WOODHAVEN OF LIVONIA

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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

Principal Officer

RANDALL W GASSER

Phone

7342619000

Tax Period

2024-07-01 to 2025-06-30

WOODHAVEN OF LIVONIA, founded in 1984, is a community nonprofit in the Human Services sector that reported $8.4M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Net assets of $20.7M represent 30 months of operating reserves.

Mission

PROVIDE HIGH QUALITY LONG TERM CARE FOR THE ELDERLY.

Program Service Accomplishments

Program 1

Expenses: $7,184,649 Revenue: $7,753,796

THE WOODHAVEN RETIREMENT COMMUNITY HAS LOCATIONS IN LIVONIA AND BAY CITY. THE LIVONIA FACILITY OPERATES 22 INDEPENDENT LIVING APARTMENTS, A 105 BED ASSISTED LIVING AND A 25-PARTICIPANT ADULT DAY...

THE WOODHAVEN RETIREMENT COMMUNITY HAS LOCATIONS IN LIVONIA AND BAY CITY. THE LIVONIA FACILITY OPERATES 22 INDEPENDENT LIVING APARTMENTS, A 105 BED ASSISTED LIVING AND A 25-PARTICIPANT ADULT DAY SERVICE PROGRAM. THE BAY CITY FACILITY OPERATIONS CONSIST OF 6 LICENSED FOSTER CARE BEDS AND 4 INDEPENDENT LIVING APARTMENTS. SERVICES PROVIDED TO THE RESIDENTS INCLUDE ASSISTED LIVING CARE, ADULT FOSTER CARE AND MEMORY SUPPORT. SOCIAL AND LIFE ENRICHMENT ACTIVITY SERVICES ARE ALSO PROVIDED TO ALL RESIDENTS AS WELL AS DIETARY SERVICES.

Program 2

Revenue: $61,669

ADULT DAY 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 (2024)

Revenue Breakdown

Contributions & Grants $118,724

Program Service Revenue $7,815,465

Investment Income $490,745

Other Revenue $203

TOTAL REVENUE $8,425,137

Expense Breakdown

Grants Paid $9,370

Salaries & Benefits $5,820,130

Fundraising Expenses $0

Program Expenses $7,184,649

Other Expenses $2,455,750

TOTAL EXPENSES $8,285,250

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,425,137	$8,952,328	-0.1%
Expenses	$8,285,250	$8,096,978	+0.0%
Net Income	$139,887	$855,350	-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

203

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

Total Directors

Key Employees

$298,515

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK RAMSEYER	PRESIDENT	1.00	Officer Director	$0	$0	$0
JENAY KNOCHEL	SECRETARY	0.50	Officer Director	$0	$0	$0
LEE KLOPFENSTEIN	BOARD MEMBER	0.50	Director	$0	$0	$0
BRETT PLATTNER	BOARD MEMBER	0.50	Director	$0	$0	$0
AARON MASTERS	BOARD MEMBER	0.50	Director	$0	$0	$0
DORETHY RAMSEYER	BOARD MEMBER	0.50	Director	$0	$0	$0
JAKE GERST	BOARD MEMBER	0.50	Director	$0	$0	$0
STEPHEN WIELAND	BOARD MEMBER	0.50	Director	$0	$0	$0
GAIL SZABO	BOARD MEMBER	0.50	Director	$0	$0	$0
BETHANY KNOCHEL	BOARD MEMBER	0.50	Director	$0	$0	$0
RANDALL W GASSER	PRESIDENT &	55.00	Key Emp	$243,225	$55,290	$298,515

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	$8,425,137	$8,285,250	$23,380,016	$139,887
2024	No data	No data	No data	No data
2023	$9,841,228	$8,111,795	$21,924,684	$1,729,433
2022	$9,011,544	$7,529,543	$20,169,834	$1,482,001
2021	$7,781,807	$7,848,828	$19,693,332	$-67,021
2020	$11,337,067	$9,108,391	$19,774,916	$2,228,676
2019	$10,251,012	$8,997,002	$18,095,643	$1,254,010