Homer Senior Citizens Incorporated

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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

1973

Legal Domicile

Principal Officer

Sarah Weideman

Phone

9072357655

Tax Period

2023-07-01 to 2024-06-30

Homer Senior Citizens Incorporated, founded in 1973, is a community nonprofit in the Human Services sector that reported $3.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $3.1M left a modest 14% surplus.

Mission

The center's operations include providing congregate and home delivered nutrition services, transportation, recreational activities, referral services and adult day care services to senior citizens.

Program Service Accomplishments

Program 1

Expenses: $920,454 Revenue: $1,013,861

Nutrition, Transportation and Support - Provides meals, transportation and support (i.e. shopping, arranging homemaking, information, etc.) to qualified individuals in the community and surrounding...

Program 2

Expenses: $920,453 Revenue: $1,013,860

Adult Day Care - Provides qualified staff to assist with various activities (i.e. nutrition, special events, and recreational activities). This program allows individuals to remain in the community by providing day care so that other members of the family can work and carry out daily activities.

Program 3

Expenses: $920,453 Revenue: $1,013,860

Housing:Bartlett Terrace Independent Living - Provides maintenance and operation of a 9-unit independent living apartment complex located a few blocks from the Homer Senior Center.KBSH Independent...

Housing:Bartlett Terrace Independent Living - Provides maintenance and operation of a 9-unit independent living apartment complex located a few blocks from the Homer Senior Center.KBSH Independent Living - Provides for Kachemak Bay Senior Housing which is a 24-unit independent living apartment complex located across the street from the Homer Senior Center.Pioneer Vista Independent Living - Provides for maintenance and operation of a 8-unit independent living apartment complex located adjacent to the Homer Senior Center.Swatzell Terrace Independent Living - Provides maintenance and operation of a 4-unit independent living apartment complex located a few blocks from the Homer Senior Center.The Terrace Assisted Living - Provides for operation of a 40-unit apartment complex serving residents 55 and older who require assistance with two or more daily activities. Depending on the need, residents are helped with laundry, eating, medication monitoring, cleaning, bathing, walking and toileting.

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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 $523,013

Program Service Revenue $3,041,581

Investment Income $4

Other Revenue $0

TOTAL REVENUE $3,564,598

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,547,316

Fundraising Expenses $0

Program Expenses $2,761,360

Other Expenses $1,520,862

TOTAL EXPENSES $3,068,178

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,564,598	$3,274,798	+0.1%
Expenses	$3,068,178	$3,596,461	-0.1%
Net Income	$496,420	$-321,663	-2.5%

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

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

$177,523

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Connie Ball	Finance Dir.	40.00	Officer	$89,960	$0	$89,960
Keren Kelly	Executive Dir.	40.00	Officer	$87,563	$0	$87,563
Mildred Martin	President	1.00	Officer Director	$0	$0	$0
Michael Jimerson	Vice President	1.00	Officer Director	$0	$0	$0
Sharon Wilson	Secretary	1.00	Officer Director	$0	$0	$0
Bryan Zak	Treasurer	1.00	Officer Director	$0	$0	$0
Tiffanie Story	Member	1.00	Director	$0	$0	$0
Bruce Barnes	Member	1.00	Director	$0	$0	$0
Sharm Setterquist	Member	1.00	Director	$0	$0	$0
James Hornaday	Member	1.00	Director	$0	$0	$0
Stephen Mueller	Member	1.00	Director	$0	$0	$0

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	$3,564,598	$3,068,178	$6,240,540	$496,420
2023	$3,274,798	$3,596,461	$5,358,354	$-321,663
2022	$3,152,596	$3,442,003	$5,258,287	$-289,407
2021	$3,686,285	$3,449,830	$5,709,735	$236,455
2020	$3,583,360	$3,529,846	$5,634,338	$53,514
2019	$3,202,798	$3,390,044	$5,691,670	$-187,246
2018	$3,285,127	$3,406,734	$5,937,714	$-121,607