FAIRHAVEN CORPORATION (EIN 390979908) - 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

1962

Legal Domicile

Principal Officer

PAUL KUENNING

Phone

2624732140

Tax Period

2024-01-01 to 2024-12-31

FAIRHAVEN CORPORATION, founded in 1962, is a community nonprofit in the Human Services sector that reported $6.4M in total revenue in fiscal year 2024. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $8.3M exceeded revenue, resulting in a 29% operating deficit.

Mission

TO PROVIDE HOUSING AND SERVICES, INCLUDING SKILLED NURSING AND REHAB TO SENIOR ADULTS.

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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 $5,578

Program Service Revenue $6,070,365

Investment Income $1,079

Other Revenue $353,399

TOTAL REVENUE $6,430,421

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,335,725

Fundraising Expenses $10,801

Program Expenses $7,320,354

Other Expenses $3,936,356

TOTAL EXPENSES $8,272,081

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,430,421	$10,371,764	-0.4%
Expenses	$8,272,081	$8,959,350	-0.1%
Net Income	$-1,841,660	$1,412,414	-2.3%

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

153

Volunteers

400

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

$137,711

Total Directors

$137,711

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES CALDWELL	CHAIRMAN OF BOARD	1.00	Officer Director	$0	$0	$0
DR FRED WILEMAN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
GARY KINCAID	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
ANN HERDENDORF	DIRECTOR	1.00	Director	$0	$0	$0
DR RICHARD HANEY	DIRECTOR	1.00	Director	$0	$0	$0
MARLEEN LIPPERT	DIRECTOR	1.00	Director	$0	$0	$0
SHARON MCCULLOUGH	DIRECTOR	1.00	Director	$0	$0	$0
MARK OLM	EXECUTIVE COMMITTEE	1.00	Officer Director	$0	$0	$0
REV MAX RIGERT	EXECUTIVE COMMITTEE	1.00	Officer Director	$0	$0	$0
MICHAEL WALLACE	DIRECTOR	1.00	Director	$0	$0	$0
REV MARGARET SHEPHERD	DIRECTOR	1.00	Director	$0	$0	$0
DR RICHARD TELFER	DIRECTOR	1.00	Director	$0	$0	$0
REV JERALD WENDT	DIRECTOR	1.00	Director	$0	$0	$0
PAUL KUENNING	EXECUTIVE DIRECTOR	40.00	Officer Director	$137,711	$0	$137,711
DR GERALD THEUNE	DIRECTOR	1.00	Director	$0	$0	$0
DR ROBERTA WEDL	DIRECTOR	1.00	Director	$0	$0	$0
REV FRANZ RIGERT	EX-OFFICIO	1.00	Director	$0	$0	$0
DR KENNETH KIDD	DIRECTOR	1.00	Director	$0	$0	$0
KATHY ROSS	DIRECTOR	1.00	Director	$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
2024	$6,430,421	$8,272,081	$40,776,090	$-1,841,660
2023	$10,371,764	$8,959,350	$33,802,785	$1,412,414
2022	$8,670,991	$9,956,769	$31,058,260	$-1,285,778
2021	$10,379,873	$10,394,919	$31,820,625	$-15,046
2020	$12,766,972	$12,309,219	$33,350,451	$457,753
2019	$12,644,237	$12,087,499	$30,470,624	$556,738
2018	$13,468,542	$12,310,015	$29,038,054	$1,158,527

FAIRHAVEN CORPORATION