True North Medical Group PC D/B/A … - Form 990 Financial Data

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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

2011

Legal Domicile

Principal Officer

Michael J Dowling

Phone

5163216058

Tax Period

2023-01-01 to 2023-12-31

True North Medical Group PC D/B/A Orlin & Cohen Medical Specialists Group, founded in 2011, is a major nonprofit in the Health Care sector that reported $196.2M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $252.0M exceeded revenue, resulting in a 28% operating deficit.

Mission

TRUE NORTH MEDICAL GROUP, PC IS PART OF NORTHWELL HEALTH, INC. ("NORTHWELL"), WHICH STRIVES TO IMPROVE THE HEALTH OF THE COMMUNITIES IT SERVES AND IS COMMITTED TO PROVIDING THE HIGHEST QUALITY CLINICAL CARE; EDUCATING THE CURRENT AND FUTURE GENERATIONS OF HEALTHCARE PROFESSIONALS; SEARCHING FOR NEW ADVANCES IN MEDICINE THROUGH THE CONDUCT OF BIOMEDICAL RESEARCH; PROMOTING HEALTH EDUCATION; AND CARING FOR THE ENTIRE COMMUNITY REGARDLESS OF THE ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $222,128,877 Revenue: $169,294,126

True North Medical Group, PC is an affiliated member of Northwell Health, Inc. ("Northwell") and part of Northwell's medical group and ambulatory lines of service. It strives to make a measurable...

True North Medical Group, PC is an affiliated member of Northwell Health, Inc. ("Northwell") and part of Northwell's medical group and ambulatory lines of service. It strives to make a measurable difference in the health status of the communities it serves by providing comprehensive health care regardless of ability to pay.

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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 $43,664

Program Service Revenue $169,294,126

Investment Income $0

Other Revenue $26,863,536

TOTAL REVENUE $196,201,326

Expense Breakdown

Grants Paid $0

Salaries & Benefits $177,727,517

Fundraising Expenses $0

Program Expenses $222,128,877

Other Expenses $74,276,984

TOTAL EXPENSES $252,004,501

Year-over-Year Comparison

	2023	2022	Change
Revenue	$196,201,326	$161,443,844	+0.2%
Expenses	$252,004,501	$228,559,520	+0.1%
Net Income	$-55,803,175	$-67,115,676	-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

N/A

Employees

1588

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

$7,808,165

Total Directors

$3,297,451

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG LEVITZ MD	Sprvsng Med Dir, Fluoroscopy	50.0	Highest	$2,483,171	$78,569	$2,561,740
SCOTT ALPERT MD	Clin Dir, Joint Pres & Reconst	50.0	Highest	$2,424,300	$78,507	$2,502,807
JOSHUA MITGANG MD	Physician	50.0	Highest	$2,107,069	$78,507	$2,185,576
JAMES PACI MD	Dir, Orthpaedics	50.0	Highest	$1,902,774	$78,507	$1,981,281
GREGORY LIEBERMAN MD	Physician	50.0	Highest	$1,812,312	$36,900	$1,849,212
DAVID BATTINELLI	VP & Treasurer	0.0	Officer Director	$0	$78,569	$1,814,841
MICHELE CUSACK	CFO	0.0	Officer	$0	$78,507	$1,696,458
JILL KALMAN	President & Secretary	0.0	Officer Director	$0	$64,679	$1,482,610
DEBORAH SCHIFF	EVP	0.0	Officer	$0	$64,679	$1,441,503
LAURENCE KRAEMER	Asst Secretary & Chf Legal Off	0.0	Officer	$0	$69,888	$1,372,753
MICHAEL PASSET	CEO	0.0	Officer	$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	No data	No data	No data	No data
2023	$196,201,326	$252,004,501	$213,360,210	$-55,803,175
2022	$161,443,844	$228,559,520	$210,373,322	$-67,115,676
2021	$203,036,444	$204,873,100	$203,781,851	$-1,836,656
2020	$132,136,108	$163,278,897	$194,387,509	$-31,142,789
2019	$110,089,282	$117,971,339	$170,146,926	$-7,882,057
2018	$77,471,086	$83,735,864	$113,325,511	$-6,264,778

True North Medical Group PC D/B/A Orlin & Cohen Medical Specialists Group