VOANS PACE HOLDING COMPANY

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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

2014

Legal Domicile

Principal Officer

JOSEPH BUDZYNSKI

Phone

9529410305

Tax Period

2023-07-01 to 2024-06-30

VOANS PACE HOLDING COMPANY, founded in 2014, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2023. Expenses of $2.8M exceeded revenue, resulting in a 16% operating deficit.

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, VOANS PACE HOLDING COMPANY 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 THROUGH PROGRAMS OF ALL-INCLUSIVE CARE FOR THE ELDERLY (PACE).

Program Service Accomplishments

Program 1

Expenses: $2,777,054 Revenue: $318,288

VOANS PACE HOLDING COMPANY (THE ORGANIZATION) WAS FORMED IN FISCAL YEAR 2014 TO PRIMARILY OWN AND OPERATE PACE PROGRAMS. PACE (PROGRAM OF ALL-INCLUSIVE CARE FOR THE ELDERLY) SERVES INDIVIDUALS WHO...

VOANS PACE HOLDING COMPANY (THE ORGANIZATION) WAS FORMED IN FISCAL YEAR 2014 TO PRIMARILY OWN AND OPERATE PACE PROGRAMS. PACE (PROGRAM OF ALL-INCLUSIVE CARE FOR THE ELDERLY) SERVES INDIVIDUALS WHO ARE AGES 55 OR OLDER, CERTIFIED BY THEIR STATE TO BE ELIGIBLE FOR NURSING HOME CARE, ABLE TO LIVE SAFELY IN THE COMMUNITY AT THE TIME OF ENROLLMENT, AND RESIDE IN A PACE SERVICE AREA. THE PACE MODEL OF CARE BEGAN IN THE EARLY 1970'S AND HAS BECOME A NATIONALLY KNOWN PROGRAM THAT PROVIDES A FULL RANGE OF CARE TO SENIORS WITH CHRONIC CARE NEEDS WHILE ALLOWING THEM TO REMAIN IN THEIR OWN HOMES FOR AS LONG AS POSSIBLE.

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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 $2,040,000

Program Service Revenue $0

Investment Income $35,752

Other Revenue $318,288

TOTAL REVENUE $2,394,040

Expense Breakdown

Grants Paid $2,040,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,777,054

Other Expenses $739,834

TOTAL EXPENSES $2,779,834

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,394,040	$2,499,040	0.0%
Expenses	$2,779,834	$2,771,818	+0.0%
Net Income	$-385,794	$-272,778	+0.4%

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

N/A

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
KING MICHAEL W	PRESIDENT	3.00	Officer Director	$0	$179,300	$825,085
RASE NANCY	CHAIRPERSON	0.10	Officer Director	$0	$0	$0
PERKINSDERRICK	VICE CHAIR	0.10	Officer Director	$0	$0	$0
ERICKSON KAREN	TREASURER	0.10	Officer Director	$0	$0	$0
EDEBURN ANDY	SECRETARY	0.10	Officer Director	$0	$0	$0
ARNOLD PATTI	DIRECTOR	0.10	Director	$0	$0	$0
BLOOM SHAWN	DIRECTOR	0.10	Director	$0	$0	$0
CARRINGTON EDWINA	DIRECTOR	0.10	Director	$0	$0	$0
HACKETT KAREN	DIRECTOR	0.10	Director	$0	$0	$0
KNAPP KEITH	DIRECTOR	0.10	Director	$0	$0	$0
MULLEN BETH	DIRECTOR	0.10	Director	$0	$0	$0
PETERSON JEANNE	DIRECTOR	0.10	Director	$0	$0	$0
SHERIDAN PATRICK	DIRECTOR	0.10	Director	$0	$0	$0
VIGEE VORIS	DIRECTOR	0.10	Director	$0	$0	$0
VIGILANCE PIERRE	DIRECTOR	0.10	Director	$0	$0	$0
BUDZYNSKI JOSEPH A	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$108,473	$449,025
KING KIMBERLY B	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$72,837	$505,657
DESJARDINS PETER J	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$40,162	$298,349
PASKOFF DAVID W	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$17,712	$185,098
GAVIN NANCY A	ASST. SECRETARY/ASST. TREASURER	3.00	Officer	$0	$95,108	$275,370
NUTZ FAITH A	ASST. SECRETARY/ASST. TREASURER	3.00	Officer	$0	$20,965	$159,860
NISIVOCCIA DAVID	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$4,998	$220,517
SOCZYNSKI PAUL F	ASST. TREASURER/ASST. SECRETARY	3.00	Officer	$0	$26,987	$317,529
NICKELL JACCI J	SENIOR VICE PRESIDENT, HEALTHCARE	3.00	Key Emp	$0	$93,643	$351,198

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	$2,394,040	$2,779,834	$8,173,282	$-385,794
2023	$2,499,040	$2,771,818	$8,178,984	$-272,778
2022	$6,862,609	$7,051,616	$6,471,107	$-189,007
2021	$8,985,752	$8,952,057	$4,063,127	$33,695
2020	$4,259,561	$3,961,952	$4,026,808	$297,609
2019	$2,201,655	$2,140,942	$3,727,055	$60,713
2018	$2,635,752	$2,677,950	$4,204,448	$-42,198