CARMEL MANOR 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

1949

Legal Domicile

Principal Officer

SR JEANNE HALEY

Phone

8597815111

Tax Period

2023-01-01 to 2023-12-31

CARMEL MANOR INC, founded in 1949, is a mid-sized nonprofit in the Health Care sector that reported $11.3M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $15.7M exceeded revenue, resulting in a 39% operating deficit.

Mission

THE MISSION OF THE HOME IS TO PROVIDE CARE AND SERVICES TO THE COMMUNITY IN CONFORMANCE WITH THE THEOLOGY; PHILOSOPHY; TEACHINGS AND DOCTRINES OF THE ROMAN CATHOLIC CHURCH, RESPECTING AND BUILDING ON THE MISSION, PHILOSOPHY, AND VALUES OF THE CARMELITE SISTERS FOR THE AGED AND INFIRM.

Program Service Accomplishments

Program 1

Expenses: $13,989,208 Revenue: $11,212,330

CARMEL MANOR OPERATES A NURSING HOME AND A PERSONAL CARE HOME IN FORT THOMAS, KENTUCKY WHICH SERVES THE NEEDS OF UP TO 145 INDIVIDUALS. THE HOME PROVIDES PROFESSIONAL AND PERSONAL SERVICES IN A...

CARMEL MANOR OPERATES A NURSING HOME AND A PERSONAL CARE HOME IN FORT THOMAS, KENTUCKY WHICH SERVES THE NEEDS OF UP TO 145 INDIVIDUALS. THE HOME PROVIDES PROFESSIONAL AND PERSONAL SERVICES IN A COMPASSIONATE AND CARING MANNER TO MEMBERS OF THE FORT THOMAS AND SURROUNDING COMMUNITIES AND OTHER LOCATIONS THAT SEEK OUR SERVICES. THE HOME SERVED HUNDREDS OF OUR NEIGHBORS AND THEIR FAMILIES WITHOUT REGARD TO THEIR ETHNIC BACKGROUND, RELIGION, OR FINANCIAL CIRCUMSTANCES.

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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 $60,850

Program Service Revenue $11,141,677

Investment Income $48

Other Revenue $86,759

TOTAL REVENUE $11,289,334

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,831,073

Fundraising Expenses $4,004

Program Expenses $13,989,208

Other Expenses $10,916,353

TOTAL EXPENSES $15,747,426

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,289,334	$10,000,437	+0.1%
Expenses	$15,747,426	$14,480,195	+0.1%
Net Income	$-4,458,092	$-4,479,758	0.0%

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

200

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

$761,648

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SR JEANNE FRANCIS HALEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
MR JEFFREY BRAULEY	TREASURER	1.00	Officer Director	$0	$0	$0
MS CATHERINE MILLETTE MORRISON	SECRETARY	1.00	Officer Director	$0	$0	$0
MR MICHAEL DESMOND	MEMBER	1.00	Director	$0	$0	$0
SR LOIS BANIEWICZ	MEMBER	1.00	Director	$0	$0	$0
SR MARY LUANN BENDER	MEMBER	1.00	Director	$0	$0	$0
SR ANN BROWN	MEMBER	1.00	Director	$0	$0	$0
DR ADAM HAAS	MEMBER	1.00	Director	$0	$0	$0
SR M THERESA KATHLEEN DOMINICK	MEMBER	1.00	Director	$0	$0	$0
SR MARIA ROBERT MULLEN	MEMBER	1.00	Director	$0	$0	$0
MR MATT KLEIN	MEMBER	1.00	Director	$0	$0	$0
SR ANN MCCARTNEY	MEMBER	1.00	Director	$0	$0	$0
DR PATRICK J MCCAULEY	MEMBER	1.00	Director	$0	$0	$0
MR THOMAS SAALFELD	MEMBER	1.00	Director	$0	$0	$0
SR MAUREEN MURRAY OCARM	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PATRICIA GATHERS	PRESIDENT / CEO / COO	1.00	Officer	$0	$48,935	$761,648
MS EDESSA LANADA	REGISTERED NURSE	40.00	Highest	$144,560	$3,764	$148,324
ANTHONY UGHETTI	ADMINISTRATOR	31.00	Highest	$124,393	$4,243	$128,636
MICHAEL MEYER	DIRECTOR OF NURSING	40.00	Highest	$108,248	$2,629	$110,877

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	$11,289,334	$15,747,426	$24,964,073	$-4,458,092
2022	$10,000,437	$14,480,195	$26,340,632	$-4,479,758
2021	$10,534,065	$11,058,665	$26,524,202	$-524,600
2020	$9,910,164	$12,646,242	$28,852,560	$-2,736,078
2019	$12,639,529	$12,367,455	$29,549,424	$272,074
2018	$11,477,123	$12,934,737	$28,708,333	$-1,457,614