LIFESONG 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

2011

Legal Domicile

Principal Officer

PHILIP J CATCHPOLE

Phone

5184065157

Tax Period

2023-01-01 to 2023-12-31

LIFESONG INC, founded in 2011, is a community nonprofit in the Human Services sector that reported $4.8M in total revenue in fiscal year 2023. Expenses of $4.6M left a modest 4% surplus.

Mission

THE ORGANIZATION WAS FORMED FOR THE PURPOSE OF CARING FOR AND DEVELOPING INDIVIDUALS WITH DASIBILITIES BY PROVIDING A VARIETY OF ACTIVE AND ENJOYABLE DAY HABILITATION SERVICES IN AN ENVIRONMENT THAT IS CONDUCIVE TO LEARNING, ELICITS GROWTH, AND CREATES A SENSE OF COMMUNITY

Program Service Accomplishments

Program 1

Expenses: $3,791,213 Revenue: $3,723,627

LIFESONG, INC. PROVIDES COMMUNITY-BASED DAY HABILITATION AND SUPPLEMENTAL SERVICES TO INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES. SERVING SARATOGA, SCHENECTADY, RENSSELAER & ALBANY COUNTIES, WE...

LIFESONG, INC. PROVIDES COMMUNITY-BASED DAY HABILITATION AND SUPPLEMENTAL SERVICES TO INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES. SERVING SARATOGA, SCHENECTADY, RENSSELAER & ALBANY COUNTIES, WE FOCUS ON MAKING HEALTHY LIFE CHOICES AND ACCOMPLISH OUR MISSION WITHIN A TRIFOLD STRUCTURE OF VOLUNTEERING, SKILL-BUILDING & RECREATION. WE CREATE A PLATFORM FOR EXPLORATION, SKILL DEVELOPMENT AND SELF-DISCOVERY TO BUILD CONFIDENCE, PROMOTE GROWTH AND PROVIDE INDIVIDUALS WITH THE TOOLS THEY NEED TO SUPPORT AN INDEPENDENT LIFE-STYLE. IN THE END, PERSON-CENTERED PLANNING AND A PROGRAM PHILOSOPHY WHICH EMBODIES QUIET INTEGRATION, HELP PARTICIPANTS BECOME ACTIVELY INVOLVED MEMBERS OF THEIR COMMUNITIES. 113 INDIVIDUALS WERE SERVED.

Program 2

Expenses: $244,568 Revenue: $874,796

LIFESONG INC. PROVIDES SUPPORTED EMPLOYMENT SERVICES THROUGH OPWDD & ACCES-VR IN 4 COUNTIES: SARATOGA, SCHENECTADY, RENSSELAER & ALBANY.OUR SUPPORTED EMPLOYMENT SERVICES ASSIST PEOPLE WITH DIFFERING ABILITIES IN DEVELOPING WORK RELATED SKILLS, PURSUING JOB OPPORTUNITIES AND RETAINING EMPLOYMENT. THE SUPPORTED EMPLOYMENT SERVICES DEPARTMENT EXISTS TO MAKE IT POSSIBLE FOR PEOPLE WITH VARYING LEVELS OF ABILITIES TO BECOME ACTIVE, WAGE-EARNING CONTRIBUTORS TO THEIR LOCAL COMMUNITIES. WE STRIVE TO GENERATE POSITIVE, SUCCESSFUL EMPLOYMENT OPPORTUNITIES AS WELL AS PROVIDE ON-GOING SUPPORT FOR EFFECTIVENESS IN THE WORKPLACE. GIVEN PROPER SUPPORTS AND RESOURCES, ANY PERSON WITH DIFFERING ABILITIES CAN BE SUCCESSFUL AT THEIR PLACE OF EMPLOYMENT. 90 INDIVIDUALS WERE SERVED.

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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 $15,761

Program Service Revenue $4,598,423

Investment Income $116,512

Other Revenue $20,704

TOTAL REVENUE $4,751,400

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,736,535

Fundraising Expenses $11,520

Program Expenses $4,035,781

Other Expenses $821,298

TOTAL EXPENSES $4,557,833

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,751,400	$4,485,249	+0.1%
Expenses	$4,557,833	$4,113,635	+0.1%
Net Income	$193,567	$371,614	-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

$216,836

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REV ERNEST NORTH	BOARD MEMBER	5.00	Director	$0	$0	$0
DAVID BARKIE	BOARD MEMBER	5.00	Director	$0	$0	$0
JASON PICKETT	BOARD MEMBER	5.00	Director	$0	$0	$0
PHILIP F CATCHPOLE SR	BOARD MEMBER	5.00	Director	$0	$0	$0
STEVEN HEALY	BOARD MEMBER	5.00	Director	$0	$0	$0
JAMES THOMPSON	BOARD MEMBER	5.00	Director	$0	$0	$0
CHRISTIAN MORRIS	BOARD MEMBER	5.00	Director	$0	$0	$0
MANNY SANTOS	PRESIDENT	5.00	Officer Director	$0	$0	$0
DR MICHAEL BIBIGHAUS	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
ROBERT BAKER JR	TREASURER	5.00	Officer Director	$0	$0	$0
DAVID POLLITZER	SECRETARY	5.00	Officer Director	$0	$0	$0
PHILIP J CATCHPOLE	EXECUTIVE DIRECTOR	40.00	Officer	$167,171	$49,665	$216,836

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	No data	No data	No data	No data
2023	$4,751,400	$4,557,833	$3,324,752	$193,567
2022	$4,485,249	$4,113,635	$3,155,594	$371,614
2021	$3,773,134	$3,598,264	$2,541,902	$174,870
2020	$3,381,626	$3,164,030	$2,321,826	$217,596
2019	$3,340,272	$3,070,384	$1,742,931	$269,888
2018	$3,030,711	$2,932,403	$1,294,555	$98,308