PORTAGE LEGACY INC F/K/A PORTAGE HEALTH INC (EIN 381381288) - 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

1948

Legal Domicile

Principal Officer

JAMES BOGAN

Phone

9064878000

Tax Period

2022-07-01 to 2022-12-31

PORTAGE LEGACY INC F/K/A PORTAGE HEALTH INC, founded in 1948, is a micro nonprofit that reported $465K in total revenue in fiscal year 2022. Revenue fell 10551% from the prior year — a significant decline worth monitoring.

Mission

THE ORGANIZATION CEASED HOSPITAL OPERATIONS AS OF DECEMBER 1, 2013. CURRENT ORGANIZATION IS OPERATING AS A RUNOUT CORPORATION TO SETTLE ANY RECEIVABLE/LIABILITIES THAT WERE NOT PURCHASED BY LIFEPOINT HOSPITALS AND DISTRIBUTE REMAINING ASSETS TO ORGANIZATIONS THAT CONTRIBUTE TO THE HEALTH OF THE COMMUNITY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $-464,638

Other Revenue $0

TOTAL REVENUE $-464,638

Expense Breakdown

Grants Paid $1,555,540

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,555,540

Other Expenses $12,815

TOTAL EXPENSES $1,568,355

Year-over-Year Comparison

	2022	2021	Change
Revenue	$-464,638	$4,446	-105.5%
Expenses	$1,568,355	$324,389	+3.8%
Net Income	$-2,032,993	$-319,943	+5.4%

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

Independent Members

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES BOGAN	PRESIDENT	N/A	Officer Director	$0	$0	$0
SUSAN BINKLEY	TREASURER	N/A	Officer Director	$0	$0	$0
TIM BARONI	DIRECTOR	N/A	Director	$0	$0	$0
NICHOLAS STEVENS	DIRECTOR	N/A	Director	$0	$0	$0
MICHELE GAGNON	DIRECTOR	N/A	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
2022	$-464,638	$1,568,355	No data	$-2,032,993
2020	$5,185	$929,805	$2,189,048	$-924,620
2019	$10,330	$100,476	$2,928,640	$-90,146
2018	$757,674	$659,717	$3,097,694	$97,957

PORTAGE LEGACY INC F/K/A PORTAGE HEALTH INC