INDIANA AMBULATORY SURGICAL ASSOCIATES INC (EIN 232923182) - 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

2018

Legal Domicile

Principal Officer

STEPHEN A WOLFE

Phone

7244651922

Tax Period

2022-07-01 to 2023-06-30

INDIANA AMBULATORY SURGICAL ASSOCIATES INC, founded in 2018, is a community nonprofit in the Health Care sector that reported $2.6M in total revenue in fiscal year 2022. Revenue decreased 9% compared to the prior year. Expenses of $3.4M exceeded revenue, resulting in a 30% operating deficit.

Mission

PROVIDES SURGICAL SERVICES FOR REGIONAL SURGEONS AND PHYSICIANS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,558,354

Investment Income $0

Other Revenue $25,722

TOTAL REVENUE $2,584,076

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,148,437

Fundraising Expenses $0

Program Expenses $3,357,602

Other Expenses $2,211,005

TOTAL EXPENSES $3,359,442

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,584,076	$2,832,330	-0.1%
Expenses	$3,359,442	$3,036,310	+0.1%
Net Income	$-775,366	$-203,980	+2.8%

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

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

$2,075,925

Total Directors

$913,512

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD NEFF MD	CHAIRMAN/CMO	2.00	Officer Director	$0	$28,299	$426,217
SANDRA J LUTTNER	VICE CHAIR/SECRETARY	2.00	Officer Director	$0	$17,964	$184,992
JAMES KINNEER	DIRECTOR/VP, ORG. DEVELOPMENT	2.00	Officer Director	$0	$34,514	$261,866
GREGG W WILSON DMD	DIRECTOR/MEDICAL DIRECTOR	6.00	Director	$40,437	$0	$40,437
THOMAS TREVORROW MD	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN A WOLFE	PRESIDENT & CEO	1.00	Officer	$0	$42,593	$844,704
ROBERT GONGAWARE	CHIEF FINANCIAL OFFICER	1.00	Officer	$0	$34,321	$358,146

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$2,584,076	$3,359,442	$2,256,841	$-775,366
2022	$2,832,330	$3,036,310	$2,369,109	$-203,980
2021	$2,281,961	$2,472,290	$3,047,320	$-190,329
2020	$1,855,229	$2,480,898	$3,216,160	$-625,669

INDIANA AMBULATORY SURGICAL ASSOCIATES INC