PALMER SENIOR CITIZENS CENTER INC

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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

1980

Legal Domicile

Principal Officer

TIM PETTIT

Phone

9077455454

Tax Period

2023-07-01 to 2024-06-30

PALMER SENIOR CITIZENS CENTER INC, founded in 1980, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $2.9M exceeded revenue, resulting in a 25% operating deficit.

Mission

PRIMARY MISSION IS TO PROMOTE HONOR, DIGNITY, SECURITY, AND INDEPENDENCE FOR OLDER ALASKANS AND TO ASSIST THEM IN MAINTAINING MEANINGFUL QUALITY LIVES.

Program Service Accomplishments

Program 1

Expenses: $939,433 Revenue: $133,562

MEALS AND TRANSPORTATION: PROVIDE NUTRITIONAL MEALS AND SOCIALIZATION IN A CONGREGATE SETTING. PROVIDE NUTRITIONAL HOME-DELIVERED MEALS. PROVIDE TRANSPORTATION TO AND FROM THE CENTER FOR CONGREGATE MEALS AND CENTER ACTIVITIES. PROVIDE TRANSPORTATION TO NECESSARY MEDICAL APPOINTMENTS AND ADULT DAY SERVICES.

Program 2

Expenses: $720,523 Revenue: $492,297

HOUSING: MSSS OWNS AND OPERATES COLONY ESTATES AND OPERATES AND MANAGES CHUGACH ESTATES SENIOR HOUSING, 24 UNITS AND 31 UNITS, RESPECTIVELY, SENIOR HOUSING FACILITIES LOCATED IN PALMER. 48 UNITS ARE RESERVED FOR SENIORS WITH LOW, FIXED INCOMES AT OR BELOW 60% OF AREA MEDIAN INCOME. NATIONAL FAMILY CAREGIVER:FOCUSES ON THE NEEDS OF THE FAMILY CAREGIVERS. MSSS PROVIDED 25 CAREGIVERS CASE MANAGEMENT, INFORMATION, REFERRAL, AND SUPPORT SERVICES ENABLING THEM TO KEEP THEIR LOVED ONES LIVING AS INDEPENDENTLY AS POSSIBLE. RESPITE WAS PROVIDED AT ADULT DAY SERVICES.

Program 3

Expenses: $354,415 Revenue: $135,067

ADULT DAY SERVICES: PROVIDE DAY CARE SERVICES FOR THE ELDERLY WITH ALZHEIMER'S AND RELATED DISEASES. TOTAL EXPENSES WERE 276,326

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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 $1,484,074

Program Service Revenue $773,510

Investment Income $5,326

Other Revenue $73,075

TOTAL REVENUE $2,335,985

Expense Breakdown

Grants Paid $2,496

Salaries & Benefits $1,178,289

Fundraising Expenses $89,836

Program Expenses $2,290,695

Other Expenses $1,739,449

TOTAL EXPENSES $2,920,234

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,335,985	$3,875,292	-0.4%
Expenses	$2,920,234	$3,139,732	-0.1%
Net Income	$-584,249	$735,560	-1.8%

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

$101,508

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM PETTIT	CEO	40.00	Officer	$101,508	$0	$101,508
WILLIAM INGRAM	PRESIDENT	1.00	Officer Director	$0	$0	$0
DORA WHEELER	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
ELDA MCCRAW	SECRETARY	1.00	Officer Director	$0	$0	$0
VIRGINIA SWEENEY	TREASURER	1.00	Officer Director	$0	$0	$0
MERLE BEETER	BOARD MEMBER	1.00	Director	$0	$0	$0
SUSAN WELTON THRU 923	BOARD MEMBER	1.00	Director	$0	$0	$0
CATHERINE HALL THRU 923	BOARD MEMBER	1.00	Director	$0	$0	$0
LINDA COMBS	BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS SCHULMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
MEG BURDETTE SMITH	BOARD 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	$2,335,985	$2,920,234	$13,170,264	$-584,249
2023	$3,875,292	$3,139,732	$14,346,278	$735,560
2022	$2,646,551	$3,465,848	$13,596,343	$-819,297
2021	$2,893,048	$3,036,374	$14,399,628	$-143,326
2020	$2,713,380	$3,479,548	$14,353,075	$-766,168
2019	$3,040,953	$4,058,974	$15,308,826	$-1,018,021
2018	$2,733,579	$4,111,783	$16,249,437	$-1,378,204