CORTLAND ACRES ASSOCIATION 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

1978

Legal Domicile

Principal Officer

BLAKE TRUMAN

Phone

6812289076

Tax Period

2024-01-01 to 2024-12-31

CORTLAND ACRES ASSOCIATION INC, founded in 1978, is a mid-sized nonprofit in the Human Services sector that reported $28.0M in total revenue in fiscal year 2024. Revenue surged 94% from the prior year, signaling strong growth momentum. The organization ran a surplus of $13.7M, a strong 49% operating margin.

Mission

CORTLAND ACRES IS A NON-PROFIT CORPORATION EXISTING FOR THE PURPOSE OF PROVIDING AND DEVELOPING QUALITY PROFESSIONAL SERVICES AND FACILITIES TO IMPROVE THE PHYSICAL, MEDICAL, PSYCHOLOGICAL AND SPIRITUAL WELL-BEING OF INDIVIDUALS WITHIN THE COMMUNITY AND SURROUNDING AREAS. THE ASSOCIATION IS COMMITTED TO PROMOTING THE INTREGRITY AND WORTH OF EVERY PERSON, REGARDLESS OF HIS/HER CONDITION IN LIFE, WHO CHOOSES CORTLAND'S SERVICES.

Program Service Accomplishments

Program 1

Expenses: $11,462,159 Revenue: $27,494,676

CORTLAND ACRES HAS A 94 BED SKILLED NURSING FACILITY, A 24 UNIT APARTMENT COMPLEX, AND NINE INDEPENDENT LIVING HOMES CONSISTING OF 25 UNITS. THE NURSING HOME HAS 27,298 PATIENT DAYS IN 2024...

CORTLAND ACRES HAS A 94 BED SKILLED NURSING FACILITY, A 24 UNIT APARTMENT COMPLEX, AND NINE INDEPENDENT LIVING HOMES CONSISTING OF 25 UNITS. THE NURSING HOME HAS 27,298 PATIENT DAYS IN 2024. APPROXIMATELY 73% OF THOSE SERVED QUALIFY FOR THE MEDICAID PROGRAM WHICH IS DESIGNED TO HELP PAY FOR HEALTH CARE SERVICES FOR THOSE WHO CANNOT AFFORD SERVICES WITH THEIR OWN FINANCIAL RESOURCES. CORTLAND INCURRED $75,007 OF CHARITY CARE DURING 2024. THE NURSING HOME HAD A 89.5% AND 89.5% OCCUPANCY RATE IN 2024 AND 2023 RESPECTIVELY. THE APARTMENT COMPLEX IS DESIGNED TO HOUSE THE ELDERLY AND/OR HANDICAPPED. RENTS ARE SUBSIDIZED THROUGH HOUSING AND URBAN DEVELOPMENT ENABLING LOW-INCOME RESIDENTS TO BE SERVED.

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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 $250,962

Program Service Revenue $12,399,679

Investment Income $15,280,231

Other Revenue $100,371

TOTAL REVENUE $28,031,243

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,089,979

Fundraising Expenses $0

Program Expenses $11,462,159

Other Expenses $8,224,771

TOTAL EXPENSES $14,314,750

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,031,243	$14,418,221	+0.9%
Expenses	$14,314,750	$15,212,889	-0.1%
Net Income	$13,716,493	$-794,668	-18.3%

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

161

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

Total Directors

Key Employees

$360,554

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEWEY RICE	TREASURER	1.00	Officer Director	$0	$0	$0
JAMES SNYDER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARGARET DEBOLT	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK TEETS	BOARD MEMBER	1.00	Director	$0	$0	$0
SAM GOUGHNOUR	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PAT A NICHOLS	PRESIDENT	1.00	Officer Director	$0	$0	$0
KELLY STADELMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT MILVET	BOARD MEMBER	1.00	Director	$0	$0	$0
DAN BUCHER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARY SAGACE	SECRETARY	1.00	Officer Director	$0	$0	$0
MIKE GOSS	BOARD MEMBERS	1.00	Director	$0	$0	$0
BETH CLEVENGER	ADMINISTRATOR	40.00	Key Emp	$177,248	$8,221	$185,469
DEBORAH BERRY	CHIEF FINANCIAL OFFICER	40.00	Key Emp	$152,027	$23,058	$175,085
ANNE MCCUNE	PHYSICAL THERAPIST - DIREC	40.00	Highest	$106,274	$5,380	$111,654

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	$28,031,243	$14,314,750	$26,009,918	$13,716,493
2023	$14,418,221	$15,212,889	$14,432,997	$-794,668
2022	$12,037,228	$13,489,358	$15,299,222	$-1,452,130
2021	$12,867,113	$11,560,474	$16,395,703	$1,306,639
2020	$12,466,794	$11,533,383	$15,611,363	$933,411
2019	$12,018,640	$11,918,126	$13,174,525	$100,514
2018	$11,637,531	$11,415,456	$13,210,669	$222,075