Gateway Healthcare Inc (EIN 050309043) - 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

1995

Legal Domicile

Principal Officer

Henry T Sachs III MD

Phone

4016676502

Tax Period

2023-10-01 to 2024-09-30

Gateway Healthcare Inc, founded in 1995, is a mid-sized nonprofit in the Mental Health sector that reported $32.3M in total revenue in fiscal year 2023. Expenses of $37.0M exceeded revenue, resulting in a 15% operating deficit.

Mission

The development, establishment, operation, maintenance, and provision of mental health and substance abuse treatment services and other related services for children, adults, the elderly, and families in Rhode Island and neighboring communities.

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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 $6,803,311

Program Service Revenue $23,641,101

Investment Income $146,062

Other Revenue $1,682,452

TOTAL REVENUE $32,272,926

Expense Breakdown

Grants Paid $0

Salaries & Benefits $30,312,743

Fundraising Expenses $0

Program Expenses $27,862,661

Other Expenses $6,698,739

TOTAL EXPENSES $37,011,482

Year-over-Year Comparison

	2023	2022	Change
Revenue	$32,272,926	$30,918,868	+0.0%
Expenses	$37,011,482	$35,174,464	+0.1%
Net Income	$-4,738,556	$-4,255,596	+0.1%

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

450

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

$4,179,830

Total Directors

$4,520,449

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Timothy J Babineau	Fmr. Director	0.00		$0	$1,336,393	$3,679,676
John Fernandez	Director	0.50	Director	$0	$307,376	$2,456,122
Ziya L Gokaslan MD	Director	0.50	Director	$0	$52,686	$1,709,285
Peter K Markell	EVP & CFO	0.50	Officer	$0	$18,928	$1,212,570
Paul J Adler	Secretary	1.00	Officer	$0	$151,085	$1,077,941
Henry T Sachs III MD	President	10.00	Officer	$0	$29,458	$797,201
Eva Greenwood	Treasurer	0.50	Officer	$0	$87,891	$737,076
G Alan Kurose	Fmr. Trustee	0.00		$593,347	$11,416	$604,763
Scott DiChristofero	CFO-10/28/23	10.00	Officer Director	$0	$33,388	$355,042
Stephen Chabot	Medical Director	39.00		$0	$17,427	$289,118
Joan E Salhany	VP of Operations	40.00		$263,999	$19,902	$283,901
Kelly A Collins	Clin. Nurse Spec.	40.00		$149,183	$20,160	$169,343
Rose Marie Zmyslinski	Clin. Nurse Spec.	40.00		$155,194	$11,003	$166,197
Susan E Stevenson	Dir. - Child Svcs.	40.00		$140,142	$19,500	$159,642
Katherine Pichie	Mgr. - Adult Res.	40.00		$137,485	$16,866	$154,351
Doris Santagata	Dir. Adult Svcs.	40.00		$121,802	$16,242	$138,044
Lawrence A Aubin Sr	Chair	0.50	Officer Director	$0	$0	$0
Emanuel Barrows	Director	0.50	Director	$0	$0	$0
Roger N Begin	Director	2.00	Director	$0	$0	$0
Peter Capodilupo	Vice Chair	0.00	Director	$0	$0	$0
Chris Cocks	Director	0.00	Director	$0	$0	$0
Sarah T Dowling JD LLM	Director	0.00	Director	$0	$0	$0
Edward D Feldstein Esq	Director	0.00	Director	$0	$0	$0
Michael L Hanna	Director	0.10	Director	$0	$0	$0
Phillip Kydd	Director	0.50	Director	$0	$0	$0
Alan H Litwin	Vice Chair	0.50	Officer Director	$0	$0	$0
Martha B Mainiero MD	Director	0.10	Director	$0	$0	$0
Paula McNamara	Director	0.00	Director	$0	$0	$0
Steven Pare	Director-12/23	0.00	Director	$0	$0	$0
Janet Robinson	Director	0.00	Director	$0	$0	$0
Lawrence B Sadwin	Director	0.00	Director	$0	$0	$0
Shivan Subramaniam	Director	0.25	Director	$0	$0	$0
Angel Taveras	Director	0.00	Director	$0	$0	$0
Jane Williams PhD RN	Director-12/23	5.00	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
2024	$32,272,926	$37,011,482	$12,289,616	$-4,738,556
2023	$30,918,868	$35,174,464	$11,928,456	$-4,255,596
2022	$29,192,755	$28,660,411	$13,645,996	$532,344
2021	$29,233,767	$28,500,206	$13,387,913	$733,561
2020	$32,881,709	$32,140,854	$12,924,801	$740,855
2019	$28,907,147	$33,191,641	$10,959,404	$-4,284,494
2018	$28,365,891	$33,105,653	$11,767,352	$-4,739,762

Gateway Healthcare Inc