CENTRASTATE ASSISTED LIVING 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

1998

Legal Domicile

Principal Officer

HELEYNE GLADSTEIN

Phone

7322947050

Tax Period

2023-01-01 to 2023-12-31

CENTRASTATE ASSISTED LIVING INC, founded in 1998, is a community nonprofit in the Human Services sector that reported $5.7M in total revenue in fiscal year 2023. Expenses of $7.2M exceeded revenue, resulting in a 27% operating deficit.

Mission

PROVIDING HOME-LIKE ENVIRONMENT, PERSONALIZED SUPPORTIVE SERVICES AND HEALTHCARE DESIGNED TO RESPOND TO INDIVIDUAL NEEDS OF THOSE WHO REQUIRE HELP IN DAILY ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $6,503,426 Revenue: $5,527,974

MONMOUTH CROSSING OWNS AND OPERATES AN ASSISTED LIVING FACILITY FOR THE ELDERLY CONSISTING OF 76 UNITS WITH 16 UNITS FOR MEMORY CARE. THE FACILITY PROVIDES RESIDENTS WITH SPECIAL NEEDS AND...

MONMOUTH CROSSING OWNS AND OPERATES AN ASSISTED LIVING FACILITY FOR THE ELDERLY CONSISTING OF 76 UNITS WITH 16 UNITS FOR MEMORY CARE. THE FACILITY PROVIDES RESIDENTS WITH SPECIAL NEEDS AND MEMORY-RELATED DISEASES: RECEIVE COMPREHENSIVE, ATTENTIVE SERVICES IN A SAFE ENVIRONMENT WHERE SPECIALIZED ACTIVITIES AND PROGRAMMING ARE PROVIDED. MONMOUTH CROSSING OFFERS SERVICES TO RESIDENTS OF LOW AND MODERATE MEANS AND THOSE ON MEDICAID AS WELL.

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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 $146,204

Program Service Revenue $5,527,974

Investment Income $14,429

Other Revenue $0

TOTAL REVENUE $5,688,607

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,117,111

Fundraising Expenses $0

Program Expenses $6,503,426

Other Expenses $2,108,915

TOTAL EXPENSES $7,226,026

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,688,607	$5,411,060	+0.1%
Expenses	$7,226,026	$6,703,350	+0.1%
Net Income	$-1,537,419	$-1,292,290	+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

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

$1,113,697

Total Directors

$1,776,370

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS W SCOTT fache	VICE CHAIR-TRST/CSMC PRES/CEO	55.0	Officer Director	$0	$56,253	$926,522
JOHN A DELLOCONO	TRUSTEE - CSMC SVP/CFO	55.0	Director	$0	$59,705	$662,673
HELEYNE GLADSTEIN	TRUSTEE - DIRECTOR	40.0	Officer Director	$143,196	$43,979	$187,175
GINA N AKABA	LPN	40.0	Highest	$112,569	$30,738	$143,307
PAMELA CURTIS	DIRECTOR OF NURSING-LTC	40.0	Highest	$114,743	$23,219	$137,962
NATHALIE SHOSTAK-LEVY	LPN	40.0	Highest	$110,340	$26,418	$136,758
TRACY TAYLOR RN	REGISTERED NURSE	40.0	Highest	$119,609	$13,082	$132,691
Benita Sergilus	Certified Nurse Assistant	40.0	Highest	$111,783	$17,289	$129,072
KENNETH J REILLY CWS	CHAIR - TRUSTEE	1.0	Officer 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
2024	No data	No data	No data	No data
2023	$5,688,607	$7,226,026	$6,255,369	$-1,537,419
2022	$5,411,060	$6,703,350	$6,396,685	$-1,292,290
2021	$4,296,051	$6,029,013	$7,366,100	$-1,732,962
2020	$5,064,426	$6,227,230	$7,523,385	$-1,162,804
2019	$5,953,237	$5,853,019	$7,010,251	$100,218
2018	$5,688,240	$5,721,208	$7,253,989	$-32,968