ISLAND PEER REVIEW ORGANIZATION 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

1983

Legal Domicile

Principal Officer

THEODORE O WILL

Phone

5163267767

Tax Period

2024-08-01 to 2025-07-31

ISLAND PEER REVIEW ORGANIZATION INC, founded in 1983, is a major nonprofit in the Public & Societal Benefit sector that reported $170.7M in total revenue in fiscal year 2024. Revenue surged 62% from the prior year, signaling strong growth momentum. The organization ran a surplus of $74.6M, a strong 44% operating margin.

Mission

IPRO'S MISSION IS TO IMPROVE HEALTH CARE QUALITY AND VALUE BY ENGAGING IN HEALTHCARE ASSESSMENT AND QUALITY IMPROVEMENT ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $75,484,781 Revenue: $162,684,455

IN IPRO'S HEALTH CARE ASSESSMENT ACTIVITIES, UNDER CONTRACT WITH FEDERAL AND STATE GOVERNMENTS, IPRO REVIEWED AND ANALYZED PATIENT CASES TO DETERMINE WHETHER (A) THE HEALTH CARE SERVICES PROVIDED...

IN IPRO'S HEALTH CARE ASSESSMENT ACTIVITIES, UNDER CONTRACT WITH FEDERAL AND STATE GOVERNMENTS, IPRO REVIEWED AND ANALYZED PATIENT CASES TO DETERMINE WHETHER (A) THE HEALTH CARE SERVICES PROVIDED WERE MEDICALLY NECESSARY AND APPROPRIATE, AND (B) THE HEALTH CARE SERVICES DELIVERED MET QUALITY STANDARDS, AND ASSISTED STATES IN THE OVERSIGHT OF HEALTH CARE PROVIDERS AND DATA ANALYTICAL SERVICES. IN IPRO'S HEALTH CARE QUALITY IMPROVEMENT ACTIVITIES, UNDER CONTRACT WITH FEDERAL AND STATE GOVERNMENTS, IPRO WORKED WITH HEALTH CARE PROVIDERS IN HOSPITAL, NURSING HOME, HOME HEALTH, AND PHYSICIAN OFFICE SETTINGS TO IDENTIFY PROBLEMS AND PROPOSE SOLUTIONS TO BE IMPLEMENTED TO IMPROVE THE QUALITY OF HEALTH CARE IN DIVERSE CLINICAL AREAS SUCH AS (BUT NOT LIMITED TO) HEART FAILURE, HEART ATTACK, PNEUMONIA, DIABETES, ASTHMA, PRESSURE ULCERS, SURGICAL CARE INFECTION PREVENTION, CHRONIC KIDNEY DISEASE, CARE TRANSITIONS, AND DRUG SAFETY. WITH RESPECT TO MANAGED CARE PLANS, UNDER CONTRACT WITH STATE GOVERNMENTS, IPRO PROVIDED QUALITY OVERSIGHT TO MEDICAID MANAGED CARE PROGRAMS TO ASSESS WHETHER SUCH PROGRAMS MET REGULATORY AND QUALITY REQUIREMENTS.

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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 $0

Program Service Revenue $166,747,521

Investment Income $3,838,901

Other Revenue $78,152

TOTAL REVENUE $170,664,574

Expense Breakdown

Grants Paid $44,755

Salaries & Benefits $51,299,135

Fundraising Expenses $0

Program Expenses $75,484,781

Other Expenses $44,693,973

TOTAL EXPENSES $96,037,863

Year-over-Year Comparison

	2024	2023	Change
Revenue	$170,664,574	$105,561,912	+0.6%
Expenses	$96,037,863	$94,556,495	+0.0%
Net Income	$74,626,711	$11,005,417	+5.8%

