Olmsted Health & Services Corp

EIN: 341560247 501(c)(3) Human Services

Olmsted Township, OH

Total Revenue
$9,707,079
Total Expenses
$7,497,777
Total Assets
$3,459,259
Net Assets
$2,901,689
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
OH
Principal Officer
Richard M Boyson Jr
Phone
4405404700
Tax Period
2023-07-01 to 2024-06-30

Olmsted Health & Services Corp, founded in 1987, is a community nonprofit in the Human Services sector that reported $9.7M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.2M, a strong 23% operating margin.

Mission

Olmsted Health & Services is a skilled nursing and rehabilitative community offering various services for older adults including rehabilitation, skilled nursing, respite, and hospice care.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $9,707,016
Investment Income $0
Other Revenue $63
TOTAL REVENUE $9,707,079

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,629,732
Fundraising Expenses $0
Program Expenses $6,527,937
Other Expenses $3,868,045
TOTAL EXPENSES $7,497,777

Year-over-Year Comparison

2023 2022 Change
Revenue $9,707,079 $7,939,797 +0.2%
Expenses $7,497,777 $6,889,665 +0.1%
Net Income $2,209,302 $1,050,132 +1.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
15
Employees
N/A
Volunteers
40

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
4
$975,506
Total Directors
16
$437,606
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Richard M Boyson Jr President & CEO 0.00
Officer Director
$0 $40,532 $437,606
Kathleen M Shields CFO 0.00
Officer
$0 $6,308 $213,187
Jennifer Griveas VP of Legal 0.00
Officer
$0 $15,453 $187,485
Michael Gray CIO 0.00
Officer
$0 $1,466 $137,228
Richard L Fletcher Trustee 0.00
Director
$0 $0 $0
Alayne J Fodor Trustee 0.00
Director
$0 $0 $0
Glenn S Krassen Secretary 0.00
Director
$0 $0 $0
Richard L Fox Trustee 0.00
Director
$0 $0 $0
Margaret Hartney Trustee 0.00
Director
$0 $0 $0
Michele Messina Trustee 0.00
Director
$0 $0 $0
James Rogerson Trustee 0.00
Director
$0 $0 $0
Patricia M Scanlon Trustee 0.00
Director
$0 $0 $0
Sheryl L Sereda Trustee 0.00
Director
$0 $0 $0
Terrie Shrock Trustee 0.00
Director
$0 $0 $0
John P Stoner Trustee 0.00
Director
$0 $0 $0
Allen R Tracy Treasurer 0.00
Director
$0 $0 $0
Rick Weigle Jr Trustee 0.00
Director
$0 $0 $0
Margaret G Weitzel Chair 0.00
Director
$0 $0 $0
Hilton Young Trustee 0.00
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
2025 No data No data No data No data
2024 $9,707,079 $7,497,777 $3,459,259 $2,209,302
2023 $7,939,797 $6,889,665 $3,036,820 $1,050,132
2022 $9,278,590 $6,474,058 $3,253,546 $2,804,532
2021 $9,792,472 $6,152,659 $3,321,595 $3,639,813
2020 $9,362,995 $6,214,336 $3,914,390 $3,148,659
2019 $9,056,589 $5,942,465 $4,601,116 $3,114,124
2018 $8,923,155 $6,161,797 $167,499,799 $2,761,358
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