Passages 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

1954

Legal Domicile

Phone

2602447688

Tax Period

2020-07-01 to 2021-02-28

Passages Inc, founded in 1954, is a community nonprofit that reported $4.9M in total revenue in fiscal year 2020. Revenue decreased 16% compared to the prior year. The organization ran a surplus of $962K, a strong 20% operating margin.

Mission

The primary purpose of Passages, Inc. is to join with others to support people with intellectual and/or developmental disabilities to living, learning, working, and socializing in the community through the use of quality practices.

Program Service Accomplishments

Program 1

Expenses: $1,389,198 Revenue: $1,799,145

COMMUNITY SUPPORT-THE ORGANIZATION PROVIDES INDIVIDUALIZED SUPPORT UP TO 24 HOURS PER DAY 7 DAYS A WEEK TO PERSONS WITH DISABILITIES TO LIVE AND INTERACT INDEPENDENTLY IN THE COMMUNITY. TRAINING IS PROVIDED IN MONEY MANAGEMENT, SHOPPING, PERSONAL GROOMING, HEALTH CARE, HOME MAINTENANCE AND SAFETY, SOCIALIZATION SKILLS, RECREATION AND LEISURE, AND INTERACTION IN THE COMMUNITY. FORTY ONE INDIVIDUALS WERE SERVED IN THIS PROGRAM.

Program 2

Expenses: $1,137,155 Revenue: $1,406,498

RESIDENTIAL GROUP HOMES PROVIDE 24 HOUR SUPPORT 7 DAYS A WEEK TO 25 INDIVIDUALS WITH DISABILITIES PER GROUP HOME SETTING TO LIVE AND INTERACT IN THE COMMUNITY. TRAINING IS PROVIDED IN MONEY...

RESIDENTIAL GROUP HOMES PROVIDE 24 HOUR SUPPORT 7 DAYS A WEEK TO 25 INDIVIDUALS WITH DISABILITIES PER GROUP HOME SETTING TO LIVE AND INTERACT IN THE COMMUNITY. TRAINING IS PROVIDED IN MONEY MANAGEMENT, SHOPPING, PERSONAL GROOMING, HEALTH CARE, HOME MAINTENANCE AND SAFETY, SOCIALIZATION SKILLS, RECREATION AND LEISURE, INTERACTION IN THE COMMUNITY. TWENTY-SIX INDIVIDUALS WERE SERVED IN RESIDENTIAL GROUP HOME SETTINGS.

Program 3

Expenses: $337,886 Revenue: $284,441

CLC TRAINING IS DESIGNED TO HELP INDIVIDUALS WITH DISABILITIES WITH PERSONAL DEVELOPMENT AND SKILLS. THE GOAL IS TO HELP INDIVIDUALS REACH A GREATER LEVEL OF PERSONAL INDEPENDENCE WHILE ACHIEVING...

CLC TRAINING IS DESIGNED TO HELP INDIVIDUALS WITH DISABILITIES WITH PERSONAL DEVELOPMENT AND SKILLS. THE GOAL IS TO HELP INDIVIDUALS REACH A GREATER LEVEL OF PERSONAL INDEPENDENCE WHILE ACHIEVING COMMUNICATION AND SOCIAL SKILLS. 94 INDIVIDUALS WERE SERVED THROUGHOUT THE YEAR.

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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 (2020)

Revenue Breakdown

Contributions & Grants $1,279,184

Program Service Revenue $3,536,437

Investment Income $-3,405

Other Revenue $74,064

TOTAL REVENUE $4,886,280

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,073,376

Fundraising Expenses $0

Program Expenses $2,976,750

Other Expenses $850,857

TOTAL EXPENSES $3,924,233

Year-over-Year Comparison

	2020	2019	Change
Revenue	$4,886,280	$5,841,579	-0.2%
Expenses	$3,924,233	$6,072,721	-0.4%
Net Income	$962,047	$-231,142	-5.2%

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

187

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

$208,547

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Vice Chair	1.0	Officer Director	$0	$0	$0
N/A	Treasurer	1.0	Officer Director	$0	$0	$0
N/A	Secretary	1.0	Officer Director	$0	$0	$0
N/A	Immediate Past Chair	1.0	Officer Director	$0	$0	$0
N/A	Chair	1.0	Officer Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Memeber	1.0	Director	$0	$0	$0
N/A	Board Member- partial year	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	President, CEO	40.0	Officer	$117,712	$3,567	$121,279
N/A	CFO	40.0	Officer	$74,765	$12,503	$87,268

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
2021	$4,886,280	$3,924,233	No data	$962,047
2020	$5,841,579	$6,072,721	$4,421,167	$-231,142
2019	$5,693,349	$5,599,422	$3,896,859	$93,927
2018	$5,510,101	$5,604,869	$3,821,386	$-94,768