THE PROVIDENCE COMMUNITY HEALTH CE… - Form 990 Financial Data

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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

1976

Legal Domicile

Principal Officer

MERRILL THOMAS

Phone

4014440400

Tax Period

2023-01-01 to 2023-12-31

THE PROVIDENCE COMMUNITY HEALTH CENTERS INC, founded in 1976, is a major nonprofit that reported $122.6M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $19.5M, a strong 16% operating margin.

Mission

PROVIDE NEIGHBORHOOD-BASED HIGH QUALITY AND ACCESSIBLE PRIMARY MEDICAL CARE TO IMPROVE THE HEALTH STATUS OF THE RESIDENTS OF PROVIDENCE AND SURROUNDING COMMUNITIES REGARDLESS OF THEIR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $64,937,667 Revenue: $59,778,553

PATIENT SERVICEPROVISION OF PRIMARY HEALTH CARE TO RESIDENTS IN PROVIDENCE ALSO PROVIDING SPECIALIZED CARE AT 13 SITES IN PROVIDENCE. IN FY23, WE SERVED OVER 62,500 PATIENTS WITH OVER 285,000 PATIENT...

Program 2

Expenses: $5,721,975 Revenue: $4,938,243

DENTALPCHC DENTAL OFFERS COMPREHENSIVE DENTAL CARE INCLUDING: EXAMINATIONS, RADIOGRAPHS, CLEANINGS, FLUORIDE TREATMENTS, SEALANTS, FILLINGS AND EXTRACTIONS. PCHC DENTAL CLINIC PROVIDES DENTAL...

DENTALPCHC DENTAL OFFERS COMPREHENSIVE DENTAL CARE INCLUDING: EXAMINATIONS, RADIOGRAPHS, CLEANINGS, FLUORIDE TREATMENTS, SEALANTS, FILLINGS AND EXTRACTIONS. PCHC DENTAL CLINIC PROVIDES DENTAL SERVICES TO CHILDREN UNDER THE AGE OF 19 AND PREGNANT WOMEN; ADULT SERVICES INCLUDE PREVENTATIVE AND RESTORATIVE TREATMENTS. IN FY23, WE SERVED 10,400 PATIENTS WITH 21,400 PATIENT VISITS.

Program 3

Expenses: $11,714,374 Revenue: $18,946,189

PHARMACY - 340B340B PROGRAM IS ESSENTIAL TO HELPING PROVIDERS STRETCH LIMITED RESOURCES TO BETTER SERVE VULNERABLE COMMUNITIES AND TO MANAGE RISING PRESCRIPTION DRUG COSTS. 340B CONTRACTS WITH...

PHARMACY - 340B340B PROGRAM IS ESSENTIAL TO HELPING PROVIDERS STRETCH LIMITED RESOURCES TO BETTER SERVE VULNERABLE COMMUNITIES AND TO MANAGE RISING PRESCRIPTION DRUG COSTS. 340B CONTRACTS WITH WALMART, CVS, WALGREENS, AND OTHER LOCAL PHARMACIES TO PROVIDE PRESCRIPTIONS AT REDUCED PRICING TO PCHC PATIENTS. IN FY23 THERE WERE 49,013 PATIENTS UTILIZING CONTRACT PHARMACY AND 371,085 PRESCRIPTIONS SENT TO CONTRACT PHARMACY.

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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 $36,428,048

Program Service Revenue $83,478,853

Investment Income $955,121

Other Revenue $1,752,352

TOTAL REVENUE $122,614,374

Expense Breakdown

Grants Paid $161,877

Salaries & Benefits $68,810,844

Fundraising Expenses $0

Program Expenses $82,374,016

Other Expenses $34,108,207

TOTAL EXPENSES $103,080,928

Year-over-Year Comparison

	2023	2022	Change
Revenue	$122,614,374	$105,876,406	+0.2%
Expenses	$103,080,928	$96,705,349	+0.1%
Net Income	$19,533,446	$9,171,057	+1.1%

