HealthSpan Partners (EIN 463055925) - 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

2013

Legal Domicile

Phone

5139525000

Tax Period

2023-01-01 to 2023-12-31

HealthSpan Partners, founded in 2013, is a mid-sized nonprofit in the Health Care sector that reported $19.6M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. Net assets of $98.1M represent 60 months of operating reserves.

Mission

The promotion of health in a charitable manner by providing compassionate, high quality affordable healthcare to improve the health of the communities it serves, with emphasis on caring for the poor and underserved.

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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 $16,840,752

Investment Income $2,754,617

Other Revenue $0

TOTAL REVENUE $19,595,369

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $19,932,321

Other Expenses $19,932,738

TOTAL EXPENSES $19,932,738

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,595,369	$14,450,244	+0.4%
Expenses	$19,932,738	$15,315,188	+0.3%
Net Income	$-337,369	$-864,944	-0.6%

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

$5,682,780

Total Directors

$637,451

Key Employees

$1,618,365

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Board Vice Chair	3.0	Officer Director	$0	$0	$85,000
N/A	Board Chair	3.0	Officer Director	$0	$0	$135,000
N/A	BOARD MEMBER	1.0	Director	$0	$0	$75,000
N/A	BOARD MEMBER	1.0	Director	$0	$0	$70,000
N/A	Board Member	1.0	Director	$0	$0	$72,451
N/A	BOARD MEMBER	1.0	Director	$0	$0	$70,000
N/A	Board Member	1.0	Director	$0	$0	$70,000
N/A	BOARD MEMBER	1.0	Director	$0	$0	$60,000
N/A	Board Assistant Secretary	1.0	Officer	$0	$21,687	$136,438
N/A	BOARD SECRETARY	1.0	Officer	$0	$12,785	$262,892
N/A	CFO HealthSpan Partners, Treasurer	2.0	Officer	$0	$598,700	$2,732,719
N/A	President & CEO, HealthSpan Partners	2.0	Officer	$0	$480,287	$2,330,731
N/A	CIO - BSMH, HSP & RSFH (End 06/23)	12.5	Key Emp	$0	$46,355	$1,158,556
N/A	Vice President and Assistant General Counsel	2.0	Key Emp	$0	$50,761	$459,809
N/A	Former President & CEO, HealthSpan Partners	0.0		$0	$73,177	$3,574,352
N/A	Former CFO HealthSpan Partners, Treasurer	0.0		$0	$31,518	$230,562
N/A	Former Key, BSMH Chief Development Officer	0.0		$0	$26,131	$974,806
N/A	Former Asst. Secretary, BSMH Chief Legal Officer	0.0		$0	$337,038	$2,139,384
N/A	Former CFO HealthSpan Partners, Treasurer	0.0		$0	$20,307	$610,241

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	$19,595,369	$19,932,738	$618,385,475	$-337,369
2022	$14,450,244	$15,315,188	$604,858,233	$-864,944
2021	$13,692,166	$16,864,777	$545,519,633	$-3,172,611
2020	$999,016	$4,331,809	$782,569,661	$-3,332,793
2019	$7,953,598	$7,967,919	$267,317,511	$-14,321
2018	$8,342,817	$10,293,613	$250,077,312	$-1,950,796

HealthSpan Partners