The Health Source Group

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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

1982

Legal Domicile

Phone

3147338000

Tax Period

2023-07-01 to 2024-06-30

The Health Source Group, founded in 1982, is a small nonprofit in the Health Care sector that reported $592K in total revenue in fiscal year 2023. Revenue surged 56% from the prior year, signaling strong growth momentum.

Mission

ROOTED IN THE LOVING MINISTRY OF JESUS AS HEALER, WE COMMIT OURSELVES TO SERVING ALL PERSONS WITH SPECIAL ATTENTION TO THOSE WHO ARE POOR AND VULNERABLE. OUR CATHOLIC HEALTH MINISTRY IS DEDICATED TO SPIRITUALLY-CENTERED, HOLISTIC CARE WHICH SUSTAINS AND IMPROVES THE HEALTH OF INDIVIDUALS AND COMMUNITIES. WE ARE ADVOCATES FOR A COMPASSIONATE AND JUST SOCIETY THROUGH OUR ACTIONS AND OUR WORDS.

Program Service Accomplishments

Program 1

Revenue: $592,078

The filing organization is a part of the Ascension Catholic Health Ministry. Ascension is a faith-based healthcare organization that delivers personalized, compassionate care to all, especially to...

The filing organization is a part of the Ascension Catholic Health Ministry. Ascension is a faith-based healthcare organization that delivers personalized, compassionate care to all, especially to those who need it the most. THE HEALTH SOURCE GROUP HOLDS A JOINT VENTURE FOR THE GENESYS HEALTH SYSTEM. THE JOINT VENTURE IS GENESYS PHO, LLC. Genesys PHO was founded with the mission to improve the health and well-being of patients served by our member providers and the communities in which they serve. As the market place continues to evolve and patients are becoming more directly engaged in the quality and level of their health care needs, Genesys PHO is assisting its participating providers to have the highest level of: - Clinical integration founded on evidence-based medicine; - Patient service levels that exceed expectations; - A seamless delivery system to promote ease of patient navigation; And they are recognized as having the highest quality for providing health care services.

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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 $592,078

Investment Income $0

Other Revenue $0

TOTAL REVENUE $592,078

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $0

TOTAL EXPENSES $0

Year-over-Year Comparison

	2023	2022	Change
Revenue	$592,078	$380,579	+0.6%
Expenses	N/A	N/A	N/A
Net Income	N/A	$380,579	N/A

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

$3,512,193

Total Directors

$2,555,848

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
CAROL L SCHMIDT	MINISTRY MARKET EXECUTIVE/PRESIDENT	Officer Director	$0	$93,945	$2,555,848
MICHAEL MCCULLOUGH	CFO, MINISTRY MARKET	Officer	$0	$41,393	$956,345
DOUGLAS TODD MYERS	FORMER OFFICER (END 3/2023)		$0	$12,783	$648,758
JONATHAN SAMUEL NALLI FACHE	FORMER OFFICER (END 12/2022)		$0	$28,253	$2,344,273

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	No data	No data	No data	No data
2024	$592,078	No data	$4,293,814	No data
2023	$380,579	No data	$3,701,736	No data
2022	$2,101,081	No data	$3,321,157	No data
2021	$235,431	No data	$1,220,076	No data
2018	$273,619	$840	$7,987,443	$272,779