FLORIDA PACE CENTERS 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

2000

Legal Domicile

Phone

3057621393

Tax Period

2024-07-01 to 2025-06-30

FLORIDA PACE CENTERS INC, founded in 2000, is a major nonprofit in the Housing & Shelter sector that reported $142.0M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $127.9M left a modest 10% surplus.

Mission

FLORIDA PACE CENTERS' PRIMARY EXEMPT PURPOSE IS TO PROVIDE HEALTH AND SUPPORTIVE SERVICES TO SENIORS LIVING AT HOME WHO MEET THE STATE OF FLORIDA DEPARTMENT OF ELDER AFFAIRS' REQUIREMENTS FOR NURSING HOME LEVEL CARE.

Program Service Accomplishments

Program 1

Expenses: $106,118,769 Revenue: $142,016,162

THE ORGANIZATION PROVIDES HEALTH AND SUPPORTIVE SERVICES TO THE FRAIL ELDERLY, WHO MEET THE STATE OF FLORIDA DEPARTMENT OF ELDER AFFAIRS' REQUIREMENTS FOR NURSING HOME LEVEL CARE, BUT PREFER TO...

THE ORGANIZATION PROVIDES HEALTH AND SUPPORTIVE SERVICES TO THE FRAIL ELDERLY, WHO MEET THE STATE OF FLORIDA DEPARTMENT OF ELDER AFFAIRS' REQUIREMENTS FOR NURSING HOME LEVEL CARE, BUT PREFER TO REMAIN IN THEIR HOMES. THROUGH ITS MULTI-DISCIPLINARY TEAM, THE PACE PROGRAM IS RESPONSIBLE FOR COORDINATING AND CONTRACTING TO PROVIDE MEDICAL SERVICES, IN-PATIENT AND OUT-PATIENT HOSPITAL SERVICES, PHARMACY SERVICES, AND IN-HOME SERVICES. IN THE CURRENT YEAR, THE ORGANIZATION PROVIDED SERVICES TO AN AVERAGE OF 1,233 ELDERLY INDIVIDUALS EACH MONTH.

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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 $32,919

Program Service Revenue $142,016,162

Investment Income $0

Other Revenue $0

TOTAL REVENUE $142,049,081

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,212,612

Fundraising Expenses $232,670

Program Expenses $106,118,769

Other Expenses $101,692,893

TOTAL EXPENSES $127,905,505

Year-over-Year Comparison

	2024	2023	Change
Revenue	$142,049,081	$121,068,234	+0.2%
Expenses	$127,905,505	$114,051,233	+0.1%
Net Income	$14,143,576	$7,017,001	+1.0%

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

354

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

$2,619,320

Total Directors

$1,521,278

Key Employees

$1,450,065

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAYSON RITTENBERG	VICE CHAIR	1.0	Officer Director	$0	$0	$0
JEFFREY FREIMARK	CHAIR	1.0	Officer Director	$0	$14,000	$1,521,278
ALEXANDER FERNANDEZ	DIRECTOR	1.0	Director	$0	$0	$0
MERLINE BARTON	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL KARUKIN	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL SILVER	DIRECTOR	1.0	Director	$0	$0	$0
ALAN GOLDSMITH	TREASURER	10.0	Officer	$0	$77,523	$653,155
LESLIE TORRES	SECRETARY	1.0	Officer	$0	$4,640	$104,697
STEVEN HESS	PRESIDENT	40.0	Officer	$324,666	$15,524	$340,190
ARETHA NELSON-CASIMIR	MEDICAL DIRECTOR	40.0	Key Emp	$291,974	$12,337	$304,311
EDILIA ALZUGARAY	ASSOCIATE VICE PRESIDENT	40.0	Key Emp	$391,242	$26,995	$418,237
IVAN DOMINGUEZ CASILLAS	MEDICAL DIRECTOR	40.0	Key Emp	$285,912	$10,023	$295,935
JUAN SANCHEZ	VP OF FINANCE	40.0	Key Emp	$208,178	$2,311	$210,489
MARIA LANE	ASSOCIATE VICE PRESIDENT	40.0	Key Emp	$215,314	$5,779	$221,093
ASTRID MONTENEGRO	WESTCHESTER SITE DIRECTOR	40.0	Highest	$139,430	$5,853	$145,283
ENRICE JONES	SITE DIRECTOR	40.0	Highest	$139,743	$6,507	$146,250
MIREYA TRIANA	DIRECTOR OF CLINICAL OPERA	40.0	Highest	$146,279	$6,245	$152,524
RUBENCIO GIL CARABALLO	SR SITE DIRECTOR	40.0	Highest	$143,802	$11,149	$154,951
SUZANA SIMOES	DIRECTOR OF REHABILITATION	40.0	Highest	$139,143	$22,209	$161,352

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	$142,049,081	$127,905,505	$110,250,767	$14,143,576
2024	$121,068,234	$114,051,233	$94,546,089	$7,017,001
2023	$100,071,722	$93,307,803	$81,304,750	$6,763,919
2022	$77,306,731	$68,701,425	$68,300,995	$8,605,306
2021	$73,566,290	$65,733,439	$59,896,234	$7,832,851
2021	$73,566,290	$65,733,439	$59,896,234	$7,832,851
2020	$69,294,139	$63,637,880	$47,196,919	$5,656,259
2019	$56,075,674	$52,160,394	$41,908,205	$3,915,280
2018	$55,388,384	$47,837,229	$39,167,753	$7,551,155