CONCORDIA CARE NETWORK (EIN 473508524) - 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

2015

Legal Domicile

Principal Officer

Keith Frndak

Phone

7243526200

Tax Period

2022-07-01 to 2023-06-30

CONCORDIA CARE NETWORK, founded in 2015, is a major nonprofit in the Diseases & Disorders sector that reported $125.5M in total revenue in fiscal year 2022. Revenue surged 726% from the prior year, signaling strong growth momentum. The organization ran a surplus of $110.6M, a strong 88% operating margin.

Mission

To provide executive level oversight, management and strategic planning for the non-profit home and community based entities that deliver quality home health services, hospice services, and supply needs in good faith, on behalf of those who entrust themselves to our care and to minister to the unique needs of each individual with respect, dignity and compassion.

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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 (2022)

Revenue Breakdown

Contributions & Grants $106,929,339

Program Service Revenue $6,069,166

Investment Income $85,680

Other Revenue $12,437,372

TOTAL REVENUE $125,521,557

Expense Breakdown

Grants Paid $10,513,167

Salaries & Benefits $9,940,000

Fundraising Expenses $0

Program Expenses $14,681,743

Other Expenses $-5,495,561

TOTAL EXPENSES $14,957,606

Year-over-Year Comparison

	2022	2021	Change
Revenue	$125,521,557	$15,194,286	+7.3%
Expenses	$14,957,606	$13,937,457	+0.1%
Net Income	$110,563,951	$1,256,829	+87.0%

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

105

Volunteers

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

$1,365,647

Total Directors

$2,999,131

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Keith Frndak - see Schedule O	Board Chair / President / CEO	5	Officer Director	$820,321	$33,159	$853,480
Brian Hortert - see Schedule O	Board Member	33	Director	$460,709	$34,296	$495,005
Martin Trettel - see Schedule O	Board Member	1	Director	$0	$26,985	$356,092
Michael Falbo - see Schedule O	Board Member / Treasurer / CFO	33	Officer Director	$258,521	$27,736	$286,257
Paul Brand - see Schedule O	Board Member	1	Director	$222,439	$14,459	$236,898
Tammy Young - see Schedule O	Board Member / Secretary	35	Officer Director	$212,480	$13,430	$225,910
Cristen Fiffik - see Schedule O	Board Member	43	Director	$94,182	$13,752	$216,795
Misty Ingram - see Schedule O	Board Member	37	Director	$147,379	$21,301	$168,680
Stacy Mathers - see Schedule O	Board Member	42	Director	$72,386	$10,388	$160,014
Meridith McGinnis	Director of IT	45	Highest	$125,453	$15,864	$141,317
Laurie Roy	VP of Human Resources until Aug 2022	0	Highest	$122,908	$9,371	$132,279
Amy Shortall-Cardillo	Director of Quality and Compliance	44	Highest	$115,874	$8,215	$124,089
Elizabeth Coe	Director of Business Operations	43	Highest	$113,378	$7,717	$121,095
Matthew Hooks	Director of Human Resources	45	Highest	$112,229	$7,850	$120,079
Peter Bodnar	Board Member until Dec 2022	1	Director	$0	$0	$0
Rev Dr Daniel Hahn	Board Member	1	Director	$0	$0	$0
James Limbaugh	Board Member	1	Director	$0	$0	$0
Gail Holzer	Board Member as of Jan 2023	1	Director	$0	$0	$0
Sherrie Purucker	Board Member as of Jan 2023	1	Director	$0	$0	$0
Bob Schmidt	Board Member as of Jan 2023	1	Director	$0	$0	$0
Jim Wolf	Board Member as of Jan 2023	1	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$125,521,557	$14,957,606	$135,743,645	$110,563,951
2022	$15,194,286	$13,937,457	$28,899,259	$1,256,829
2021	$12,696,162	$8,654,695	$27,553,840	$4,041,467
2020	$8,998,951	$8,000,404	$15,248,940	$998,547
2019	$7,346,862	$6,994,994	$11,645,010	$351,868
2018	$6,559,197	$7,537,690	$8,596,334	$-978,493

CONCORDIA CARE NETWORK