulting in a 236% operating deficit.

Mission

THE HEBREW HOME FOR THE AGED AT RIVERDALE FOUNDATION, INC. (THE FOUNDATION) OPERATES EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES. IT IS THE MISSION OF THE FOUNDATION TO PROVIDE ASSISTANCE AND GRANTS THROUGH THE SOLICITATION, RECEIPT AND DISBURSEMENT OF FUNDS, INCOME AND REAL OR TANGIBLE PERSONAL PROPERTY OBTAINED BY BEQUESTS, GIFTS, DONATIONS, OR OTHERWISE TO THE HEBREW HOME FOR THE AGED AT RIVERDALE, AND ITS AFFILIATES, RIVERDALE TERRACE HOUSING DFC, INC., HEBREW HOME HOUSING DEVELOPMENT FUND COMPANY, INC., THE NATIONAL ALZHEIMER CENTER, INC., RIVERSPRING LICENSED HOME CARE SERVICES AGENCY INC. (FORMERLY KNOWN AS ELDERSERVE LICENSED HOME CARE SERVICES AGENCY INC.), HUDSON HOUSE HOUSING DEVELOPMENT FUND COMPANY, INC. D/B/A HUDSON HOUSE, ELDERSERVE HEALTH, INC. D/B/A RIVERSPRING HEALTH PLANS, AND ANY OTHER ENTITY DEDICATED TO SENIOR CARE OR SENIOR RESEARCH, PROVIDED THE RECIPIENT OF THE ASSISTANCE OR GRANT IS QUALIFIED UNDER SECTION 501(3) OF THE CODE AND SUCH RECIPIENT IS NOT A PRIVATE FOUNDATION PURSUANT TO SECTION 509(A) OF THE CODE. HEBREW HOME FOR THE AGED AT RIVERDALE FOUNDATION, INC. IS PART OF RIVERSPRING LIVING, A GROUP OF LONG TERM CARE AFFILIATES UNDER THIS COMMON BRAND NAME. RIVERSPRING LIVING SERVES OLDER ADULTS OF ALL FAITHS THROUGH COMPASSIONATE CARE AND VIBRANT COMMUNITY ENGAGEMENT. GUIDED BY JEWISH VALUES AND OUR NON-PROFIT MISSION, IT ADVOCATES AND CELEBRATES A VISION OF EMPOWERED AGING. RIVERSPRING LIVING'S PROGRAMS AND SERVICES INCLUDE MANAGED CARE, SENIOR HOUSING, HOME CARE, ASSISTED LIVING, REHABILITATION AND SKILLED NURSING SERVICES AND SPECIALIZED SERVICES SUCH AS ELDER JUSTICE AND MEMORY CARE. COLLECTIVELY, RIVERSPRING EMPOWERS OVER 18,000 PATIENTS, RESIDENTS AND MEMBERS TO LIVE FORWARD EVERY DAY.

Program Service Accomplishments

Program 1

Expenses: $26,076,813

HEBREW HOME FOR THE AGED AT RIVERDALE FOUNDATION, INC. PROVIDES ASSISTANCE TO PROGRAMS FOR OLDER ADULTS IN THE NEW YORK AREA.

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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 $8,004,180

Program Service Revenue $0

Investment Income $897,118

Other Revenue $-359,991

TOTAL REVENUE $8,541,307

Expense Breakdown

Grants Paid $25,849,491

Salaries & Benefits $1,047,965

Fundraising Expenses $1,262,023

Program Expenses $26,076,813

Other Expenses $1,699,009

TOTAL EXPENSES $28,685,019

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,541,307	$8,204,989	+0.0%
Expenses	$28,685,019	$20,153,215	+0.4%
Net Income	$-20,143,712	$-11,948,226	+0.7%

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

$2,447,247

Total Directors

Key Employees

$943,821

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Chairman	1.0	Officer Director	$0	$0	$0
N/A	Treasurer/Secretary	1.0	Officer Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Interim CFO	1.0	Officer	$0	$62,127	$381,356
N/A	President, CEO	1.0	Officer	$0	$66,119	$2,065,891
N/A	Chief Operating Officer	1.0	Key Emp	$0	$32,203	$943,821
N/A	Chief Development Officer	35.0	Highest	$442,514	$43,115	$485,629
N/A	VP of Development	35.0	Highest	$118,283	$17,253	$135,536
N/A	Grants Manager	35.0	Highest	$137,529	$33,663	$171,192

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	$8,541,307	$28,685,019	$67,039,928	$-20,143,712
2022	$8,204,989	$20,153,215	$98,422,846	$-11,948,226
2021	$14,129,144	$10,437,442	$107,017,435	$3,691,702
2020	$20,564,214	$33,634,523	$109,444,221	$-13,070,309
2019	$9,825,209	$18,494,689	$90,644,460	$-8,669,480
2018	$6,716,842	$2,050,874	$83,000,118	$4,665,968

The Hebrew Home for the Aged at Riverdale Foundation Inc