Great Lakes Physician Practice PC

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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

2014

Legal Domicile

Principal Officer

Ross Peterson MD

Phone

4126472345

Tax Period

2024-07-01 to 2025-06-30

Great Lakes Physician Practice PC, founded in 2014, is a mid-sized nonprofit in the Health Care sector that reported $44.5M in total revenue in fiscal year 2024. Expenses of $62.0M exceeded revenue, resulting in a 39% operating deficit.

Mission

GREAT LAKES PHYSICIAN PRACTICE, P.C. OPERATES MEDICAL PRACTICES THAT PROVIDE MEDICAL SERVICES PRIMARILY TO THE RESIDENTS OF CHAUTAUQUA COUNTY NEW YORK AND SURROUNDING AREAS. THE AREAS IT SERVES ARE LOCATED IN FEDERALLY-DESIGNATED MEDICALLY UNDERSERVED AREAS. SEE SCHEDULE O.

Program Service Accomplishments

Program 1

Expenses: $62,014,070 Revenue: $44,422,067

PART III STATEMENT OF PROGRAM SERVICES

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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 (2024)

Revenue Breakdown

Contributions & Grants $57,055

Program Service Revenue $44,422,067

Investment Income $2,164

Other Revenue $0

TOTAL REVENUE $44,481,286

Expense Breakdown

Grants Paid $0

Salaries & Benefits $51,396,303

Fundraising Expenses $0

Program Expenses $62,014,070

Other Expenses $10,617,767

TOTAL EXPENSES $62,014,070

Year-over-Year Comparison

	2024	2023	Change
Revenue	$44,481,286	$42,333,878	+0.1%
Expenses	$62,014,070	$58,400,347	+0.1%
Net Income	$-17,532,784	$-16,066,469	+0.1%

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

N/A

Employees

379

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

$304,000

Total Directors

$2,791,432

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James J Cirbus MD	Director	40.0	Director	$1,381,654	$61,322	$1,442,976
James P Campion MD	Physician	40.0	Highest	$1,323,517	$66,819	$1,390,336
Keith Kulju MD	Physician	40.0	Highest	$925,769	$70,589	$996,358
Brian A Mata MD	Physician	40.0	Highest	$799,508	$66,468	$865,976
Anthony Bartholomew MD	Physician	40.0	Highest	$688,772	$62,100	$750,872
Srinivas Bommireddipalli MD	Physician	40.0	Highest	$641,764	$54,349	$696,113
Kiran Kandukurti MD	FORMER DIRECTOR	0.0		$587,151	$47,950	$635,101
John N LaMancuso MD	Director	40.0	Director	$405,853	$50,519	$456,372
Lynn Rupp	Director	1.0	Director	$0	$46,781	$439,604
Kaitlin Ames MD	Director	40.0	Director	$281,096	$34,551	$315,647
Francis Foti MD R 062025	President	0.0	Officer	$0	$55,755	$304,000
Devone Pepple	Director	40.0	Director	$98,601	$38,232	$136,833
Amy Arrington	Director	1.0	Director	$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
2025	$44,481,286	$62,014,070	$14,992,695	$-17,532,784
2024	$42,333,878	$58,400,347	$15,884,369	$-16,066,469
2023	$39,755,796	$52,834,746	$12,948,762	$-13,078,950
2022	$33,003,744	$45,566,993	$14,269,559	$-12,563,249
2021	$34,921,259	$45,562,724	$13,744,099	$-10,641,465
2020	$29,596,794	$41,706,096	$11,352,801	$-12,109,302
2019	$27,689,789	$38,223,510	$12,585,015	$-10,533,721
2018	$25,311,933	$33,028,715	$13,148,055	$-7,716,782