BREAKWATER HEALTH NETWORK (EIN 201686489) - 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

2004

Legal Domicile

Phone

2187221186

Tax Period

2024-05-01 to 2025-04-30

BREAKWATER HEALTH NETWORK, founded in 2004, is a small nonprofit that reported $527K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $676K exceeded revenue, resulting in a 28% operating deficit.

Mission

The Mission of Breakwater Health Network is to support its members by developing and sustaining systems that foster clinical excellence and healthy communities.

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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 (2024)

Revenue Breakdown

Contributions & Grants $387,091

Program Service Revenue $140,028

Investment Income $12

Other Revenue $0

TOTAL REVENUE $527,131

Expense Breakdown

Grants Paid $0

Salaries & Benefits $368,632

Fundraising Expenses $0

Program Expenses $576,811

Other Expenses $307,418

TOTAL EXPENSES $676,050

Year-over-Year Comparison

	2024	2023	Change
Revenue	$527,131	$420,750	+0.3%
Expenses	$676,050	$630,881	+0.1%
Net Income	$-148,919	$-210,131	-0.3%

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

$293,625

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOE HOLMSETH	EXECUTIVE DR	40.00	Officer	$143,659	$10,611	$154,270
SALLY TRNKA	FMR ED	40.00	Officer	$130,966	$8,389	$139,355
LEE HOMAN	Director	8.00	Director	$0	$0	$0
KEITH HARVEY	Treasurer	8.00	Officer Director	$0	$0	$0
KATE SURBAUGH	President	8.00	Officer Director	$0	$0	$0
RHONDA EASTLUND	VICE PRESIDENT	8.00	Officer 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
2025	$527,131	$676,050	$415,753	$-148,919
2024	$420,750	$630,881	$552,447	$-210,131
2023	$694,359	$606,964	$659,970	$87,395
2023	$694,359	$601,718	$659,971	$92,641
2022	$1,971,597	$2,005,228	$640,816	$-33,631
2021	$544,760	$547,376	$641,390	$-2,616
2021	$1,269,737	$1,272,353	$641,390	$-2,616
2020	$1,269,610	$1,396,544	$657,392	$-126,934
2019	$1,089,813	$933,253	$729,867	$156,560

BREAKWATER HEALTH NETWORK