AGING 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

1970

Legal Domicile

Principal Officer

KATHLEEN HORAN

Phone

3193983634

Tax Period

2023-01-01 to 2023-12-31

AGING SERVICES INC, founded in 1970, is a community nonprofit in the Human Services sector that reported $3.5M in total revenue in fiscal year 2023. The organization ran a surplus of $659K, a strong 19% operating margin.

Mission

TO ENHANCE THE LIVES OF OLDER ADULTS BY PROVIDING SERVICES AND RESOURCES TO ASSIST THEM IN REMAINING INDEPENDENT.

Program Service Accomplishments

Program 1

Expenses: $2,305,092 Revenue: $2,355,544

MILESTONES & PATHWAYS ADULT DAY HEALTH CENTERS SERVED 533 CONSUMERS AND CAREGIVERS BY PROVIDING ADULT DAY SERVICES TO HEALTH-CHALLENGED INDIVIDUALS WHO MAY REQUIRE SUPPORT, SUPERVISION, AND STRUCTURE TO REMAIN AS INDEPENDENT AS POSSIBLE. WITHOUT THESE PROGRAMS, INDIVIDUALS WOULD BE FORCED TO MOVE TO NURSING HOMES OR OTHER CARE FACILITIES AT A MUCH HIGHER COST. THE HOME ACCESSIBILITY & REPAIR PROGRAM COMPLETED 1477 PROJECTS INCLUDING LAWN MOWING, SNOW REMOVAL AND MINOR HOME REPAIRS FOR 156 LOW-INCOME OLDER ADULTS ON A SLIDING FEE SCALE WHICH KEEPS PROPERTY OWNERS IN COMPLIANCE WITH CITY REGULATIONS AND ALLOWS SENIORS TO REMAIN SAFELY AT HOME.RESOURCE & REFERRAL SERVED 1342 OLDER ADULTS BY COORDINATING SERVICES THAT ALLOWED THEM TO REMAIN IN THEIR OWN HOMES IN THE COMMUNITY. WELLNESS & OUTREACH PROVIDED 23 ACTIVITIES AND PROGRAMS FOR 1037 ACTIVE OLDER ADULTS. THESE PROGRAMS ARE DESIGNED TO ASSIST IN MAINTAINING OPTIMAL PHYSICAL, MENTAL, AND SOCIAL WELL-BEING AND FUNCTION IN OLDER ADULTS. VOLUNTEER SERVICES PROVIDED 1,890 RIDES TO 162 OLDER ADULTS SO THAT THEY WERE ABLE TO GET TO AND FROM ESSENTIAL MEDICAL APPOINTMENTS AND ERRANDS TO PREVENT HEALTH DECLINE AND ENSURE SAFETY ON THE ROAD.

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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 $860,821

Program Service Revenue $2,355,544

Investment Income $250,731

Other Revenue $565

TOTAL REVENUE $3,467,661

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,704,597

Fundraising Expenses $0

Program Expenses $2,305,092

Other Expenses $1,103,765

TOTAL EXPENSES $2,808,362

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,467,661	$3,527,975	0.0%
Expenses	$2,808,362	$2,834,988	0.0%
Net Income	$659,299	$692,987	0.0%

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

498

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

$2,685,348

Total Directors

$2,471,587

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN ALLEN	BOARD MEMBER	1.00	Director	$0	$0	$0
PEG BRADKE	BOARD CHAIR	1.00	Officer Director	$0	$51	$786
MIKE BRINGOLF	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
JULIE DAMIANO	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN GLOBOKAR	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL HEINRICH TO 0323	BOARD MEMBER/EXEC VP FINANCE/CFO	1.00	Officer Director	$0	$78,425	$702,550
SHIRLEY HELMRICHS	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNE JAHNKE TO 1023	BOARD MEMBER	1.00	Director	$0	$0	$0
DONNA KUNDE	BOARD MEMBER	1.00	Director	$0	$0	$0
LARRY MAIERS	BOARD MEMBER	1.00	Director	$0	$0	$0
BARB MATIAS	BOARD MEMBER	1.00	Director	$0	$0	$0
DAN MINECK	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBIN MIXDORF	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN SCOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVE TESDAHL	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE TIERNAN	BOARD SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
PHIL WASTA	BOARD MEMBER	1.00	Director	$0	$0	$0
CASEY GREENE FR 0823	BOARD MEMBER/SLMH PRES/CEO	1.00	Officer Director	$0	$66,395	$416,844
LUCAS HICKS FR 0323	BOARD MEMBER/EXEC VP FINANCE/CFO	1.00	Officer Director	$0	$21,030	$243,959
MICHELLE NIERMANN TO 0723	BOARD MEMBER/SLMH PRES/CEO	1.00	Officer Director	$0	$119,328	$1,107,448
KATHLEEN HORAN	PRESIDENT & CEO	1.00	Officer	$0	$16,543	$213,761

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	$3,467,661	$2,808,362	$12,544,425	$659,299
2022	$3,527,975	$2,834,988	$11,354,344	$692,987
2021	$3,445,855	$2,556,994	$11,750,094	$888,861
2020	$2,591,389	$2,307,160	$10,792,317	$284,229
2019	$3,407,632	$3,195,300	$10,055,345	$212,332
2018	$3,424,849	$3,245,652	$9,191,075	$179,197