HUNTERDON SPECIALTY CARE 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

2015

Legal Domicile

Principal Officer

DAVID D SKILLINGE DO

Phone

9087886100

Tax Period

2023-01-01 to 2023-12-31

HUNTERDON SPECIALTY CARE PC, founded in 2015, is a mid-sized nonprofit in the Health Care sector that reported $28.7M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $47.2M exceeded revenue, resulting in a 64% operating deficit.

Mission

TO SUPPORT THE GOALS AND OBJECTIVES OF HUNTERDON HEALTHCARE SYSTEM, INC. AND ITS AFFILIATES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM. HUNTERDON SPECIALTY CARE, P.C.S ACTIVITIES AND CHARITABLE PURPOSES INCLUDE, WITHOUT LIMITATION, ACTIVITIES IN FURTHERANCE OF HUNTERDON MEDICAL CENTER; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT HOSPITAL AND BY DELIVERING COMPASSIONATE AND EXCEPTIONAL CARE THAT IMPROVES THE HEALTH OF THE COMMUNITY BY OFFERING COMMUNITY FOCUSED HEALTH IMPROVEMENT.

Program Service Accomplishments

Program 1

Expenses: $41,533,320 Revenue: $28,709,394

Expenses incurred in supporting the goals and objectives of Hunterdon Healthcare System, Inc. and its affiliates; a tax-exempt integrated healthcare delivery system. Hunterdon Specialty Care, P.C.s activities and charitable purposes include, without limitation, activities in furtherance of Hunterdon Medical Center; a related internal revenue code section 501(c)(3) tax-exempt hospital.

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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 $28,709,394

Investment Income $0

Other Revenue $0

TOTAL REVENUE $28,709,394

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,098,107

Fundraising Expenses $0

Program Expenses $41,533,320

Other Expenses $23,098,850

TOTAL EXPENSES $47,196,957

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,709,394	$24,301,402	+0.2%
Expenses	$47,196,957	$37,863,771	+0.2%
Net Income	$-18,487,563	$-13,562,369	+0.4%

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

N/A

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

$1,072,679

Total Directors

$664,968

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NEAL VARUGHESE MD	PHYSICIAN	50.0	Highest	$1,001,379	$2,550	$1,003,929
JEFFREY HARTFORD MD	PHYSICIAN	50.0	Highest	$910,928	$41,752	$952,680
SARAH QURESHI MD	PHYSICIAN	50.0	Highest	$839,146	$48,926	$888,072
SANDEEP BHARGAVA MD	PHYSICIAN	50.0	Highest	$670,703	$46,385	$717,088
JENNIFER MONTES MD	PHYSICIAN	50.0	Highest	$661,461	$38,932	$700,393
DAVID D SKILLINGE DO	TRUSTEE - VP MEDICAL PRACTICES	50.0	Officer Director	$0	$68,938	$664,968
NICOLENE M KUSHNER	COO	50.0	Officer	$0	$66,702	$407,711

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	$28,709,394	$47,196,957	$4,532,391	$-18,487,563
2022	$24,301,402	$37,863,771	$2,427,718	$-13,562,369
2021	$25,039,620	$26,965,138	$3,946,893	$-1,925,518
2020	$21,598,979	$26,233,370	$4,932,046	$-4,634,391
2019	$22,564,640	$34,586,880	$6,184,686	$-12,022,240
2018	$20,797,222	$29,309,907	$6,323,426	$-8,512,685