KITTANNING, PA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)GLADE RUN MEDICAL ASSOCIATES INC, founded in 2009, is a community nonprofit in the Health Care sector that reported $6.7M in total revenue in fiscal year 2022. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $14.5M exceeded revenue, resulting in a 117% operating deficit.
TO ENGAGE IN ACTIVITIES RELATED TO THE PROMOTION OF HEALTH OF PERSONS IN THE CORPORATION'S SERVICE AREA BY EMPLOYING THE SUPPORT STAFF AND BY OPERATING MEDICAL PRACTICES IN SUPPORT OF THE MISSION OF ARMSTRONG CENTER FOR MEDICINE AND HEALTH, INC.
GLADE RUN MEDICAL ASSOCIATES, INC. OPERATES SEVERAL SPECIALTY PHYSICIAN CLINICS INCLUDING NEUROSURGERY, OB/GYN, GENERAL SURGERY, RHEUMATOLOGY, ORTHOPEDICS, UROLOGY, GI AND ENT TO THE RESIDENTS OF...
GLADE RUN MEDICAL ASSOCIATES, INC. OPERATES SEVERAL SPECIALTY PHYSICIAN CLINICS INCLUDING NEUROSURGERY, OB/GYN, GENERAL SURGERY, RHEUMATOLOGY, ORTHOPEDICS, UROLOGY, GI AND ENT TO THE RESIDENTS OF ARMSTRONG COUNTY. THESE CLINICS PROVIDE THE COMMUNITY ACCESS TO ADVANCED MEDICAL CARE CLOSE TO HOME. TOTAL VISITS FOR ALL OF THE SPECIALTY CLINICS FOR THE FISCAL YEAR TOTALED 58,935. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2022 | 2021 | Change | |
|---|---|---|---|
| Revenue | $6,673,954 | $8,832,151 | -0.2% |
| Expenses | $14,507,753 | $15,308,634 | -0.1% |
| Net Income | $-7,833,799 | $-6,476,483 | +0.2% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| BERT HEPNER | PHYSICIAN | 39.0 |
Highest
|
$776,820 | $41,549 | $818,369 |
| JATINDER KUMAR | PHYSICIAN | 39.0 |
Highest
|
$583,313 | $27,200 | $610,513 |
| CURT CONRY | PHYSICIAN | 39.0 |
Highest
|
$525,994 | $13,862 | $539,856 |
| JOHN I LEWIS | PRESIDENT / CEO | 1.0 |
Officer
Director
|
$0 | $60,947 | $536,649 |
| NATHAN FORMAINI | PHYSICIAN | 39.0 |
Highest
|
$511,375 | $17,295 | $528,670 |
| MUHAMMAD UMAR ALAM | PHYSICIAN | 39.0 |
Highest
|
$402,083 | $27,200 | $429,283 |
| JAMES BACKSTROM | CHIEF MEDICAL OFFICER | 1.0 |
Officer
|
$0 | $55,514 | $427,348 |
| MATTHEW KOCIOLA | CHIEF FINANCIAL OFFICER | 1.0 |
Officer
|
$0 | $58,717 | $324,638 |
| VOLKER ZAUN | SECRETARY / TREASURER | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | No data | No data | No data | No data |
| 2023 | $6,673,954 | $14,507,753 | $1,513,561 | $-7,833,799 |
| 2022 | $8,832,151 | $15,308,634 | $1,414,389 | $-6,476,483 |
| 2021 | $7,849,453 | $13,261,995 | $1,248,721 | $-5,412,542 |
| 2020 | $7,978,684 | $12,287,565 | $1,611,141 | $-4,308,881 |
| 2019 | $8,452,835 | $12,216,890 | $1,281,441 | $-3,764,055 |
| 2018 | $8,555,285 | $11,720,439 | $1,505,539 | $-3,165,154 |
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