THIRD WAY CENTER INC (EIN 840599572) - 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

1970

Legal Domicile

Principal Officer

DAVID KOEHLER

Phone

3037809191

Tax Period

2023-01-01 to 2023-12-31

THIRD WAY CENTER INC, founded in 1970, is a mid-sized nonprofit in the Mental Health sector that reported $19.5M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.3M, a strong 27% operating margin.

Mission

TO OPERATE FIVE RESIDENTIAL TREATMENT FACILITIES AND ONE TRANSITIONAL HOUSING FACILITY WHICH PROVIDES CARE FOR ADOLESCENTS.

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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 $771,351

Program Service Revenue $18,773,571

Investment Income $82,806

Other Revenue $-106,793

TOTAL REVENUE $19,520,935

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,128,468

Fundraising Expenses $244,486

Program Expenses $12,077,524

Other Expenses $3,055,912

TOTAL EXPENSES $14,184,380

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,520,935	$15,890,670	+0.2%
Expenses	$14,184,380	$12,534,543	+0.1%
Net Income	$5,336,555	$3,356,127	+0.6%

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

226

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

$690,800

Total Directors

$690,800

Key Employees

$236,502

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HILDEGARD MESSENBAUGH MD	MEDICAL DIRECTOR	40.00	Officer Director	$224,176	$0	$224,176
DAVID EISNER	EXECUTIVE DIRECTOR-RETIRED 2023	40.00	Officer Director	$52,593	$1,734	$54,327
RENEE JOHNSON	EXECUTIVE DIRECTOR	40.00	Officer Director	$206,160	$11,100	$217,260
DAVID KOEHLER	ASST EXECUTIVE DIRECTOR	40.00	Officer Director	$191,986	$3,051	$195,037
BRENDAN BARTIC	BOARD CHAIR	2.00	Director	$0	$0	$0
GARY GRAY	VICE CHAIR	2.00	Director	$0	$0	$0
JEAN E SMITH GONNELL	BOARD SECRETARY	2.00	Director	$0	$0	$0
PATRICK SOBERS	BOARD TREASURER	2.00	Director	$0	$0	$0
DAVID EISNER	BOARD MEMBER	2.00	Director	$0	$0	$0
MEG EVERETT	BOARD MEMBER	2.00	Director	$0	$0	$0
SALLY JOHNSTON	BOARD MEMBER	2.00	Director	$0	$0	$0
MATTHEW MCCORMICK	BOARD MEMBER	2.00	Director	$0	$0	$0
STACY OHLSSON	BOARD MEMBER	2.00	Director	$0	$0	$0
MELANIE SCHONINGER	BOARD MEMBER	2.00	Director	$0	$0	$0
MIRA EKLUND	ASST MEDICAL DIRECTOR	36.00	Key Emp	$215,004	$21,498	$236,502
KRISTINE EDMONDS	CLINICAL DIRECTOR	40.00	Highest	$141,162	$2,867	$144,029
KIM RENNER	ASST CLINICAL DIR-COMMUNITY	40.00	Highest	$117,811	$2,422	$120,233
DANA FREISINGER	ASST CLINICAL DIR-PRTF	40.00	Highest	$102,711	$25,590	$128,301

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	$19,520,935	$14,184,380	$22,852,021	$5,336,555
2022	$15,890,670	$12,534,543	$16,253,914	$3,356,127
2021	$12,672,196	$11,492,872	$12,292,960	$1,179,324
2020	$12,641,911	$11,246,124	$10,977,029	$1,395,787
2019	$11,194,794	$10,841,038	$9,516,560	$353,756
2018	$11,460,762	$10,473,992	$9,358,969	$986,770

THIRD WAY CENTER INC