DELAWARE ACADEMY OF MEDICINE INC

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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

1930

Legal Domicile

Principal Officer

KATHERINE SMITH MD

Phone

3027333900

Tax Period

2023-01-01 to 2023-12-31

DELAWARE ACADEMY OF MEDICINE INC, founded in 1930, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $1.5M exceeded revenue, resulting in a 13% operating deficit.

Mission

THE DELAWARE ACADEMY OF MEDICINE, INC. IS A PRIVATE, NONPROFIT ORGANIZATION FOUNDED IN 1930. OUR MISSION IS TO ENHANCE THE WELL-BEING OF OUR COMMUNITY THROUGH MEDICAL EDUCATION AND THE PROMOTION OF PUBLIC HEALTH. THIS MISSION IS ACCOMPOLISHED THROUGH PROFESSIONAL AND LAY EDUCATION, ADVOCACY EFFORTS, PARTNERSHIPS WITH LIKE MINDED INDIVIDUALS AND ENTITIES, AND WITH GUIDANCE FROM NATIONAL ORGANIZATIONS INCLUDING THE AMERCIAN PUBLIC HEALTH ASSOCIATION AND THE NATIONAL ACADEMY OF MEDICINE.

Program Service Accomplishments

Program 1

Expenses: $1,256,760 Revenue: $95,394

COMMUNITY EDUCATION & RESOURCES (CER): FOR THE PROFESSIONAL/CLINICAL HEALTHCARE COMMUNITY, THE DELAWARE ACADEMY OF MEDICINE, INC. PROVIDES TRAINING AND PROFESSIONAL DEVELOPMENT PROGRAMS ON A WIDE...

COMMUNITY EDUCATION & RESOURCES (CER): FOR THE PROFESSIONAL/CLINICAL HEALTHCARE COMMUNITY, THE DELAWARE ACADEMY OF MEDICINE, INC. PROVIDES TRAINING AND PROFESSIONAL DEVELOPMENT PROGRAMS ON A WIDE RANGE OF TOPICS; FROM SPECIALITY EDUCATION TO PUBLIC HEALTH EDUCATION TOPICS INCLUDING CULTURAL COMPETENCY, HEALTH LITERACY, AND TRENDS IN PUBLIC HEALTH PRACTICES. THE DELAWARE ACADEMY OF MEDICINE, INC. OPERATES THE IMMUNIZATION COALITION OF DELAWARE PROGRAM AND THE STROKE PREVENTION AND RESOURCES PROJECT. THE DELAWARE ACADEMY OF MEDICINE, INC. IS THE STATE OF DELAWARE AFFILIATE OF THE AMERICAN PUBLIC HEALTH ASSOCIATION, AND PUBLISHES THE DELAWARE JOURNAL OF PUBLIC HEALTH. IN ADDITION, THE DELAWARE ACADEMY OF MEDICINE, INC. OPERATES THE DELAWARE HEALTH FORCE INITIATIVE IN A COLLABORATIVE RELATIONSHIP WITH THE STATE OF DELAWARE AND THE DELAWARE HEALTH CARE COMMISSION.

Program 2

Expenses: $23,922 Revenue: $7,520

STUDENT FINANCIAL AID (SAF): THE STUDENT FINANCIAL AID PROGRAM OFFERED BY THE DELAWARE ACADEMY OF MEDICINE, INC. PROVIDES GENERAL ASSISTANCE LOANS TO DELAWARE RESIDENTS STUDYING MEDICINE AND...

STUDENT FINANCIAL AID (SAF): THE STUDENT FINANCIAL AID PROGRAM OFFERED BY THE DELAWARE ACADEMY OF MEDICINE, INC. PROVIDES GENERAL ASSISTANCE LOANS TO DELAWARE RESIDENTS STUDYING MEDICINE AND DENTISTRY.

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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 $1,100,467

Program Service Revenue $102,914

Investment Income $127,278

Other Revenue $2,084

TOTAL REVENUE $1,332,743

Expense Breakdown

Grants Paid $270,406

Salaries & Benefits $597,905

Fundraising Expenses $24,276

Program Expenses $1,280,682

Other Expenses $643,852

TOTAL EXPENSES $1,512,163

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,332,743	$1,759,887	-0.2%
Expenses	$1,512,163	$1,414,240	+0.1%
Net Income	$-179,420	$345,647	-1.5%

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

Total Directors

$152,927

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LYNN C JONES LFACHE	PRESIDENT	2.00	Officer Director	$0	$0	$0
STEPHEN C EPPES MD	PRESIDENT ELECT	2.00	Officer Director	$0	$0	$0
ANN PAINTER MSN RN	SECRETARY	2.00	Officer Director	$0	$0	$0
JEFFREY M COLE DDS MBA	TREASURER	2.00	Officer Director	$0	$0	$0
S JOHN SWANSON MD	IMMEDIATE PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID M BERCAW MD	DIRECTOR	2.00	Director	$0	$0	$0
SAUNDRA DELAUDER PHD	DIRECTOR	2.00	Director	$0	$0	$0
ERIC T JOHNSON MD	DIRECTOR	2.00	Director	$0	$0	$0
ERIN M KAVANAUGH MD	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH KELLY DDS	DIRECTOR	2.00	Director	$0	$0	$0
OMAR A KHAN MD MHS	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN W LITTLE MD PHD	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL J MEARA MD DMD	DIRECTOR	2.00	Director	$0	$0	$0
JOHN P PIPER DO	DIRECTOR	2.00	Director	$0	$0	$0
MEGAN L WERNER MD MPH	DIRECTOR	2.00	Director	$0	$0	$0
CHARMAINE WRIGHT MD MSHP	DIRECTOR	2.00	Director	$0	$0	$0
BARRY KAYNE	EMERITUS	1.00	Director	$0	$0	$0
JOSEPH KESTNER JR MD	EMERITUS	1.00	Director	$0	$0	$0
TIM GIBBS MPH	EXECUTIVE DIRECTOR	40.00	Director	$133,731	$19,196	$152,927
KATHERINE SMITH MD MPH	PROGRAM MANAGER	40.00	Highest	$110,004	$8,618	$118,622

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	$1,332,743	$1,512,163	$5,459,261	$-179,420
2022	$1,759,887	$1,414,240	$3,796,742	$345,647
2021	$554,424	$546,956	$3,589,427	$7,468
2020	$700,082	$451,280	$3,270,188	$248,802
2019	$423,487	$537,005	$2,833,791	$-113,518
2018	$501,357	$494,828	$2,537,819	$6,529