Foundation Medical Partners

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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

James Watkins

Phone

6035772000

Tax Period

2023-07-01 to 2024-06-30

Foundation Medical Partners, founded in 1992, is a major nonprofit in the Health Care sector that reported $127.6M in total revenue in fiscal year 2023. Expenses of $168.0M exceeded revenue, resulting in a 32% operating deficit.

Mission

The Organization is dedicated to providing exceptional care that improves the health and well-being of individuals and communities we serve. The Organization is a provider of choice, delivering convenient access to high value, quality care in an environment that embraces dignity, compassion and service to the people of our community.

Program Service Accomplishments

Program 1

Expenses: $158,292,589 Revenue: $127,350,603

Health Care Services

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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 $257,336

Program Service Revenue $126,368,239

Investment Income $0

Other Revenue $982,364

TOTAL REVENUE $127,607,939

Expense Breakdown

Grants Paid $0

Salaries & Benefits $123,397,344

Fundraising Expenses $0

Program Expenses $158,292,589

Other Expenses $44,589,435

TOTAL EXPENSES $167,986,779

Year-over-Year Comparison

	2023	2022	Change
Revenue	$127,607,939	$125,311,940	+0.0%
Expenses	$167,986,779	$164,929,885	+0.0%
Net Income	$-40,378,840	$-39,617,945	+0.0%

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

1004

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

$2,951,437

Total Directors

$2,233,388

Key Employees

$591,603

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Karen Maynard MD	Trustee	42.00	Director	$653,545	$50,111	$703,656
Colin T McHugh	SNHMC President/CEO/Secretary	2.00	Officer Director	$0	$50,993	$775,177
Marc Sadowsky MD	Trustee	2.00	Director	$0	$0	$70,574
John Friberg Esq	Interim CEO, SolutionHealth	2.00	Officer Director	$0	$115,687	$683,981
Melliyal Annamalai	Trustee	2.00	Director	$0	$0	$0
Sister Paula Marie Buley	Trustee	2.00	Director	$0	$0	$0
Alonzo Deberry	Trustee	2.00	Director	$0	$0	$0
Helen Honorow Esq	Trustee	2.00	Director	$0	$0	$0
The Hon Joseph N Laplante	Trustee	2.00	Director	$0	$0	$0
K Brian McLaughlin	Trustee	2.00	Director	$0	$0	$0
Eitan Zeira	Trustee	2.00	Director	$0	$0	$0
Craig Fitzgerald	Acting Chair	2.00	Officer Director	$0	$0	$0
Bobbie D Bagley	Vice Chair	2.00	Officer Director	$0	$0	$0
Mark William Begor Jr	Treasurer	2.00	Officer Director	$0	$0	$0
James Watkins	FMP Interim President	40.00	Officer	$0	$0	$635,600
Kenneth Matsis	VP Finance, Southern NH Health	2.00	Officer	$0	$2,115	$148,802
Michael Turilli	SVP/CFO, SolutionHealth	2.00	Officer	$0	$110,268	$707,877
Salvatore Vella Jr	Chief Medical Officer	20.00	Key Emp	$513,175	$78,428	$591,603
Tung T Nguyen MD	Physician	40.00	Highest	$1,034,812	$77,224	$1,112,036
Michael R Kaczanowski MD	Physician	40.00	Highest	$1,099,401	$77,014	$1,176,415
Mollie A MacCormack MD	Physician	40.00	Highest	$1,124,272	$43,512	$1,167,784
Witta Jassir	Physician	40.00	Highest	$1,047,063	$42,201	$1,089,264
Edward A Sirlin III MD	Physician	40.00	Highest	$912,470	$43,777	$956,247

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	$127,607,939	$167,986,779	$63,068,368	$-40,378,840
2023	$125,311,940	$164,929,885	$57,147,729	$-39,617,945
2022	$127,393,246	$163,332,003	$51,959,863	$-35,938,757
2021	$126,187,618	$157,949,667	$61,944,014	$-31,762,049
2020	$117,018,082	$159,479,930	$50,683,382	$-42,461,848
2018	$114,160,768	$147,365,873	$48,786,470	$-33,205,105