THOREK MEMORIAL FOUNDATION

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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

1961

Legal Domicile

Principal Officer

MARIA PAPPAS

Phone

7739756710

Tax Period

2023-01-01 to 2023-12-31

THOREK MEMORIAL FOUNDATION, founded in 1961, is a small nonprofit that reported $404K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $92K, a strong 23% operating margin.

Mission

THOREK MEMORIAL FOUNDATION WAS CREATED TO PROVIDE SERVICE TO THE COMMUNITY AND TO PROMOTE AND FOSTER UNDERSTANDING OF VARIOUS HEALTH AND WELLNESS CONCERNS AFFECTING THE MEMBERS OF THE COMMUNITY. THE FOUNDATION WILL USE ITS RESOURCES TO IDENTIFY HEALTHCARE NEEDS, IMPROVE POPULATION HEALTH, AND ADDRESS OTHER NEEDS WITHIN THE COMMUNITY IT SERVES. THE FOUNDATION WILL PROVIDE FINANCIAL SUPPORT TO ORGANIZATIONS IN THE COMMUNITY TO ASSIST THEIR OPERATIONS, ACTIVITIES, AND FULFILL THEIR MISSIONS. THOREK MEMORIAL FOUNDATION WILL SPONSOR VARIOUS SCIENTIFIC, EDUCATIONAL, AND CHARITABLE ENDEAVORS THAT RESULT FROM THE IDENTIFICATION OF CERTAIN COMMUNITY HEALTH ISSUES. THOREK MEMORIAL FOUNDATION WILL ALSO SUPPORT AND ENRICH THOREK MEMORIAL HOSPITAL THROUGH VARIOUS EDUCATIONAL ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $300,000 Revenue: $0

THOREK MEMORIAL FOUNDATION PROVIDES GRANTS TO EDUCATIONAL AND CHARITABLE ENDEAVORS.

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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 $404,135

Other Revenue $0

TOTAL REVENUE $404,135

Expense Breakdown

Grants Paid $300,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $300,000

Other Expenses $12,607

TOTAL EXPENSES $312,607

Year-over-Year Comparison

	2023	2022	Change
Revenue	$404,135	$457,781	-0.1%
Expenses	$312,607	$51,686	+5.0%
Net Income	$91,528	$406,095	-0.8%

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

N/A

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

$648,458

Total Directors

$782,958

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWARD BUDD	SECRETARY/TREASURER	1.00	Officer Director	$0	$27,291	$648,458
MARIA PAPPAS	PRESIDENT	0.50	Officer Director	$0	$0	$0
MANJEET CHAWLA MD	DIRECTOR	0.50	Director	$0	$0	$104,500
JAGAN MOHAN MD	DIRECTOR - PART YEAR	0.50	Director	$0	$0	$30,000
PAMELA NUGENT	DIRECTOR	0.50	Director	$0	$0	$0
BHAGWAN JAIN MD	DIRECTOR	0.50	Director	$0	$0	$0
PETER KARAHALIOS	DIRECTOR	0.50	Director	$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
2024	No data	No data	No data	No data
2023	$404,135	$312,607	$12,181,159	$91,528
2022	$457,781	$51,686	$10,649,369	$406,095
2021	$745,010	$572,618	$12,521,547	$172,392
2020	$511,248	$359,812	$11,155,038	$151,436
2019	$469,055	$267,362	$10,291,027	$201,693
2018	$358,791	$105,249	$8,688,287	$253,542