THE HOMESTEAD AT ANOKA INC (EIN 273338560) - 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

2010

Legal Domicile

Principal Officer

JOSEPH BUDZYNSKI

Phone

9529410305

Tax Period

2023-07-01 to 2024-06-30

THE HOMESTEAD AT ANOKA INC, founded in 2010, is a mid-sized nonprofit that reported $27.7M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $26.6M left a modest 4% surplus.

Mission

ESTABLISHED IN 1896, VOLUNTEERS OF AMERICA IS A NATIONAL, NONPROFIT, FAITH-BASED ORGANIZATION PROVIDING SERVICES SUCH AS HOUSING AND HEALTHCARE TO MORE THAN 2 MILLION PEOPLE IN OVER 400 COMMUNITIES EACH YEAR. IN SUPPORT OF THAT MISSION, THE HOMESTEAD AT ANOKA INC WAS ORGANIZED AND IS OPERATED TO ENGAGE IN, ADVANCE, SUPPORT, PROMOTE, AND ADMINISTER HEALTH AND HEALTH-RELATED SERVICES AND SUPPORTIVE SERVICES TO SENIORS AND DISABLED INDIVIDUALS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $10,000

Program Service Revenue $27,251,519

Investment Income $397,190

Other Revenue $0

TOTAL REVENUE $27,658,709

Expense Breakdown

Grants Paid $2,586

Salaries & Benefits $13,317,093

Fundraising Expenses $0

Program Expenses $25,128,078

Other Expenses $13,301,444

TOTAL EXPENSES $26,621,123

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,658,709	$25,450,812	+0.1%
Expenses	$26,621,123	$25,223,006	+0.1%
Net Income	$1,037,586	$227,806	+3.6%

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

281

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

$3,236,490

Total Directors

$825,085

Key Employees

$351,198

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KING MICHAEL W	PRESIDENT	3.00	Officer Director	$0	$179,300	$825,085
RASE NANCY	CHAIRPERSON	0.10	Officer Director	$0	$0	$0
PERKINSDERRICK	VICE CHAIR	0.10	Officer Director	$0	$0	$0
ERICKSON KAREN	TREASURER	0.10	Officer Director	$0	$0	$0
EDEBURN ANDY	SECRETARY	0.10	Officer Director	$0	$0	$0
ARNOLD PATTI	DIRECTOR	0.10	Director	$0	$0	$0
BLOOM SHAWN	DIRECTOR	0.10	Director	$0	$0	$0
CARRINGTON EDWINA	DIRECTOR	0.10	Director	$0	$0	$0
HACKETT KAREN	DIRECTOR	0.10	Director	$0	$0	$0
KNAPP KEITH	DIRECTOR	0.10	Director	$0	$0	$0
MULLEN BETH	DIRECTOR	0.10	Director	$0	$0	$0
PETERSON JEANNE	DIRECTOR	0.10	Director	$0	$0	$0
SHERIDAN PATRICK	DIRECTOR	0.10	Director	$0	$0	$0
VIGEE VORIS	DIRECTOR	0.10	Director	$0	$0	$0
VIGILANCE PIERRE	DIRECTOR	0.10	Director	$0	$0	$0
BUDZYNSKI JOSEPH A	ASST. TREASURER/ASST. SEC	3.00	Officer	$0	$108,473	$449,025
KING KIMBERLY B	ASST. TREASURER/ASST. SEC	3.00	Officer	$0	$72,837	$505,657
DESJARDINS PETER J	ASST. TREASURER/ASST. SEC	3.00	Officer	$0	$40,162	$298,349
PASKOFF DAVID W	ASST. TREASURER/ASST. SEC	3.00	Officer	$0	$17,712	$185,098
GAVIN NANCY A	ASST. SECRETARY/ASST. TRE	3.00	Officer	$0	$95,108	$275,370
NUTZ FAITH A	ASST. SECRETARY/ASST. TRE	3.00	Officer	$0	$20,965	$159,860
NISIVOCCIA DAVID	ASST. TREASURER/ASST. SEC	3.00	Officer	$0	$4,998	$220,517
SOCZYNSKI PAUL F	ASST. TREASURER/ASST. SEC	3.00	Officer	$0	$26,987	$317,529
NICKELL JACCI J	SENIOR VICE PRESIDENT, HEALTHCARE	3.00	Key Emp	$0	$93,643	$351,198
PATRICK WAMBUGU	REGISTERED NURSE SUPERVISOR	40.00	Highest	$380,500	$13,744	$394,244
JEFFREY RICHARDSON	EXECUTIVE DIRECTOR	40.00	Highest	$132,806	$3,483	$136,289
GERTRUDE KUMORDJIE	REGISTERED NURSE SUPERVISOR	40.00	Highest	$126,338	$0	$126,338
AMAKIE OGBORU	LPN	40.00	Highest	$125,799	$482	$126,281
ISATTA WEEDOR	REGISTERED NURSE	40.00	Highest	$118,851	$1,773	$120,624

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
2025	No data	No data	No data	No data
2024	$27,658,709	$26,621,123	$53,164,863	$1,037,586
2023	$25,450,812	$25,223,006	$53,073,884	$227,806
2022	$25,397,142	$25,314,426	$54,244,206	$82,716
2021	$22,165,166	$22,057,275	$56,692,751	$107,891
2020	$23,779,649	$22,736,901	$56,102,899	$1,042,748
2019	$23,989,035	$23,062,688	$55,767,442	$926,347
2018	$22,852,349	$22,698,591	$55,115,589	$153,758

THE HOMESTEAD AT ANOKA INC