Harrington Physician Services 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

2008

Legal Domicile

Principal Officer

john bronhard

Phone

5087653010

Tax Period

2020-10-01 to 2021-09-30

Harrington Physician Services Inc, founded in 2008, is a mid-sized nonprofit in the Health Care sector that reported $24.1M in total revenue in fiscal year 2020. Expenses of $33.4M exceeded revenue, resulting in a 39% operating deficit.

Mission

TO PROVIDE OPTIMAL HEALTHCARE TO THE PATIENTS OF SOUTH CENTRAL MASSACHUSETTS AND NORTHEASTERN CONNECTICUT. HARRINGTON PHYSICIAN SERVICES IS COMMITTED TO TOTAL LOCAL CARE WHICH IT PROVIDES THROUGH PHYSICIAN OFFICES LOCATED IN COMMUNITIES THROUGHOUT THE HARRINGTON HOSPITAL SERVICE AREA.

Program Service Accomplishments

Program 1

Expenses: $29,692,603 Revenue: $23,023,368

HPS SERVES THE CHARITABLE PURPOSES OF HARRINGTON MEMORIAL HOSPITAL BY PROVIDING PHYSICIANS WHO ARE NEEDED TO SERVICE THE HOSPITAL'S COMMUNITY.

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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 (2020)

Revenue Breakdown

Contributions & Grants $1,081,687

Program Service Revenue $22,693,887

Investment Income $-17,274

Other Revenue $329,481

TOTAL REVENUE $24,087,781

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,206,138

Fundraising Expenses $0

Program Expenses $29,692,603

Other Expenses $7,156,337

TOTAL EXPENSES $33,362,475

Year-over-Year Comparison

	2020	2019	Change
Revenue	$24,087,781	$22,803,717	+0.1%
Expenses	$33,362,475	$34,558,378	0.0%
Net Income	$-9,274,694	$-11,754,661	-0.2%

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

337

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

$1,589,995

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Edward Moore	President/CEO	1.0	Officer	$0	$56,437	$1,104,617
Paul Santolucito MD	Physician	40.0	Highest	$741,985	$8,407	$750,392
Young-Ho Oh MD	Physician	40.0	Highest	$682,892	$29,131	$712,023
Samantha Chase MD	Physician	40.0	Highest	$536,404	$17,575	$553,979
Russell Donnelly MD	Physician	40.0	Highest	$529,627	$23,473	$553,100
FRANCIS POWERS	Physician	40.0	Highest	$476,784	$8,716	$485,500
Thomas Sullivan	Vice Pres. Fiscal Services	1.0	Officer	$0	$48,104	$485,378
Arthur Russo MD	Director	1.0	Director	$0	$0	$0
Randall V Becker	Director	1.0	Director	$0	$0	$0
Anthony Jay Detarando	Past Chair	1.0	Director	$0	$0	$0
Anthony M Detarando	Director	1.0	Director	$0	$0	$0
Mark Palmerino	Director	1.0	Director	$0	$0	$0
James Waddick	Chair	1.0	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
2021	$24,087,781	$33,362,475	$5,550,764	$-9,274,694
2020	$22,803,717	$34,558,378	$4,099,693	$-11,754,661
2019	$25,582,971	$36,500,755	$5,772,425	$-10,917,784
2019	$25,582,971	$36,500,755	$5,772,425	$-10,917,784
2018	$24,735,651	$36,840,692	$5,433,350	$-12,105,041