FAMILY HEALTH NETWORK INC

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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

1994

Legal Domicile

Principal Officer

Jacob Stuckey

Phone

3128369500

Tax Period

2023-01-01 to 2023-12-31

FAMILY HEALTH NETWORK INC, founded in 1994, is a micro nonprofit that reported $84K in total revenue in fiscal year 2023. Revenue surged 157% from the prior year, signaling strong growth momentum. Expenses of $252K exceeded revenue, resulting in a 200% operating deficit.

Mission

PRIOR TO BEING PLACED INTO REHABILITATION BY ORDER OF THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS ON MARCH 8, 2019, FAMILY HEALTH NETWORK'S MISSION WAS TO PROVIDE MANAGED-CARE SERVICES FOR THE INDIGENT WITH THE ILLINOIS MEDICAID AGENCY AND TO SUPPORT CHICAGO INNER-CITY SAFETY NET HOSPITALS.

Program Service Accomplishments

Program 1

Expenses: $6,433 Revenue: $0

FAMILY HEALTH NETWORK, INC. (FHN) PROVIDED MANAGED-CARE SERVICES FOR THE INDIGENT WITH THE ILLINOIS MEDICAID AGENCY AND SUPPORT OF CHICAGO INNER-CITY HOSPITALS PRIOR TO BEING PLACED INTO...

FAMILY HEALTH NETWORK, INC. (FHN) PROVIDED MANAGED-CARE SERVICES FOR THE INDIGENT WITH THE ILLINOIS MEDICAID AGENCY AND SUPPORT OF CHICAGO INNER-CITY HOSPITALS PRIOR TO BEING PLACED INTO REHABILITATION BY ORDER OF THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS ON MARCH 8, 2019. THE REHABILITATOR COMPLETED THE WINDING UP OF FHN'S BUSINESS AFFAIRS IN 2023. ON MAY 22, 2023, FHN'S RECEIVERSHIP PROCEEDINGS WERE TERMINATED BY ORDER OF THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS, THE FHN ESTATE WAS CLOSED AND A FINAL DISTRIBUTION OF ASSETS TO CREDITORS WAS MADE.

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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 $0

Investment Income $16,916

Other Revenue $67,094

TOTAL REVENUE $84,010

Expense Breakdown

Grants Paid $0

Salaries & Benefits $54,209

Fundraising Expenses $0

Program Expenses $6,433

Other Expenses $191,794

TOTAL EXPENSES $252,436

Year-over-Year Comparison

	2023	2022	Change
Revenue	$84,010	$32,700	+1.6%
Expenses	$252,436	$313,108	-0.2%
Net Income	$-168,426	$-280,408	-0.4%

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

N/A

Independent Members

N/A

Employees

N/A

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

$222

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN BALDWIN	DIRECTOR OF RECEIVERSHIP OPERATIONS	0.0	Officer	$0	$0	$115
JACOB STUCKEY	SPECIAL DEPUTY RECEIVER	0	Officer	$0	$0	$107
MICHAEL COSENTINO	CHIEF REINSURANCE AND TECHNOLOGY OFFICER	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
2023	$84,010	$252,436	No data	$-168,426
2022	$32,700	$313,108	$15,017,194	$-280,408
2021	$40,615	$381,960	$15,311,299	$-341,345
2020	$145,454	$-2,061,567	$16,060,095	$2,207,021