PADS OF ELGIN 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

1990

Legal Domicile

Principal Officer

STEVE KROISS

Phone

8476089744

Tax Period

2024-07-01 to 2025-06-30

PADS OF ELGIN INC, founded in 1990, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 54% from the prior year, signaling strong growth momentum.

Mission

TO RESPECTFULLY AND COMPASSIONATELY EMPOWER PERSONS AND FAMILIES WHO ARE IN NEED OF HOUSING TO BECOME SELF-SUSTAINING BY PROVIDING SHELTER, NEEDED SERVICES AND PROFESSIONAL GUIDANCE.

Program Service Accomplishments

Program 1

Expenses: $1,474,483

THE BASIC SHELTER PROGRAM OPERATES 365 DAYS AND NIGHTS, PROVIDING 24/7 SAFETY AND SECURITY TO MEN, WOMEN, AND CHILDREN. IN A SINGLE CONGREGATE FACILITY, SEPARATE SLEEPING QUARTERS ARE DESIGNATED FOR MEN, WOMEN, AND FAMILIES EQUIPPED WITH PADS AND FRESH LINENS. GUESTS HAVE ACCESS TO SHOWERS AND LAUNDRY FACILITIES, CLOTHING AND HYGIENE PRODUCTS, AS WELL AS THREE DAILY MEALS (INCLUDING PACKED LUNCHES) AND BEDTIME SNACKS WHILE ACCOMMODATING SPECIFIC DIETARY NEEDS. IN ADDITION TO OVERNIGHT AND DAY SHELTER, PADS PROVIDES COMPREHENSIVE CASE MANAGEMENT SERVICES TO INDIVIDUALS AND FAMILIES.CASE MANAGERS WORK WITH EACH GUEST TO CREATE AN ACTION PLAN THAT ADDRESSES THEIR INDIVIDUAL NEEDS. CASE MANAGEMENT SERVICES OFFERED TO GUESTS INCLUDE MONEY MANAGEMENT AND FINANCIAL LITERACY, LIFE SKILLS, COUNSELING, HOUSING REFERRALS, MENTAL HEALTH ASSESSMENTS, SUBSTANCE ABUSE SUPPORT, ADVOCACY, EMPLOYMENT, AND EDUCATIONAL OPPORTUNITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,452,512

Program Service Revenue $0

Investment Income $1,482

Other Revenue $143,709

TOTAL REVENUE $1,597,703

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,030,708

Fundraising Expenses $62,827

Program Expenses $1,474,483

Other Expenses $644,715

TOTAL EXPENSES $1,675,423

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,597,703	$1,037,623	+0.5%
Expenses	$1,675,423	$1,555,652	+0.1%
Net Income	$-77,720	$-518,029	-0.8%

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

474

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

Total Directors

$2,988

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE KROISS	PRESIDENT	20.00	Officer Director	$0	$0	$0
CATHERINE LEBLANC	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
SUE WELU	SECRETARY	10.00	Officer Director	$0	$0	$0
TIA AAGESEN	MEMBER	5.00	Director	$0	$0	$0
RITA CORBETT	MEMBER	5.00	Director	$0	$0	$0
DOUG KRAMP	TREASURER	10.00	Officer Director	$0	$0	$0
BETH KRUGER	MEMBER	5.00	Director	$0	$0	$0
DEBBIE MCGUIRE	MEMBER	5.00	Director	$0	$0	$0
KRISTAL THOMPSON	MEMBER	10.00	Director	$2,988	$0	$2,988
KATIE SHAW THOMPSON	MEMBER	5.00	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	$1,597,703	$1,675,423	$385,551	$-77,720
2024	$1,037,623	$1,555,652	$533,765	$-518,029
2023	$717,310	$931,009	$1,100,368	$-213,699
2022	$782,539	$772,244	$1,164,259	$10,295
2021	$1,101,682	$718,126	$1,161,944	$383,556
2020	$731,837	$759,328	$859,535	$-27,491