ASPIRUS MEDICAL GROUP - NORTHERN W… - Form 990 Financial Data

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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

1999

Legal Domicile

Principal Officer

MATTHEW HEYWOOD

Phone

7158472250

Tax Period

2022-07-01 to 2023-06-30

ASPIRUS MEDICAL GROUP - NORTHERN WISCONSIN INC, founded in 1999, is a small nonprofit in the Health Care sector that reported $265K in total revenue in fiscal year 2022. Revenue fell 96% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $243K, a strong 92% operating margin.

Mission

WE HEAL PEOPLE, PROMOTE HEALTH AND STRENGTHEN COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $21,772 Revenue: $106,420

TO PROVIDE HEALTH CARE AND EDUCATION SERVICES TO PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. THE COMPANY PROVIDES CARE TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS COMMUNITY CARE POLICY. THE...

TO PROVIDE HEALTH CARE AND EDUCATION SERVICES TO PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. THE COMPANY PROVIDES CARE TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS COMMUNITY CARE POLICY. THE CLINIC ALSO PROVIDES SERVICES TO BENEFICIARIES OF THE MEDICARE AND MEDICAID PROGRAMS WHICH OFTEN REIMBURSE THE CLINIC BASED ON PREDETERMINED FEE SCHEDULES WHICH ARE OFTEN BELOW THE COST OF PROVIDING CARE TO THESE INDIVIDUALS. THESE PROGRAMS REPRESENT A LARGE PORTION OF THE ELDERLY, LOW INCOME, AND DISABLED MEMBERS OF THE COMMUNITY WHO NEED ACCESS TO HIGH QUALITY CARE.

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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 $158,188

Program Service Revenue $106,420

Investment Income $13

Other Revenue $0

TOTAL REVENUE $264,621

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $21,772

Other Expenses $21,772

TOTAL EXPENSES $21,772

Year-over-Year Comparison

	2022	2021	Change
Revenue	$264,621	$7,492,728	-1.0%
Expenses	$21,772	$11,196,559	-1.0%
Net Income	$242,849	$-3,703,831	-1.1%

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

$5,750,241

Total Directors

$4,897,137

Key Employees

$3,892,143

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES M CYGAN MD	BOARD MEMBER/PHYSICIAN	1.00	Director	$0	$52,947	$986,807
JEFFREY WICKLANDER	(NV) BOARD MEMBER/PRES.-CENT. REG.	1.00	Officer Director	$0	$128,532	$840,737
ELIZABETH RENAKER-JANSEN DO	BOARD MEMBER/PHYSICIAN	1.00	Director	$0	$54,117	$793,356
JENNIFER REDMAN-SCHELL	(NV) BOARD MEMBER/SVP & PRES.-AMG	1.00	Officer Director	$0	$101,726	$742,874
LAWRENCE G LEIBERT MD	BOARD MEMBER/PHYSICIAN	1.00	Director	$0	$49,120	$510,930
TOU SHOUA LOR MD	BOARD MEMBER/PHYSICIAN	1.00	Director	$0	$50,262	$351,387
MICHAEL A UMLAND MD	BOARD MEMBER/PHYSICIAN	1.00	Director	$0	$54,919	$341,607
KRISTA SCHARER MD	BOARD MEMBER/PHYSICIAN (THRU 02/23)	1.00	Director	$0	$52,577	$329,439
KATHY KELSEY FOLEY	CHAIR (THRU 09/22)	1.00	Officer Director	$0	$0	$0
JEREMY A LEWITZKE	CHAIR	1.00	Officer Director	$0	$0	$0
KYLE N PAGE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CHAD H RADKE DO	SECRETARY/TREASURER (THRU 09/22)	1.00	Officer Director	$0	$0	$0
BRYAN BORRELL	BOARD MEMBER	1.00	Director	$0	$0	$0
MARCO A ESPINOZA	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW HEYWOOD	PRESIDENT & CEO ASPIRUS	2.00	Officer	$0	$311,110	$2,111,048
SIDNEY SCZYGELSKI	SENIOR VP OF FINANCE & CFO	2.00	Officer	$0	$144,118	$2,055,582
MICHAEL HOLZHUETER	SVP-GENERAL COUNSEL	2.00	Key Emp	$0	$123,676	$796,592
JAMES MATHESON	SVP-CHIEF STRATEGY OFFICER	2.00	Key Emp	$0	$110,893	$650,294
TODD RICHARDSON	SVP & CHIEF INFO. OFF. (THRU 06/23)	2.00	Key Emp	$0	$104,438	$639,306
ERIC ANDERSON	SVP-SERVICE LINE & PATIENT EXP.	2.00	Key Emp	$0	$106,843	$626,769
CONSTANCE BRADLEY	SVP-SYSTEM CHIEF NURSING EXECUTIVE	2.00	Key Emp	$0	$95,550	$597,582
SUSAN SCHNEIDER	VP=SENIOR SYS. PHYSICIAN EXECUTIVE	2.00	Key Emp	$0	$39,761	$581,600

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	$264,621	$21,772	$445,718	$242,849
2022	$7,492,728	$11,196,559	$470,034	$-3,703,831
2021	$54,059,880	$71,625,932	$32,980,422	$-17,566,052
2020	$67,294,269	$103,297,669	$31,576,459	$-36,003,400
2019	$83,898,501	$113,261,787	$28,364,866	$-29,363,286
2018	$65,968,336	$69,312,685	$32,532,492	$-3,344,349

ASPIRUS MEDICAL GROUP - NORTHERN WISCONSIN INC