ASPIRUS 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

1979

Legal Domicile

Principal Officer

MATTHEW HEYWOOD

Phone

7158472250

Tax Period

2022-07-01 to 2023-06-30

ASPIRUS INC, founded in 1979, is a mid-sized nonprofit in the Health Care sector that reported $24.2M in total revenue in fiscal year 2022. Revenue surged 219% from the prior year, signaling strong growth momentum. The organization ran a surplus of $23.3M, a strong 96% operating margin.

Mission

WE HEAL PEOPLE, PROMOTE HEALTH, AND STRENGTHEN COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $261,147 Revenue: $654,070

TO PROVIDE HEALTH CARE SERVICES TO PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. ASPIRUS, INC. PROVIDES CARE TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS COMMUNITY CARE POLICY WITHOUT CHARGE. THE ESTIMATED COST OF PROVIDING CARE UNDER THIS POLICY AGGREGATED TO APPROXIMATELY $10,584,000 IN FY2023. (THIS COST INCLUDES ASPIRUS, INC. AND ITS CONSOLIDATED AFFILIATES.) THE COST WAS CALCULATED BY MULTIPLYING THE RATIO OF COST TO GROSS CHARGES FOR ASPIRUS, INC. BY THE GROSS UNCOMPENSATED CHARGES ASSOCIATED WITH PROVIDING THE COMMUNITY CARE.AS PART OF ITS PATIENT SERVICES, ASPIRUS, INC. ALSO PROVIDES SERVICES TO BENEFICIARIES OF THE MEDICARE AND MEDICAID PROGRAMS WHICH OFTEN REIMBURSE THE ORGANIZATION BASED ON PREDETERMINED FEE SCHEDULES WHICH ARE OFTEN BELOW THE COST OF PROVIDING CARE TO THESE INDIVIDUALS. THESE PROGRAMS PROVIDE HEALTH CARE SERVICES TO A LARGE PORTION OF THE ELDERLY, LOW INCOME, AND DISABLED MEMBERS OF THE COMMUNITY WHO NEED ACCESS TO HIGH QUALITY CARE.

Program 2

ASPIRUS, INC. PROVIDES CORPORATE FUNCTIONAL SUPPORT SERVICES TO THE AFFILIATED ENTITIES IN ORDER TO ALLOW THOSE ENTITIES TO FOCUS ON THEIR MISSIONS OF PROVIDING HEALTH CARE SERVICES TO PATIENTS...

ASPIRUS, INC. PROVIDES CORPORATE FUNCTIONAL SUPPORT SERVICES TO THE AFFILIATED ENTITIES IN ORDER TO ALLOW THOSE ENTITIES TO FOCUS ON THEIR MISSIONS OF PROVIDING HEALTH CARE SERVICES TO PATIENTS REGARDLESS OF THEIR ABILITY TO PAY.

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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 $992,904

Program Service Revenue $1,535,642

Investment Income $21,601,212

Other Revenue $29,621

TOTAL REVENUE $24,159,379

Expense Breakdown

Grants Paid $261,147

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $261,147

Other Expenses $615,574

TOTAL EXPENSES $876,721

Year-over-Year Comparison

	2022	2021	Change
Revenue	$24,159,379	$7,575,609	+2.2%
Expenses	$876,721	$-2,311,693	-1.4%
Net Income	$23,282,658	$9,887,302	+1.4%

