HARROGATE INC

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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

1982

Legal Domicile

Principal Officer

WILLIAM SLIVKA

Phone

7329057070

Tax Period

2024-01-01 to 2024-12-31

HARROGATE INC, founded in 1982, is a mid-sized nonprofit in the Health Care sector that reported $21.5M in total revenue in fiscal year 2024. Expenses of $23.8M exceeded revenue, resulting in a 11% operating deficit.

Mission

HARROGATE IS A CONTINUING RETIREMENT COMMUNITY COMMITTED TO DELIVERING THE HIGHEST QUALITY CARE LIFESTYLE FOR SENIORS. OUR DEDICATION TO EXCELLENCE IS EVIDENT BY OUR BELIEF IN PROVIDING CHOICE, INDEPENDENCE AND VALUE, WHILE CREATING MEANINGFUL RELATIONSHIPS AND EXPERIENCES BETWEEN RESIDENTS, FAMILIES AND STAFF.

Program Service Accomplishments

Program 1

Expenses: $19,296,343 Revenue: $21,098,227

THE ORGANIZATION PROVIDES INDEPENDENT LIVING HOUSING TO SENIORS AGE 62 AND ABOVE. OUR COMMUNITY HAS 247 APARTMENTS AVAILABLE. IN 2024, THE AVERAGE OCCUPANCY WAS 177 OR 71%. IN 2024, WE PROVIDED...

THE ORGANIZATION PROVIDES INDEPENDENT LIVING HOUSING TO SENIORS AGE 62 AND ABOVE. OUR COMMUNITY HAS 247 APARTMENTS AVAILABLE. IN 2024, THE AVERAGE OCCUPANCY WAS 177 OR 71%. IN 2024, WE PROVIDED 90,982 MEALS TO INDEPENDENT LIVING RESIDENTS, WE OFFERED AN AVERAGE OF 25 FITNESS CLASSES A WEEK, AND HAVE WEEKLY BUS TRIPS FOR CULTURAL AND ENTERTAINMENT ACTIVITIES FOR OUR RESIDENTS. WE SUPPORT SEVERAL CLUBS AT THE COMMUNITY INCLUDING CHORUS, ART CLASSES, BOOK CLUBS AND VARIOUS CARD AND GAME CLUBS.WE ALSO HAVE A 68 BED SKILLED NURSING CARE UNIT WHICH PROVIDES MAINTENANCE AND MEDICAL ASSISTANCE FOR RESIDENTS. IN 2024, THE AVERAGE OCCUPANCY WAS 59 BEDS OR 87%. THE AVERAGE NURSING HOURS PER PATIENT DAY WAS 3.31 IN 2024. WE PROVIDED 66,501 MEALS TO OUR SKILLED NURSING RESIDENTS AS WELL AS PROVIDING THERAPY AND ACTIVITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $281,253

Program Service Revenue $21,098,227

Investment Income $-108,952

Other Revenue $221,136

TOTAL REVENUE $21,491,664

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,494,695

Fundraising Expenses $0

Program Expenses $19,296,343

Other Expenses $12,274,604

TOTAL EXPENSES $23,769,299

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,491,664	$20,245,771	+0.1%
Expenses	$23,769,299	$21,960,933	+0.1%
Net Income	$-2,277,635	$-1,715,162	+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

281

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

$461,666

Total Directors

$5,000

Key Employees

$211,086

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM SLIVKA	PRESIDENT	10.00	Officer Director	$0	$0	$0
ROBERT ROMAN	TRUSTEE	10.00	Director	$0	$0	$0
PETER J WRIGHT	SECRETARY	10.00	Officer Director	$5,000	$0	$5,000
EDWIN J O'MALLEY	TRUSTEE	20.00	Director	$0	$0	$0
JOSEPH KAMSAR	TREASURER	10.00	Officer Director	$0	$0	$0
CHARLES BENJAMIN	EXECUTIVE DIRECTOR	40.00	Officer	$224,953	$3,295	$228,248
MARY-JO KINNEALLY	DIRECTOR OF FINANCIAL SERVICES	40.00	Officer	$194,883	$33,535	$228,418
GLORIA WALSH	ASSOCIATE EXEC. DIRECTOR	40.00	Key Emp	$195,917	$15,169	$211,086
MELISSA SERRA	DIRECTOR OF ADMISSIONS	40.00	Highest	$108,259	$24,051	$132,310
JODIE MEDHAUG	LIFE CARE CONSULTANT	40.00	Highest	$128,209	$16,124	$144,333
LISA BROSNAN	DIRECTOR OF NURSING	40.00	Highest	$154,836	$14,053	$168,889
KATHLEEN HANSEN	HUMAN RESOURCES DIRECTOR	40.00	Highest	$120,859	$23,382	$144,241
KEENAN MASTERSON	DIRECTOR OF FOOD SERVICE	40.00	Highest	$117,727	$10,303	$128,030

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	$21,491,664	$23,769,299	$30,191,870	$-2,277,635
2023	$20,245,771	$21,960,933	$32,190,645	$-1,715,162
2022	$18,534,691	$20,111,735	$33,167,221	$-1,577,044
2021	$19,988,142	$18,995,355	$32,163,275	$992,787
2020	$18,968,123	$18,255,905	$32,354,912	$712,218
2019	$17,114,365	$17,580,649	$32,265,746	$-466,284
2018	$16,964,811	$16,752,526	$32,798,073	$212,285