SOUTHERN HARBOR ELDERCARE SERVICES

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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

2014

Legal Domicile

Principal Officer

Kathi Lovell

Phone

2078672345

Tax Period

2023-01-01 to 2023-12-31

SOUTHERN HARBOR ELDERCARE SERVICES, founded in 2014, is a small nonprofit in the Human Services sector that reported $645K in total revenue in fiscal year 2023. Revenue surged 71% from the prior year, signaling strong growth momentum. The organization ran a surplus of $144K, a strong 22% operating margin.

Mission

Our mission is to provide high quality on-island care in a safe, nurturing, and truly residential environment for year-round and seasonal members of the North Haven community who cannot remain in their longtime homes.

Program Service Accomplishments

Program 1

Expenses: $356,411 Revenue: $318,415

The organization operates a license Level III Residential Care Facility, providing individualized residential and respite elder-care services overseen by trained nursing and support staff. The...

The organization operates a license Level III Residential Care Facility, providing individualized residential and respite elder-care services overseen by trained nursing and support staff. The Southern Harbor House facility opened to residents in early 2019, providing services to 9 residents during the year. The organization supported residents with daily living needs and activities, social and recreational activities and events, and community engagement. The organization also provides transportation for residents who travel around the island for appointments, events, recreation and personal interests. The organization hosts and supports informative and educational events directly related to the organization's mission, which are open to the public community as well as residents and staff. Such events include discussions, seminars and webinars on topics including aging, elder-care, memory and housing for seniors. These events are provided to participants free of charge.

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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 $260,415

Program Service Revenue $318,415

Investment Income $52,403

Other Revenue $13,861

TOTAL REVENUE $645,094

Expense Breakdown

Grants Paid $0

Salaries & Benefits $286,633

Fundraising Expenses $28,443

Program Expenses $356,411

Other Expenses $214,600

TOTAL EXPENSES $501,233

Year-over-Year Comparison

	2023	2022	Change
Revenue	$645,094	$377,935	+0.7%
Expenses	$501,233	$471,895	+0.1%
Net Income	$143,861	$-93,960	-2.5%

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
LINDSEY BEVERAGE	ADMINISTRATOR	35.00		$52,971	$0	$52,971
Sandy Gilman	Secretary	5.00	Officer Director	$0	$0	$0
Mary Terry	Vice President	7.00	Officer Director	$0	$0	$0
Donald Pearson	board member	2.00	Director	$0	$0	$0
Cornelia Newell	Treasurer	5.00	Officer Director	$0	$0	$0
Holly Ambler	BOARD MEMBER	5.00	Director	$0	$0	$0
Melinda Cheston	BOARD MEMBER	5.00	Director	$0	$0	$0
Robert Jenkens	Asst. Treasurer	3.00	Officer Director	$0	$0	$0
Jessie Hallowell	BOARD MEMBER	1.00	Director	$0	$0	$0
Lisa Shields	BOARD MEMBER	1.00	Director	$0	$0	$0
Kathi Lovell	President	7.00	Officer Director	$0	$0	$0
Maggie Salter	BOARD MEMBER	2.00	Director	$0	$0	$0
Bruce Gilman	BOARD MEMBER	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	No data	No data	No data	No data
2023	$645,094	$501,233	$4,237,425	$143,861
2022	$377,935	$471,895	$4,047,764	$-93,960
2021	$664,432	$419,857	$4,250,390	$244,575
2020	$373,529	$415,129	$3,967,554	$-41,600
2019	$246,024	$419,323	$3,955,880	$-173,299
2018	$3,177,603	$95,700	$4,098,343	$3,081,903