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

2319

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

$4,201,631

Total Directors

$3,177,220

Key Employees

$6,036,226

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY J STRASSER	BOARD MEMBER (THRU 09/22)	1.00	Director	$11,667	$0	$11,667
BRIAN J PRUNTY	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID M HECK	BOARD MEMBER	1.00	Director	$8,750	$0	$8,750
JOSEPH V FONTI	BOARD MEMBER	1.00	Director	$8,750	$0	$8,750
GRAHAM CHIP COURTNEY	BOARD MEMBER	1.00	Director	$17,500	$0	$17,500
SHERRI L LEMMER	SECRETARY/TREASURER	1.00	Officer Director	$11,667	$0	$11,667
NOEL DEEP MD	BOARD MEMBER/PHYSICIAN	1.00	Director	$0	$57,774	$602,717
KATHY KELSEY FOLEY	VICE CHAIR	1.00	Officer Director	$11,667	$0	$11,667
MATTHEW HEYWOOD	PRESIDENT & CEO ASPIRUS	50.00	Officer Director	$1,799,938	$311,110	$2,111,048
RICHARD V POIRIER	CHAIR	1.00	Officer Director	$11,667	$0	$11,667
CHARLIE ZANAYED	BOARD MEMBER (THRU 09/22)	1.00	Director	$0	$0	$0
NOEL SONNEK MD	BOARD MEMBER/PHYSICIAN (THRU 09/22)	1.00	Director	$341,071	$40,716	$381,787
JEANNIE WORDEN	BOARD MEMBER	1.00	Director	$0	$0	$0
SIDNEY SCZYGELSKI	SR. VP OF FINANCE/CFO	50.00	Officer	$1,911,464	$144,118	$2,055,582
JAMES MATHESON	SVP-CHIEF STRATEGY OFFICER	50.00	Key Emp	$539,401	$110,893	$650,294
DEBRA BALL	SVP & CHIEF HUMAN RESOURCES OFFICER	50.00	Key Emp	$458,839	$103,553	$562,392
CRYSTAL KIRSCHLING	VP-REGIONAL INTEGRATION OFFICER	50.00	Key Emp	$120,187	$48,718	$397,161
WILLIAM CARROLL	VP-INFORMATION TECHNOLOGY	50.00	Key Emp	$321,116	$49,427	$370,543
MICHAEL HOLZHUETER	SVP-GENERAL COUNSEL	50.00	Key Emp	$672,916	$123,676	$796,592
MATTHEW BREWER	VP-TERTIARY SERVICES	50.00	Key Emp	$290,861	$44,790	$335,651
JESSE TISCHER	SVP & PRESIDENT-REGIONAL MARKETS	50.00	Key Emp	$781,575	$128,595	$910,170
TODD RICHARDSON	SVP & CHIEF INFO. OFF. (THRU 06/23)	50.00	Key Emp	$534,868	$104,438	$639,306
WILL FLETT	VP-FINANCE AWH & AI	20.00	Key Emp	$341,904	$55,615	$397,519
ERIC ANDERSON	SVP-SERVICE LINE & PATIENT EXP.	50.00	Key Emp	$519,926	$106,843	$626,769
SCOTT REMMICH	VP-CHIEF COMPLIANCE OFFICER	50.00	Key Emp	$304,493	$45,336	$349,829
STEVEN PHILLIPSON	DIRECTOR-REGIONAL MEDICAL DIRECTOR	40.00	Highest	$0	$61,306	$930,537
SUSAN SCHNEIDER	VP-SENIOR SYS. PHYSICIAN EXECUTIVE	40.00	Highest	$0	$39,761	$581,600
ROBYN SCHERTZ	VP-SENIOR SYS. PHYSICIAN EXECUTIVE	40.00	Highest	$0	$35,184	$520,167
DANIEL GUTMANN	DIRECTOR-REG. MED. DIRECTOR	40.00	Highest	$0	$19,355	$427,951
JENNIFER ENMAN-BOURGON	DIRECTOR-REG. MED. DIRECTOR	40.00	Highest	$0	$53,134	$418,148

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	No data	No data	No data	No data
2023	$24,159,379	$876,721	$991,277,969	$23,282,658
2022	$7,575,609	$-2,311,693	$605,601,756	$9,887,302
2021	$16,878,106	$-1,501,870	$800,608,275	$18,379,976
2020	$8,319,522	$-2,490,361	$617,844,625	$10,809,883
2019	$15,993,369	$-2,190,135	$402,216,154	$18,183,504
2018	$6,389,844	$-2,066,917	$346,871,018	$8,456,761