HEALTHCARE OPTIONS 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

1984

Legal Domicile

Principal Officer

Reynold G Spadoni

Phone

5082220118

Tax Period

2020-01-01 to 2020-12-31

HEALTHCARE OPTIONS INC, founded in 1984, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2020. Revenue fell 23% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.3M, a strong 33% operating margin.

Mission

To provide services and resources that enhance the community's capacity to achieve optimal health and quality of life.

Program Service Accomplishments

Program 1

Expenses: $219,094 Revenue: $203,329

Code: 621610: Private Home Care Services: The Company provides a wide arrray of in home medical and non-medical services to assist individuals in achieving independent living. Services generally...

Code: 621610: Private Home Care Services: The Company provides a wide arrray of in home medical and non-medical services to assist individuals in achieving independent living. Services generally include homemaker and companion services, as well as, skilled nursing and rehab therapy. 123 Clients were served in 2020. Published rates charged are established to cover the costs of providing these services. The Private Care services were terminated on April 17, 2020. Clients were effectively transferred to another provider of these services.

Program 2

Expenses: $1,354,163 Revenue: $1,330,306

Code 621400: Adult Day Health Centers: The company operated three adult day health facilities. Each facility provided care to frail elders, adults with disabilities and seniors who have memory...

Code 621400: Adult Day Health Centers: The company operated three adult day health facilities. Each facility provided care to frail elders, adults with disabilities and seniors who have memory deficits. In 2020, the company offered transportation, meal service, medication management and recreational activities to 250 clients in three locations. State mandated closure of these services on March 25, 2020 reduces our ability to provide services. This service line was sold to another provider of these services effective December 31, 2020.

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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 $2,352,223

Program Service Revenue $1,533,635

Investment Income $38

Other Revenue $0

TOTAL REVENUE $3,885,896

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,027,225

Fundraising Expenses $0

Program Expenses $1,583,759

Other Expenses $1,580,721

TOTAL EXPENSES $2,607,946

Year-over-Year Comparison

	2020	2019	Change
Revenue	$3,885,896	$5,032,440	-0.2%
Expenses	$2,607,946	$5,504,974	-0.5%
Net Income	$1,277,950	$-472,534	-3.7%

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

111

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

$400,291

Total Directors

$574,906

Key Employees

$122,384

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Reynold G Spadoni	CEO	4	Officer	$0	$13,832	$400,291
Dawn Sullivan	COO	2.75	Director	$0	$13,026	$208,091
Russell T Dubuc	CFO	1.5	Director	$0	$8,294	$189,895
Marlene Roberti	Director Business Development	1.25	Director	$0	$13,026	$176,920
Julie Feierstein	Physical Therapist	0	Highest	$0	$19,787	$126,948
Eileen Leduc	Nurse Manager	0	Highest	$0	$8,294	$126,283
Gail Robey	Registered Nurse	0	Highest	$0	$8,294	$123,544
Cathie Miller	Occupational Therapist	0	Highest	$0	$19,787	$123,439
Mary Westphal	Registered Nurse	0	Highest	$0	$8,294	$123,036
Deborah Zapasnik	Director Human Resources	2.5	Key Emp	$0	$13,026	$122,384
Frederick Woll OD	President	0.25	Director	$0	$0	$0
Carie Ann Bailey	Vice-President	0.25	Director	$0	$0	$0
Gerard Lavoie	Treasurer	0.25	Director	$0	$0	$0
Carolyn Blake Dibbert	Clerk	0.25	Director	$0	$0	$0
Jeffrey Bradley	Member	0.25	Director	$0	$0	$0
Susan Girard Dolan	Member	0.25	Director	$0	$0	$0
Geoffrey Gallant	Member	0.25	Director	$0	$0	$0
Paul Lenahan	Member	0.25	Director	$0	$0	$0
Michael Murphy	Member	0.25	Director	$0	$0	$0
Lisa Piscatelli	Member	0.25	Director	$0	$0	$0
Michael Poissant	Member	0.25	Director	$0	$0	$0
Elise M Servant	Member	0.25	Director	$0	$0	$0
Suzanne Vargas	Member	0.25	Director	$0	$0	$0
Maureen Wilkinson	Member	0.25	Director	$0	$0	$0
Mark Young MD	Member	0.25	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
2020	$3,885,896	$2,607,946	No data	$1,277,950