TRANSFORMING AGE

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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

2019

Legal Domicile

Principal Officer

TORSTEN HIRCHE

Phone

4255596301

Tax Period

2023-10-01 to 2024-09-30

TRANSFORMING AGE, founded in 2019, is a mid-sized nonprofit in the Housing & Shelter sector that reported $12.6M in total revenue in fiscal year 2023. Expenses of $16.2M exceeded revenue, resulting in a 29% operating deficit.

Mission

TO DEVELOP AND PROVIDE STRATEGIC DIRECTION TO, MANAGE THE EMPLOYEES OF, AND OTHERWISE ENGAGE IN ACTIVITIES TO SUPPORT PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST ("PRCN") AND THOSE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) THAT ARE RELATED TO PRCN THROUGH COMMON CONTROL.

Program Service Accomplishments

Program 1

Expenses: $16,207,724 Revenue: $11,514,233

DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2023, TRANSFORMING AGE BEGAN PROVIDING SUPPORT SERVICES TO 501(C)(3) SUBSIDIARY ORGANIZATIONS, INCLUDING PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST...

DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2023, TRANSFORMING AGE BEGAN PROVIDING SUPPORT SERVICES TO 501(C)(3) SUBSIDIARY ORGANIZATIONS, INCLUDING PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST, GERMAN RETIREMENT HOME OF THE STATE OF WASHINGTON (DBA: GARDENS AT JUANITA BAY), VASHON ISLAND COMMUNITY CARE, CHRISTIAN RETIREMENT HOMES (DBA: EASTMONT TOWERS), FRED LIND MANOR, FULL LIFE CARE, DOWNTOWN ACTION TO SAVE HOUSING (DBA: DASH), SENIOR HOUSING ASSISTANCE GROUP (DBA: SHAG), SHAG COMMUNITY LIFE FOUNDATION AND NORSE HOME.

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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 $0

Program Service Revenue $11,514,233

Investment Income $763,169

Other Revenue $288,669

TOTAL REVENUE $12,566,071

Expense Breakdown

Grants Paid $2,305,000

Salaries & Benefits $10,451,135

Fundraising Expenses $0

Program Expenses $16,207,724

Other Expenses $3,451,589

TOTAL EXPENSES $16,207,724

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,566,071	$12,324,048	+0.0%
Expenses	$16,207,724	$115,682,149	-0.9%
Net Income	$-3,641,653	$-103,358,101	-1.0%

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

$1,976,827

Total Directors

$1,184,579

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TORSTEN HIRCHE	PRESIDENT & CEO	29.00	Officer Director	$346,509	$29,551	$1,184,579
MICHAEL CONNELL	TREASURER & CFO	29.00	Officer	$193,744	$37,634	$683,447
KENNETH NOREEN	COO	40.00	Highest	$137,193	$33,227	$490,538
MICHELE LUKE	SECRETARY	29.00	Officer	$29,825	$9,384	$108,801
MARY WAGNER	CHAIR & DIRECTOR	0.50	Officer Director	$0	$0	$0
JESSE BOND	VICE CHAIR & CHAIR	0.50	Officer Director	$0	$0	$0
GREG RUSSELL	DIRECTOR & VICE CHAIR	0.50	Officer Director	$0	$0	$0
BARB BENNETT	DIRECTOR	0.50	Director	$0	$0	$0
CATHY DANIGELIS	DIRECTOR	0.50	Director	$0	$0	$0
KATHI LENTZSCH	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT LUMSDEN	DIRECTOR	0.50	Director	$0	$0	$0
JIM MELHORN	DIRECTOR	0.50	Director	$0	$0	$0
JOY MOORE	DIRECTOR	0.50	Director	$0	$0	$0
LISA NELSON	DIRECTOR	0.50	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	$12,566,071	$16,207,724	$28,714,675	$-3,641,653
2023	$12,324,048	$115,682,149	$-98,147,019	$-103,358,101
2023	$10,513,034	$115,771,543	$-103,544,076	$-105,258,509