LIFESPACE COMMUNITIES 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

1976

Legal Domicile

Principal Officer

JESSE JANTZEN

Phone

5152885805

Tax Period

2023-01-01 to 2023-12-31

LIFESPACE COMMUNITIES INC, founded in 1976, is a major nonprofit in the Human Services sector that reported $236.1M in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $422.9M exceeded revenue, resulting in a 79% operating deficit.

Mission

CREATING COMMUNITIES CELEBRATING THE LIVES OF SENIORS. LIFESPACE RECOGNIZES THAT ITS MISSION CAN ONLY BE FULFILLED THROUGH THE DEDICATED EFFORTS OF ITS EMPLOYEES, THEREFORE INCLUDED IN OUR MISSION IS THE ABILITY TO PROVIDE DISASTER RELIEF FUNDS TO EMPLOYEES WHO ENCOUNTER CIRCUMSTANCES RECOGNIZED BY FEDERAL AND STATE AGENCIES AS QUALIFYING FOR EMERGENCY DISASTER RELIEF.

Program Service Accomplishments

Program 1

Expenses: $369,214,521 Revenue: $338,768,901

LIFESPACE COMMUNITIES, INC. OWNS FOURTEEN DIFFERENT COMMUNITIES (5 IN FL, 3 TX, 2 IN IL, 1 IN MN, KS, PA, AND WI) WHICH PROVIDE APARTMENTS AND HEALTH CARE FOR RETIRED PERSONS. RESIDENTS PAY AN...

LIFESPACE COMMUNITIES, INC. OWNS FOURTEEN DIFFERENT COMMUNITIES (5 IN FL, 3 TX, 2 IN IL, 1 IN MN, KS, PA, AND WI) WHICH PROVIDE APARTMENTS AND HEALTH CARE FOR RETIRED PERSONS. RESIDENTS PAY AN INITIAL ENTRANCE FEE AND MONTHLY FEES THEREAFTER WHICH ENTITLE THEM TO THE USE OF THE COMMUNITY FOR LIFE AND UNLIMITED USE OF THE HEALTH CENTER. RESIDENTS DO NOT ACQUIRE TITLE OF THE PROPERTY.

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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 $1,295,699

Program Service Revenue $338,768,901

Investment Income $-109,787,015

Other Revenue $5,809,810

TOTAL REVENUE $236,087,395

Expense Breakdown

Grants Paid $10,312,892

Salaries & Benefits $184,664,573

Fundraising Expenses $0

Program Expenses $369,214,521

Other Expenses $227,878,139

TOTAL EXPENSES $422,855,604

Year-over-Year Comparison

	2023	2022	Change
Revenue	$236,087,395	$328,711,356	-0.3%
Expenses	$422,855,604	$402,545,496	+0.1%
Net Income	$-186,768,209	$-73,834,140	+1.5%

