NEW DIRECTIONS 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

1992

Legal Domicile

Principal Officer

RUDY GRIMALDO

Phone

3109144045

Tax Period

2023-01-01 to 2023-12-31

NEW DIRECTIONS INC, founded in 1992, is a community nonprofit that reported $7.9M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year.

Mission

NEW DIRECTIONS, INC. WAS ORGANIZED PURSUANT TO THE GENERAL NONPROFIT CORPORATION LAWS OF THE STATE OF CALIFORNIA FOR THE PURPOSE OF EMPOWERING MEN AND WOMEN WHO SERVED IN THE MILITARY AND THEIR FAMILIES TO LEAD PRODUCTIVE AND FULFILLING LIVES. NEW DIRECTIONS, INC. CONTINUES TO DO BUSINESS AS NEW DIRECTIONS FOR VETERANS (NDVETS).

Program Service Accomplishments

Program 1

Expenses: $3,436,179 Revenue: $2,988,949

VA GRANT PER DIEM PROGRAM: BUILDING 116 HOUSES NEW DIRECTION'S 120-BED TRANSITIONAL SHELTER WHERE VETERANS CAN STAY FOR UP TO 24 MONTHS. IN 2023, THE TRANSITIONAL SHELTER SERVED 266 VETERANS AND...

VA GRANT PER DIEM PROGRAM: BUILDING 116 HOUSES NEW DIRECTION'S 120-BED TRANSITIONAL SHELTER WHERE VETERANS CAN STAY FOR UP TO 24 MONTHS. IN 2023, THE TRANSITIONAL SHELTER SERVED 266 VETERANS AND PROVIDED CASE MANAGEMENT, CLOTHING, FOOD, HOUSING LOCATION AND PLACEMENT. ADDITIONALLY, IT OFFERED INDIVIDUAL AND GROUP THERAPY, JOB TRAINING AND PLACEMENT, LEGAL ASSISTANCE, MENTAL HEALTH TREATMENT, REMEDIAL EDUCATION, SUBSTANCE ABUSE TREATMENT, AND TRANSPORTATION.

Program 2

Expenses: $1,270,695 Revenue: $1,381,852

PERMANENT SUPPORTIVE HOUSING PROGRAMS: IN 2023, WE OPERATED THIRTEEN LOCATIONS PROVIDING PERMANENT SUPPORTIVE HOUSING TO 535 VETERANS. OUR PSH PROGRAM SERVES RESIDENTS COMING FROM INCARCERATION AND OTHER TEMPORARY HOUSING SOLUTIONS IN ORDER TO KEEP THEM IN A PERMANENT RESIDENCE. WE PROVIDE ALL-INCLUSIVE SERVICES TO THE RESIDENTS SUCH AS TRANSPORTATION, SUPPORTIVE SERVICES, AND OUTSIDE RESOURCES TO ASSIST WITH DAILY LIVING ROUTINES.

Program 3

Expenses: $610,109 Revenue: $527,149

CLINICAL PROGRAM (DMH): ALL CLINICAL SERVICES ARE AVAILABLE TO OUR VETERANS. CORE MENTAL HEALTH SERVICES ARE INCLUDED IN THE CLINICAL TREATMENT PROGRAM. OUR CLINICAL TEAM IS COMPRISED OF MARRIAGE & FAMILY THERAPY PRE-LICENSED INTERNS AND TRAINEES, AND LICENSED THERAPISTS. THERAPISTS PARTICIPATE IN A MULTI-DISCIPLINARY TEAM TO COORDINATE CASE MANAGEMENT AND MENTAL HEALTH SERVICES, INCLUDING PREVENTION AND EARLY INTERVENTION SERVICES, INDIVIDUAL PSYCHOTHERAPY, AND GROUP PSYCHOTHERAPY. IN 2023, 88 VETERANS WERE SERVED.

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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 $2,342,798

Program Service Revenue $5,501,074

Investment Income $5

Other Revenue $84,156

TOTAL REVENUE $7,928,033

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,876,573

Fundraising Expenses $326,992

Program Expenses $6,602,518

Other Expenses $2,869,817

TOTAL EXPENSES $7,746,390

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,928,033	$9,617,711	-0.2%
Expenses	$7,746,390	$7,013,904	+0.1%
Net Income	$181,643	$2,603,807	-0.9%

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

110

Volunteers

200

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

$215,003

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBIE APPLEQUIST	BOARD MEMBER (OUTGOING)	2.00	Director	$0	$0	$0
ELIJAH ADAMS	BOARD MEMBER	2.00	Director	$0	$0	$0
JENNIFER KIM	SECRETARY	2.00	Officer Director	$0	$0	$0
JOHN EBEY	BOARD MEMBER (OUTGOING)	2.00	Director	$0	$0	$0
MARK ROBESON	TREASURER	2.00	Officer Director	$0	$0	$0
MARTIN WHELAN	BOARD MEMBER	2.00	Director	$0	$0	$0
RUDY GRIMALDO	CHAIR	2.00	Officer Director	$0	$0	$0
SAM HARRIS	BOARD MEMBER (OUTGOING)	2.00	Director	$0	$0	$0
DARIN SELNICK	BOARD MEMBER	2.00	Director	$0	$0	$0
THOMAS VICK	BOARD MEMBER	2.00	Director	$0	$0	$0
RAYMOND DELGADO	BOARD MEMBER	2.00	Director	$0	$0	$0
LEONARDO CUADRADO	EXECUTIVE DIRECTOR	40.00	Officer	$199,923	$15,080	$215,003
SUSAN MICHAEL	CHIEF PROGRAM OFFICER	40.00	Highest	$144,214	$12,112	$156,326
MIRIEL AMALIA THOMPSON	CONTROLLER	40.00	Highest	$110,424	$12,080	$122,504
FILIPPO MARIA FORNI	DIRECTOR OF CLINICAL SERVICES	40.00	Highest	$111,515	$19,429	$130,944

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	$7,928,033	$7,746,390	$7,692,194	$181,643
2022	$9,617,711	$7,013,904	$7,412,903	$2,603,807
2021	$8,819,852	$6,996,646	$4,505,811	$1,823,206
2020	$6,906,331	$7,032,749	$3,638,505	$-126,418
2019	$5,814,417	$7,239,240	$3,001,880	$-1,424,823
2018	$7,531,461	$9,085,507	$3,898,915	$-1,554,046
2018	$7,673,577	$9,087,923	$4,488,523	$-1,414,346