Botsford Continuing Care Corporati… - Form 990 Financial Data

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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

1984

Legal Domicile

Phone

6163912022

Tax Period

2022-01-01 to 2022-12-31

Botsford Continuing Care Corporation, founded in 1984, is a mid-sized nonprofit in the Health Care sector that reported $12.1M in total revenue in fiscal year 2022. Revenue decreased 10% compared to the prior year. Expenses of $18.0M exceeded revenue, resulting in a 49% operating deficit.

Mission

IN THE INTEREST OF MEETING OUR COMMUNITY'S NEEDS FOR A CONTINUUM OF CARE, BOTSFORD CONTINUING CARE CORPORATION WILL PROVIDE AN ENVIRONMENT IN WHICH CLIENTS WILL RECEIVE PERSONAL ATTENTION BY HEALTH CARE PROFESSIONALS.

Program Service Accomplishments

Program 1

Expenses: $16,991,015 Revenue: $11,492,405

THE SKILLED NURSING UNIT (SNF) IS A 179-BED FACILITY. THE ASSISTED LIVING FACILITY IS A 63-BED FACILITY. IT IS A SAFE AND SUPPORTIVE ENVIRONMENT FOR OLDER ADULTS NEEDING SOME ASSISTANCE WITH THEIR...

THE SKILLED NURSING UNIT (SNF) IS A 179-BED FACILITY. THE ASSISTED LIVING FACILITY IS A 63-BED FACILITY. IT IS A SAFE AND SUPPORTIVE ENVIRONMENT FOR OLDER ADULTS NEEDING SOME ASSISTANCE WITH THEIR DAILY ROUTINE. THE CENTER FEATURES RESIDENTIAL SUITES WITH PRIVATE BATHS AND GENEROUS LIVING SPACE FOR TREASURED PERSONAL FURNISHINGS. EACH IS EASILY ACCESSIBLE TO COMMUNITY LIVING, DINING, AND SOCIAL AREAS. THE INDEPENDENT LIVING APARTMENT IS A 51-APARTMENT FACILITY. EACH APARTMENT IS WHEELCHAIR ACCESSIBLE AND HAS ILLUMINATED THERMOSTATS. EACH APARTMENT INCLUDES COMPLETE KITCHEN AND LAUNDRY FACILITIES AND INCLUDES ACCESS TO ADJACENT TOWN COMMONS BUILDING. THE TOWN COMMONS BUILDING INCLUDES DINING SERVICES, A POOL, EXERCISE ROOM, AND LIBRARY WITH MEDIA SERVICES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $489,143

Program Service Revenue $11,492,405

Investment Income $0

Other Revenue $95,927

TOTAL REVENUE $12,077,475

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,147,998

Fundraising Expenses $0

Program Expenses $16,991,015

Other Expenses $9,864,118

TOTAL EXPENSES $18,012,116

Year-over-Year Comparison

	2022	2021	Change
Revenue	$12,077,475	$13,440,460	-0.1%
Expenses	$18,012,116	$18,116,717	0.0%
Net Income	$-5,934,641	$-4,676,257	+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

N/A

Employees

173

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

$8,296,136

Total Directors

$4,253,929

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	DIRECTOR/CHAIR	1.0	Officer Director	$0	$94,020	$450,730
N/A	DIRECTOR/TREASURER	1.0	Officer Director	$0	$174,919	$672,195
N/A	DIRECTOR/PRESIDENT/SECRETARY	50.0	Officer Director	$272,375	$79,715	$352,090
N/A	DIRECTOR/CHAIR	1.0	Officer Director	$0	$27,294	$240,401
N/A	DIRECTOR	1.0	Director	$0	$11,828	$2,538,513
N/A	CEO	0.0	Officer	$0	$1,190,017	$4,492,371
N/A	CFO	0.0	Officer	$0	$522,977	$2,088,349
N/A	SUPV NURSING RN LTC	50.0	Highest	$120,148	$27,416	$147,564
N/A	DIR RES SVC LTC	50.0	Highest	$128,448	$18,318	$146,766
N/A	CLINICAL NURSE LTC	50.0	Highest	$139,786	$13,155	$152,941
N/A	SR. DIR SKILLED NURSING LTC	50.0	Highest	$170,346	$32,131	$202,477
N/A	CLINICAL NURSE LTC	50.0	Highest	$339,024	$18,951	$357,975

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
2022	$12,077,475	$18,012,116	$27,443,176	$-5,934,641
2021	$13,440,460	$18,116,717	$28,850,593	$-4,676,257
2020	$16,692,642	$19,946,361	$28,554,348	$-3,253,719
2019	$21,687,161	$23,901,480	$28,386,969	$-2,214,319
2018	$19,194,048	$22,740,922	$25,156,812	$-3,546,874

Botsford Continuing Care Corporation