PARK OF THE PALMS 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

1974

Legal Domicile

Principal Officer

CATHERINE MILLIGAN

Phone

3524736100

Tax Period

2023-01-01 to 2023-12-31

PARK OF THE PALMS INC, founded in 1974, is a community nonprofit in the Housing & Shelter sector that reported $2.5M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $2.4M left a modest 5% surplus.

Mission

PARK OF THE PALMS SERVES AS A SANCTUARY TO MEET THE PHYSICAL AND SPIRITUAL NEEDS OF AN AGING POPULATION AND IS A SOURCE OF SPIRITUAL LIGHT TO ITS RESIDENTS AND THE SURROUNDING COMMUNITY. THE VISION OF THE PARK OF THE PALMS, INC. IS TO SERVE AN AGING POPULATION WITH THE HIGHEST LEVEL OF COMPREHENSIVE AND INDIVIDUALIZED CARE POSSIBLE. THIS EFFORT IS MADE POSSIBLE IN BEAUTIFUL INDEPENDENT LIVING STRUCTURES AND AN ASSISTED LIVING FACILITY.

Program Service Accomplishments

Program 1

Expenses: $1,953,354 Revenue: $2,469,039

PROVIDED HOUSING FOR INDEPENDENT RESIDENTS WITH MAINTENANCE AND OVERHEAD SUPPORT FOR THEIR ACCOMMODATIONS IN A SAFE LIVING ENVIRONMENT. ALSO PROVIDED OPTIONAL FOOD SERVICE, POOL ACCESS, AND VARIOUS ON CAMPUS ACTIVITIES. ADDITIONALLY PARK OF THE PALMS, INC. PROVIDED A SAFE AND FRIENDLY LIVING ENVIRONMENT FOR RESIDENTS REQUIRING ASSISTANCE WITH DAILY LIVING WITH LIMITED NURSING CARE, FOOD SERVICE, AND DAILY ACTIVITIES.

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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 $41,218

Program Service Revenue $2,439,434

Investment Income $13,411

Other Revenue $29,605

TOTAL REVENUE $2,523,668

Expense Breakdown

Grants Paid $3,200

Salaries & Benefits $1,327,516

Fundraising Expenses $0

Program Expenses $1,953,354

Other Expenses $1,068,885

TOTAL EXPENSES $2,399,601

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,523,668	$2,279,698	+0.1%
Expenses	$2,399,601	$2,209,282	+0.1%
Net Income	$124,067	$70,416	+0.8%

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

$132,453

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN L MOJONNIER	CHAIRMAN	7.00	Officer Director	$0	$0	$0
WILLIAM COYLE JR	VICE CHAIRMAN	5.00	Officer Director	$0	$0	$0
GARY C WAINWRIGHT	SECRETARY	1.00	Officer Director	$0	$0	$0
WILLIAM NEUFELD	TREASURER	7.00	Officer Director	$0	$0	$0
MARK PRESSON	DIRECTOR	1.00	Director	$0	$0	$0
MIKE DYKES	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE MILLIGAN	PRESIDENT	40.00	Officer	$69,433	$1,346	$70,779
HELEN CRIBBS	VICE PRESIDENT	40.00	Officer	$59,876	$1,798	$61,674

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	$2,523,668	$2,399,601	$3,899,639	$124,067
2022	$2,279,698	$2,209,282	$3,985,170	$70,416
2021	$2,081,468	$2,117,164	$4,087,764	$-35,696
2020	$1,956,210	$2,089,035	$4,216,846	$-132,825
2019	$2,153,095	$2,088,773	$4,175,673	$64,322
2018	$2,144,672	$2,023,910	$4,294,323	$120,762