NOVA INSTITUTE FOR HEALTH 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

2004

Legal Domicile

Principal Officer

SUSAN BERMAN

Phone

4436817609

Tax Period

2023-01-01 to 2023-12-31

NOVA INSTITUTE FOR HEALTH INC, founded in 2004, is a community nonprofit in the Health Care sector that reported $2.5M in total revenue in fiscal year 2023. Revenue surged 171% from the prior year, signaling strong growth momentum. Expenses of $2.9M exceeded revenue, resulting in a 17% operating deficit.

Program Service Accomplishments

Program 1

Expenses: $899,420 Revenue: $0

DEMONSTRATION PROJECTS: PART OF OUR WORK IS TO EXPLORE, DEVELOP, AND TEST NEW MODELS AND APPROACHES FOR HEALTH AND HEALING. THESE INCLUDE SCALABLE, REPLICABLE DEMONSTRATION PROJECTS THAT ARE BASED ON RIGOROUS RESEARCH AND HAVE REAL-LIFE IMPACT. THEY HAVE INCLUDED HELPING YOUTH IN VULNERABLE COMMUNITIES LEARN ABOUT WELLNESS AND NUTRITION, DEVELOPING CULINARY MEDICINE CURRICULUM FOR MEDICAL STUDENTS, HELPING VETERANS AND HOSPITALIZED MILITARY SUFFERING FROM TRAUMA, AND RE-ENVISIONING PRIMARY CARE TO MAXIMIZE ITS CAPACITY TO RECOGNIZE AND ADDRESS THE MYRIAD FACTORS THAT INFLUENCE A PERSONS HEALTH.

Program 2

Expenses: $287,516 Revenue: $0

CONVENE FORUMS/TRAIN PROFESSIONALS: THE INSTITUTE CONVENES FORUMS TO FACILITATE THE EXCHANGE OF IDEAS, CONNECT THE DOTS ACROSS DISCIPLINES, ADVANCE SCIENCE, AND INSPIRE CREATIVITY AND IMAGINATION...

CONVENE FORUMS/TRAIN PROFESSIONALS: THE INSTITUTE CONVENES FORUMS TO FACILITATE THE EXCHANGE OF IDEAS, CONNECT THE DOTS ACROSS DISCIPLINES, ADVANCE SCIENCE, AND INSPIRE CREATIVITY AND IMAGINATION. FORUMS BRING TOGETHER ECLECTIC GROUPS THAT MAY INCLUDE SCIENTISTS, CONVENTIONAL AND INTEGRATIVE PRACTIONERS, COMMUNITY LEADERS, FUNDERS, ADVOCATES, AND POLICYMAKERS TO ENGAGE IN OPEN DIALOGUE, SHARING OF EXPERTISE, PROBLEMS FACED, AND SOLUTIONS SOUGHT. THE INSTITUTES TRAINING PROGRAMS ENABLE HEALTH PROFESSIONALS TO GAIN CAREER ENHANCING SKILLS AND KNOWLEDGE THAT ADVANCE AN INTEGRATIVE APPROACH TO HEALTH AND WELL-BEING.

Program 3

Expenses: $938,821 Revenue: $0

SCHOLARS/FELLOWS PROGRAM: THE INSTITUTE SUPPORTS A NETWORK OF SCHOLARS AND FELLOWS THAT WORKS ACROSS DISCIPLINES TO INVESTIGATE CRITICAL QUESTIONS, SPARK FRESH THINKING AND NEW IDEAS, AND DISCOVER...

SCHOLARS/FELLOWS PROGRAM: THE INSTITUTE SUPPORTS A NETWORK OF SCHOLARS AND FELLOWS THAT WORKS ACROSS DISCIPLINES TO INVESTIGATE CRITICAL QUESTIONS, SPARK FRESH THINKING AND NEW IDEAS, AND DISCOVER CUTTING-EDGE SOLUTIONS. THE INSTITUTE PROVIDES SUPPORT FOR RESEARCH AND PROJECTS UNLIKELY TO ATTRACT FUNDING FROM CONVENTIONAL SOURCES, AND PROVIDES FREEDOM AND RESOURCES TO TAKE THEIR WORK IN NEW, PIONEERING DIRECTIONS RELATED TO HEALTH AND WELL-BEING. THE INSTITUTE ALSO MENTORS AND SUPPORTS TALENTED YOUNG INNOVATORS WHO HAVE THE COURAGE TO PURSUE UNCHARTED COURSES.

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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 $2,273,786

Program Service Revenue $1,690

Investment Income $179,088

Other Revenue $0

TOTAL REVENUE $2,454,564

Expense Breakdown

Grants Paid $650,458

Salaries & Benefits $1,658,649

Fundraising Expenses $217,778

Program Expenses $2,378,165

Other Expenses $556,864

TOTAL EXPENSES $2,865,971

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,454,564	$906,218	+1.7%
Expenses	$2,865,971	$2,613,082	+0.1%
Net Income	$-411,407	$-1,706,864	-0.8%

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

$921,336

Total Directors

$921,336

Key Employees

$1,162,379

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN M BERMAN MD	PRESIDENT/CHAIRMAN	32.00	Officer Director Key Emp Highest	$578,299	$75,960	$654,259
SUSAN H BERMAN	EXEC DIR/SECY/TREAS	40.00	Officer Director Key Emp Highest	$213,684	$53,393	$267,077
KENNETH PELLETIER	DIRECTOR	2.00	Director	$0	$0	$0
DONALD W PHILLIPS	DIRECTOR	2.00	Director	$0	$0	$0
PETE SUCCOSO	DIRECTOR	2.00	Director	$0	$0	$0
RICK SCOTT	CHIEF OPERATING OFFICER	40.00	Key Emp Highest	$207,532	$33,511	$241,043
DAWN STOLTZFUS	DIRECTOR OF STRATEGIC COMMUNICATIONS	40.00	Highest	$158,015	$22,182	$180,197
MARK WILLIAMS	ACCTG & FINANCE MGR	40.00	Highest	$133,322	$13,580	$146,902

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	$2,454,564	$2,865,971	$12,063,417	$-411,407
2022	$906,218	$2,613,082	$12,133,068	$-1,706,864
2021	$1,261,244	$2,848,146	$14,478,709	$-1,586,902
2020	$753,214	$2,797,442	$15,630,828	$-2,044,228