Herkimer, NY
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)VALLEY HEALTH DEVELOPMENT CORPORATION, founded in 1984, is a micro nonprofit in the Health Care sector that reported $10K in total revenue in fiscal year 2022. Revenue fell 82% from the prior year — a significant decline worth monitoring. Expenses of $74K exceeded revenue, resulting in a 631% operating deficit.
Per the Certificate of Incorporation of Valley Health Development Corp. the purpose for which the Corporation is formed and the objects to be carried on and promoted by it are to be purely public and charitable within the meaning of §501(c) (3) of the Internal Revenue Code of 1954, as amended, with the ultimate aim of promoting improvement and well-being of man. Its purposes include: (a) "to relieve a shortage of decent, safe and sanitary health facilities and services in Herkimer, New York, acting on behalf of the Village of Herkimer, New York and to promote and advance decent, safe and sanitary health facilities and services for said persons by, among other things, financing therein a residential health care facility and such ancillary services as are defined in and regulated by Article 28 of the Public Health Law." (b) "to receive and administer funds in order to finance the acquisition, construction (or rehabilitation) and the equipage of health facilities for the Village and
Valley Health Development Corp. was created for the sole purpose of providing financing for Valley Health Services, Inc., a not-for-profit Residential Health Care Facility, in Herkimer, New York. In...
Valley Health Development Corp. was created for the sole purpose of providing financing for Valley Health Services, Inc., a not-for-profit Residential Health Care Facility, in Herkimer, New York. In April 1985, Valley Health Development Corp. issued $7,395,000 Series 1985 Mortgage Revenue Bonds for the renovation and construction of Valley Health Services, Inc., the successor organization to Herkimer Memorial Hospital. In December 1990, Valley Health Development Corp. issued $2,675,000 Series 1990 A and $100,000 Series 1990 B Mortgage Revenue Bonds to finance Valley Health Services' expansion project which included the addition of 32 beds and an Adult Day Health Care Program. Today, Valley Health Services, Inc. is a 160 bed facility offering skilled nursing long term care, short term inpatient rehabilitation and subacute care, Palliative Care, outpatient rehabilitation and medical model Adult Day Health Care services to the residents of Herkimer and the surrounding communities. A majority of Valley Health Services' revenue is provided by Medicaid funding. Annually, Valley Health Development Corp. administers the bond payments through the Bank of New York Mellon. The income generated each year by Valley Health Development Corp. investments is utilized to pay out semi annual interest to bond holders, periodic trustee and maintenance fees.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2022 | 2021 | Change | |
|---|---|---|---|
| Revenue | $10,060 | $56,297 | -0.8% |
| Expenses | $73,539 | $77,340 | 0.0% |
| Net Income | $-63,479 | $-21,043 | +2.0% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Lisa Betrus | President | 0 |
Officer
Director
|
$0 | $19,771 | $406,674 |
| John Militello | Secretary | 0 |
Officer
Director
|
$0 | $0 | $0 |
| Anna Lyga | Treasurer | 0 |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2022 | $10,060 | $73,539 | No data | $-63,479 |
| 2021 | $56,297 | $77,340 | $403,479 | $-21,043 |
| 2020 | $101,467 | $118,408 | $1,144,522 | $-16,941 |
Compare VALLEY HEALTH DEVELOPMENT CORPORATION with other nonprofits in New York and across the country.