CARE INITIATIVES (EIN 760262402) - 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

1989

Legal Domicile

Principal Officer

MICHAEL BEAL

Phone

5152244442

Tax Period

2023-01-01 to 2023-12-31

CARE INITIATIVES, founded in 1989, is a major nonprofit in the Health Care sector that reported $261.1M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

CHARITABLE NON-PROFIT: 43 NURSING HOMES, 8 ASSISTED LIVING FACILITIES, 3 SENIOR LIVING APARTMENT LOCATIONS, 7 HOSPICE LOCATIONS.

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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 $832,082

Program Service Revenue $259,437,351

Investment Income $826,140

Other Revenue $-20,322

TOTAL REVENUE $261,075,251

Expense Breakdown

Grants Paid $183,507

Salaries & Benefits $153,094,875

Fundraising Expenses $0

Program Expenses $239,927,886

Other Expenses $108,529,960

TOTAL EXPENSES $261,808,342

Year-over-Year Comparison

	2023	2022	Change
Revenue	$261,075,251	$237,982,008	+0.1%
Expenses	$261,808,342	$254,494,807	+0.0%
Net Income	$-733,091	$-16,512,799	-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

5819

Volunteers

101

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

$2,002,418

Total Directors

$941,827

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL BEAL	PRESIDENT/CEO/VICE CHAIR	40.00	Officer Director	$697,817	$23,510	$721,327
JOSEPH REESE	SVP/COO	40.00	Officer	$466,689	$4,054	$470,743
DAVID DIXON	SVP/CFO/TREASURER	40.00	Officer	$419,154	$910	$420,064
ERIC WOODMAN	VP HOME HEALTH & HOSPICE	40.00	Highest	$337,373	$171	$337,544
JOHANNA VOLM	VP/CLINICAL SERVICES	40.00	Highest	$289,666	$9,027	$298,693
CYNTHIA WILLIAMS	VP INFORMATION SYSTEMS	40.00	Highest	$288,381	$7,481	$295,862
JERAMY KUHN	VP - CHIEF COMPLIANCE OFFI	40.00	Highest	$286,158	$8,721	$294,879
ELIZABETH GANA	CHARGE NURSE-LPN	86.00	Highest	$279,060	$0	$279,060
JESSICA MCDYER	VP SKILLED NURSING OPERATIONS	40.00	Officer	$227,167	$26,830	$253,997
JENNIFER HARWOOD	VP HOSPICE	40.00	Officer	$78,681	$1,606	$80,287
DENISE STURM	BOARD CHAIR	2.00	Officer Director	$28,000	$0	$28,000
STEVEN ACKERSON	SECRETARY	3.00	Officer Director	$28,000	$0	$28,000
LANE BOWEN	DIRECTOR	2.00	Director	$28,000	$0	$28,000
MARY JANE CAROTHERS	DIRECTOR	2.00	Director	$28,000	$0	$28,000
KEITH KREIN	DIRECTOR	3.00	Director	$28,000	$0	$28,000
ELIZABETH RUST	DIRECTOR	3.00	Director	$28,000	$0	$28,000
LINDA UPMEYER	DIRECTOR	4.00	Director	$28,000	$0	$28,000
KEVIN CHILDS	DIRECTOR FROM 4/2023	1.00	Director	$17,500	$0	$17,500
RON HARMOND	DIRECTOR THRU 3/2023	1.00	Director	$7,000	$0	$7,000

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	$261,075,251	$261,808,342	$173,375,162	$-733,091
2022	$237,982,008	$254,494,807	$177,858,014	$-16,512,799
2021	$223,919,944	$221,174,551	$187,351,959	$2,745,393
2020	$212,958,169	$207,120,775	$190,076,380	$5,837,394
2019	$192,722,659	$191,399,173	$183,418,361	$1,323,486
2018	$188,697,841	$188,773,157	$188,887,260	$-75,316

CARE INITIATIVES