Legacy Senior Services

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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

Eric Lunde

Phone

7635375700

Tax Period

2023-01-01 to 2023-12-31

Legacy Senior Services, founded in 2001, is a mid-sized nonprofit in the Health Care sector that reported $16.3M in total revenue in fiscal year 2023.

Mission

Legacy Senior Services' mission is to create communities of dignity, passion, and respect for adults and to partner with other not for profit organizations across the country. Through its efforts, Legacy Senior Services seeks to provide broad continuums of care to promote the health, mind, and spirit of those we serve.

Program Service Accomplishments

Program 1

Expenses: $13,126,740 Revenue: $15,836,379

Legacy Senior Services is a Minnesota corporation that operates a 49-bed skilled nursing facility and a 20-unit independent living facility located in Wheaton, Minnesota called Traverse Care Center. Traverse Care Center had an average daily census of 31 during 2023.Legacy Senior Services is organized to own and operate facilities with the intent of housing elderly and other vulnerable persons and meeting their healthcare, residential, physical and social needs. Legacy Senior Services is the sole member of four other limited liability companies which operate as skilled nursing, assisted living, and/or independent living facilities as follows: -LSS of Frazee, LLC, a 74-bed skilled nursing facility, a 19 unit assisted living facility, and an 8 unit independent living facility located in Frazee, Minnesota and a 15 unit assisted living facility located in Vergas, Minnesota. LSS of Frazee, LLC had an average daily census of 79 during 2023. -LSS of Marycrest, LLC, a 138 unit assisted living facility located in Denver, Colorado. LSS of Marycrest, LLC had an average daily census of 133 during 2023. All of the skilled nursing facilities are Medicare and Medicaid certified.

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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 $441,009

Program Service Revenue $15,836,371

Investment Income $2,527

Other Revenue $0

TOTAL REVENUE $16,279,907

Expense Breakdown

Grants Paid $7,000

Salaries & Benefits $8,838,823

Fundraising Expenses $0

Program Expenses $13,126,740

Other Expenses $7,772,037

TOTAL EXPENSES $16,617,860

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,279,907	$16,303,160	0.0%
Expenses	$16,617,860	$15,741,263	+0.1%
Net Income	$-337,953	$561,897	-1.6%

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

390

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

$16,800

Total Directors

$31,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Eric Lund	President/Treasurer	5.00	Officer Director	$12,000	$0	$12,000
Roger Green	Secretary	5.00	Officer Director	$4,800	$0	$4,800
Joel Jensen	Director	5.00	Director	$4,800	$0	$4,800
Robert Beck	Director	5.00	Director	$4,800	$0	$4,800
Nadine Paitich	Director	5.00	Director	$4,800	$0	$4,800
Patrick Krejci	Admin. - LSS of Frazee & Traverse	40.00	Officer	$0	$0	$0
Dawn Eckert	Administrator - LSS of Frazee	40.00	Officer	$0	$0	$0
Samantha Stocke	Administrator-LSS of Marycrest	40.00	Officer	$0	$0	$0
Gifty Opare	Administrator-LSS of Marycrest	40.00	Officer	$0	$0	$0
Samantha Gerland partial year	Administrator - Traverse Care Center	40.00	Officer	$0	$0	$0
Tina Moore	Director of Nursing	40.00	Highest	$106,870	$10,169	$117,039
Hellen Omwenga	RN	40.00	Highest	$112,016	$0	$112,016

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	$16,279,907	$16,617,860	$10,431,343	$-337,953
2022	$16,303,160	$15,741,263	$10,817,792	$561,897
2021	$24,431,986	$23,743,694	$13,981,648	$688,292
2020	$24,625,122	$25,354,036	$22,110,267	$-728,914
2019	$22,331,157	$23,316,782	$19,290,175	$-985,625
2018	$22,980,455	$22,752,937	$13,766,965	$227,518