VOA CARE CENTERS MINNESOTA (EIN 411647566) - 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

1989

Legal Domicile

Principal Officer

JOSEPH BUDZYNSKI

Phone

9529410305

Tax Period

2023-07-01 to 2024-06-30

VOA CARE CENTERS MINNESOTA, founded in 1989, is a mid-sized nonprofit in the Health Care sector that reported $17.8M in total revenue in fiscal year 2023. The organization ran a surplus of $8.5M, a strong 48% operating margin.

Mission

ESTABLISHED IN 1896, VOLUNTEERS OF AMERICA IS A NATIONAL, NONPROFIT, FAITH-BASED ORGANIZATION PROVIDING SERVICES SUCH AS HOUSING AND HEALTHCARE TO MORE THAN 2 MILLION PEOPLE IN OVER 400 COMMUNITIES EACH YEAR. IN SUPPORT OF THAT MISSION, VOA CARE CENTERS, MINNESOTA WAS ORGANIZED AND IS OPERATED TO ENGAGE IN, ADVANCE, SUPPORT, PROMOTE, AND ADMINISTER HEALTH AND HEALTH-RELATED SERVICES AND SUPPORTIVE SERVICES TO SENIORS AND DISABLED INDIVIDUALS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $908

Program Service Revenue $9,706,610

Investment Income $8,111,559

Other Revenue $0

TOTAL REVENUE $17,819,077

Expense Breakdown

Grants Paid $4,593

Salaries & Benefits $5,315,126

Fundraising Expenses $0

Program Expenses $8,809,704

Other Expenses $3,983,431

TOTAL EXPENSES $9,303,150

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,819,077	$16,877,247	+0.1%
Expenses	$9,303,150	$16,664,944	-0.4%
Net Income	$8,515,927	$212,303	+39.1%

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

199

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

$3,236,490

Total Directors

$825,085

Key Employees

$351,198

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL W KING	PRESIDENT	3.00	Officer Director	$0	$179,300	$825,085
NANCY RASE	CHAIRPERSON	0.10	Officer Director	$0	$0	$0
DERRICK PERKINS	VICE CHAIR	0.10	Officer Director	$0	$0	$0
KAREN ERICKSON	TREASURER	0.10	Officer Director	$0	$0	$0
ANDY EDEBURN	SECRETARY	0.10	Officer Director	$0	$0	$0
PATTI ARNOLD	DIRECTOR	0.10	Director	$0	$0	$0
SHAWN BLOOM	DIRECTOR	0.10	Director	$0	$0	$0
EDWINA CARRINGTON	DIRECTOR	0.10	Director	$0	$0	$0
KAREN HACKETT	DIRECTOR	0.10	Director	$0	$0	$0
KEITH KNAPP	DIRECTOR	0.10	Director	$0	$0	$0
BETH MULLEN	DIRECTOR	0.10	Director	$0	$0	$0
JEANNE PETERSON	DIRECTOR	0.10	Director	$0	$0	$0
PATRICK SHERIDAN	DIRECTOR	0.10	Director	$0	$0	$0
VORIS VIGEE	DIRECTOR	0.10	Director	$0	$0	$0
PIERRE VIGILANCE	DIRECTOR	0.10	Director	$0	$0	$0
KIMBERLY B KING	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$72,837	$505,657
JOSEPH A BUDZYNSKI	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$108,473	$449,025
PAUL F SOCZYNSKI	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$26,987	$317,529
PETER J DESJARDINS	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$40,162	$298,349
NANCY A GAVIN	ASST. SECRETARY/ASST. TREASURER	3.00	Officer	$0	$95,108	$275,370
DAVID NISIVOCCIA	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$4,998	$220,517
DAVID W PASKOFF	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$17,712	$185,098
FAITH ANUTZ	ASST. SECRETARY/ASST. TREASURER	3.00	Officer	$0	$20,965	$159,860
JACCI J NICKELL	SENIOR VICE PRESIDENT, HEALTHCARE	3.00	Key Emp	$0	$93,643	$351,198
VENANTIUS BIN	CERTIFIED NURSING ASSISTANT	40.00	Highest	$126,279	$2,385	$128,664
SKYLER CLARKSON	DIRECTOR OF NURSING	40.00	Highest	$113,267	$5,473	$118,740
JENNIFER DINGMAN	REGISTERED NURSE	40.00	Highest	$106,173	$10,416	$116,589
CHRISTI WEISE	REGISTERED NURSE	40.00	Highest	$110,323	$6,216	$116,539
ZACHARY SCHMITZ	EXECUTIVE DIRECTOR	40.00	Highest	$108,455	$2,508	$110,963

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	No data	No data	No data	No data
2024	$17,819,077	$9,303,150	$16,821,845	$8,515,927
2023	$16,877,247	$16,664,944	$11,309,167	$212,303
2022	$15,091,853	$15,187,505	$12,184,184	$-95,652
2021	$13,217,654	$13,525,614	$14,153,427	$-307,960
2020	$14,538,952	$14,406,363	$13,383,637	$132,589
2019	$16,029,769	$15,738,885	$13,605,736	$290,884
2018	$14,918,252	$15,347,341	$14,704,908	$-429,089

VOA CARE CENTERS MINNESOTA