PROGRESSIVE ELDERCARE SERVICES 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

W JARRED FRANKLIN SR

Phone

9054275007

Tax Period

2024-01-01 to 2024-12-31

PROGRESSIVE ELDERCARE SERVICES INC, founded in 2010, is a small nonprofit in the Health Care sector that reported $835K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $283K, a strong 34% operating margin.

Mission

THE ORGANIZATION PROVIDES AFFORDABLE SKILLED NURSING AND REHABILITATIVE CARE TO ILL, INFIRM, MEDICALLY DISABLED AND ELDERLY INDIVIDUALS IN A NON-TRADITIONAL LONG-TERM CARE ENVIRONMENT UTILIZING THE "CULTURE CHANGE OR "PERSON-CENTERED" CARE MODEL.

Program Service Accomplishments

Program 1

PROGRESSIVE ELDERCARE SERVICES ("PROGRESSIVE") ACTS TO FACILITATE THE OPERATION OF LONG-TERM CARE FACILITIES WITH THE "CULTURE CHANGE" POLICY. THIS MODEL IS MAINTAINED THROUGH PROGRESSIVE'S...

PROGRESSIVE ELDERCARE SERVICES ("PROGRESSIVE") ACTS TO FACILITATE THE OPERATION OF LONG-TERM CARE FACILITIES WITH THE "CULTURE CHANGE" POLICY. THIS MODEL IS MAINTAINED THROUGH PROGRESSIVE'S SUPERVISION AND CONTROL OVER ITS AFFILIATED ORGANIZATIONS THROUGH: (1) EMPLOYMENT OF THE PRESIDENT/ADMINISTRATOR OF EACH ORGANIZATION;(2)ELECTION OF THE BOARD OF DIRECTORS OF EACH ORGANIZATION; (3) ABILITY TO DISSOLVE EACH ORGANIZATION IF NECESSARY; (4) ESTABLISH AND AMEND THE ADMISSION POLICY OF EACH ORGANIZATION; AND (5) ESTABLISH AND AMEND THE "CULTURE CHANGE" POLICY OF EACH ORGANIZATION. PROGRESSIVE EMPLOYS THE ADMINISTRATORS OF EACH ORGANIZATION AND LEASES SUCH ADMINISTRATORS TO FACILITIES FOR THE AMOUNT OF EXPENSE INCURRED BY PROGRESSIVE IN EMPLOYING EACH SUCH PERSON. THE COMBINED ORGANIZATION SERVED OVER 308 RESIDENTS IN 2023.

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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 $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