MILFORD HEALTH & MEDICAL 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

1987

Legal Domicile

Principal Officer

LAURA SMITH

Phone

2036154956

Tax Period

2023-10-01 to 2024-05-24

MILFORD HEALTH & MEDICAL INC, founded in 1987, is a small nonprofit that reported $103K in total revenue in fiscal year 2023.

Mission

TO EFFECTIVELY AND EFFICIENTLY PROVIDE HIGH QUALITY HEALTHCARE SERVICES.

Program Service Accomplishments

Program 1

EFFECTIVE JUNE 9, 2019, THE HOSPITAL SOLD SUBSTANTIALLY ALL ASSETS AND TRANSFERRED CERTAIN LIABILITIES USED IN OR INCIDENTAL TO THE CONDUCT OF THE BUSINESS TO YALE-NEW HAVEN HEALTH SERVICES...

EFFECTIVE JUNE 9, 2019, THE HOSPITAL SOLD SUBSTANTIALLY ALL ASSETS AND TRANSFERRED CERTAIN LIABILITIES USED IN OR INCIDENTAL TO THE CONDUCT OF THE BUSINESS TO YALE-NEW HAVEN HEALTH SERVICES CORPORATION AND BRIDGEPORT HOSPITAL ("THE BUYER"), AND THIS REPORTING ENTITY WILL NO LONGER OPERATE. THE OPERATIONS OF THIS REPORTING ENTITY, HOWEVER, WILL CONTINUE UNDER THE CONTROL OF THE BUYER, WHICH IS UNRELATED TO THE COMPANY.THE ORGANIZATION OFFICIALLY DISSOLVED IN 2024, PAYING DISSOLUTION COSTS AND TRANSFERRING CASH TO BRIDGEPORT HOSPITAL.

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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 $0

Program Service Revenue $0

Investment Income $120

Other Revenue $102,428

TOTAL REVENUE $102,548

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,011

Fundraising Expenses $0

Other Expenses $87,537

TOTAL EXPENSES $102,548

Year-over-Year Comparison

	2023	2022	Change
Revenue	$102,548	N/A	N/A
Expenses	$102,548	$42,399	+1.4%
Net Income	$0	$-42,399	-1.0%

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

$15,011

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SAMUEL S BERGAMI JR	CHAIR	0.50	Officer Director	$0	$0	$0
NANCY BENNETT	DIRECTOR	0.50	Director	$0	$0	$0
STEPHEN COWHERD	DIRECTOR	0.50	Director	$0	$0	$0
MARK TONEY	PRESIDENT/CEO/CRO	0.50	Officer	$0	$0	$0
LAURA SMITH	CFO/VP FINANCE	0.50	Officer	$15,011	$0	$15,011

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	$102,548	$102,548	No data	No data
2023	No data	$42,399	$2,656,688	No data
2022	$37	$82,458	$2,699,087	$-82,421
2021	$1,396	$91,129	$2,781,507	$-89,733
2020	$3	$831,046	$2,871,241	$-831,043
2019	$2,073,376	$468,834	$10,930,162	$1,604,542
2018	$1,549,216	$2,555,410	$12,342,055	$-1,006,194