ELDERHAUS 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

1981

Legal Domicile

Principal Officer

LEE SYRIA

Phone

9103438209

Tax Period

2023-10-01 to 2024-09-30

ELDERHAUS INC, founded in 1981, is a mid-sized nonprofit that reported $15.6M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

ELDERHAUS IS A NON-PROFIT PACE ORGANIZATION LOCATED IN WILMINGTON, NC, THAT SERVES RESIDENTS OF NEW HANOVER AND EASTERN BRUNSWICK COUNTIES. THE ORGANIZATION PROVIDES SERVICES AND CARE THAT ALLOW LOCAL SENIORS TO REMAIN INDEPENDENT IN THEIR OWN HOMES. OUR PARTICIPANTS ARE APPROVED TO PARTICIPATE IN MEDICARE AND MEDICAID. ELDERHAUS IS A MEMBER OF THE EVERYAGE FAMILY, A NEWTON, NC-BASED, NON-PROFIT MINISTRY OFFERING SENIOR HOUSING AND SERVICES.

Program Service Accomplishments

Program 1

Expenses: $12,273,825 Revenue: $15,012,977

PROGRAMS OF ALL-INCLUSIVE CARE FOR THE ELDERLY (PACE) IS A COMMUNITY-BASED LONG-TERM CARE MODEL DESIGNED TO PROVIDE MEDICAL AND PSYCHOSOCIAL SERVICES TO FRAIL ELDERLY INDIVIDUALS OVER 55 YEARS OF AGE...

Program 2

Expenses: $645,758 Revenue: $429,573

THE ALPER CENTER PROGRAM IS AN ADULT DAY CARE SERVICE.

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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 $168,951

Program Service Revenue $15,439,164

Investment Income $8,860

Other Revenue $27,514

TOTAL REVENUE $15,644,489

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,217,581

Fundraising Expenses $0

Program Expenses $12,919,583

Other Expenses $10,128,902

TOTAL EXPENSES $15,346,483

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,644,489	$12,636,682	+0.2%
Expenses	$15,346,483	$13,615,439	+0.1%
Net Income	$298,006	$-978,757	-1.3%

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

120

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

$1,427,292

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PARKER HOWELL	BOARD CHAIR	0.20	Officer Director	$0	$0	$0
BRAD THIE	VICE CHAIR	0.20	Officer Director	$0	$0	$0
GREG ALCORN	SECRETARY	0.20	Officer Director	$0	$0	$0
JULIUS ABERNETHY	BOARD MEMBER	0.20	Director	$0	$0	$0
LARRY BOLICK	BOARD MEMBER	0.20	Director	$0	$0	$0
ANTHONY BRANCH	BOARD MEMBER	0.20	Director	$0	$0	$0
SAMUEL BRODY	BOARD MEMBER	0.20	Director	$0	$0	$0
TERRI FISHER	BOARD MEMBER	0.20	Director	$0	$0	$0
JEFF GILLIAM	BOARD MEMBER	0.20	Director	$0	$0	$0
ALLEN GRAY	BOARD MEMBER	0.20	Director	$0	$0	$0
HUNTER MARCH	BOARD MEMBER	0.20	Director	$0	$0	$0
LINDA MORRIS	BOARD MEMBER	0.20	Director	$0	$0	$0
JENNIFER RODEN	BOARD MEMBER	0.20	Director	$0	$0	$0
SHANE SMITH	BOARD MEMBER	0.20	Director	$0	$0	$0
CORY TOBIN	BOARD MEMBER	0.20	Director	$0	$0	$0
MARGIE WILEY	BOARD MEMBER	0.20	Director	$0	$0	$0
LEE SYRIA	PRESIDENT & CEO OF EVERYAGE	0.20	Officer	$0	$48,900	$541,411
AIMEE REIMANN	CHIEF OPERATING OFFICER	0.20	Officer	$0	$53,160	$384,499
SARAH ABERNETHY	ASSISTANT SECRETARY	0.20	Officer	$0	$14,180	$99,422
RUTH FINCH	EXECUTIVE DIRECTOR	40.00	Officer	$132,957	$20,402	$153,359
TAMMY JONES	CFO	0.20	Officer	$0	$33,710	$248,601
KERRI KAHN	NURSE PRACTITIONER	40.00	Highest	$100,958	$14,924	$115,882

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	$15,644,489	$15,346,483	$1,358,966	$298,006
2023	$12,636,682	$13,615,439	$1,968,776	$-978,757
2022	$10,835,875	$11,837,413	$1,860,675	$-1,001,538
2021	$11,165,496	$12,526,594	$1,680,020	$-1,361,098
2020	$11,983,438	$12,030,562	$2,811,205	$-47,124
2019	$10,286,410	$10,428,900	$4,505,622	$-142,490
2018	$9,876,740	$10,045,831	$3,529,653	$-169,091