STATE OF TEXAS ASSOC OF RHEUMATOLOGISTS (EIN 260858826) - 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

2010

Legal Domicile

Principal Officer

NASER ELKHALILI MD

Phone

2104772626

Tax Period

2025-01-01 to 2025-12-31

STATE OF TEXAS ASSOC OF RHEUMATOLOGISTS, founded in 2010, is a small nonprofit in the Human Services sector that reported $896K in total revenue in fiscal year 2025. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.0M exceeded revenue, resulting in a 12% operating deficit.

Mission

Educate physician members on the topics most relevant to the practicing rheumatologist.

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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 (2025)

Revenue Breakdown

Contributions & Grants $606,000

Program Service Revenue $290,366

Investment Income $0

Other Revenue $0

TOTAL REVENUE $896,366

Expense Breakdown

Grants Paid $400,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $928,723

Other Expenses $602,206

TOTAL EXPENSES $1,002,206

Year-over-Year Comparison

	2025	2024	Change
Revenue	$896,366	$818,978	+0.1%
Expenses	$1,002,206	$954,554	+0.0%
Net Income	$-105,840	$-135,576	-0.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
JANE B AYALA MD	PRESIDENT-ELECT	Officer Director	$0	$0	$0
REETI JOSHI MD	Treasurer	Officer Director	$0	$0	$0
LUIS ZUNIGA-MONTES MD	Secretary	Officer Director	$0	$0	$0
NASER ELKHALILI MD	President	Officer 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	$896,366	$1,002,206	$1,321,375	$-105,840
2024	$818,978	$954,554	$1,331,421	$-135,576
2023	$419,890	$569,141	$1,343,247	$-149,251
2022	$874,144	$1,119,674	$1,121,498	$-245,530
2021	$566,064	$262,727	$1,367,028	$303,337
2020	$609,329	$415,349	$1,067,841	$193,980
2019	$647,834	$402,325	$944,347	$245,509
2018	$555,461	$287,305	$679,617	$268,156

STATE OF TEXAS ASSOC OF RHEUMATOLOGISTS