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

832

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

$1,009,791

Total Directors

Key Employees

$2,027,241

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL BROWN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
AMBER BICHUN	TREAS. (UNTIL 12/23)/VICE CHAIR	1.00	Officer Director	$0	$0	$0
MEGHAN HOPKINS ESQ	B.MEM(AS OF 10/23)/SECR.(AS OF 12/23)	1.00	Officer Director	$0	$0	$0
RAFAEL YEPEZ	B.MEM(AS OF 9/23)/TREAS.(AS OF 12/23)	1.00	Officer Director	$0	$0	$0
CASSANDRA FEENEY ESQ	SECR. (UNTIL 12/2023)/BOARD MEMBER	1.00	Director	$0	$0	$0
J RUSSELL CORCORAN MD	BOARD MEMBER	1.00	Director	$0	$0	$0
EMILLIAN EGBUCHE	BOARD MEMBER	1.00	Director	$0	$0	$0
N JOSEPH ESPAT MD	BOARD MEMBER	1.00	Director	$0	$0	$0
MAYLEM ESTRELLA	BOARD MEMBER (AS OF 12/2023)	1.00	Director	$0	$0	$0
RICHARD HEMPHILL	BOARD MEMBER	1.00	Director	$0	$0	$0
YEISHA MERRARO	BOARD MEMBER (AS OF 12/2023)	1.00	Director	$0	$0	$0
BYRON MONGE	BOARD MEMBER (AS OF 7/2023)	1.00	Director	$0	$0	$0
WENDY THOMAS	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINA ZANFAGNA	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL CANCILLIERE	BOARD MEMBER	1.00	Director	$0	$0	$0
ALTHEA GRAVES	BOARD MEMBER (UNTIL 8/2023)	1.00	Director	$0	$0	$0
JOSEPH NAGLE	BOARD MEMBER (UNTIL 8/2023)	1.00	Director	$0	$0	$0
MICHELLE ROSARIO	BOARD MEMBER (UNTIL 1/2023)	1.00	Director	$0	$0	$0
MARY FRANCIS BISHOP RN	BOARD MEMBER (UNTIL 12/2023)	1.00	Director	$0	$0	$0
MERRILL THOMAS	PRESIDENT AND CEO	40.00	Officer	$621,513	$29,156	$650,669
KEVIN CABRAL	VP AND CFO	40.00	Officer	$338,097	$21,025	$359,122
ANDREW SAAL	VP AND CMO (UNTIL 6/2023)	40.00	Key Emp	$422,069	$20,693	$442,762
KIMBERLY O'CONNELL	VP AND CHIEF TRANSFORMATION OFFICER	40.00	Key Emp	$361,217	$22,769	$383,986
CHERYL PERRY	VP AND CHIEF HUMAN RESOURCES OFFICER	40.00	Key Emp	$296,539	$14,306	$310,845
SUSANA CONKLIN	VP AND CHIEF OF STAFF	40.00	Key Emp	$249,845	$19,359	$269,204
JAY DECOSTA	VP AND CIO	40.00	Key Emp	$239,803	$18,950	$258,753
NADINE HEWAMUDALIGE	VP AND CMO (AS OF 7/2023)	40.00	Key Emp	$340,262	$21,429	$361,691
ALTUG KOYMEN	MD OB/GYN	40.00	Highest	$402,291	$23,558	$425,849
ANNE MURRAY	MD OB/GYN	40.00	Highest	$327,035	$21,515	$348,550
MANSI JAMES	MD ASTHMA/ALLERGY	40.00	Highest	$307,579	$21,568	$329,147
LIBERTAD THELMA FLORES	MD OB/GYN	40.00	Highest	$272,030	$20,412	$292,442
STANLEY BLOCK	EMERITUS CMO	35.00	Highest	$282,129	$27,786	$309,915

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	$122,614,374	$103,080,928	$156,874,561	$19,533,446
2022	$105,876,406	$96,705,349	$129,084,289	$9,171,057
2021	$88,659,107	$85,033,487	$92,213,963	$3,625,620
2020	$82,471,576	$78,256,988	$81,139,584	$4,214,588
2019	$75,506,573	$68,020,124	$76,653,344	$7,486,449
2018	$61,566,425	$58,584,656	$66,080,196	$2,981,769

THE PROVIDENCE COMMUNITY HEALTH CENTERS INC