Primary Healthcare Associates SC (EIN 364132865) - 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

THOMAS JACKIEWICZ

Phone

7083332300

Tax Period

2024-07-01 to 2025-02-05

Primary Healthcare Associates SC, founded in 1997, is a mid-sized nonprofit that reported $18.5M in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $37.9M exceeded revenue, resulting in a 105% operating deficit.

Mission

PRIMARY HEALTHCARE ASSOCIATES SC (PHA) WAS FORMED TO DIAGNOSE AND TREAT HUMAN AILMENTS AND INJURIES, WHETHER PHYSICAL OR MENTAL, WITHIN THE UCM COMMUNITY HEALTH & HOSPITAL DIVISION, INC. AREA.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $16,817,304

Investment Income $0

Other Revenue $1,660,360

TOTAL REVENUE $18,477,664

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,938,741

Fundraising Expenses $0

Program Expenses $37,093,050

Other Expenses $12,954,054

TOTAL EXPENSES $37,892,795

Year-over-Year Comparison

	2024	2023	Change
Revenue	$18,477,664	$26,433,778	-0.3%
Expenses	$37,892,795	$54,566,124	-0.3%
Net Income	$-19,415,131	$-28,132,346	-0.3%

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

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

$2,794,278

Total Directors

$745,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK KOZLOFF MD	PRESIDENT/VP/TREASURER/SECRETARY	40.00	Officer Director	$0	$56,519	$745,800
IVAN SAMSTEIN	CFO (THRU 12/31/24)	1.00	Officer	$0	$252,606	$2,048,478
SRINIVASU KUSUMA MD	PHYSICIAN	40.00	Highest	$0	$17,379	$1,479,235
PHILLIP NIGRO MD	PHYSICIAN	40.00	Highest	$0	$59,548	$1,076,409
JAMES WALLACE MD	PHYSICIAN	40.00	Highest	$0	$19,250	$1,018,058
AKBAR RAHMANI MD	PHYSICIAN	40.00	Highest	$0	$44,216	$881,346
MOHAMMAD SHAMSHUDDIN MD	PHYSICIAN	40.00	Highest	$0	$56,519	$903,163

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	$18,477,664	$37,892,795	No data	$-19,415,131
2024	No data	No data	No data	No data
2023	$24,331,641	$49,681,398	$4,736,060	$-25,349,757
2022	$26,339,971	$45,689,735	$5,158,471	$-19,349,764
2021	$21,243,184	$35,849,785	$3,794,694	$-14,606,601
2020	$22,111,339	$35,798,486	$2,689,693	$-13,687,147
2019	$20,121,906	$27,444,804	$2,491,879	$-7,322,898
2018	$15,734,290	$22,926,011	$4,750,397	$-7,191,721

Primary Healthcare Associates SC