HEALTH WORKFORCE NEW YORK INC (EIN 471088653) - 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

2014

Legal Domicile

Principal Officer

RICHARD K MERCHANT

Phone

8005169693

Tax Period

2024-10-01 to 2025-09-30

HEALTH WORKFORCE NEW YORK INC, founded in 2014, is a community nonprofit in the Health Care sector that reported $1.8M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $2.0M exceeded revenue, resulting in a 11% operating deficit.

Mission

THE MISSION AND PRIMARY FOCUS OF HEALTH WORKFORCE NEW YORK, INC. (HWNY) IS THE DEVELOPMENT OF STRATEGIC PARTNERSHIPS TO DELIVER HEALTH WORKFORCE INITIATIVES AND SERVICES SPECIFIC TO PIPELINE PROGRAMMING, CLINICAL TRAINING SUPPORT, AND CONTINUING EDUCATION.

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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 $459,810

Program Service Revenue $1,302,657

Investment Income $2,798

Other Revenue $846

TOTAL REVENUE $1,766,111

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,555,002

Fundraising Expenses $0

Program Expenses $1,429,099

Other Expenses $407,972

TOTAL EXPENSES $1,962,974

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,766,111	$1,591,681	+0.1%
Expenses	$1,962,974	$1,674,832	+0.2%
Net Income	$-196,863	$-83,151	+1.4%

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

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

$364,004

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID W FELTON	CHAIR	1.00	Officer Director	$0	$0	$0
L THOMAS WOLFF	VICE CHAIR	1.00	Officer Director	$0	$0	$0
RODNEY BOULA	TREASURER	1.00	Officer Director	$0	$0	$0
TRICIA A PETER-CLARK	SECRETARY	1.00	Officer Director	$0	$0	$0
CHARLES N ASWAD	DIRECTOR	1.00	Director	$0	$0	$0
GERALD R CAYER	DIRECTOR	1.00	Director	$0	$0	$0
MANTOSH J DEWAN	DIRECTOR	1.00	Director	$0	$0	$0
PAUL DINGMAN	DIRECTOR	1.00	Director	$0	$0	$0
ALLISON AN DUGGAN	DIRECTOR	1.00	Director	$0	$0	$0
KENT N HALL	DIRECTOR	1.00	Director	$0	$0	$0
DAVID E ROGERS	DIRECTOR	1.00	Director	$0	$0	$0
HAZEL SANDERSON-MARCOUX	DIRECTOR	1.00	Director	$0	$0	$0
JORDAN WOOD	DIRECTOR	1.00	Director	$0	$0	$0
DAN YOUNG	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD K MERCHANT	CHIEF EXECUTIVE OFFICER	40.00	Officer	$163,915	$62,206	$226,121
CHRISTINA DELORENZO	CHIEF FINANCIAL OFFICER	40.00	Officer	$102,438	$35,445	$137,883

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	$1,766,111	$1,962,974	$573,454	$-196,863
2024	$1,591,681	$1,674,832	$735,923	$-83,151
2023	$1,342,623	$1,517,939	$746,495	$-175,316
2022	$1,237,390	$1,281,841	$714,480	$-44,451
2021	$978,544	$1,291,076	$702,985	$-312,532
2020	$1,083,003	$1,018,123	$1,346,919	$64,880
2019	$986,366	$902,354	$1,160,282	$84,012
2018	$944,089	$766,585	$1,020,235	$177,504

HEALTH WORKFORCE NEW YORK INC