PROGRESSIVE ELDERCARE SERVICES INC (EIN 273040964) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

W JARRED FRANKLIN SR

Phone

9054275007

Tax Period

2024-01-01 to 2024-12-31

PROGRESSIVE ELDERCARE SERVICES INC, founded in 2010, is a community nonprofit in the Health Care sector that reported $3.0M in total revenue in fiscal year 2018. Revenue surged 54% from the prior year, signaling strong growth momentum.

Mission

TO FACILITATE COMPASSIONATE HEALTH CARE WITH CLINICAL QUALITY AND SERVICE EXCELLENCE IN A DIGNIFIED AND RESPECTFUL "HOME" ENVIRONMENT FOR ELDERS WHO REQUIRE LONG-TERM CARE SERVICES.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $775,000

Program Service Revenue $0

Investment Income $9,305

Other Revenue $50,781

TOTAL REVENUE $835,086

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $552,015

TOTAL EXPENSES $552,015

Year-over-Year Comparison

	2024	2023	Change
Revenue	$835,086	$1,101,740	-0.2%
Expenses	$552,015	$1,633,003	-0.7%
Net Income	$283,071	$-531,263	-1.5%

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

N/A

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
W JARRED FRANKLIN ESQ	PRESIDENT	1.00	Officer Director	$0	$0	$0
DENISE MCCLAIN	DIRECTOR	1.00	Director	$0	$0	$0
JIM BADAMI ESQ	DIRECTOR	1.00	Director	$0	$0	$0
PHAM LIEM MD	DIRECTOR	1.00	Director	$0	$0	$0
NANCY BROWN	DIRECTOR	1.00	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	$835,086	$552,015	$260,734	$283,071
2023	$1,101,740	$1,633,003	$-26,339	$-531,263
2022	$634,120	$509,888	$174,627	$124,232
2021	No data	$7,500	$49,670	No data
2020	$6	$3,341	$57,170	$-3,335
2019	$2,136,458	$2,142,026	$339,738	$-5,568
2018	$2,990,298	$2,991,517	$314,866	$-1,219

PROGRESSIVE ELDERCARE SERVICES INC