NHRMC HOME CARE (EIN 352379154) - 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

1964

Legal Domicile

Principal Officer

CARL ARMATO

Phone

3362772411

Tax Period

2023-01-01 to 2023-12-31

NHRMC HOME CARE, founded in 1964, is a community nonprofit in the Health Care sector that reported $7.8M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $11.1M exceeded revenue, resulting in a 41% operating deficit.

Mission

FRINGE OR EXPENSE EXPLANATION FIRST-CLASS OR CHARTER TRAVEL: FIRST-CLASS OR CHARTER TRAVEL IS NOT A COVERED TRAVEL EXPENSE FOR EXECUTIVES; THEY ARE LIMITED TO BUSINESS OR COACH CLASS FARES FOR COMMERCIAL FLIGHTS. HOWEVER, CHARTER TRAVEL IS AVAILABLE TO CERTAIN EXECUTIVES, BOARD MEMBERS, AND APPROVED BUSINESS PERSONNEL MEETING APPLICABLE POLICY CRITERIA. TRAVEL FOR COMPANIONS: COMPANIONS ARE ALLOWED ON CERTAIN CHARTER FLIGHTS PAID FOR BY THE ORGANIZATION. IN THAT CASE, THE VALUE OF THE COMPANION'S FLIGHT IS CALCULATED UNDER APPLICABLE TAX LAWS AND THAT AMOUNT IS INCLUDED IN THE EXECUTIVE'S TAXABLE INCOME AS PRESCRIBED BY THE APPLICABLE TAX LAWS. DISCRETIONARY SPENDING ACCOUNT: CERTAIN EXECUTIVES RECEIVE A DISCRETIONARY SPENDING ACCOUNT. THE DOLLAR AMOUNT IN THE ACCOUNT IS PRE-APPROVED BY THE COMPENSATION AND LEADERSHIP COMMITTEE OF THE NOVANT HEALTH BOARD OF TRUSTEES. THE EXECUTIVE MAY DEFER THE AMOUNT TO A RETIREMENT ACCOUNT OR THE AMOUNT IS TREATED AS COMPENSATION AND IS SPREAD OUT OVER THE COURSE OF THE YEAR IN THE EXECUTIVE'S PAYCHECKS AS TAXABLE INCOME. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: WE PROVIDE TEMPORARY HOUSING ALLOWANCES IN CERTAIN EXECUTIVE RECRUITMENT AND RELOCATION PACKAGES. THE VALUE IS CALCULATED UNDER APPLICABLE TAX LAWS AND THAT AMOUNT IS INCLUDED IN THE EXECUTIVE'S INCOME AS PRESCRIBED BY THE APPLICABLE TAX LAWS.

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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 $0

Program Service Revenue $7,825,396

Investment Income $12,156

Other Revenue $0

TOTAL REVENUE $7,837,552

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,967,808

Fundraising Expenses $0

Program Expenses $8,308,319

Other Expenses $3,120,942

TOTAL EXPENSES $11,088,750

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,837,552	$6,912,468	+0.1%
Expenses	$11,088,750	$10,778,448	+0.0%
Net Income	$-3,251,198	$-3,865,980	-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

Employees

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

$3,828,740

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFERY WARHAFTIG MD	TRUSTEE	0.20	Director	$0	$0	$0
JEROME FENNELL	SECR	0.20	Officer Director	$0	$0	$0
LYNWOOD MEADOWS	TREAS	0.20	Officer Director	$0	$0	$0
MARTHA HIGHSMITH	CHAIR	0.20	Officer Director	$0	$0	$0
TERRI KING	TRUSTEE	0.20	Director	$0	$0	$0
FRED HARGETT	EVP/CFO (TO 9/6/23)	0.20	Officer	$0	$50,705	$2,451,375
GEOFFREY GARDNER	CFO (FR 9/6/23)	0.20	Officer	$0	$128,749	$1,037,855
RUTH GLASER	PRESIDENT	25.00	Officer	$0	$41,185	$339,510
CARMEN MATTHEWS	RN/CASE MANAGER	45.00	Highest	$128,807	$16,208	$145,015
GAYLE SAGE	RN/CASE MANAGER	45.00	Highest	$128,390	$254	$128,644
MEGAN HICKS	RN/CASE MANAGER	45.00	Highest	$135,701	$8,418	$144,119
SEAN GILBERT	PHYSICAL THERAPIST	45.00	Highest	$127,714	$25,117	$152,831
TREVOR WILT	PHYSICAL THERAPIST	45.00	Highest	$132,999	$25,523	$158,522

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	$7,837,552	$11,088,750	$2,995,441	$-3,251,198
2022	$6,912,468	$10,778,448	$3,119,188	$-3,865,980
2021	$8,731,038	$9,993,986	$3,627,613	$-1,262,948
2021	$2,042,361	$2,667,679	$3,249,766	$-625,318

NHRMC HOME CARE