SPECTRUM HEALTH SYSTEMS INC (EIN 042478978) - 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

1971

Legal Domicile

Principal Officer

KURT ISAACSON

Phone

5087925400

Tax Period

2024-07-01 to 2025-06-30

SPECTRUM HEALTH SYSTEMS INC, founded in 1971, is a major nonprofit in the Mental Health sector that reported $124.4M in total revenue in fiscal year 2024. The organization ran a surplus of $23.3M, a strong 19% operating margin.

Mission

TO PROVIDE THE HIGHEST QUALITY OF SERVICES TO INDIVIDUALS SEEKING TREATMENT FOR SUBSTANCE ABUSE AND/OR MENTAL HEALTH ISSUES. WE ASSIST OUR CLIENTS IN ACHIEVING SOBRIETY, SUSTAINING RECOVERY AND FULFILLING PERSONAL GOALS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $32,040

Program Service Revenue $120,003,286

Investment Income $4,236,339

Other Revenue $105,731

TOTAL REVENUE $124,377,396

Expense Breakdown

Grants Paid $592,978

Salaries & Benefits $77,275,648

Fundraising Expenses $3,729

Program Expenses $87,115,518

Other Expenses $23,181,049

TOTAL EXPENSES $101,049,675

Year-over-Year Comparison

	2024	2023	Change
Revenue	$124,377,396	$123,600,492	+0.0%
Expenses	$101,049,675	$89,818,827	+0.1%
Net Income	$23,327,721	$33,781,665	-0.3%

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

1522

Volunteers

N/A

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

$2,337,215

Total Directors

Key Employees

$1,567,197

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHERYL GALLANT	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
VERILYN MITCHELL	VICE CHAIRPERSON	2.00	Officer Director	$0	$0	$0
SUSAN SUCHOCKI-BROWN	SECRETARY	2.00	Officer Director	$0	$0	$0
JEROAN ALLISON	TRUSTEE	2.00	Director	$0	$0	$0
JAMES CELESTIN	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN GARRITY	TRUSTEE	2.00	Director	$0	$0	$0
BRENDA JENKINS	TRUSTEE	2.00	Director	$0	$0	$0
JOHN RENNER	TRUSTEE	2.00	Director	$0	$0	$0
KASHIF SADDIQUI	TRUSTEE	2.00	Director	$0	$0	$0
KURT ISAACSON	PRESIDENT/CEO	40.00	Officer	$416,898	$54,072	$470,970
JOSEPH ROSE	CFO/TREASURER	40.00	Officer	$249,916	$39,335	$289,251
JEFF BAXTER	CMO	40.00	Officer	$335,591	$24,551	$360,142
KRISTIN NOLAN	CHIEF BEHAVIORAL OFFICER	40.00	Officer	$256,360	$11,835	$268,195
CHRISTOPHER PETROZZI	CHIEF ORGANIZATIONAL DEVEL	40.00	Officer	$98,216	$18,882	$117,098
STACY FLANAGAN	CHIEF OF HUMAN RESOURCES	40.00	Officer	$198,494	$32,761	$231,255
JONATHAN MILLER	CHIEF OF INFORMATION TECHN	40.00	Officer	$173,660	$14,199	$187,859
LISA BLANCHARD	CHIEF CLINICAL OFFICER	40.00	Officer	$189,948	$32,761	$222,709
CYNTHIA BURACZYNSKI	VP OF EXTERNAL AFFAIRS	40.00	Officer	$153,723	$36,013	$189,736
ROGELIO BAYOG	PSYCHIATRIST	40.00	Key Emp	$353,623	$24,949	$378,572
SHARIF NANKOE	OUTPATIENT MEDICAL DIRECTO	40.00	Key Emp	$317,755	$23,090	$340,845
QAISER KHAN	PSYCHIATRIST	40.00	Key Emp	$312,815	$11,526	$324,341
JOHN CHISHOLM	MEDICAL DIRECTOR	40.00	Key Emp	$279,646	$89	$279,735
LORI BUSZKIEWICZ	PROGRAM PHYSICIAN	40.00	Key Emp	$225,543	$18,161	$243,704

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	$124,377,396	$101,049,675	$202,756,626	$23,327,721
2024	$123,600,492	$89,818,827	$172,612,942	$33,781,665
2023	$110,947,466	$85,549,196	$134,545,623	$25,398,270
2022	$99,816,707	$81,690,090	$99,799,670	$18,126,617
2021	$97,478,022	$75,814,765	$87,563,287	$21,663,257
2020	$85,319,539	$75,329,813	$65,962,191	$9,989,726
2019	$75,335,569	$67,867,442	$52,948,859	$7,468,127
2018	$67,273,763	$63,999,374	$45,708,968	$3,274,389

SPECTRUM HEALTH SYSTEMS INC