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

435

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

$3,252,385

Total Directors

$56,775

Key Employees

$3,076,847

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN A FRIEDMAN MD	PRESIDENT	0.58	Officer Director	$10,750	$0	$11,000
RAYMOND D SWEENEY	VICE PRESIDENT	0.39	Officer Director	$6,900	$0	$6,900
PAUL J ROWLAND	TREASURER	0.50	Officer Director	$7,550	$0	$7,800
ROBERT J PANZER MD	SECRETARY	0.30	Officer Director	$3,950	$0	$3,950
STUART B ALMER	DIRECTOR THRU JUN 2025	0.27	Director	$3,900	$0	$3,900
CARLOS ALVAREZ	DIRECTOR	0.18	Director	$2,450	$0	$2,450
BRUCE A CHERNOF MD	DIRECTOR THRU JUN 2025	0.18	Director	$2,300	$0	$2,300
DAWN P EDWARDS	DIRECTOR	0.11	Director	$2,000	$0	$2,000
ANNE M HUMIL MD	DIRECTOR	0.16	Director	$2,350	$0	$2,350
ANNETTE HYDE	DIRECTOR	0.16	Director	$1,500	$0	$1,500
NEALAND M LEWIS	DIRECTOR	0.16	Director	$1,300	$0	$1,300
PAUL F MACIELAK ESQ	DIRECTOR	0.17	Director	$0	$0	$0
KIM PRATT	DIRECTOR	0.16	Director	$2,300	$0	$2,300
WILLIAM E SHANAHAN	DIRECTOR	0.31	Director	$3,925	$0	$3,925
LOIS WAGH	DIRECTOR THRU JUN 2025	0.23	Director	$5,100	$0	$5,100
THEODORE O WILL	CHIEF EXECUTIVE OFFICER	42.00	Officer	$831,483	$126,365	$957,848
CLARE BRADLEY POLLET MD	SR. VICE PRESIDENT & CMO	40.00	Officer	$559,445	$57,253	$616,698
EDISON A MACHADO JR MD	SR. VICE PRESIDENT & CSO	40.00	Officer	$440,109	$92,222	$532,331
ALAN WOGHIN	SR. VICE PRESIDENT & CFO	40.00	Officer	$430,796	$95,161	$525,957
HERMAN A JENICH	SR. VICE PRESIDENT & CD & AO	40.00	Officer	$531,090	$58,811	$589,901
PATRICIA J GAGLIANO MD	VICE PRESIDENT, HEALTHCARE	40.00	Key Emp	$347,979	$46,673	$394,652
RICHARD A ALFIERI	VICE PRESIDENT & CIO	40.00	Key Emp	$320,269	$84,944	$405,213
SUSAN E CAPONI	VICE PRESIDENT, ESRD	40.00	Key Emp	$284,958	$39,838	$324,796
TIERRE A JEANNE-PORTER	VICE PRESIDENT, COMPLIANCE	40.00	Key Emp	$279,670	$71,583	$351,253
MATTHEW W ROBERTS	VICE PRESIDENT & CIO	40.00	Key Emp	$277,852	$57,199	$335,051
JENNIFER N EDWARDS	VICE PRESIDENT, MANAGED CARE	40.00	Key Emp	$275,138	$66,640	$341,778
VIRGINIA A HILL	VICE PRESIDENT, MANAGED CARE	40.00	Key Emp	$274,221	$69,803	$344,024
WENDY P FERGUSON	VICE PRESIDENT, HEALTHCARE	40.00	Key Emp	$259,247	$27,365	$286,612
DANA G BENNETT	VICE PRESIDENT, MANAGED CARE	40.00	Key Emp	$223,286	$70,182	$293,468
HARRY M FEDER FORMER SR VP	TECHNICAL ADVISOR AS OF JAN 2024	40.00	Highest	$611,682	$31,128	$642,810
FRANK N MATTHES	ASSISTANT VICE PRESIDENT, DATA	40.00	Highest	$256,159	$14,617	$270,776
MONTY M BODENHEIMER MD	MEDICAL DIRECTOR	32.00	Highest	$252,988	$69,002	$321,990
SARA A BUTTERFIELD	ASSISTANT VICE PRESIDENT, HEALTHCARE	40.00	Highest	$231,951	$45,444	$277,395
MARY BETH CONROY	SR. DIRECTOR, DATA	40.00	Highest	$222,117	$12,907	$235,024

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	$170,664,574	$96,037,863	$230,806,995	$74,626,711
2024	$105,561,912	$94,556,495	$101,035,416	$11,005,417
2023	$83,195,802	$79,889,347	$74,844,323	$3,306,455
2022	$67,872,419	$66,228,781	$60,921,112	$1,643,638
2021	$69,591,386	$66,160,102	$59,283,462	$3,431,284
2021	$69,591,386	$66,160,102	$59,283,462	$3,431,284
2020	$66,657,716	$64,304,580	$56,091,056	$2,353,136
2019	$64,755,714	$64,424,702	$52,945,236	$331,012
2018	$63,831,601	$65,496,136	$52,846,543	$-1,664,535