CALVARY FUND 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

1985

Legal Domicile

Principal Officer

JEFFERY MENKES

Phone

7185182069

Tax Period

2023-01-01 to 2023-12-31

CALVARY FUND INC, founded in 1985, is a community nonprofit in the Health Care sector that reported $8.2M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 16% operating margin.

Mission

THE CALVARY FUND'S PRIMARY EXEMPT PURPOSE IS TO RAISE PUBLIC CONTRIBUTIONS TO SUPPORT THE TAX-EXEMPT MISSION OF CALVARY HOSPITAL, INC.

Program Service Accomplishments

Program 1

Expenses: $3,356,000 Revenue: $0

THE CALVARY FUND, INC. ("THE FUND") WAS INCORPORATED ON JANUARY 7, 1985 AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NEW YORK. THE FUND'S PURPOSE IS TO SOLICIT, ACCEPT, AND RECEIVE REAL AND PERSONAL PROPERTY AND TO COLLECT INCOME, THEREFROM, TO BE APPLIED EXCLUSIVELY FOR ANY HEALTH RELATED CHARITABLE ORGANIZATION AFFILIATED WITH THE ROMAN CATHOLIC ARCHDIOCESE OF NEW YORK. ALL EXPENSES INCURRED TO FURTHER THE FUND'S FUNDRAISING ENDEAVORS ARE ALLOCATED TO PART IX, COLUMN (D) AND THEREFORE, ONLY THE FUND'S ANNUAL CONTRIBUTION ($3,356,000 IN 2023) TO ITS SUPPORTED ORGANIZATION, CALVARY HOSPITAL, IS REPORTED AS A PROGRAM SERVICE EXPENSE. ALL EXPENSES REPORTED IN COLUMN (D) SHOULD, LIKEWISE BE CONSIDERED PROGRAM SERVICE EXPENSES.

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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 $5,305,780

Program Service Revenue $0

Investment Income $3,315,200

Other Revenue $-411,380

TOTAL REVENUE $8,209,600

Expense Breakdown

Grants Paid $3,356,000

Salaries & Benefits $1,567,401

Fundraising Expenses $3,304,500

Program Expenses $3,356,000

Other Expenses $1,406,295

TOTAL EXPENSES $6,908,700

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,209,600	$6,733,200	+0.2%
Expenses	$6,908,700	$6,742,700	+0.0%
Net Income	$1,300,900	$-9,500	-137.9%

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

N/A

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

$922,370

Total Directors

$710,191

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK CALAMARI	EX-OFFICIO	0.50	Director	$0	$39,285	$710,191
CARLOS M HERNANDEZ	CHAIRMAN	1.00	Officer Director	$0	$0	$0
EILEEN T NUGENT ESQ	VICE-CHAIR	0.50	Officer Director	$0	$0	$0
MICHAEL J BRESCIA MD-EMERITUS	DIRECTOR (NON-VOTING) (THRU 04/23)	0.50	Director	$0	$0	$0
BONNIE BRENNAN	DIRECTOR	0.50	Director	$0	$0	$0
JOSEPH DEGLOMINI JR	DIRECTOR	0.50	Director	$0	$0	$0
DANIEL E DONOVAN	DIRECTOR	0.50	Director	$0	$0	$0
STEVEN J GOLUB	EMERITUS DIRECTOR (NON-VOTING)	0.50	Director	$0	$0	$0
EMILY YODER JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
DIAHN W MCGRATH	DIRECTOR	0.50	Director	$0	$0	$0
DANIEL J MCSWIGGAN ESQ	DIRECTOR	0.50	Director	$0	$0	$0
JAY MONAGHAN	DIRECTOR	0.50	Director	$0	$0	$0
EDWARD R MORRISSEY	DIRECTOR	0.50	Director	$0	$0	$0
JAMES O'HARA	DIRECTOR	0.50	Director	$0	$0	$0
LOUISE PARENT	EMERITUS DIRECTOR (NON-VOTING)	0.50	Director	$0	$0	$0
AL ROKER	DIRECTOR	0.50	Director	$0	$0	$0
DENNIS M SCHNEIDER	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL JA SMITH	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT E SPATT ESQ	DIRECTOR	0.50	Director	$0	$0	$0
JOSEPH A TARANTINO	DIRECTOR	0.50	Director	$0	$0	$0
GERRY TOBIN	EMERITUS DIRECTOR (NON-VOTING)	0.50	Director	$0	$0	$0
TIMOTHY BARR	EXEC. VP/TREASURER/SECRETARY	37.00	Officer	$392,259	$92,419	$484,678
ANDREW V GRECO	CHIEF FINANCIAL OFFICER	1.00	Officer	$0	$70,539	$437,692
ELIZABETH KOUGASIAN	DIRECTOR, MAJOR & PLANNED	37.00	Highest	$123,762	$9,466	$133,228

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	$8,209,600	$6,908,700	$37,701,200	$1,300,900
2022	$6,733,200	$6,742,700	$34,903,500	$-9,500
2021	$7,394,900	$5,540,700	$41,461,500	$1,854,200
2020	$6,241,100	$6,373,400	$37,168,500	$-132,300
2019	$10,161,000	$8,503,900	$33,467,500	$1,657,100
2018	$9,044,700	$6,580,900	$28,179,850	$2,463,800