HERITAGE VALLEY HEALTH SYSTEM FOUNDATION (EIN 251801534) - 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

1996

Legal Domicile

Principal Officer

NORMAN F MITRY

Phone

4127497121

Tax Period

2023-07-01 to 2024-06-30

HERITAGE VALLEY HEALTH SYSTEM FOUNDATION, founded in 1996, is a mid-sized nonprofit in the Health Care sector that reported $13.3M in total revenue in fiscal year 2023. Revenue surged 230% from the prior year, signaling strong growth momentum. Expenses of $35.3M exceeded revenue, resulting in a 166% operating deficit.

Mission

HERITAGE VALLEY HEALTH SYSTEM FOUNDATION IS A SUPPORTING ORGANIZATION AND IS RESPONSIBLE FOR CARRYING OUT THE PHILANTHROPIC ACTIVITIES FOR HERITAGE VALLEY SEWICKLEY, HERITAGE VALLEY BEAVER, AND HERITAGE VALLEY KENNEDY DIVISIONS OF VALLEY MEDICAL FACILITIES, BY PROVIDING STEWARDSHIP FOR MONIES RAISED WHILE WORKING TOWARD ENHANCEMENT OF PATIENT CARE AND PROGRAMS THROUGHOUT THE COMMUNITY.

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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 $1,355,190

Program Service Revenue $0

Investment Income $11,917,528

Other Revenue $14,497

TOTAL REVENUE $13,287,215

Expense Breakdown

Grants Paid $35,036,382

Salaries & Benefits $231,538

Fundraising Expenses $104,192

Program Expenses $35,036,382

Other Expenses $28,488

TOTAL EXPENSES $35,296,408

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,287,215	$4,025,769	+2.3%
Expenses	$35,296,408	$2,218,954	+14.9%
Net Income	$-22,009,193	$1,806,815	-13.2%

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

N/A

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

$1,400,160

Total Directors

$1,248,206

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NORMAN MITRY	PRESIDENT & CEO	2.00	Officer Director	$0	$44,836	$1,177,881
ROBERT TERWILLIGER	CHAIR	2.00	Officer Director	$0	$0	$0
KEVIN FLANNERY	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
LYNN VESCIO	SECRETARY	0.50	Officer Director	$0	$0	$0
FREDERICK CLERICI	TREASURER	0.50	Officer Director	$0	$0	$0
TERRI TUNICK RN	DIRECTOR	0.50	Director	$0	$0	$0
JOHN EDSON ESQ	DIRECTOR	0.50	Director	$0	$0	$0
CRAIG RIPPOLE	DIRECTOR	0.50	Director	$0	$0	$0
LUBNA BUKHARI MD	DIRECTOR	0.50	Director	$0	$0	$0
SHANE CONLAN	DIRECTOR	0.50	Director	$0	$0	$0
CORRIE MANJOO MD MPH	DIRECTOR/PHYSICIAN	0.50	Director	$0	$0	$70,325
GEORGE MISTOVICH DMD	DIRECTOR	0.50	Director	$0	$0	$0
TAMMY ZELENKO	DIRECTOR	0.50	Director	$0	$0	$0
DONALD FLICK	DIRECTOR	0.50	Director	$0	$0	$0
THOMAS LEYDIG	DIRECTOR	0.50	Director	$0	$0	$0
GARRETT RICHARDSON	ASSOCIATE VP, FINANCE	2.00	Officer	$0	$11,808	$222,279

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	$13,287,215	$35,296,408	$113,463,964	$-22,009,193
2023	$4,025,769	$2,218,954	$135,641,948	$1,806,815
2022	$9,316,079	$2,871,077	$124,107,725	$6,445,002
2021	$6,008,540	$2,093,376	$140,376,483	$3,915,164
2020	$1,806,388	$4,033,111	$111,693,457	$-2,226,723
2019	$4,130,872	$6,095,047	$104,405,934	$-1,964,175
2018	$5,516,892	$5,367,392	$102,011,656	$149,500

HERITAGE VALLEY HEALTH SYSTEM FOUNDATION