AMERICAN REGISTRY OF PATHOLOGY (EIN 521073470) - 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

1976

Legal Domicile

Principal Officer

GRESFORD GRAY

Phone

3015756343

Tax Period

2023-10-01 to 2024-09-30

AMERICAN REGISTRY OF PATHOLOGY, founded in 1976, is a small nonprofit that reported $554K in total revenue in fiscal year 2023. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 235% operating deficit.

Mission

THE AMERICAN REGISTRY OF PATHOLOGY IS A NON-PROFIT CORPORATION ESTABLISHED TO DELIVER MEDICAL AND SCIENTIFIC CAPABILITIES TO MILITARY AND CIVILIAN ORGANIZATIONS WORLDWIDE.

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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 $1,369,233

Investment Income $52,157

Other Revenue $-867,827

TOTAL REVENUE $553,563

Expense Breakdown

Grants Paid $0

Salaries & Benefits $841,673

Fundraising Expenses $0

Program Expenses $1,656,957

Other Expenses $1,010,841

TOTAL EXPENSES $1,852,514

Year-over-Year Comparison

	2023	2022	Change
Revenue	$553,563	$803,947	-0.3%
Expenses	$1,852,514	$1,421,866	+0.3%
Net Income	$-1,298,951	$-617,919	+1.1%

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

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

$421,268

Total Directors

$193,558

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED GORSTEIN MD	CHAIRMAN	5.00	Officer Director	$21,250	$0	$21,250
GRESFORD GRAY CPA MBA	AUDIT & FINANCE COMMITTEE CHAIR	5.00	Officer Director	$23,654	$0	$23,654
PETER BURGER MD	BOARD MEMBER	1.00	Director	$0	$0	$0
JASON HORNICK MD	BOARD MEMBER, CEO	40.00	Officer Director	$148,654	$0	$148,654
RONALD A DELELLIS MD	BOARD MEMBER	20.00	Officer Director	$0	$0	$0
JOHN TOMASZEWSKI	BOARD MEMBER	2.00	Director	$0	$0	$0
KAREN MANN	BOARD MEMBER	1.00	Director	$0	$0	$0
D SCOTT ROGERS	CFO, COO	20.00	Officer	$180,784	$46,926	$227,710
AMY GOLDENBERG	DIRECTOR OF PUBLICATIONS THRU 9/2024	40.00	Highest	$137,247	$6,780	$144,027

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	$553,563	$1,852,514	$1,405,282	$-1,298,951
2023	$803,947	$1,421,866	$2,003,029	$-617,919
2022	$1,732,074	$1,595,855	$2,851,031	$136,219
2021	$1,614,624	$1,580,568	$2,932,614	$34,056
2020	$988,593	$1,441,514	$2,841,871	$-452,921
2019	$3,397,476	$3,819,531	$4,628,872	$-422,055
2018	$15,676,140	$15,776,476	$5,160,092	$-100,336

AMERICAN REGISTRY OF PATHOLOGY