CARDIOVASCULAR INSTITUTE

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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

1997

Legal Domicile

Principal Officer

SHELDON GOLDBERG MD

Phone

2153892300

Tax Period

2023-07-01 to 2024-06-30

CARDIOVASCULAR INSTITUTE, founded in 1997, is a small nonprofit that reported $650K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $836K exceeded revenue, resulting in a 28% operating deficit.

Mission

THE CARDIOVASCULAR INSTITUTE CONDUCTS MEDICAL RESEARCH AND PROFESSIONAL EDUCATION SEMINARS, AND PROVIDES COMMUNITY EDUCATION IN THE AREA OF CARDIOVASCULAR MEDICINE.

Program Service Accomplishments

Program 1

FELLOWSHIP GRANTS ISSUED FOR RESEARCH.

Program 2

Expenses: $813,850 Revenue: $159,046

CONDUCTING PROFESSIONAL EDUCATION SEMINARS IN THE AREA OF CARDIOVASCULAR MEDICINE.

Program 3

PROVIDES COMMUNITY EDUCATION SEMINARS IN THE AREA OF CARDIOVASCULAR HEALTH.

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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 $427,370

Program Service Revenue $159,046

Investment Income $64,076

Other Revenue $0

TOTAL REVENUE $650,492

Expense Breakdown

Grants Paid $0

Salaries & Benefits $390,331

Fundraising Expenses $6,128

Program Expenses $813,850

Other Expenses $445,389

TOTAL EXPENSES $835,720

Year-over-Year Comparison

	2023	2022	Change
Revenue	$650,492	$743,378	-0.1%
Expenses	$835,720	$858,898	0.0%
Net Income	$-185,228	$-115,520	+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

Volunteers

100

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

$206,057

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELE DAHAN	EXECUTIVE DI	36.00	Officer	$126,786	$13,517	$140,303
MARK HARTNETT	EXECUTIVE DI	4.00	Officer	$59,879	$5,875	$65,754
PATRICIA K SCHELLER BSE	BOARD MEMBER	1.00	Director	$0	$0	$0
ELAINA SPILOVE CIMA	BOARD MEMBER	0.67	Director	$0	$0	$0
DOUGLAS W CLARK MBA	BOARD MEMBER	1.00	Director	$0	$0	$0
DANIEL MCCORMICK MD	BOARD MEMBER	0.67	Director	$0	$0	$0
DEAN KARALIS MD	BOARD MEMBER	N/A	Director	$0	$0	$0
JOSEPH KRAYNAK MD	BOARD MEMBER	0.83	Director	$0	$0	$0
MARK VICTOR MD	CO-MEDICAL D	5.00	Officer Director	$0	$0	$0
MUHAMMAD RAZA MD	BOARD MEMBER	1.00	Director	$0	$0	$0
PASQUALE PROCACCI MD	CO-MEDICAL D	3.75	Officer Director	$0	$0	$0
SCOTT HESSEN MD	BOARD MEMBER	1.00	Director	$0	$0	$0
SHELDON GOLDBERG MD	PRESIDENT	5.00	Officer Director	$0	$0	$0
VERONICA COVALESKY MD	IM. PAST PR/	5.00	Officer Director	$0	$0	$0
LYNDA MISCHEL MHA	BOARD MEMBER	1.00	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
2025	No data	No data	No data	No data
2024	$650,492	$835,720	$330,156	$-185,228
2023	$743,378	$858,898	$509,507	$-115,520
2022	$584,600	$614,891	$625,538	$-30,291
2021	$459,814	$560,409	$683,846	$-100,595
2021	$487,550	$560,409	$711,582	$-72,859
2020	$631,368	$786,310	$777,211	$-154,942
2019	$653,337	$606,299	$882,800	$47,038
2018	$358,224	$611,616	$834,917	$-253,392