SOUTHCOAST PHYSICIANS GROUP INC (EIN 222703314) - 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

1986

Legal Domicile

Principal Officer

DAVID MCCREADY

Phone

5089732905

Tax Period

2023-10-01 to 2024-09-30

SOUTHCOAST PHYSICIANS GROUP INC, founded in 1986, is a major nonprofit in the Health Care sector that reported $308.5M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $381.8M exceeded revenue, resulting in a 24% operating deficit.

Mission

SPG MADE PERFORMANCE PAYMENTS TO ONE TRUSTEE, FOR THEIR ROLE AS A PHYSICIAN, THAT INCLUDED TAX GROSS-UPS. TOTAL PAYMENTS WERE $203.

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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 $680,961

Program Service Revenue $307,753,685

Investment Income $1,435

Other Revenue $99,895

TOTAL REVENUE $308,535,976

Expense Breakdown

Grants Paid $0

Salaries & Benefits $318,839,519

Fundraising Expenses $0

Program Expenses $360,347,304

Other Expenses $62,977,429

TOTAL EXPENSES $381,816,948

Year-over-Year Comparison

	2023	2022	Change
Revenue	$308,535,976	$277,401,775	+0.1%
Expenses	$381,816,948	$350,848,587	+0.1%
Net Income	$-73,280,972	$-73,446,812	0.0%

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

2093

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

$4,486,853

Total Directors

$5,235,491

Key Employees

$2,642,035

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYFORD KRUGER MD	PRESIDENT & EX-OFFICIO (UNTIL 1/3/24)	14.50	Officer Director	$0	$310,295	$1,611,294
EDRESS OTHMAN MD	TRUSTEE & PHYSICIAN	41.50	Director	$1,119,364	$42,434	$1,161,798
DENNIS LAROCK MD	TRUSTEE & PHYSICIAN	41.50	Director	$911,300	$41,285	$952,585
JEFFREY LAWRENCE MD	TRUSTEE (UNTIL 4/30/24) & PHYSICIAN	36.00	Director	$786,359	$132,042	$918,401
DAVID MCCREADY	EX-OFFICIO, PRES & CEO (FROM 1/24)	7.50	Officer Director	$0	$51,283	$368,772
AARON NOVY	TRUSTEE & PHYSICIAN	41.50	Director	$181,218	$37,565	$218,783
SALMAN BASHIR MD	TRUSTEE	1.50	Director	$0	$0	$3,858
DONALD G GIUMETTI	VICE CHAIR	2.50	Officer Director	$0	$0	$0
JASON RUA	CHAIR	2.50	Officer Director	$0	$0	$0
CARMEN F SYLVESTER	TRUSTEE	1.50	Director	$0	$0	$0
CHRISTOPHER HODGSON	TRUSTEE	1.50	Director	$0	$0	$0
DENNIS FUSCO	TRUSTEE	1.50	Director	$0	$0	$0
ELIZABETH HUIDEKOPER	TRUSTEE	1.50	Director	$0	$0	$0
LOUIS CABRAL	TRUSTEE	1.50	Director	$0	$0	$0
RENEE CLARK	CLERK/ EVP & COO SHG	32.50	Officer	$0	$191,393	$1,312,578
WADE BROUGHMAN	TREASURER/ EVP FIN & CFO SHG	14.50	Officer	$0	$39,095	$1,194,209
DANI HACKNER	SVP CCO SHG, PHYS IN CHIEF MED	18.00	Key Emp	$893,343	$170,009	$1,063,352
LINDA HEVENOR	VP CLINICAL OPERATIONS	60.00	Key Emp	$0	$42,766	$351,836
COURTNEY IVES	VP CARE CENTER OPERATIONS	30.00	Key Emp	$0	$20,748	$339,099
PETER COHN	CHIEF CARDIOVASCULAR CARE CENTER	60.00	Key Emp	$849,280	$38,468	$887,748
RICHARD PIN	PHYSICIAN	40.00	Highest	$1,148,915	$44,825	$1,193,740
MICHAEL LANGWORTHY	PHYSICIAN	40.00	Highest	$1,148,860	$37,156	$1,186,016
MATTHEW PHILLIPS	PHYSICIAN	40.00	Highest	$1,152,601	$30,918	$1,183,519
PATRICK GAGNON	PHYSICIAN	40.00	Highest	$1,081,994	$42,323	$1,124,317
IRAKLIS GEORGIANNIS	PHYSICIAN	40.00	Highest	$1,072,965	$21,063	$1,094,028
KEITH HOVAN	FORMER PRESIDENT	0.00		$0	$0	$1,615,731

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	$308,535,976	$381,816,948	$163,040,939	$-73,280,972
2023	$277,401,775	$350,848,587	$152,437,551	$-73,446,812
2022	$263,776,064	$331,147,797	$115,083,218	$-67,371,733
2021	$225,877,511	$303,861,013	$120,479,326	$-77,983,502
2020	$200,490,793	$268,464,870	$122,384,773	$-67,974,077
2019	$207,370,917	$266,989,539	$83,464,560	$-59,618,622
2018	$198,790,373	$258,029,459	$81,840,505	$-59,239,086

SOUTHCOAST PHYSICIANS GROUP INC