FAIRHAVEN 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

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

AS AN ACTS RETIREMENT-LIFE COMMUNITY, FAIRHAVEN, INC. IS COMMITTED TO PROVIDING SECURITY AND PEACE OF MIND TO SENIORS BY BEING THE PRE-EMINENT PROVIDER OF RETIREMENT-LIFE SERVICES, RESPONSIVE TO INDIVIDUAL, SOCIAL, PERSONAL, HEALTH AND SPIRITUAL NEEDS IN A CHRISTIAN ATMOSPHERE GRACED WITH LOVING-KINDNESS, DIGNITY, SENSITIVITY, HONESTY, AND RESPECT WITHOUT PREJUDICE OR PREFERENCE.

Program Service Accomplishments

Program 1

Expenses: $5,295,243 Revenue: $6,034,510

FAIRHAVEN, INC. PROVIDES COMPREHENSIVE LIFE CARE SERVICES TO SENIOR ADULTS AGED 62 AND OLDER THAT INCLUDE INDEPENDENT LIVING HOUSING, DINING AND NUTRITIONAL SERVICES, PASTORAL SERVICES, SECURITY...

FAIRHAVEN, INC. PROVIDES COMPREHENSIVE LIFE CARE SERVICES TO SENIOR ADULTS AGED 62 AND OLDER THAT INCLUDE INDEPENDENT LIVING HOUSING, DINING AND NUTRITIONAL SERVICES, PASTORAL SERVICES, SECURITY, HOUSEKEEPING, MAINTENANCE SERVICES AND SOCIAL, CULTURAL, EDUCATIONAL, SPIRITUAL AND RECREATIONAL ACTIVITIES. IN ADDITION, WHEN A RESIDENT'S HEALTH CARE NEEDS CHANGE, HOME HEALTH, ASSISTED LIVING, SKILLED NURSING CARE AND HOSPICE SERVICES ARE AVAILABLE. ALL PHYSICAL ACCOMMODATIONS AND SERVICES ARE PROVIDED UNDER THE TERMS OF A FORMAL LIFECARE AGREEMENT WHICH ALSO ASSURES THAT ASSISTED LIVING AND SKILLED NURSING CARE WILL BE PROVIDED TO RESIDENTS WHEN THEY NEED IT, WITHOUT A CHANGE IN THEIR MONTHLY FEE, THEREBY OFFERING FURTHER SECURITY AND PEACE OF MIND. FOR THE PERIOD FROM JANUARY 1, 2020 THROUGH MARCH 31, 2020, FAIRHAVEN, INC. SERVED, ON AVERAGE, 308 RESIDENTS IN INDEPENDENT LIVING, 31 RESIDENTS IN ASSISTED LIVING AND 55 RESIDENTS IN SKILLED CARE.

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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