HOSPICE CARE NETWORK (EIN 112925757) - 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

1988

Legal Domicile

Principal Officer

MICHAEL DOWLING

Phone

5163216058

Tax Period

2023-01-01 to 2023-12-31

HOSPICE CARE NETWORK, founded in 1988, is a mid-sized nonprofit in the Human Services sector that reported $62.8M in total revenue in fiscal year 2023. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $59.0M left a modest 6% surplus.

Mission

OUR MISSION IS TO ENABLE PERSONS TO LIVE WITH PEACE AND DIGNITY IN A CARING ENVIRONMENT DURING THE FINAL STAGES OF LIFE BY OFFERING CARE AND COMFORT TO PATIENTS AND THEIR FAMILIES

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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 $1,294,626

Program Service Revenue $58,911,075

Investment Income $2,560,953

Other Revenue $27,259

TOTAL REVENUE $62,793,913

Expense Breakdown

Grants Paid $0

Salaries & Benefits $39,585,905

Fundraising Expenses $500,255

Program Expenses $52,414,148

Other Expenses $19,383,009

TOTAL EXPENSES $58,968,914

Year-over-Year Comparison

	2023	2022	Change
Revenue	$62,793,913	$46,519,304	+0.3%
Expenses	$58,968,914	$47,927,400	+0.2%
Net Income	$3,824,999	$-1,408,096	-3.7%

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

465

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

$28,923,285

Total Directors

$10,403,676

Key Employees

$546,648

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DOWLING	President & CEO	0.0	Officer Director	$0	$70,612	$9,042,544
MARK SOLAZZO	Pres, Strategic Initiatives &	0.0	Officer	$0	$63,855	$3,710,066
DAVID BATTINELLI	EVP & Physician in Chief	0.0	Officer	$0	$78,569	$1,814,841
MICHELE CUSACK	EVP & CFO	0.0	Officer	$0	$78,507	$1,696,458
JOSEPH MOSCOLA	EVP, Enterprise Services	0.0	Officer	$0	$50,769	$1,651,192
JEFFREY KRAUT	EVP Strategy	0.0	Officer	$0	$64,879	$1,534,296
EUGENE TANGNEY	SVP & Chf Bus Continuity & Cri	0.0	Officer	$0	$78,507	$1,451,043
RICHARD MILLER	EVP & Chf Business Strategy Of	0.0	Officer	$0	$63,119	$1,401,009
LAURENCE KRAEMER	EVP, Gen Coun, CLO & Asst Sec	0.0	Officer	$0	$69,888	$1,372,753
DONNA DRUMMOND	SVP & Chf Expense Officer	0.0	Officer	$0	$63,119	$1,217,650
KONSTANTINE COSTALAS	SVP, Managed Care	0.0	Officer	$0	$78,507	$1,177,868
RALPH NAPPI	EVC	0.0	Officer Director	$0	$64,637	$1,036,826
MARK GLOADE	SVP, Dep Gen Coun, Dep CLO & A	0.0	Officer	$0	$78,507	$1,022,226
TARA LIBERMAN	Executive Director	50.0	Key Emp	$509,748	$36,900	$546,648
HARRY GINDI	Assistant Secretary	0.0	Officer	$0	$64,637	$470,207
LORI ANN ATTIVISSIMO	Hospice Physician	50.0	Highest	$353,123	$50,769	$403,892
MINDY PORETSKY	Assoc Exec Dir Clinical Ops	50.0	Highest	$263,465	$64,615	$328,080
MARK CLASTER	Vice Chairman	0.0	Officer Director	$0	$0	$324,306
SUSAN SELTZER	Manager, Hospice Care Nursing	50.0	Highest	$247,387	$38,917	$286,304
DARRIN LONDON	AVP, Hospice Care	50.0	Highest	$261,873	$22,912	$284,785
RUCHIKA HARISINGANI	Hospice Physician	50.0	Highest	$257,025	$22,622	$279,647
MARGARET CROTTY	Chairman	0.0	Officer Director	$0	$0	$0
MICHAEL EPSTEIN	Immediate Past Chairman	0.0	Officer Director	$0	$0	$0
RICHARD GOLDSTEIN	Vice Chairman	0.0	Officer Director	$0	$0	$0
WILLIAM MACK	Vice Chairman	0.0	Officer Director	$0	$0	$0
BARRY RUBENSTEIN	Vice Chairman	0.0	Officer Director	$0	$0	$0
ROBERT ROSENTHAL	Treasurer	0.0	Officer Director	$0	$0	$0
DONALD ZUCKER	Secretary	0.0	Officer Director	$0	$0	$0
NON COMPENSATED TRUSTEES	SEE SCHEDULE O	0.0	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	No data	No data	No data	No data
2023	$62,793,913	$58,968,914	$92,576,843	$3,824,999
2022	$46,519,304	$47,927,400	$78,205,008	$-1,408,096
2021	$55,850,359	$49,023,972	$95,498,541	$6,826,387
2020	$59,772,673	$50,141,100	$97,795,039	$9,631,573
2019	$54,296,552	$51,725,844	$73,188,887	$2,570,708
2018	$53,537,217	$48,653,313	$57,582,520	$4,883,904

HOSPICE CARE NETWORK