HOLLENBECK PALMS

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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

2001

Legal Domicile

Principal Officer

MORRIS SHOCKLEY

Phone

3232636195

Tax Period

2022-07-01 to 2023-06-30

HOLLENBECK PALMS, founded in 2001, is a mid-sized nonprofit in the Housing & Shelter sector that reported $25.0M in total revenue in fiscal year 2022. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $23.7M left a modest 5% surplus.

Mission

HOLLENBECK PALMS IS COMMITTED TO PROVIDING A RESIDENCE FOR THOSE IN THE LATER YEARS OF THEIR LIVES THAT ENCOMPASSES A HEALTHY ENVIRONMENT OF COMFORT, SAFETY, AND ENJOYMENT; THAT ATTENDS TO THEIR PHYSICAL, MENTAL, AND SPIRITUAL NEEDS.

Program Service Accomplishments

Program 1

Expenses: $18,674,001 Revenue: $17,101,469

HOLLENBECK PALMS PROVIDES CARE FOR THE AGING, INCLUDING RESIDENTIAL, ASSISTED LIVING, MEMORY ENHANCEMENT AND SKILLED NURSING CARE LIVING ARRANGEMENTS FOR THEIR MEMBERS. DURING THE YEAR, SERVICES WERE...

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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 (2022)

Revenue Breakdown

Contributions & Grants $3,869,016

Program Service Revenue $17,045,960

Investment Income $3,893,980

Other Revenue $212,267

TOTAL REVENUE $25,021,223

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,617,710

Fundraising Expenses $196,980

Program Expenses $18,674,001

Other Expenses $11,128,972

TOTAL EXPENSES $23,746,682

Year-over-Year Comparison

	2022	2021	Change
Revenue	$25,021,223	$21,479,111	+0.2%
Expenses	$23,746,682	$20,498,539	+0.2%
Net Income	$1,274,541	$980,572	+0.3%

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

235

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

$634,436

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL JOHNSTON	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
CASEY ADAMS	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL DAVIS	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM KUMAGAI	BOARD MEMBER	1.00	Director	$0	$0	$0
EDWARD GARLOCK	BOARD MEMBER	1.00	Director	$0	$0	$0
KATHERINE A KIRCHHOFF	BOARD MEMBER	1.00	Director	$0	$0	$0
ELLEN PIERCE	BOARD MEMBER	1.00	Director	$0	$0	$0
MORRIS SHOCKLEY	PRESIDENT & CEO	40.00	Officer	$220,033	$21,280	$241,313
PATRICIA MURPHY	VICE-PRESIDENT	40.00	Officer	$168,762	$44,976	$213,738
JOHNNY YOUNG	CFO	40.00	Officer	$152,037	$27,348	$179,385
GARY ZUPPARDO	CHIEF ENGINEER	40.00	Highest	$191,390	$20,171	$211,561
IVANIA RAMIREZ	DIRECTOR OF NURSING	40.00	Highest	$165,489	$3,500	$168,989
AKHERE OSEZUA	ASST. DIRECTOR OF NURSING	40.00	Highest	$158,305	$17,921	$176,226
ZHANA DUBIN	ADMISSIONS DIRECTOR	40.00	Highest	$150,655	$12,695	$163,350
MARI ORTEGA-RUEDA	RN CHARGE NURSE	40.00	Highest	$143,423	$17,835	$161,258

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$25,021,223	$23,746,682	$87,844,249	$1,274,541
2022	$21,479,111	$20,498,539	$86,831,720	$980,572
2021	$22,351,666	$19,898,299	$91,601,425	$2,453,367
2020	$18,313,454	$18,824,623	$83,559,690	$-511,169
2019	$17,186,491	$17,578,154	$85,510,383	$-391,663
2018	$18,766,874	$17,237,636	$86,146,302	$1,529,238