HUNTERDON PRIMARY 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

JESSICA CODJOE MD

Phone

9087886100

Tax Period

2024-01-01 to 2024-12-31

HUNTERDON PRIMARY CARE PC, founded in 2015, is a mid-sized nonprofit that reported $38.6M in total revenue in fiscal year 2024. Expenses of $44.6M exceeded revenue, resulting in a 16% 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 PRIMARY 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: $39,674,439 Revenue: $38,592,899

Expenses incurred in supporting the goals and objectives of Hunterdon Healthcare System, Inc. and its affiliates; a tax-exempt integrated healthcare delivery system. Hunterdon Primary Care, P.C.s...

Expenses incurred in supporting the goals and objectives of Hunterdon Healthcare System, Inc. and its affiliates; a tax-exempt integrated healthcare delivery system. Hunterdon Primary 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $38,592,899

Investment Income $0

Other Revenue $0

TOTAL REVENUE $38,592,899

Expense Breakdown

Grants Paid $0

Salaries & Benefits $20,190,870

Fundraising Expenses $0

Program Expenses $39,674,439

Other Expenses $24,428,292

TOTAL EXPENSES $44,619,162

Year-over-Year Comparison

	2024	2023	Change
Revenue	$38,592,899	$39,664,638	0.0%
Expenses	$44,619,162	$49,441,050	-0.1%
Net Income	$-6,026,263	$-9,776,412	-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

$1,703,292

Total Directors

$1,247,208

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID D SKILLINGE DO	TRST - VP MED PRAC (TERM 4/24)	50.0	Officer Director	$0	$27,116	$642,107
JESSICA CODJOE MD	TRUSTEE - CMO	50.0	Officer Director	$0	$21,180	$605,101
Mitchell Clarin md	PHYSICIAN	50.0	Highest	$462,763	$55,032	$517,795
Brett Kolpan md	PHYSICIAN	50.0	Highest	$412,790	$50,494	$463,284
Mitra Abessi md	PHYSICIAN	50.0	Highest	$431,109	$26,362	$457,471
NICOLENE M KUSHNER	COO	50.0	Officer	$0	$32,629	$456,084
John Douvris md	PHYSICIAN	50.0	Highest	$388,106	$52,173	$440,279
SUMIT AGARWAL md	PHYSICIAN	50.0	Highest	$393,063	$9,465	$402,528

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	$38,592,899	$44,619,162	$11,283,735	$-6,026,263
2023	$39,664,638	$49,441,050	$5,830,135	$-9,776,412
2022	$41,855,053	$47,741,793	$3,798,289	$-5,886,740
2021	$40,579,257	$34,998,913	$10,159,812	$5,580,344
2020	$33,769,829	$30,885,966	$5,898,727	$2,883,863