HEALTHNET INC (EIN 351579827) - 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

1983

Legal Domicile

Principal Officer

JOSEPH LACKEY

Phone

3179572000

Tax Period

2023-01-01 to 2023-12-31

HEALTHNET INC, founded in 1983, is a mid-sized nonprofit in the Health Care sector that reported $85.5M in total revenue in fiscal year 2023.

Mission

THE MISSION OF HEALTHNET, INC. IS TO IMPROVE LIVES WITH COMPASSIONATE HEALTH CARE AND SUPPORT SERVICES, 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 $25,547,623

Program Service Revenue $59,221,576

Investment Income $497,045

Other Revenue $266,002

TOTAL REVENUE $85,532,246

Expense Breakdown

Grants Paid $0

Salaries & Benefits $62,995,112

Fundraising Expenses $629,951

Program Expenses $72,910,601

Other Expenses $26,408,381

TOTAL EXPENSES $89,403,493

Year-over-Year Comparison

	2023	2022	Change
Revenue	$85,532,246	$80,784,256	+0.1%
Expenses	$89,403,493	$84,831,044	+0.1%
Net Income	$-3,871,247	$-4,046,788	0.0%

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

909

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

$2,338,018

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERRI GARCIA	CHAIRPERSON & PRESIDENT - PARTIAL TERM	2.00	Officer Director	$0	$0	$0
ROB SANTA	VICE CHAIRPERSON	2.00	Officer Director	$0	$0	$0
MARIA TISHNER	SECRETARY	2.00	Officer Director	$0	$0	$0
TOBY SALYERS	TREASURER	2.00	Officer Director	$0	$0	$0
WADE WINGLER	BOARD MEMBER	2.00	Director	$0	$0	$0
NICOE BARNES	BOARD MEMBER	2.00	Director	$0	$0	$0
KATHY CHURCH	BOARD MEMBER	2.00	Director	$0	$0	$0
TRACEY GUERRERO	BOARD MEMBER - PARTIAL TERM	2.00	Director	$0	$0	$0
JUSTIN THANG	BOARD MEMBER	2.00	Director	$0	$0	$0
ELI CHAVEZ	BOARD MEMBER - PARTIAL TERM	2.00	Director	$0	$0	$0
WESLEY FERRELL	BOARD MEMBER	2.00	Director	$0	$0	$0
RICARDO DIAZ	COO/CEO	40.00	Officer	$392,558	$22,934	$415,492
JOSEPH LACKEY	CFO	40.00	Officer	$208,198	$18,675	$226,873
RICHARD REIFENBERG	CHIEF MEDICAL OFFICER	40.00	Officer	$265,473	$26,545	$292,018
SHEILA ALLEN	CHIEF COMPLIANCE & QUALITY	40.00	Officer	$189,610	$17,023	$206,633
KAY JOHNSON	CHIEF DEVELOPMENT & COMMUN	40.00	Officer	$189,087	$11,516	$200,603
RENE KOUGAL	CHIEF OPERATING OFFICER	40.00	Officer	$235,608	$14,186	$249,794
DAN WEGG	CHIEF COMPLIANCE OFFICER	40.00	Officer	$149,132	$13,015	$162,147
CARRIE BONSACK	DEPUTY CHIEF OPERATING OFF	40.00	Officer	$49,562	$1,999	$51,561
VARON CANTRELL	CHIEF MEDICAL INFORMATION	40.00	Officer	$320,740	$27,377	$348,117
MISTY LEWIS	CHIEF EXTERNAL AFFAIRS OFF	40.00	Officer	$79,686	$5,594	$85,280
CYNTHIA BRUMBARGER	INTERIM CHIEF EXTERNAL AFFAIRS OFFICER	40.00	Officer	$88,211	$11,289	$99,500
MARY TRAINOR MD	OB/GYN	40.00	Highest	$412,287	$21,667	$433,954
JANA SEITZ MD	OB/GYN	40.00	Highest	$363,865	$20,540	$384,405
EMILY BOWSHER MD	OB/GYN	40.00	Highest	$333,389	$31,790	$365,179
TAMARA MENDEZ TORRES MD	OB/GYN	40.00	Highest	$309,792	$12,365	$322,157
KIERSA DURFEE	OB/GYN	40.00	Highest	$297,118	$31,144	$328,262

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	$85,532,246	$89,403,493	$45,470,418	$-3,871,247
2022	$80,784,256	$84,831,044	$45,218,082	$-4,046,788
2021	$82,635,929	$75,861,075	$38,369,319	$6,774,854
2020	$63,561,257	$68,483,005	$33,908,365	$-4,921,748
2019	$72,517,486	$62,653,768	$31,677,021	$9,863,718
2018	$59,783,096	$64,402,918	$25,119,043	$-4,619,822

HEALTHNET INC