LEGACY ECHN INC (EIN 222546079) - 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

1995

Legal Domicile

Principal Officer

ROBERT A SCHWARTZ MD

Phone

8606461222

Tax Period

2021-10-01 to 2022-09-30

LEGACY ECHN INC, founded in 1995, is a small nonprofit in the Health Care sector that reported $128K in total revenue in fiscal year 2021. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $683K exceeded revenue, resulting in a 436% operating deficit.

Mission

TO BENEFIT, PERFORM THE FUNCTIONS OF, CARRY OUT THE PURPOSES OF, AND UPHOLD, PROMOTE AND FURTHER THE WELFARE, MISSION AND ACTIVITIES OF THE CHARITABLE HOSPITAL CORPORATIONS FORMERLY KNOWN AS THE MANCHESTER MEMORIAL HOSPITAL, OF MANCHESTER, CONNECTICUT AND THE ROCKVILLE GENERAL HOSPITAL, INCORPORATED, OF VERNON, CONNECTICUT (THE "HOSPITAL CORPORATIONS"): (I) BY FURTHERING, EFFECTING, AND CARRYING OUT THE HOSPITAL CORPORATIONS' GOALS, OBLIGATIONS, AND FUNCTIONS TO BENEFIT THE HOSPITAL CORPORATIONS AND THE INTERESTS OF THE COMMUNITIES THEY SERVED; AND (II) BY RECEIVING, COLLECTING, PRESERVING, MANAGING, APPLYING AND DISPOSING OF ASSETS AND CHARITABLE FUNDS FOR THE EXCLUSIVELY CHARITABLE PURPOSES OF THE CORPORATION AND BENEFITING THE TRADITIONAL MISSIONS OF THE HOSPITAL CORPORATIONS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $127,595

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $127,595

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,870

Other Expenses $683,298

TOTAL EXPENSES $683,298

Year-over-Year Comparison

	2021	2020	Change
Revenue	$127,595	$389,218	-0.7%
Expenses	$683,298	$1,371,311	-0.5%
Net Income	$-555,703	$-982,093	-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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT A SCHWARTZ MD	PRESIDENT	1.00	Officer Director	$0	$0	$0
THOMAS F SCANLON	TREASURER	1.00	Officer Director	$0	$0	$0
MICHELE R BLEZARD	SECRETARY	1.00	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
2022	$127,595	$683,298	$14,844,292	$-555,703
2021	$389,218	$1,371,311	$16,355,867	$-982,093
2020	$357,484	$636,933	$16,693,426	$-279,449
2019	$810,747	$561,417	$16,897,081	$249,330
2018	$9,137,815	$1,219,337	$16,870,666	$7,918,478

LEGACY ECHN INC