BASSETT HEALTHCARE NETWORK (EIN 133218680) - 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

1938

Legal Domicile

Principal Officer

STACI THOMPSON

Phone

6075473635

Tax Period

2023-01-01 to 2023-12-31

BASSETT HEALTHCARE NETWORK, founded in 1938, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2023. Revenue surged 155% from the prior year, signaling strong growth momentum. The organization ran a surplus of $811K, a strong 62% operating margin.

Mission

MISSION STATEMENT: IMPROVING THE HEALTH OF OUR PATIENTS AND THE WELL-BEING OF OUR COMMUNITIES. VISION: THROUGH ADVANCED INTEGRATED CLINICAL SERVICES, EDUCATION, AND RESEARCH, WE ASPIRE TO BE A MODEL OF EXCELLENCE FOR HEALTH, CREATING REMARKABLE PATIENT EXPERIENCES AND BETTER LIVING.BASSETT HEALTHCARE NETWORK IS THE PARENT ORGANIZATION TO THE MARY IMOGENE BASSETT HOSPITAL (D/B/A BASSETT MEDICAL CENTER), A.O. FOX MEMORIAL HOSPITAL, THE O'CONNOR HOSPITAL, BASSETT HOSPITAL OF SCHOHARIE COUNTY (D/B/A COBLESKILL REGIONAL HOSPITAL), LITTLE FALLS HOSPITAL, VALLEY HEALTH SERVICES, INC., VALLEY RESIDENTIAL SERVICES, FRIENDS OF BASSETT, INC. AND TEMPLETON FOUNDATION PURSUANT TO SECTION 509. THROUGH RESERVE POWERS GIVEN TO THE ORGANIZATION IN THE BYLAWS OF THE SUPPORTED ORGANIZATIONS, THE ORGANIZATION HAS THE POWER TO APPOINT THE DIRECTORS, TRUSTEES, AND PRESIDENTS OF THE SUPPORTED ORGANIZATIONS.

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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 $432,950

Program Service Revenue $426,393

Investment Income $448,809

Other Revenue $0

TOTAL REVENUE $1,308,152

Expense Breakdown

Grants Paid $0

Salaries & Benefits $348,415

Fundraising Expenses $0

Program Expenses $496,963

Other Expenses $148,548

TOTAL EXPENSES $496,963

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,308,152	$512,071	+1.6%
Expenses	$496,963	$18,743,911	-1.0%
Net Income	$811,189	$-18,231,840	-1.0%

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

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

$2,550,589

Total Directors

$742,362

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANE FORBES CLARK	DIRECTOR	1.00	Director	$0	$0	$0
WALTER FRANCK MD	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT HANFT	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS HASTINGS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
TOMMY IBRAHIM MD	PRESIDENT/CEO	1.00	Officer Director	$709,126	$33,236	$742,362
KEVIN S MOORE	DIRECTOR	1.00	Officer Director	$0	$0	$0
CARL MUMMENTHEY	DIRECTOR	1.00	Director	$0	$0	$0
V DANIEL ROBINSON II	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ANIL RUSTGI MD	DIRECTOR	1.00	Director	$0	$0	$0
MARION TERENZIO PHD	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN TURNEY MD	DIRECTOR	1.00	Director	$0	$0	$0
JULIE YOO	DIRECTOR	1.00	Director	$0	$0	$0
LORRAINE ZIMNIEWICZ	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ZOGBY	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY MORGAN	TREASURER	1.00	Officer	$333,397	$3,523	$336,920
PAUL UHRIG	SECRETARY	1.00	Officer	$415,529	$31,495	$447,024
PAUL SWINKO	EVP CFAO	1.00	Officer	$475,222	$13,800	$489,022
REGINALD Q KNIGHT MD	CCIO	1.00	Officer	$504,430	$30,831	$535,261
HENRY WEIL MD	SVP CCAO	1.00	Highest	$691,547	$39,635	$731,182
CHRISTINE PIRRI	SVP CPDO	40.00	Highest	$366,284	$2,420	$368,704
STACI THOMPSON	EVP/COO	1.00	Highest	$311,722	$7,124	$318,846
ANGELA BELMONT	SVP, CHIEF NURSING EXEC	1.00	Highest	$296,818	$5,350	$302,168
DEANNA E CHARLES	SVP, CHIEF AMBULATORY TRANSFORMATION	1.00	Highest	$276,142	$18,342	$294,484

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	$1,308,152	$496,963	$43,633,367	$811,189
2022	$512,071	$18,743,911	$73,046,059	$-18,231,840
2021	$700,853	$23,406,907	$50,201,237	$-22,706,054
2020	$627,948	$330,549	$6,108,535	$297,399
2019	$409,850	$632,758	$6,144,412	$-222,908
2018	$404,394	$238,210	$6,443,411	$166,184

BASSETT HEALTHCARE NETWORK