Home Care Options Inc (EIN 221589210) - Form 990 Financial Analysis & Trantor Score

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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

1954

Legal Domicile

Phone

9735231224

Tax Period

2023-01-01 to 2023-12-31

Home Care Options Inc, founded in 1954, is a community nonprofit in the Human Services sector that reported $2.7M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $3.0M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO SERVE THE EXPANDING AND EVOLVING IN-HOME NEEDS OF RESIDENTS OF NORTHERN NJ.

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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 $2,631,541

Investment Income $34,079

Other Revenue $1,583

TOTAL REVENUE $2,667,203

Expense Breakdown

Grants Paid $2,179

Salaries & Benefits $2,697,132

Fundraising Expenses $0

Program Expenses $2,536,418

Other Expenses $270,850

TOTAL EXPENSES $2,970,161

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,667,203	$2,946,184	-0.1%
Expenses	$2,970,161	$3,172,431	-0.1%
Net Income	$-302,958	$-226,247	+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

132

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

$917,112

Total Directors

$762,665

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	SECRETARY/TRUSTEE	1.0	Officer Director	$0	$0	$0
N/A	COMPLIANCE OFFICER/TRUSTEE	1.0	Officer Director	$0	$0	$0
N/A	PRESIDENT/CEO/TRUSTEE	1.0	Officer Director	$0	$46,370	$762,665
N/A	PRESIDENT/TRUSTEE	1.0	Officer Director	$0	$0	$0
N/A	TREASURER/TRUSTEE	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	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	TRUSTEE	1.0	Director	$0	$0	$0
N/A	EXECUTIVE DIRECTOR	40.0	Officer	$142,376	$12,071	$154,447

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	$2,667,203	$2,970,161	$2,578,924	$-302,958
2022	$2,946,184	$3,172,431	$2,885,000	$-226,247
2022	$2,946,184	$3,172,431	$2,885,000	$-226,247
2021	$5,110,112	$3,720,073	$3,167,935	$1,390,039
2020	$4,297,023	$3,967,636	$1,806,928	$329,387
2019	$4,560,282	$5,033,302	$1,574,583	$-473,020
2018	$4,162,052	$4,630,139	$2,016,802	$-468,087

Home Care Options Inc