MIDWEST STONE INSTITUTE (EIN 431382746) - 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

1985

Legal Domicile

Principal Officer

JESSE SMITHHART

Phone

3148351549

Tax Period

2023-10-01 to 2024-09-30

MIDWEST STONE INSTITUTE, founded in 1985, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2023. The organization ran a surplus of $949K, a strong 29% operating margin.

Mission

PRIMARY PURPOSE IS TO MAKE GRANTS FOR RESEARCH AND EDUCATION, PROVIDE CHARITY CARE, AND TO EXPAND THE SERVICE AND KNOWLEDGE OF EXTRACORPOREAL SHOCKWAVE TREATMENTS AND MINIMALLY INVASIVE SURGERY.

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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 $1,525,036

Investment Income $1,202,675

Other Revenue $595,437

TOTAL REVENUE $3,323,148

Expense Breakdown

Grants Paid $128,811

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,619,266

Other Expenses $2,245,322

TOTAL EXPENSES $2,374,133

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,323,148	$3,497,154	0.0%
Expenses	$2,374,133	$2,206,397	+0.1%
Net Income	$949,015	$1,290,757	-0.3%

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

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
SAM BHAYANI MD	PRESIDENT/CHAIRMAN	1.00	Officer Director	$0	$0	$0
TIM BULLER	TREASURER	1.00	Officer Director	$0	$0	$0
RAJEN DOSHI MD	DIRECTOR	1.00	Director	$0	$0	$0
ZACHARY HAMILTON MD	DIRECTOR	1.00	Director	$0	$0	$0
JON BETTALE RN	DIRECTOR	1.00	Director	$0	$0	$0
JACKIE MARTIN MD	SECRETARY/DIRECTOR	1.00	Officer Director	$0	$0	$0
JEFFREY GLASER	DIRECTOR	1.00	Director	$0	$0	$0
JESSE SMITHHART	EXECUTIVE DIRECTOR	40.00	Officer	$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
2024	$3,323,148	$2,374,133	$35,524,208	$949,015
2023	$3,497,154	$2,206,397	$29,074,587	$1,290,757
2022	$2,332,408	$1,956,433	$26,304,202	$375,975
2021	$2,496,206	$1,878,745	$31,839,081	$617,461
2020	$1,354,400	$1,854,712	$27,673,044	$-500,312
2019	$1,970,950	$1,965,300	$26,064,402	$5,650
2018	$3,558,369	$2,051,539	$25,566,139	$1,506,830

MIDWEST STONE INSTITUTE