CVPH FOUNDATION 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

1989

Legal Domicile

Principal Officer

MATEJ KOLLAR

Phone

5185612000

Tax Period

2023-10-01 to 2024-09-30

CVPH FOUNDATION INC, founded in 1989, is a community nonprofit in the Health Care sector that reported $1.2M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $1.5M exceeded revenue, resulting in a 29% operating deficit.

Mission

THE GENEROSITY OF OUR CARING COMMUNITY ENABLES US TO ADVANCE INITIATIVES THAT ARE IMPORTANT TO THE HEALTH OF THE NORTH COUNTRY.

Program Service Accomplishments

Program 1

Expenses: $1,410,492

CVPH MEDICAL CENTER FOUNDATION (THE FOUNDATION) PROVIDES FINANCIAL SUPPORT TO CVPH MEDICAL CENTER TO MEET THE HEALTHCARE NEEDS OF THE COMMUNITY. THIS SUPPORT INCLUDES REIMBURSEMENT OF THE HOSPITAL'S COST FOR THE PURCHASE OF NEW DIAGNOSTIC EQUIPMENT, PROVIDE FUNDING FOR HEALTHCARE SERVICES FOR CHILDREN, COORDINATE SUPPORT GROUPS FOR PATIENTS LIVING WITH ILLNESS, PROVIDE CHARITY CARE FOR THOSE IN NEED, AND COORDINATE PROGRAMS THAT PROMOTE HEALTH AND WELLNESS. IN ADDITION, THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO 224 FAMILIES MEETING THEIR TRAVEL EXPENSES INCURRED WHILE OBTAINING SPECIALIZED HEALTHCARE COVERED TRAVEL EXPENSES TO INCLUDE FUEL, FERRY TICKETS, FLIGHT COSTS, LODGING, AND FOOD.

Program 2

Expenses: $3,376

SUPPORT SERVICES RELATED TO TREATMENT AND CARE FOR PATIENTS UNDERGOING BREAST CANCER TREATMENT.

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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 $960,560

Program Service Revenue $0

Investment Income $213,298

Other Revenue $29,546

TOTAL REVENUE $1,203,404

Expense Breakdown

Grants Paid $95,968

Salaries & Benefits $212,591

Fundraising Expenses $0

Program Expenses $1,413,868

Other Expenses $1,240,152

TOTAL EXPENSES $1,548,711

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,203,404	$977,339	+0.2%
Expenses	$1,548,711	$1,549,456	0.0%
Net Income	$-345,307	$-572,117	-0.4%

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

N/A

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

$1,313,682

Total Directors

$403,310

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE HUTTIG	PRESIDENT	1.00	Officer Director	$0	$0	$0
JULIE KRAMER	TREASURER	1.00	Officer Director	$0	$0	$0
PAIGE BOUYEA-RAVILLE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RYAN BENNETT	BOARD MEMBER	1.00	Director	$0	$0	$0
JUSTIN MEYER	BOARD MEMBER	1.00	Director	$0	$0	$0
ELIZABETH MURRAY	BOARD MEMBER	1.00	Director	$0	$0	$0
DANIELLE KING	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL MCMAHON MD	BOARD MEMBER	1.00	Director	$0	$35,684	$403,310
TAMAR WEERTS	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS AKEY	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD MCCARTHY	BOARD MEMBER	1.00	Director	$0	$0	$0
TED SILL	SECRETARY	1.00	Officer Director	$0	$0	$0
KRISTA JOCK BOULE	BOARD MEMBER	1.00	Director	$0	$0	$0
JODY CARPENTER	BOARD MEMBER	1.00	Director	$0	$0	$0
ADAM CROSLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JUDY GUGLIELMO	BOARD MEMBER	1.00	Director	$0	$0	$0
PAT LEARY	BOARD MEMBER	1.00	Director	$0	$0	$0
VICKI MARKING	BOARD MEMBER	1.00	Director	$0	$0	$0
ANGELA POWELL MD	BOARD MEMBER	1.00	Director	$0	$0	$0
KERRY HALEY	ASSOCIATE VP OF PHILANTHRO	50.00	Officer	$168,605	$43,986	$212,591
MICHELLE LEBEAU	PRESIDENT & COO	2.00	Officer	$0	$113,166	$723,849
MATEJ KOLLAR	VP/CFO	2.00	Officer	$0	$53,305	$377,242
CHRISTOPHER HICKEY	FORMER SVP/CFO	0.00		$0	$36,772	$249,128

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	$1,203,404	$1,548,711	$10,817,311	$-345,307
2023	$977,339	$1,549,456	$9,024,419	$-572,117
2022	$2,203,111	$700,631	$8,335,130	$1,502,480
2021	$1,174,012	$1,660,226	$9,124,012	$-486,214
2020	$1,191,968	$1,187,353	$7,563,598	$4,615
2019	$1,279,717	$1,227,519	$6,869,257	$52,198
2018	$1,124,264	$1,211,967	$6,640,312	$-87,703