INDEPENDENCE OF PORTAGE COUNTY

EIN: 341172006 501(c)(3)

RAVENNA, OH

Total Revenue
$5,025,307
Total Expenses
$6,509,930
Total Assets
$7,998,848
Net Assets
$3,548,862
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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
1974
Legal Domicile
OH
Principal Officer
MICHELLE MADDEN
Phone
3302962851
Tax Period
2024-01-01 to 2024-12-31

INDEPENDENCE OF PORTAGE COUNTY, founded in 1974, is a community nonprofit that reported $5.0M in total revenue in fiscal year 2024. Revenue surged 55% from the prior year, signaling strong growth momentum. Expenses of $6.5M exceeded revenue, resulting in a 30% operating deficit.

Mission

THE AGENCY PROVIDES COMMUNITY BASED SUPPORTIVE SERVICES TO INDIVIDUALS WITH INTELLECTUAL DISABILITIES AND ALSO TRAINING AND EDUCATION, SO AS TO INCREASE THEIR INDEPENDENCE AND ADVOCATES FOR THOSE SERVED. ACKNOWLEDGING FAMILY, FRIENDS, AND COMMUNITY SUPPORTS WITH COORDINATION OF SERVICES AMONGST PROVIDERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $846,878
Program Service Revenue $4,143,828
Investment Income $610
Other Revenue $33,991
TOTAL REVENUE $5,025,307

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,122,148
Fundraising Expenses $0
Program Expenses $5,027,810
Other Expenses $1,387,782
TOTAL EXPENSES $6,509,930

Year-over-Year Comparison

2024 2023 Change
Revenue $5,025,307 $3,245,167 +0.5%
Expenses $6,509,930 $5,846,309 +0.1%
Net Income $-1,484,623 $-2,601,142 -0.4%
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

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Governance

Voting Members
8
Independent Members
8
Employees
267
Volunteers
N/A

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
$167,725
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DONNA KOVOLYAN PRESIDENT 0.75
Officer Director
$0 $0 $0
DENISE SMITH SECRETARY 0.75
Officer Director
$0 $0 $0
GREGORY JOHNSON BOARD MEMBER 0.75
Director
$0 $0 $0
KELLY CLARY BOARD MEMBER 0.75
Director
$0 $0 $0
ERIC SCHLAUBAGH BOARD MEMBER 0.75
Director
$0 $0 $0
BRADFORD CRISLIP BOARD MEMBER 0.75
Director
$0 $0 $0
VINCE VIGLUICCI BOARD MEMBER 0.75
Director
$0 $0 $0
MISSY STAPLES BOARD MEMBER 0.75
Director
$0 $0 $0
MICHELLE MADDEN CHIEF EXECUTIVE OFFICER 36.00
Officer
$127,032 $40,693 $167,725
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 $5,025,307 $6,509,930 $7,998,848 $-1,484,623
2023 $3,245,167 $5,846,309 $7,486,221 $-2,601,142
2022 $5,020,355 $4,621,122 $9,297,281 $399,233
2021 $4,076,069 $4,435,993 $9,004,616 $-359,924
2020 $5,697,277 $4,482,003 $9,939,812 $1,215,274
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