TRI STATE HEALTH SERVICES INC (EIN 341522484) - 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

1986

Legal Domicile

Principal Officer

MATT GRIMSHAW

Phone

7402837841

Tax Period

2023-07-01 to 2024-06-30

TRI STATE HEALTH SERVICES INC, founded in 1986, is a community nonprofit in the Health Care sector that reported $3.4M in total revenue in fiscal year 2023. Expenses of $4.7M exceeded revenue, resulting in a 36% operating deficit.

Mission

PROVIDES SERVICES TO PERSONS AGED 60+ AND THE HANDICAPPED OF ANY AGE WITH FUNDING FROM AREA AGENCY ON AGING AS WELL AS A LOCAL LEVY. ALSO PROVIDES RENTAL SPACE FOR EXEMPT AND NON-EXEMPT HEALTH CARE PROVIDERS.

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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 $2,169,825

Program Service Revenue $1,180,582

Investment Income $82,866

Other Revenue $105

TOTAL REVENUE $3,433,378

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,507,092

Other Expenses $4,657,005

TOTAL EXPENSES $4,657,005

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,433,378	$3,537,083	0.0%
Expenses	$4,657,005	$4,056,242	+0.1%
Net Income	$-1,223,627	$-519,159	+1.4%

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

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

$2,408,469

Total Directors

$2,408,469

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN TIMMIS	CHAIR/SYS SVP-STRAT-TRANSFORMATION	2.00	Officer Director	$0	$47,433	$1,346,596
MATT GRIMSHAW	PRESIDENT/CEO	2.00	Officer Director	$0	$55,444	$755,468
DAVE WERKIN	SEC'Y/TREAS/CFO TRINITY HEALTH SYS	2.00	Officer Director	$0	$28,756	$306,405

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	$3,433,378	$4,657,005	$9,712,708	$-1,223,627
2023	$3,537,083	$4,056,242	$10,211,506	$-519,159
2022	$3,303,251	$3,821,368	$13,042,311	$-518,117
2021	$3,555,972	$3,277,820	$11,920,712	$278,152
2020	$3,480,223	$3,196,791	$11,677,276	$283,432
2019	$3,209,843	$3,444,452	$10,254,455	$-234,609
2018	$4,557,896	$3,515,473	$10,308,366	$1,042,423

TRI STATE HEALTH SERVICES INC