FAIRHAVEN INC (EIN 237405177) - Form 990 Financial Analysis & Trantor Score

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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

1980

Legal Domicile

Principal Officer

GERALD T GRANT

Phone

2156618330

Tax Period

2020-01-01 to 2020-03-31

FAIRHAVEN INC, founded in 1980, is a community nonprofit that reported $6.3M in total revenue in fiscal year 2020. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $6.0M left a modest 5% surplus.

Mission

THE PURPOSE OF FAIRHAVEN, INC. IS TO SERVE OLDER ADULTS SIXTY-TWO YEARS OF AGE AND OLDER, PROVIDING RETIREMENT-LIFE SERVICES INCLUDING INDEPENDENT LIVING, ASSISTED LIVING, SKILLED NURSING CARE AND COMPLEMENTARY SERVICES; RESPONSIVE TO RESIDENT NEEDS IN A CHRISTIAN MANNER WITHOUT PREJUDICE OR PREFERENCE TO ANY FAITH, IN AN EXPRESSION OF LOVING KINDNESS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $15,757

Program Service Revenue $6,034,510

Investment Income $217,656

Other Revenue $34,075

TOTAL REVENUE $6,301,998

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,980,462

Fundraising Expenses $0

Program Expenses $5,295,243

Other Expenses $4,016,007

TOTAL EXPENSES $5,996,469

Year-over-Year Comparison

	2020	2019	Change
Revenue	$6,301,998	$25,481,366	-0.8%
Expenses	$5,996,469	$25,643,566	-0.8%
Net Income	$305,529	$-162,200	-2.9%

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

166

Volunteers

133

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

$3,280,858

Total Directors

$1,865,755

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERALD T GRANT	CHAIRMAN & DIRECTOR	0.50	Officer Director	$0	$424,909	$1,157,216
KAREN I CHRISTIANSEN	PRESIDENT, VICE-CHAIR & DIRECTOR	0.50	Officer Director	$0	$182,425	$708,539
GLENN D FOX	SECRETARY	1.00	Officer	$0	$25,784	$444,821
RICHARD A WINTER	TREASURER	1.00	Officer	$0	$25,647	$360,429
JONATHAN D GRANT	ASSISTANT SECRETARY	0.10	Officer	$0	$20,996	$337,310
SUSAN AHERN	ASSISTANT TREASURER	0.50	Officer	$0	$27,711	$272,543
PHILIP L BURKHOLDER	EXECUTIVE DIRECTOR	45.00	Highest	$0	$12,101	$183,755
ELIZABETH OMOHUNDRO	DIRECTOR OF NURSING	40.00	Highest	$39,210	$11,683	$153,919
SUSAN WASSO	REGISTERED NURSE	40.00	Highest	$30,056	$13,109	$143,983
ALONZO KIEFFER	ADMINISTRATOR	45.00	Highest	$0	$6,042	$127,635
MARINET KAMGA	RN SUPERVISOR	40.00	Highest	$27,630	$4,917	$123,977
JACLYN HARRIS	PRESIDENT/CEO (UNTIL 3/19)	0.00		$0	$0	$115,904
JONATHAN T HANSEN	CFO (UNTIL 3/19)	0.00		$0	$0	$107,516
ANNE WEATHERHOLT	DIRECTOR	0.10	Director	$0	$0	$0
DILIP KULATHUM	DIRECTOR	0.25	Director	$0	$0	$0
ELRIC C GERNER	DIRECTOR	0.10	Director	$0	$0	$0
JOHN L ESTERHAI JR MD	DIRECTOR	0.10	Director	$0	$0	$0
LEN HARTWIG	DIRECTOR	1.00	Director	$0	$0	$0
MARVIN MASHNER	DIRECTOR	0.10	Director	$0	$0	$0
RAY VANHORN	DIRECTOR	0.40	Director	$0	$0	$0
SUSAN B ALLMOND	DIRECTOR	0.10	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
2020	$6,301,998	$5,996,469	No data	$305,529
2019	$25,481,366	$25,643,566	$102,302,461	$-162,200
2018	$27,394,583	$29,189,976	$82,001,856	$-1,795,393

FAIRHAVEN INC