NEW LIFE SERVICES 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

1988

Legal Domicile

Principal Officer

JASON SCHMIDT

Phone

7347447334

Tax Period

2024-10-01 to 2025-09-30

NEW LIFE SERVICES INC, founded in 1988, is a community nonprofit that reported $5.0M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year.

Mission

OPERATION OF ADULT FOSTER CARE HOMES AND STAFFING AGENTS IN SOUTHEASTERN MICHIGAN PROVIDING THE HIGHEST QUALITY OF SERVICES IN THE MOST SAFE, CARING, AND GENTLE HOME-LIKE ENVIRONMENT. REALIZING THAT PERSONS OF VARIOUS ABILITIES WILL RESIDE IN THE FACILITIES, NEW LIFE SERVICES INC. PROMOTES AND ENCOURAGES THE MAXIMUM AMOUNT OF INDEPENDENCE WHILE PROVIDING THE HIGHEST LEVEL OF CHOICE FOR EACH INDIVIDUAL SERVICED. NEW LIFE SERVICES PROMOTES THE INVOLVEMENT OF FAMILY AND FRIENDS IN ENCOURAGING THE DEVELOPMENT OF THE RESIDENTS. LIKEWISE, NEW LIFE SERVICES INC. ENCOURAGES THE DEVELOPMENT AND NURTURING OF NEW FRIENDSHIPS AS A VEHICLE TO STIMULATE GROWTH AND INDEPENDENCE.

Program Service Accomplishments

Program 1

Expenses: $4,680,474 Revenue: $5,003,774

OPERATION OF VARIOUS ADULT FOSTER CARE FACILITIES IN SOUTHEAST MICHIGAN PROVIDING ROOM, BOARD, STAFFING, ACCESS TO MEDICAL SERVICES, TRANSPORTATION, ACTIVITIES, AND A PROGRAM OF BASIC LIFE AND WORK...

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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 $0

Program Service Revenue $5,003,774

Investment Income $-5,765

Other Revenue $0

TOTAL REVENUE $4,998,009

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,531,962

Fundraising Expenses $0

Program Expenses $4,729,397

Other Expenses $822,514

TOTAL EXPENSES $5,354,476

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,998,009	$5,450,883	-0.1%
Expenses	$5,354,476	$5,489,587	0.0%
Net Income	$-356,467	$-38,704	+8.2%

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

161

Volunteers

N/A

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

$137,211

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON SCHMIDT	EXECUTIVE DI	40.00	Officer	$137,211	$0	$137,211
SHAWN BROWN	DIRECTOR	N/A	Director	$0	$0	$0
LAURA CARDENAS	DIRECTOR	N/A	Director	$0	$0	$0
KELLY KOWALSKI-SMITH	TREASURER	N/A	Officer	$0	$0	$0
TRACY SCHMIDT-CARTER	PRESIDENT	N/A	Officer	$0	$0	$0
KEELY VACCA	SECRETARY	N/A	Officer	$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	$4,998,009	$5,354,476	$2,473,162	$-356,467
2024	$5,450,883	$5,489,587	$2,862,705	$-38,704
2023	$5,096,143	$4,738,701	$2,772,928	$357,442
2022	$4,409,501	$4,424,163	$2,623,808	$-14,662
2021	$4,085,655	$3,495,573	$2,338,696	$590,082
2020	$3,285,569	$3,295,938	$2,175,422	$-10,369
2019	$3,163,230	$3,273,286	$1,759,309	$-110,056
2018	$3,277,564	$3,333,680	$1,857,121	$-56,116