PRENTICE HOUSE 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

1992

Legal Domicile

Principal Officer

MICHAEL TURGEON

Phone

7156821160

Tax Period

2024-01-01 to 2024-12-31

PRENTICE HOUSE INC, founded in 1992, is a community nonprofit in the Human Services sector that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.3M exceeded revenue, resulting in a 10% operating deficit.

Mission

PROVIDE RESIDENTIAL TREATMENT AND COUNSELING SERVICES TO A NUMBER OF YOUNG MEN BASED ON REFERRALS

Program Service Accomplishments

Program 1

Expenses: $866,508

PRENTICE HOUSE INC . PROVIDES A VARIETY OF INDIVIDUALIZED SERVICES FOR ITS RESIDENTS AND FAMILIES IN A COMMUNITY- BASED SETTING . THIS INVOLVES A BLEND OF ON-SITE AND COMMUNITY- BASED SERVICES THAT INCLUDE EVIDENCE- BASED PRACTICES GROUNDED IN A PHILOSOPHY OF RELATIONSHIP BUILDING AND TRAUMA INFORMED CARE TO PROMOTE REAL AND LASTING CHANGE IN A STRUCTURED ENVIRONMENT. PRENTICE HOUSE INC. PROVIDED RESIDENTIAL TREATMENT AND COUNSELI NG SERVI CES TO 31 YOUNG MEN . SERVICES PROVI DED INCLUDE : -ON SI TE SCHOOL : FACIL ITIES , SUPPLIES , AND SUPPORT STAFF PROVIDED BY PRENTICE HOUSE INC ., TEACHER AND CURRICULUM PROVIDED BY THE ASHLAND SCHOOL DISTRICT -ON SITE CLINICAL SUPERVISION - LICENSED PROGRAM THERAPIST

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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 $1,168,914

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,168,914

Expense Breakdown

Grants Paid $0

Salaries & Benefits $892,851

Fundraising Expenses $0

Program Expenses $866,508

Other Expenses $394,374

TOTAL EXPENSES $1,287,225

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,168,914	$1,168,914	N/A
Expenses	$1,287,225	$1,287,225	N/A
Net Income	$-118,311	$-118,311	N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
BLAKE FROSS	DIRECTOR	Director	$0	$0	$0
SUE MASTERSON	DIRECTOR	Director	$0	$0	$0
ANDY SCHULTS	DIRECTOR	Director	$0	$0	$0
MICHAEL TURGEON	PRESIDENT	Officer	$0	$0	$0
JAMES LYNN	VICE PRESIDENT	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
2024	$1,168,914	$1,287,225	$428,965	$-118,311
2023	$1,392,049	$1,160,921	$633,802	$231,128
2022	$1,467,717	$1,367,726	$398,512	$99,991
2021	$1,242,997	$1,378,482	$401,116	$-135,485
2020	$1,541,061	$1,511,555	$494,731	$29,506
2019	$1,454,232	$1,470,650	$535,249	$-16,418
2018	$1,417,146	$1,465,162	$542,766	$-48,016