HEALTHNET FOUNDATION 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

2018

Legal Domicile

Principal Officer

JOSEPH LACKEY

Phone

3179572013

Tax Period

2023-01-01 to 2023-12-31

HEALTHNET FOUNDATION INC, founded in 2018, is a small nonprofit in the Health Care sector that reported $167K in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $222K exceeded revenue, resulting in a 33% operating deficit.

Mission

THE MISSION OF HEALTHNET FOUNDATION, INC. IS TO PROVIDE ENDURING SUPPORT FOR HEALTHNET'S HEALTH CENTERS AND PROGRAMS THROUGH FUNDING AND CULTIVATION OF COMMUNITY FRIENDSHIPS, PARTNERS, AND DONORS.

Program Service Accomplishments

Program 1

Expenses: $103,252

THE HEALTHNET FOUNDATION'S VISION IS TO BE RECOGNIZED AS A TRUSTED PHILANTHROPIC LEADER IN THE COMMUNITIES WE SERVE THROUGH THE DELIVERY OF THE HIGHEST QUALITY DONOR SERVICES, CUSTOMIZED AND UNIQUE GRANT AND SCHOLARSHIP PROGRAMS, AND BOLD INITIATIVES THAT ADDRESS COMMUNITY HEALTHCARE NEEDS, TO INCLUDE: SOCIAL DETERMINANTS OF HEALTH. DURING 2023, THE FOUNDATION CONTINUED THE PATIENT ASSISTANCE FUND, AWARDED SCHOLARSHIPS, AND RAISED FUNDS FOR THE EMPLOYEE ASSISTANCE FUND.

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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 $215,374

Program Service Revenue $0

Investment Income $0

Other Revenue $-48,748

TOTAL REVENUE $166,626

Expense Breakdown

Grants Paid $70,689

Salaries & Benefits $0

Fundraising Expenses $170

Program Expenses $103,252

Other Expenses $151,507

TOTAL EXPENSES $222,366

Year-over-Year Comparison

	2023	2022	Change
Revenue	$166,626	$275,718	-0.4%
Expenses	$222,366	$107,758	+1.1%
Net Income	$-55,740	$167,960	-1.3%

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

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

$184,780

Total Directors

$415,492

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH JEWELL	CHAIRPERSON & PRESIDENT	2.00	Officer Director	$0	$0	$0
MARCUS DEBRO	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
TRACY GRADY	TREASURER	2.00	Officer Director	$0	$0	$0
KIM SMITH	SECRETARY	2.00	Officer Director	$0	$0	$0
JONATHAN LOWERY	BOARD MEMBER	2.00	Director	$0	$0	$0
YVONNE HARRINGTON	BOARD MEMBER	2.00	Director	$0	$0	$0
BRANTLEY WRIGHT	BOARD MEMBER	2.00	Director	$0	$0	$0
RICK DIAZ	BOARD MEMBER	2.00	Director	$0	$22,934	$415,492
DR STEVE THOMPSON	BOARD MEMBER	2.00	Director	$0	$0	$0
MISTY LEWIS	DIRECTOR	2.00	Officer	$0	$5,594	$85,280
CINDY BRUMGARNER	INTERIM DIRECTOR OF THE HEALTHNET FOUNDATION	2.00	Officer	$0	$11,289	$99,500

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	$166,626	$222,366	$536,171	$-55,740
2022	$275,718	$107,758	$491,180	$167,960
2021	$325,057	$245,713	$295,374	$79,344
2020	$203,432	$174,779	$170,592	$28,653