SOMERSET HEALTH SERVICES INC (EIN 251441920) - 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

1983

Legal Domicile

Principal Officer

ANDREW RUSH

Phone

8144435221

Tax Period

2021-07-01 to 2022-06-30

SOMERSET HEALTH SERVICES INC, founded in 1983, is a mid-sized nonprofit in the Health Care sector that reported $15.4M in total revenue in fiscal year 2021. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $26.4M exceeded revenue, resulting in a 71% operating deficit.

Mission

SOMERSET HEALTH SERVICES IS A COMMUNITY HEALTHCARE SERVICE THAT IS COMMITTED TO MANAGING AND OPERATING PRIMARY CARE AND SPECIALTY PHYSICIAN PRACTICES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $637,980

Program Service Revenue $12,857,313

Investment Income $0

Other Revenue $1,939,977

TOTAL REVENUE $15,435,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $19,280,409

Fundraising Expenses $0

Program Expenses $22,039,614

Other Expenses $7,071,192

TOTAL EXPENSES $26,351,601

Year-over-Year Comparison

	2021	2020	Change
Revenue	$15,435,270	$13,949,626	+0.1%
Expenses	$26,351,601	$24,008,873	+0.1%
Net Income	$-10,916,331	$-10,059,247	+0.1%

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

210

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

$648,319

Total Directors

$2,893,724

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHARON CLAPPER	CHAIRMAN	1.00	Officer Director	$0	$0	$0
BRUCE SHIPLEY	SECRETARY	1.00	Officer Director	$0	$0	$0
TROY MILLER	MEMBER	1.00	Director	$0	$0	$0
TED DESKEVICH	MEMBER	1.00	Director	$0	$0	$0
KRISTA MATHIAS	MEMBER	1.00	Director	$0	$0	$0
MARK YAROS MD	MEMBER	40.00	Director	$276,797	$44,384	$321,181
DAVID MARTIN	MEMBER	1.00	Director	$0	$151,251	$1,287,755
DAVID RUSSELL	MEMBER	1.00	Director	$0	$75,916	$717,737
DAVID BURWELL MD	MEMBER	1.00	Director	$0	$72,979	$567,051
ANDREW RUSH	CEO	6.00	Officer	$0	$86,292	$447,827
MONICA J KLATT	CFO	1.00	Officer	$0	$26,746	$200,492
DAVID ARMSTRONG MD	PHYSICIAN	40.00	Highest	$666,648	$40,415	$707,063
JACOB SHIPLEY MD	PHYSICIAN	40.00	Highest	$814,933	$38,903	$853,836
EBERE UGWANYI MD	PHYSICIAN	40.00	Highest	$478,060	$38,886	$516,946
EHAB MORCOS MD	PHYSICIAN	40.00	Highest	$1,088,692	$24,674	$1,113,366
ALLISON HARBART MD	PHYSICIAN	40.00	Highest	$492,008	$42,689	$534,697

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
2022	$15,435,270	$26,351,601	$5,133,390	$-10,916,331
2021	$13,949,626	$24,008,873	$6,485,016	$-10,059,247
2020	$11,045,909	$19,915,749	$6,154,149	$-8,869,840
2019	$12,068,520	$18,112,383	$3,843,802	$-6,043,863
2018	$11,376,508	$16,685,023	$3,700,333	$-5,308,515

SOMERSET HEALTH SERVICES INC