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

5187

Volunteers

1162

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

$2,948,083

Total Directors

$480,667

Key Employees

$6,328,451

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAVERNE EPP	DIRECTOR (04/2023)	2.00	Director	$14,333	$0	$14,333
NEAL YANOFSKY	DIRECTOR	2.00	Director	$55,000	$0	$55,000
ANA DUTRA	DIRECTOR	2.00	Director	$43,000	$0	$43,000
PATRICK SPANGLER	DIRECTOR	2.00	Director	$43,000	$0	$43,000
VENITA FIELDS	DIRECTOR & CHAIR	2.00	Director	$43,000	$0	$43,000
JOYCE DARKEY-HRINYA	DIRECTOR	2.00	Director	$43,000	$0	$43,000
GARY BLACKFORD	DIRECTOR	2.00	Director	$41,000	$0	$41,000
SCOTT COLLIER	DIRECTOR (4/2023)	2.00	Director	$11,667	$0	$11,667
SUE DELVAUX	DIRECTOR (4/2023)	2.00	Director	$11,667	$0	$11,667
DAVID S WILLIAMS III	DIRECTOR	2.00	Director	$35,000	$0	$35,000
JONATHAN SOKEYE	DIRECTOR	2.00	Director	$35,000	$0	$35,000
CLYDE STRETCH	DIRECTOR	2.00	Director	$26,250	$0	$26,250
AMY MCDONOUGH	DIRECTOR	2.00	Director	$26,250	$0	$26,250
CLAUS JENSEN	DIRECTOR	2.00	Director	$26,250	$0	$26,250
JENIFER SALAMINO	DIRECTOR	2.00	Director	$26,250	$0	$26,250
JESSE JANTZEN	PRESIDENT & CEO	40.00	Officer	$1,372,900	$42,832	$1,415,732
NICHOLAS HARSHFIELD	CHIEF FINANCIAL OFFICER	40.00	Officer	$952,088	$55,588	$1,007,676
BRIAN ROBBINS	CHIEF OPERATING OFFICER	40.00	Officer	$485,799	$38,876	$524,675
SARA HAMM	CHIEF CLINICAL & PUBLIC HEALTH OFFICER (9/2023)	40.00	Key Emp	$497,098	$22,911	$520,009
KENNETH POINSETTE	CHIEF INFORMATION OFFICER (7/2023)	40.00	Key Emp	$416,024	$52,578	$468,602
DANA SMITH	CHIEF MARKETING & EXPERIENCE OFFICER (9/2023)	40.00	Key Emp	$345,389	$34,531	$379,920
IAN MARSHALL	VICE PRESIDENT OF ORGANIZATION DEVELOPMENT (11/23	40.00	Key Emp	$312,541	$35,664	$348,205
NATALIE NGUYEN	SENIOR VICE PRESIDENT	40.00	Key Emp	$311,709	$29,749	$341,458
NIKKI KRESSE	CHIEF PEOPLE & COMMUNICATIONS OFFICER	40.00	Key Emp	$717,876	$40,593	$758,469
MICHAEL ROACH	CHIEF STRATEGY OFFICER	40.00	Key Emp	$574,550	$0	$574,550
RUSSELL MAUK	VICE PRESIDENT DESIGN & CONSTRUCTION	40.00	Key Emp	$481,703	$44,647	$526,350
JOSEPH GORMAN	GENERAL COUNSEL	40.00	Key Emp	$476,905	$42,472	$519,377
RICK OROS	VICE PRESIDENT HEALTHCARE OPERATIONS	40.00	Key Emp	$400,524	$19,268	$419,792
TRACEY CROWNOVER	VICE PRESIDENT PROCESS & SYSTEM OPTIMIZATION	40.00	Key Emp	$377,188	$42,704	$419,892
MARY ANN GILLETTE	VICE PRESIDENT SALES	40.00	Key Emp	$369,328	$38,550	$407,878
ERIN POPE	SENIOR VICE PRESIDENT CHIEF COMPLIANCE & DEPUTY GE	40.00	Key Emp	$319,325	$22,389	$341,714
MEGHAN ZIEGELMEYER	VICE PRESIDENT HEALTHCARE SALES & MARKETING	40.00	Key Emp	$276,586	$25,649	$302,235
BRYAN WELTY	EXECUTIVE DIRECTOR	40.00	Highest	$269,152	$29,841	$298,993
ZACHARY JACOBSEN	VICE PRESIDENT REGIONAL OPERATIONS	40.00	Highest	$255,526	$12,098	$267,624
JAMES HORSMAN	EXECUTIVE DIRECTOR	40.00	Highest	$314,048	$56,181	$370,229
ANDREW KAZMIERCZAK	VICE PRESIDENT REGIONAL OPERATIONS	40.00	Highest	$299,356	$45,988	$345,344
KY MOODY	EXECUTIVE DIRECTOR	40.00	Highest	$296,720	$27,513	$324,233

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	No data	No data	No data	No data
2023	$236,087,395	$422,855,604	$1,333,809,519	$-186,768,209
2022	$328,711,356	$402,545,496	$1,413,110,019	$-73,834,140
2021	$288,575,366	$347,496,596	$1,235,093,381	$-58,921,230
2020	$281,536,784	$282,334,731	$1,067,045,251	$-797,947
2019	$248,211,607	$263,399,579	$1,074,258,846	$-15,187,972
2018	$254,479,884	$255,251,655	$974,196,700	$-771,771