Independent Care Group Plus Trust

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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

Phone

2017955500

Tax Period

2024-06-01 to 2025-05-31

Independent Care Group Plus Trust, founded in 2014, is a community nonprofit in the Mutual Benefit sector that reported $4.2M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $7.8M exceeded revenue, resulting in a 84% operating deficit.

Mission

PROVIDING AND MAINTAINING HEALTH BENEFITS OR OTHER BENEFITS AS MAY BE DETERMINED BY THE TRUSTEES, FOR THE BENEFITS OF PARTICIPANTS AND BENEFICIARIES

Program Service Accomplishments

Program 1

Expenses: $7,810,737 Revenue: $4,238,094

PROVIDING AND MAINTAINING HEALTH BENEFITS OR OTHER BENEFITS AS MAY BE DETERMINED BY THE TRUStEES, FOR THE BENEFITS OF PARTICIPANTS AND BENEFICIARIES

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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 $0

Program Service Revenue $4,238,094

Investment Income $0

Other Revenue $0

TOTAL REVENUE $4,238,094

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,810,737

Other Expenses $346,292

TOTAL EXPENSES $7,810,737

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,238,094	$5,812,495	-0.3%
Expenses	$7,810,737	$6,376,943	+0.2%
Net Income	$-3,572,643	$-564,448	+5.3%

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
Joe Rubinstein	Trustee	5.00	Director	$0	$0	$0
Beth Langsam	Secretary	1.00	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	$4,238,094	$7,810,737	$2,419,147	$-3,572,643
2024	$5,812,495	$6,376,943	$4,797,428	$-564,448
2023	$5,870,311	$8,802,583	$5,619,664	$-2,932,272
2022	$7,475,590	$6,117,385	$7,101,000	$1,358,205
2021	$8,106,184	$7,956,235	$6,129,866	$149,949
2020	$8,827,774	$9,110,433	$6,102,339	$-282,659
2019	$9,630,709	$8,725,368	$7,057,394	$905,341
2019	$9,212,871	$10,741,475	$3,477,680	$-1,528,604
2018	$9,212,871	$10,741,475	$5,006,284	$-1,528,604