GERIATRIC SERVICES 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

1991

Legal Domicile

Principal Officer

ELIZABETH DAVIS

Phone

2016921000

Tax Period

2024-01-01 to 2024-12-31

GERIATRIC SERVICES INC, founded in 1991, is a community nonprofit in the Human Services sector that reported $4.5M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

OUR HEALTHCARE FACILITY PROVIDES SUPERVISED HOUSING AND CARE TO APPROXIMATELY 65 RESIDENTS AGED 60 AND OLDER WHO CAN NO LONGER LIVE INDEPENDENTLY AND HAVE LIMITED MEANS OF FINANCIAL SUPPORT.

Program Service Accomplishments

Program 1

Expenses: $4,297,412 Revenue: $3,299,306

THE BRIGHT SIDE FAMILY IS A NONPROFIT ORGANIZATION THAT PROVIDES AFFORDABLE HOUSING, ASSISTED LIVING, AND SUPPORT SERVICES TAILORED TO THE CHANGING NEEDS OF LOW- AND MODERATE-INCOME OLDER ADULTS...

THE BRIGHT SIDE FAMILY IS A NONPROFIT ORGANIZATION THAT PROVIDES AFFORDABLE HOUSING, ASSISTED LIVING, AND SUPPORT SERVICES TAILORED TO THE CHANGING NEEDS OF LOW- AND MODERATE-INCOME OLDER ADULTS. THROUGH OUR HEALTHCARE FACILITY, WE OFFER SUPERVISED HOUSING AND CARE TO APPROXIMATELY 65 RESIDENTS AGED 60 AND OLDER WHO CAN NO LONGER LIVE INDEPENDENTLY AND HAVE LIMITED FINANCIAL RESOURCES.

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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 $1,131,307

Program Service Revenue $3,299,306

Investment Income $7,925

Other Revenue $82,602

TOTAL REVENUE $4,521,140

Expense Breakdown

Grants Paid $110,000

Salaries & Benefits $3,070,869

Fundraising Expenses $56,061

Program Expenses $4,297,412

Other Expenses $1,316,113

TOTAL EXPENSES $4,496,982

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,521,140	$4,138,766	+0.1%
Expenses	$4,496,982	$3,930,802	+0.1%
Net Income	$24,158	$207,964	-0.9%

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

300

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

$152,240

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROLYN L LARKE	PRESIDENT	1.00	Officer Director	$0	$0	$0
MATTHEW LEBER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ILENE J MARCUS	TREASURER	1.00	Officer Director	$0	$0	$0
FRAN MONTELEONE RN	SECRETARY	1.00	Officer Director	$0	$0	$0
KAREN BLICK	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL CANDULLO	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN D'AMICO	TRUSTEE	1.00	Director	$0	$0	$0
MITCHELL DINNERSTEIN	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS J CIALLELLA	TRUSTEE	1.00	Director	$0	$0	$0
WENDY MCGUIRE	TRUSTEE	1.00	Director	$0	$0	$0
MARY ANN VAN CLIEF	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH DAVIS	EXECUTIVE DIRECTOR	35.00	Officer	$125,000	$27,240	$152,240

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	$4,521,140	$4,496,982	$19,867,222	$24,158
2023	$4,138,766	$3,930,802	$19,912,007	$207,964
2022	$4,268,218	$3,570,215	$19,731,101	$698,003
2021	$5,658,463	$2,910,338	$17,766,321	$2,748,125
2020	$3,152,845	$2,894,412	$16,488,062	$258,433
2019	$2,595,934	$2,703,078	$16,046,573	$-107,144
2018	$2,531,150	$2,656,037	$16,110,151	$-124,887