HANCOCK PHYSICIAN NETWORK LLC (EIN 352051598) - 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

1997

Legal Domicile

Principal Officer

BRIAN MUCKERHEIDE

Phone

3174686236

Tax Period

2023-01-01 to 2023-12-31

HANCOCK PHYSICIAN NETWORK LLC, founded in 1997, is a mid-sized nonprofit that reported $30.9M in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year. Expenses of $35.3M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO IMPROVE THE HEALTH OF PATIENTS AND FAMILIES IN THE COMMUNITIES IT SERVES WITH RESPECT, INTEGRITY, AND CLINICAL EXCELLENCE. HANCOCK PHYSICIAN NETWORK'S VISION IS TO BE THE PREMIER PROVIDER OF QUALITY HEALTHCARE SERVICES TO HANCOCK AND SURROUNDING COUNTIES THAT ACHIEVES THE HIGHEST LEVEL OF PATIENT SATISFACTION, PATIENT OUTCOMES, AND QUALITY OF LIFE.

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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 $9,107,087

Program Service Revenue $20,956,034

Investment Income $75,680

Other Revenue $791,708

TOTAL REVENUE $30,930,509

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,296,215

Fundraising Expenses $0

Program Expenses $28,443,911

Other Expenses $9,010,906

TOTAL EXPENSES $35,307,121

Year-over-Year Comparison

	2023	2022	Change
Revenue	$30,930,509	$37,135,050	-0.2%
Expenses	$35,307,121	$36,288,148	0.0%
Net Income	$-4,376,612	$846,902	-6.2%

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

361

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

$237,503

Total Directors

$237,503

Key Employees

$1,180,733

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN MUCKERHEIDE	HPN PRESIDENT	40.00	Officer Director	$56,485	$34,754	$237,503
DR PAUL HALTER	MEDICAL DIRECTOR	40.00	Key Emp	$196,877	$11,987	$208,864
DR AMANDA GOLDSTEIN	MEDICAL DIRECTOR	40.00	Key Emp	$347,391	$39,282	$386,673
DR MARGARET FITZSIMMONS	MEDICAL DIRECTOR	40.00	Key Emp	$279,563	$31,736	$311,299
DR JEFFREY MOSSLER	VP OF PHYSICIAN PRACTICE MANAGEMENT	40.00	Key Emp	$0	$12,537	$273,897
DR KRISTIN BAGLEY	PHYSICIAN	40.00	Highest	$401,889	$20,222	$422,111
DR SCOTT CAPEN	PHYSICIAN	40.00	Highest	$493,057	$42,054	$535,111
DR DREW DUST	PHYSICIAN	40.00	Highest	$369,895	$10,995	$380,890
DR JOHN HITTLE	PHYSICIAN	40.00	Highest	$406,437	$46,369	$452,806
DR RUDO MASHINDI	PHYSICIAN	40.00	Highest	$498,922	$52,780	$551,702

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	$30,930,509	$35,307,121	$7,329,512	$-4,376,612
2022	$37,135,050	$36,288,148	$11,946,260	$846,902
2021	$39,333,911	$35,484,106	$11,288,141	$3,849,805
2020	$36,510,624	$37,077,454	$10,642,192	$-566,830

HANCOCK PHYSICIAN NETWORK LLC