VERITY MEDICAL FOUNDATION (EIN 453691852) - 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

2011

Legal Domicile

Principal Officer

HOWARD GROBSTEIN

Phone

8185321020

Tax Period

2020-07-01 to 2021-06-30

VERITY MEDICAL FOUNDATION, founded in 2011, is a small nonprofit that reported $347K in total revenue in fiscal year 2020. Revenue fell 96% from the prior year — a significant decline worth monitoring. Expenses of $866K exceeded revenue, resulting in a 150% operating deficit.

Mission

VMF OFFERS MEDICAL, SURGICAL AND RELATED HEALTHCARE SERVICES FOR PEOPLE (SEE SCHEDULE O) OF ALL AGES AT COMMUNITY-BASED MULTI-SPECIALTY CLINICS LOCATED IN AREAS SERVED BY VHS HOSPITALS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $346,512

Investment Income $0

Other Revenue $0

TOTAL REVENUE $346,512

Expense Breakdown

Grants Paid $487,255

Salaries & Benefits $162,615

Fundraising Expenses $0

Program Expenses $811,281

Other Expenses $216,392

TOTAL EXPENSES $866,262

Year-over-Year Comparison

	2020	2019	Change
Revenue	$346,512	$9,649,410	-1.0%
Expenses	$866,262	$11,516,259	-0.9%
Net Income	$-519,750	$-1,866,849	-0.7%

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

$2,874,026

Total Directors

$3,686,779

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD ADCOCK - EX-OFFICIO	PRESIDENT & CEO (THRU 9/2020)	1.00	Officer Director	$0	$11,789	$2,171,620
ANTHONY ARMADA	SECRETARY (THRU 8/2020)	1.00	Officer Director	$0	$12,489	$702,406
TY CONNER	DIRECTOR (THRU 4/2021)	1.00	Director	$0	$26,623	$562,753
HOWARD GROBSTEIN	LIQUIDATING TRUSTEE (BEG 9/2020)	1.00	Officer Director	$0	$0	$0
JACK KROUSKUP	BOARD MEMBER (THRU 4/2021)	1.00	Director	$0	$0	$100,000
ANDREW PINES	BOARD MEMBER (THRU 4/2021)	1.00	Director	$0	$0	$75,000
TERRY BELMONT	BOARD MEMBER (THRU 4/2021)	1.00	Director	$0	$0	$75,000

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
2021	$346,512	$866,262	No data	$-519,750
2020	$9,649,410	$11,516,259	$1,211,002	$-1,866,849
2019	$107,929,287	$124,975,606	$11,212,847	$-17,046,319
2018	$142,968,395	$136,883,811	$26,946,885	$6,084,584

VERITY MEDICAL FOUNDATION