OLD LADIES HOME D/B/A ASHLAND TERR… - Form 990 Financial Data

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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

1923

Legal Domicile

Principal Officer

KELLY WEBER

Phone

8592662581

Tax Period

2024-01-01 to 2024-12-31

OLD LADIES HOME D/B/A ASHLAND TERRACE, founded in 1923, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $1.2M left a modest 13% surplus.

Mission

THE ASHLAND TERRACE STAFF AND BOARD OF DIRECTORS ARE DEDICATED TO PROVIDING A SECURE, FRIENDLY, AFFORDABLE HOME TO WOMEN SIXTY YEARS AND OLDER. AS A CONGREGATE SENIOR LIVING COMMUNITY, ASHLAND TERRACE STRIVES TO NURTURE RESIDENTS SPIRITUALLY, PHYSICALLY, AND MENTALLY TO ENHANCE THEIR RETIREMENT YEARS, AND ASSIST THEM WITHIN THE BOUNDARIES PRESCRIBED BY LAW TO FUNCTION INDEPENDENTLY. IN KEEPING WITH THE ORIGINAL PURPOSE OF THE HOME, ASHLAND TERRACE, A NON-PROFIT FACILITY, STRIVES TO MAINTAIN THE HIGHEST POSSIBLE SERVICE AND STANDARDS.

Program Service Accomplishments

Program 1

Expenses: $988,805 Revenue: $667,316

OUR HOME IS A UNIQUE PART OF THE GREATER LEXINGTON COMMUNITY. BEING A NON-PROFIT 501(C)3 PUBLIC CHARITY, WE ARE ABLE TO PRIVATELY SUBSIDIZE RESIDENT RENT. THIS CREATES AN AFFORDABLE OPTION, WHICH...

OUR HOME IS A UNIQUE PART OF THE GREATER LEXINGTON COMMUNITY. BEING A NON-PROFIT 501(C)3 PUBLIC CHARITY, WE ARE ABLE TO PRIVATELY SUBSIDIZE RESIDENT RENT. THIS CREATES AN AFFORDABLE OPTION, WHICH ALSO INCLUDES THREE MEALS DAILY IN OUR DINING ROOM, WEEKLY HOUSEKEEPING INCLUDING CLEAN TOWELS AND BED LINENS, WEEKDAY TRANSPORTATION, AND A VARIETY OF ACTIVITIES AND OUTINGS. OUR LADIES DO NOT COME HERE TO RETIRE THEY COME HERE TO THRIVE!AS HOUSING PRICES REMAIN HIGH, WE ARE DEDICATED TO REMAINING AN AFFORDABLE OPTION FOR OLDER WOMEN. OUR BOARD OF DIRECTORS AND STAFF ARE CONTINUALLY WRITING GRANTS, SEEKING INNOVATIVE ALTERNATIVES, AND LOOKING AT WAYS TO KEEP QUALITY UP AND COSTS DOWN. WE ARE CONTINUALLY FUNDRAISING TO OFFSET THE COSTS OF OUR SERVICES TO THE WOMEN WHO CALL ASHLAND TERRACE HOME. WE ARE GRATEFUL TO BE A TRUE COMMUNITY THAT LISTENS TO, LAUGHS WITH, AND CELEBRATES OUR RESIDENTS.

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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 $349,727

Program Service Revenue $640,028

Investment Income $318,146

Other Revenue $129,436

TOTAL REVENUE $1,437,337

Expense Breakdown

Grants Paid $0

Salaries & Benefits $668,999

Fundraising Expenses $0

Program Expenses $988,805

Other Expenses $578,407

TOTAL EXPENSES $1,247,406

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,437,337	$1,151,368	+0.2%
Expenses	$1,247,406	$1,225,308	+0.0%
Net Income	$189,931	$-73,940	-3.6%

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

$105,140

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GRAHAM ROWLES	PRESIDENT	1.00	Director	$0	$0	$0
MARILYN GALL	VICE-PRESIDENT	1.00	Director	$0	$0	$0
JANE KNAPP	SECRETARY	1.00	Director	$0	$0	$0
CHRIS BESTEN	TREASURER	1.00	Director	$0	$0	$0
CAMERON HAMILTON	DIRECTOR	1.00	Director	$0	$0	$0
JIM MCGEE	DIRECTOR	1.00	Director	$0	$0	$0
RANDY KEMPER	DIRECTOR TILL APRIL	1.00	Director	$0	$0	$0
JACQUI DENEGRI	DIRECTOR AS OF MAY	1.00	Director	$0	$0	$0
ALLISON CONNELLY	DIRECTOR AS OF MAY	1.00	Director	$0	$0	$0
KATIE FINNELL	DIRECTOR	1.00	Director	$0	$0	$0
MARY VENEZIE	DIRECTOR AS OF MAY	1.00	Director	$0	$0	$0
LAURA HAYDEN	DIRECTOR	1.00	Director	$0	$0	$0
KIRTLAND ROACH	DIRECTOR	1.00	Director	$0	$0	$0
JERRY STOUT	DIRECTOR	1.00	Director	$0	$0	$0
ALEX WILCOX	DIRECTOR AS OF MAY	1.00	Director	$0	$0	$0
KELLY WEBER	EXECUTIVE DIRECTOR	40.00	Officer	$91,615	$13,525	$105,140

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
2025	No data	No data	No data	No data
2024	$1,437,337	$1,247,406	$5,719,678	$189,931
2023	$1,151,368	$1,225,308	$5,446,848	$-73,940

OLD LADIES HOME D/B/A ASHLAND TERRACE