ATLANTICARE HEALTH SYSTEM INC (EIN 223265213) - 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

1993

Legal Domicile

Principal Officer

Michael J Charlton

Phone

6095697031

Tax Period

2024-01-01 to 2024-12-31

ATLANTICARE HEALTH SYSTEM INC, founded in 1993, is a mid-sized nonprofit in the Health Care sector that reported $100.0M in total revenue in fiscal year 2024.

Mission

THE ORGANIZATION IS THE TAX-EXEMPT PARENT ENTITY OF ATLANTICARE HEALTH SYSTEM & AFFILIATES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM WHICH INCLUDES ARMC.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $99,308,508

Investment Income $677,177

Other Revenue $0

TOTAL REVENUE $99,985,685

Expense Breakdown

Grants Paid $10,140

Salaries & Benefits $47,023,425

Fundraising Expenses $0

Program Expenses $89,378,674

Other Expenses $52,274,944

TOTAL EXPENSES $99,308,509

Year-over-Year Comparison

	2024	2023	Change
Revenue	$99,985,685	$101,200,230	0.0%
Expenses	$99,308,509	$100,765,765	0.0%
Net Income	$677,176	$434,465	+0.6%

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

454

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

$10,178,448

Total Directors

$2,233,516

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORI S HERNDON	FORMER OFFICER (TERM 5/2023)	0.0		$2,316,735	$4,468	$2,321,203
MICHAEL J CHARLTON	TRUSTEE - PRESIDENT/CEO	55.0	Officer Director	$1,326,182	$250,709	$1,576,891
CHRISTOPHER A SCANZERA	SVP,CHF.DIG.&TECH (Term 5/24)	55.0	Officer	$1,369,051	$35,490	$1,404,541
HAK J KIM	EVP & CFO/PRES AHN	55.0	Officer	$1,050,400	$94,026	$1,144,426
DONNA MICHAEL-ZIEREIS ESQ	EVP ADMIN/CLO/COS & SECRETARY	55.0	Officer	$777,720	$105,926	$883,646
DEBRA A FOX	SVP CHIEF TRANSFORMATION OFF.	55.0	Officer	$688,163	$65,297	$753,460
FRANK R CARPENTER	SVP CHF. INT. OFF. (TERM 7/24)	55.0	Officer	$0	$16,812	$692,589
DENNIS LENNON	VP & CHIEF PEOPLE OFFICER	55.0	Officer	$560,706	$115,184	$675,890
HELENE M BURNS DNP RN	CHIEF NURSE EXECUTIVE	55.0	Officer	$0	$100,167	$664,501
LARISA K GOGANZER	SVP & CHF. HOS. EX.(TERM 2/24)	55.0	Officer	$0	$8,104	$664,007
MARILOUISE VENDITTI MD	FORMER OFFICER	0.0		$633,757	$57	$633,814
JAVID IQBAL MD	TRUSTEE; EX-OFFICIO	55.0	Director	$0	$49,874	$552,404
ROBIN M WYATT	CHIEF MARKETING OFFICER	55.0	Officer	$443,165	$81,989	$525,154
JILL R OKEEFFE	VP & GENERAL COUNSEL	55.0	Highest	$432,732	$63,578	$496,310
KATHERINE BIRKENSTOCK	FORMER OFFICER	0.0		$0	$4,572	$467,841
JORDAN D RUCH	CHIEF INFO. Off. (eff 6/24)	55.0	Officer	$358,294	$98,463	$456,757
CHRISTOPHER P TASCIONE	VP FINANCE & CORP CONTROLLER	55.0	Highest	$384,627	$57,654	$442,281
BARBARA YOUNG	VP & CHIEF SUPPLY CHAIN OFF.	55.0	Officer	$0	$57,226	$411,022
MATTHEW B LEVINSON	VP, EXT AFFAIRS & DEVELOPMENT	55.0	Highest	$313,406	$49,017	$362,423
KEVIN MCDONNELL	CHIEF HOSPITAL EXEC.(eff 8/24)	55.0	Officer	$222,826	$102,738	$325,564
MARY A ROSEN	AVP, ENTERPRISE APPLICATIONS	55.0	Highest	$284,615	$10,660	$295,275
PAUL EHRLICH	CHIEF MED INFO OFF (TERM 1/24)	55.0	Highest	$232,931	$4,279	$237,210
PRIYESH T THAKKAR DO	TRUSTEE	20.0	Director	$0	$0	$60,000
JENNIFER TIOSECO MD	TRUSTEE; EX-OFFICIO	20.0	Director	$0	$0	$40,013
J MARK WAXMAN ESQ	TRUSTEE	2.0	Director	$0	$0	$4,208
DAVID M GODDARD	CHAIRMAN - TRUSTEE	1.0	Officer Director	$0	$0	$0
MARGARET S SYKES RN	SECRETARY - TRUSTEE	1.0	Officer Director	$0	$0	$0
MICHAEL WALSH	TREASURER - TRUSTEE	1.0	Officer Director	$0	$0	$0
PACIFICO AGNELLINI ESQ	TRUSTEE	1.0	Director	$0	$0	$0
MANUEL E APONTE	TRUSTEE	1.0	Director	$0	$0	$0
EUGENE M ARNONE	TRUSTEE	1.0	Director	$0	$0	$0
ROBYN BEGLEY DNP RN	TRUSTEE	1.0	Director	$0	$0	$0
ROSALIND E KINCAID	TRUSTEE	1.0	Director	$0	$0	$0
BRETT MATIK	TRUSTEE	1.0	Director	$0	$0	$0
GINA MERRRITT-EPPS ESQ	TRUSTEE	1.0	Director	$0	$0	$0
MARISSA TRAVALINE	TRUSTEE	1.0	Director	$0	$0	$0
KENNETH R STEINBERG PE	TRUSTEE (TERMED)	1.0	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
2024	$99,985,685	$99,308,509	$55,483,111	$677,176
2023	$101,200,230	$100,765,765	$56,856,746	$434,465
2022	$86,318,709	$85,951,848	$45,178,344	$366,861
2021	$84,060,384	$82,021,740	$51,745,576	$2,038,644
2020	$84,013,773	$82,813,154	$42,717,256	$1,200,619
2019	$86,847,976	$85,758,736	$37,715,974	$1,089,240
2018	$80,274,997	$79,660,410	$39,209,867	$614,587

ATLANTICARE HEALTH SYSTEM INC