GALESBURG, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)FLORIDA LIVING OPTIONS INC, founded in 2001, is a small nonprofit in the Health Care sector that reported $241K in total revenue in fiscal year 2024. Revenue surged 46% from the prior year, signaling strong growth momentum. The organization ran a surplus of $226K, a strong 94% operating margin.
THE MISSION OF THE ORGANIZATION IS ARTICULATED IN ITS ARTICLES OF INCORPORATION AS FOLLOWS:THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF INTERNAL REVENUE CODE OF 1986, AS AMENDED. IN FURTHERANCE OF THESE PURPOSES, THE CORPORATION MAY BUILD, LEASE, ACQUIRE AND OTHERWISE OWN AND OPERATE HOUSING, NURSING FACILITIES, CONTINUOUS CARE RETIREMENT COMMUNITIES AND OTHER RELATED FACILITIES AND SERVICES FOR THE ELDERLY, MENTALLY RETARDED, MENTALLY ILL, DEVELOPMENTALLY DISABLED AND OTHER LIKE CONDITIONS WITHOUT REGARD TO RACE, RELIGION, COLOR, SEX, CREED OR NATIONAL ORIGIN OF SAID PERSONS.
ALL PROGRAM SERVICES RELATE TO PROVIDING AND OPERATING SKILLED NURSING FACILITIES, ASSISTED LIVING FACILITIES AND INDEPENDENT LIVING FACILITIES FOR QUALIFYING RESIDENTS. THE ORGANIZATION OPERATED 8...
ALL PROGRAM SERVICES RELATE TO PROVIDING AND OPERATING SKILLED NURSING FACILITIES, ASSISTED LIVING FACILITIES AND INDEPENDENT LIVING FACILITIES FOR QUALIFYING RESIDENTS. THE ORGANIZATION OPERATED 8 FACILITIES WITH A COMBINED TOTAL OF 702 BEDS WITHIN THESE FACILITIES. THE ORGANIZATION SOLD THESE FACILITIES DURING TAX YEAR 2021.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $241,121 | $165,203 | +0.5% |
| Expenses | $14,925 | $175,271 | -0.9% |
| Net Income | $226,196 | $-10,068 | -23.5% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| CHARLES D WESTBAY | PRESIDENT & DIRECTOR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| JOHN CROCK | VICE PRESIDENT & DIRECTOR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| JOHN THOMPSON | SECRETARY & DIRECTOR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| DALE FENWICK | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| KENNETH HARKINS | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| RON WILSON RFMS INC | CFO | 2.00 |
Officer
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $241,121 | $14,925 | $4,632,151 | $226,196 |
| 2024 | $165,203 | $175,271 | $4,597,911 | $-10,068 |
| 2023 | $4,642,708 | $1,264,690 | $6,418,773 | $3,378,018 |
| 2022 | $-368,375 | $1,552,649 | $5,692,196 | $-1,921,024 |
| 2021 | $28,738,947 | $28,002,892 | $12,885,832 | $736,055 |
| 2020 | $34,842,888 | $36,394,455 | $16,663,402 | $-1,551,567 |
| 2019 | $48,419,755 | $48,572,897 | $15,567,938 | $-153,142 |
| 2018 | $46,721,533 | $49,357,864 | $13,098,063 | $-2,636,331 |
Compare FLORIDA LIVING OPTIONS INC with other nonprofits in Illinois and across the country.