WILLOWS COTTAGES

EIN: 363531646 501(c)(3) Human Services

Rockford, IL

Total Revenue
$14,392,727
Total Expenses
$14,458,438
Total Assets
$113,302,867
Net Assets
$20,716,614
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
IL
Principal Officer
Frances Salinas
Phone
8153161500
Tax Period
2023-07-01 to 2024-06-30

WILLOWS COTTAGES, founded in 1989, is a mid-sized nonprofit in the Human Services sector that reported $14.4M in total revenue in fiscal year 2023.

Mission

Willows Cottages provides housing and services for senior citizens with a policy to maintain residents that become unable to pay. Willows Cottages' stated purposes include promoting christian principles for the development and improvement of persons retirement age, and inspiring seniors to celebrate life.

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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 $10,460,581
Investment Income $745,499
Other Revenue $3,186,647
TOTAL REVENUE $14,392,727

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $10,757,746
Other Expenses $14,458,438
TOTAL EXPENSES $14,458,438

Year-over-Year Comparison

2023 2022 Change
Revenue $14,392,727 $13,835,787 +0.0%
Expenses $14,458,438 $12,286,582 +0.2%
Net Income $-65,711 $1,549,205 -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

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Governance

Voting Members
12
Independent Members
12
Employees
N/A
Volunteers
100

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
$433,557
Total Directors
11
$0
Key Employees
4
$1,212,855
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Frances Salinas President & CEO 0
Officer Key Emp Highest
$0 $28,434 $433,557
William Pratt CEO - Outgoing 0
Key Emp
$0 $17,025 $373,199
Brett Nelson Chief Financial Officer 0
Key Emp
$0 $16,798 $203,692
Helen Dittmer Chief Clinical Officer 0
Key Emp
$0 $17,898 $202,407
Joe Scandroli Board Member 0
Director
$0 $0 $0
Joe Clinton Board Member 0
Director
$0 $0 $0
Dennis Roop Board Member 0
Director
$0 $0 $0
David Schmitt Vice-Chair 0
Officer Director
$0 $0 $0
Denise Popp Chairperson of the Board 0
Officer Director
$0 $0 $0
Jack Croffoot Secretary 0
Officer Director
$0 $0 $0
Don Williams Board Member 0
Director
$0 $0 $0
Joseph Garry Board Member 0
Director
$0 $0 $0
Mark McClenathan Board Member 0
Director
$0 $0 $0
Tammy Zurfluh Board Member 0
Director
$0 $0 $0
Samuel Schmitz Board Member 0
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 $14,392,727 $14,458,438 $113,302,867 $-65,711
2023 $13,835,787 $12,286,582 $113,006,905 $1,549,205
2022 $14,119,773 $12,106,188 $113,389,693 $2,013,585
2021 $13,196,494 $12,218,707 $119,406,443 $977,787
2020 $12,512,196 $12,135,241 $116,663,951 $376,955
2019 $11,926,471 $12,121,161 $117,346,428 $-194,690
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