PATRIOT SERVICES GROUP 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

2010

Legal Domicile

Principal Officer

SHANE CORMIER

Phone

9046862681

Tax Period

2024-01-01 to 2024-12-31

PATRIOT SERVICES GROUP INC, founded in 2010, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $57.3M in total revenue in fiscal year 2024. Revenue surged 58% from the prior year, signaling strong growth momentum. Expenses of $68.8M exceeded revenue, resulting in a 20% operating deficit.

Mission

TO PROVIDE SAFE, CLEAN, AFFORDABLE HOUSING TO LOW- TO VERY-LOW-INCOME INDIVIDUALS AND FAMILIES ALONG WITH SPECIAL PROGRAMS AND SERVICES TO ASSIST HOMELESS VETERANS ACROSS THE NATION.

Program Service Accomplishments

Program 1

Expenses: $65,454,515 Revenue: $55,619,289

PATRIOT HOUSING INITIATIVE CONTINUED TO PROVIDE AFFORDABLE HOUSING WITH A FOCUS ON HELPING HOMELESS VETERANS AND THEIR FAMILIES. PSG'S MULTI-FAMILY PORTFOLIO CONSISTED OF "THE COVE AT NOLA" WHICH HAS 300 UNITS AND IS LOCATED IN NEW ORLEANS, LA; "THE RUBIX" WHICH HAS 236 UNITS AND IS LOCATED IN LAS VEGAS, NV; "TIMBER OAKS" WHICH HAS 235 UNITS AND IS LOCATED IN INGLESIDE, IL; "PRAIRIE VIEW" WHICH HAS 334 UNITS AND IS LOCATED IN WOODSTOCK, IL; THE "WEST VIRGINIA PORTFOLIO" WHICH HAS A TOTAL OF 840 UNITS SCATTERED THROUGHOUT HUNTINGTON AND CHARLESTON, WV; THE "MISSISSIPPI 1.0 PORTFOLIO" WHICH HAS 668 UNITS SCATTERED THROUGHOUT PASCAGOULA, MS; THE "SE-LOUISIANA PORTFOLIO" WHICH HAS 481 UNITS SCATTERED THROUGHOUT NEW IBERIA, LAFAYETTE, NEW ORLEANS, AND BATON ROUGE, LA; THE "MISSISSIPPI 2.0 PORTFOLIO" WHICH HAS 196 UNITS SCATTERED THROUGHOUT PASCAGOULA, MS; THE "FL-AL" PORTFOLIO WHICH HAS 453 UNITS SCATTERED THROUGHOUT MOBILE, AL AND JACKSONVILLE, FL; "VESTA DERBY OAKS" WHICH HAS 418 UNITS LOCATED IN LOUISVILLE, KY; "PATRIOTS PLACE APARTMENTS" WHICH HAS 184 UNITS LOCATED IN BERKELEY COUNTY, SOUTH CAROLINA; AND THE "PINE FOREST PORTFOLIO" WHICH HAS 343 UNITS LOCATED IN HOUSTON, TEXAS.PATRIOT SUPPORTIVE SERVICES INITIATIVE CONTINUED TO PROVIDE FREE RESOURCES TO LOW-INCOME INDIVIDUALS AND FAMILIES AS WELL AS HOMELESS VETERANS AND THEIR FAMILIES. SERVICES PROVIDED INCLUDE FOOD BANK SUPPORT, DEPOSIT/RENT/UTILITY RELIEF, VETERAN-FOCUSED EVENTS, HURRICANE RELIEF AND EMERGENCY SUPPORT, AND OTHER LIFE-SUSTAINING & PROMOTING SERVICES.

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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 $719,483

Program Service Revenue $42,212,875

Investment Income $915,164

Other Revenue $13,406,414

TOTAL REVENUE $57,253,936

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,246,228

Fundraising Expenses $0

Program Expenses $65,454,515

Other Expenses $63,593,191

TOTAL EXPENSES $68,839,419

Year-over-Year Comparison

	2024	2023	Change
Revenue	$57,253,936	$36,242,396	+0.6%
Expenses	$68,839,419	$60,287,487	+0.1%
Net Income	$-11,585,483	$-24,045,091	-0.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHERYL A LAU ESQ	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
LIZ PEAK	VICE CHAIR	2.00	Officer Director	$0	$0	$0
SHANE CORMIER CPA MACC	TREASURER	2.00	Officer Director	$0	$0	$0
CAMERON HOOPER	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM BRUCE	DIRECTOR	2.00	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
2024	$57,253,936	$68,839,419	$328,489,309	$-11,585,483
2023	$36,242,396	$60,287,487	$334,789,201	$-24,045,091
2022	$31,834,785	$49,598,638	$358,493,942	$-17,763,853
2021	$19,669,140	$26,051,094	$251,560,503	$-6,381,954
2020	$9,886,117	$13,819,763	$135,986,989	$-3,933,646
2018	$17,344,759	$20,496,234	$179,233,098	$-3,151,475