FAIRHAVEN HEALTHCARE CENTER INC C/O ATHENA HEALTH CARE ASSOCIATES

EIN: 208745264 501(c)(3)

LOWELL, MA

Total Revenue
$11,897,110
Total Expenses
$14,975,809
Total Assets
$23,711,383
Net Assets
$-10,169,249
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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
2007
Legal Domicile
MA
Principal Officer
RAYMOND DENEHEY
Phone
9784583388
Tax Period
2021-01-01 to 2021-12-31

FAIRHAVEN HEALTHCARE CENTER INC C/O ATHENA HEALTH CARE ASSOCIATES, founded in 2007, is a mid-sized nonprofit that reported $11.9M in total revenue in fiscal year 2021. Revenue decreased 16% compared to the prior year. Expenses of $15.0M exceeded revenue, resulting in a 26% operating deficit.

Mission

IT IS THE MISSION OF FAIRHAVEN HEALTHCARE CENTER, INC. TO PROVIDE ELDERS WITH DYNAMIC, MEANINGFUL AND SUPPORTIVE LIVING ENVIRONMENTS, INTEGRATING QUALITY CARE, EDUCATION AND RESEARCH, RESPECT FOR INDIVIDUALITY AND THE HUMAN SPIRIT, AND INNOVATIVE APPPROACHES TO MEET THE EVER CHANGING NEEDS OF THE COMMUNITIES WE SERVE.

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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%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $620,649
Program Service Revenue $11,270,827
Investment Income $703
Other Revenue $4,931
TOTAL REVENUE $11,897,110

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,555,680
Fundraising Expenses $0
Program Expenses $13,270,378
Other Expenses $7,420,129
TOTAL EXPENSES $14,975,809

Year-over-Year Comparison

2021 2020 Change
Revenue $11,897,110 $14,216,975 -0.2%
Expenses $14,975,809 $16,813,361 -0.1%
Net Income $-3,078,699 $-2,596,386 +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

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
5
Employees
174
Volunteers
6

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
$60,000
Total Directors
6
$60,000
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL TAKESIAN ADMINISTRATOR 40.00
Highest
$167,242 $12,043 $179,285
EMILY GETCHELL DNS 40.00
Highest
$144,443 $0 $144,443
SAMANTHA CHUUN LPN 40.00
Highest
$129,795 $12,043 $141,838
DEBORAH LISIECKI REHAB DIRECTOR 40.00
Highest
$116,142 $0 $116,142
LISA EDZIE RN 40.00
Highest
$114,131 $0 $114,131
RAYMOND DENNEHY PRESIDENT 1.00
Officer Director
$43,200 $0 $60,000
JOEL KIRCHICK DIRECTOR 1.00
Officer Director
$0 $0 $0
GINA QUEIROS MEMBER 1.00
Director
$0 $0 $0
MICHAEL MOORE DIRECTOR 1.00
Director
$0 $0 $0
ROBERT GREER VANTUYL MEMBER 1.00
Director
$0 $0 $0
JEFFREY WITHERELL DIRECTOR 1.00
Director
$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
2021 $11,897,110 $14,975,809 $23,711,383 $-3,078,699
2020 $14,216,975 $16,813,361 $25,516,833 $-2,596,386
2019 $15,143,251 $17,123,153 $23,100,413 $-1,979,902
2018 $15,479,414 $16,334,942 $24,985,465 $-855,528
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