PSALMS Inc (EIN 621106224) - Form 990 Financial Analysis & Trantor Score

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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

1983

Legal Domicile

Principal Officer

Rudolf Herzke

Phone

9013653665

Tax Period

2024-01-01 to 2024-12-31

PSALMS Inc, founded in 1983, is a mid-sized nonprofit in the Human Services sector that reported $28.7M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

PSALMS, Inc. d/b/a Kirby Pines Retirement Community is dedicated to providing residents with a quality lifestyle in a quality environment, supporting the concept of continued independence as a priority in the life care decision.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,040,552

Program Service Revenue $24,873,720

Investment Income $746,638

Other Revenue $53,954

TOTAL REVENUE $28,714,864

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,950,910

Fundraising Expenses $0

Program Expenses $22,792,761

Other Expenses $18,298,878

TOTAL EXPENSES $28,249,788

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,714,864	$25,994,892	+0.1%
Expenses	$28,249,788	$30,654,281	-0.1%
Net Income	$465,076	$-4,659,389	-1.1%

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

391

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

$70,662

Total Directors

$70,662

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rudolf W Herzke	President	22.00	Officer Director	$52,632	$0	$52,632
Dr James Latimer	Chairman	1.00	Officer Director	$18,030	$0	$18,030
Larry Braughton	Secretary/Treasurer (Beg 04/2024)	22.00	Officer Director	$0	$0	$0
Berry Terry	Secretary/Treasurer (Until 04/2024)	22.00	Officer Director	$0	$0	$0
Jim Ethridge	Director	1.00	Director	$0	$0	$0
Linda Harrington	Director	1.00	Director	$0	$0	$0
Mary Ann Hodges	Director	1.00	Director	$0	$0	$0
Rusty E Linkous	Director	1.00	Director	$0	$0	$0
Boyd Rhodes Jr	Director	1.00	Director	$0	$0	$0
Michael J Brown Jr	Executive Director	40.00	Officer	$0	$0	$0
Trudy Schenkenberger	Director of Human Resources	40.00	Highest	$106,768	$0	$106,768
Barry N Rossell	Licensed Practical Nurse	40.00	Highest	$102,113	$0	$102,113
Michael A Rayder	Director of Grounds & Landscaping	40.00	Highest	$102,647	$0	$102,647
Anna R Bradford	Nursing Home/Assisted Living	40.00	Highest	$117,314	$0	$117,314
Audie Marlar	Director of Medical Services	40.00	Highest	$108,404	$0	$108,404

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	$28,714,864	$28,249,788	$66,748,555	$465,076
2023	$25,994,892	$30,654,281	$71,757,299	$-4,659,389
2022	$26,304,402	$30,249,437	$74,159,973	$-3,945,035
2021	$27,771,852	$29,937,046	$74,570,809	$-2,165,194
2020	$33,983,532	$30,711,013	$77,389,222	$3,272,519
2019	$30,140,651	$31,203,297	$76,123,700	$-1,062,646
2018	$29,273,846	$29,723,661	$75,783,998	$-449,815

PSALMS Inc