MICHIGAN HOME FOR THE ARMENIAN AGED (EIN 381419460) - Form 990 Financial Analysis & Trantor Score

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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

1950

Legal Domicile

Principal Officer

LYNNE KOJAMANIAN

Phone

7345225780

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN HOME FOR THE ARMENIAN AGED, founded in 1950, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $2.8M exceeded revenue, resulting in a 14% operating deficit.

Mission

OUR GOAL IS TO ASSIST EACH PERSON TO REMAIN AS INDEPENDENT AS POSSIBLE. WE WISH TO CREATE AN ENVIRONMENT AND ATMOSPHERE THAT IS FILLED WITH VIBRANCY, PRIDE, SECURITY AND A SENSE OF BELONGING.

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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 (2023)

Revenue Breakdown

Contributions & Grants $7,298

Program Service Revenue $2,412,995

Investment Income $5,618

Other Revenue $45,034

TOTAL REVENUE $2,470,945

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,741,775

Fundraising Expenses $0

Program Expenses $2,183,452

Other Expenses $1,085,867

TOTAL EXPENSES $2,827,642

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,470,945	$2,178,397	+0.1%
Expenses	$2,827,642	$2,675,498	+0.1%
Net Income	$-356,697	$-497,101	-0.3%

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

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

$124,491

Total Directors

$60,568

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LYNNE KOJAMANIAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID KARAPETIAN	VP/INTERIM ED	1.00	Officer Director	$60,568	$0	$60,568
CHRISTINE MATOIAN	SECRETARY	1.00	Officer Director	$0	$0	$0
GARY REIZIAN	TREASURER	1.00	Officer Director	$0	$0	$0
NORMAN MESSELIAN	DIRECTOR	1.00	Director	$0	$0	$0
MARTY SHOUSHANIAN	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH BRAZILIAN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL KAZARIAN	DIRECTOR	1.00	Director	$0	$0	$0
DANA PEZNOWSKI KARAGOSIAN	DIRECTOR	1.00	Director	$0	$0	$0
CARLA HICKS	EXECUTIVE DIRECTOR	40.00	Officer	$58,193	$5,730	$63,923

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
2024	No data	No data	No data	No data
2023	$2,470,945	$2,827,642	$4,307,847	$-356,697
2022	$2,178,397	$2,675,498	$4,512,585	$-497,101
2021	$2,572,893	$2,744,882	$4,882,239	$-171,989
2020	$2,664,795	$3,120,638	$4,917,662	$-455,843
2019	$2,475,266	$2,694,936	$5,027,646	$-219,670
2018	$2,526,269	$2,546,069	$5,265,336	$-19,800

MICHIGAN HOME FOR THE ARMENIAN AGED