THE GLENRIDGE ON PALMER RANCH 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

1997

Legal Domicile

Principal Officer

JONATHAN A CORBIN

Phone

9415525300

Tax Period

2023-01-01 to 2023-12-31

THE GLENRIDGE ON PALMER RANCH INC, founded in 1997, is a mid-sized nonprofit that reported $45.1M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

THE GLENRIDGE SUPPORTS ITS MEMBERS AND CREATES AN ACTIVE, CARING COMMUNITY BY PROVIDING A CONTINUUM OF QUALITY LIFESTYLE PROGRAMS, HEALTH CARE PROGRAMS, AND OUTSTANDING ENRICHMENT OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $41,095,925 Revenue: $44,080,176

THE GLENRIDGE HAS A PERMANENT CERTIFICATE OF AUTHORITY AND CERTIFICATE OF NEED FROM THE STATE OF FLORIDA TO OPERATE AS A CONTINUING CARE RETIREMENT FACILITY. THE GLENRIDGE CONSTRUCTED A CONTINUING...

THE GLENRIDGE HAS A PERMANENT CERTIFICATE OF AUTHORITY AND CERTIFICATE OF NEED FROM THE STATE OF FLORIDA TO OPERATE AS A CONTINUING CARE RETIREMENT FACILITY. THE GLENRIDGE CONSTRUCTED A CONTINUING CARE RETIREMENT COMMUNITY CONTAINING APPROXIMATELY FOUR HUNDRED SIXTEEN (416) INDEPENDENT LIVING AND NURSING UNITS TO PROVIDE HOUSING, HEALTH CARE, AND OTHER RELATED SERVICES TO RESIDENTS IN SARASOTA, FL.

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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 $581,623

Program Service Revenue $44,080,176

Investment Income $445,621

Other Revenue $0

TOTAL REVENUE $45,107,420

Expense Breakdown

Grants Paid $172,969

Salaries & Benefits $18,494,143

Fundraising Expenses $99,334

Program Expenses $41,095,925

Other Expenses $29,330,731

TOTAL EXPENSES $47,997,843

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,107,420	$41,521,448	+0.1%
Expenses	$47,997,843	$42,433,064	+0.1%
Net Income	$-2,890,423	$-911,616	+2.2%

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

494

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN BIRGE	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
LEE HINKLE	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CHARLES FAIST	TREASURER	1.00	Officer Director	$0	$0	$0
DAVID C MORELAND	BOARD MEMBER	1.00	Director	$0	$0	$0
JUDSON BOEDECKER	SECRETARY	1.00	Officer Director	$0	$0	$0
REV SONNY MOORE	BOARD MEMBER	1.00	Director	$0	$0	$0
DANA HARRIS	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANK FAIRMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
REGINA M OSBORN	LIFE PLAN CONSULTANT	40.00	Highest	$482,955	$0	$482,955
LISA ANN EVANS	LIFE PLANNING CONSULTANT	40.00	Highest	$273,375	$0	$273,375
JENNIFER BRUNEMAN	LIFE PLAN CONSULTANT	40.00	Highest	$144,592	$0	$144,592
STACEY MONTERO	LIFE PLAN CONSULTANT	40.00	Highest	$124,041	$0	$124,041
JOHN FROST	DIRECTOR OF LIFE PLANNING	40.00	Highest	$120,459	$0	$120,459

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	$45,107,420	$47,997,843	$226,864,644	$-2,890,423
2022	$41,521,448	$42,433,064	$213,044,457	$-911,616
2021	$37,245,180	$39,640,306	$194,012,729	$-2,395,126
2020	$38,732,269	$39,899,774	$162,895,192	$-1,167,505
2019	$36,908,346	$37,884,194	$159,419,601	$-975,848
2018	$35,947,162	$35,899,475	$136,818,045	$47,687