CHARTERCARE FOUNDATION (EIN 260236669) - 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

2007

Legal Domicile

Principal Officer

PATRICIA WEGRZYN MCGREEN

Phone

4013494602

Tax Period

2023-10-01 to 2024-09-30

CHARTERCARE FOUNDATION, founded in 2007, is a small nonprofit that reported $342K in total revenue in fiscal year 2023. Revenue surged 39% from the prior year, signaling strong growth momentum. Net assets of $6.8M represent 238 months of operating reserves.

Mission

TO SERVE AS A COMMUNITY RESOURCE FOR ACCESSIBLE, AFFORDABLE AND RESPONSIVE HEALTH CARE AND RELATED SERVICES- INCLUDE DISEASE PREVENTION, EDUCATION AND RESEARCH GRANTS, SCHOLARSHIPS, CLINICS AND RELATED ACTIVITIES TO BENEFIT THE GREATER RHODE ISLAND 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 $64,947

Program Service Revenue $0

Investment Income $247,642

Other Revenue $29,000

TOTAL REVENUE $341,589

Expense Breakdown

Grants Paid $116,599

Salaries & Benefits $114,223

Fundraising Expenses $0

Program Expenses $256,848

Other Expenses $115,849

TOTAL EXPENSES $346,671

Year-over-Year Comparison

	2023	2022	Change
Revenue	$341,589	$245,530	+0.4%
Expenses	$346,671	$422,504	-0.2%
Net Income	$-5,082	$-176,974	-1.0%

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

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

$101,616

Total Directors

$101,616

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICIA WEGZRYN MCGREEN	PRESIDENT	1.00	Officer Director	$0	$0	$0
PETER F DEBLASIO JR MD	SECRETARY	1.00	Officer Director	$0	$0	$0
SHANNON SHALLCROSS MS	VICE PRESIDENT/TREASURER	1.00	Officer Director	$0	$0	$0
PAULA IACONO	EXECUTIVE DIRECTOR	40.00	Officer Director	$101,616	$0	$101,616
ANGELLA FRANKLIN	MEMBER	1.00	Director	$0	$0	$0
CAROLYN YOUNG MD	MEMBER	1.00	Director	$0	$0	$0
CARMEN R DIAZ-JUSINO	MEMBER	1.00	Director	$0	$0	$0
MARY P BLANCHET	MEMBER	1.00	Director	$0	$0	$0
RILWAN J FEYISITAN JR	MEMBER	1.00	Director	$0	$0	$0
MARY C SULLIVAN	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
2024	$341,589	$346,671	$6,785,792	$-5,082
2023	$245,530	$422,504	$6,008,338	$-176,974
2022	$591,561	$457,010	$5,773,213	$134,551
2021	$428,363	$395,834	$6,584,245	$32,529
2020	$283,883	$4,397,770	$5,520,496	$-4,113,887
2019	$470,788	$431,182	$9,339,645	$39,606
2018	$669,659	$577,549	$9,516,348	$92,110

CHARTERCARE FOUNDATION