LIFENET HEALTH (EIN 521273592) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

RONY THOMAS

Phone

7574644761

Tax Period

2023-01-01 to 2023-12-31

LIFENET HEALTH, founded in 1982, is a major nonprofit in the Health Care sector that reported $418.6M in total revenue in fiscal year 2018. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $386.0M left a modest 8% surplus.

Mission

2 SENIOR EXECUTIVES RECEIVE MEMBERSHIPS TO THE VIRGINIA BEACH TOWN CENTER CLUB. THE CEO MAINTAINS A MEMBERSHIP TO THE TOWN POINT CLUB OF NORFOLK. NONTAXABLE COMPENSATION. OFFICERS AND KEY EMPLOYEES RECEIVE COMPENSATION UP AT A DETERMINED DOLLAR AMOUNT AND DISTRIBUTED NET OF TAX AT THIS DOLLAR THE CLUB MEMBERSHIPS WERE USED FOR BUSINESS PURPOSES AND TREATED AS FOR THE ACHIEVEMENT OF CERTAIN GOALS RESULTING IN AWARDS THAT ARE GROSSED AMOUNT.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $94,966

Program Service Revenue $532,431,988

Investment Income $2,178,710

Other Revenue $772,635

TOTAL REVENUE $535,478,299

Expense Breakdown

Grants Paid $136,202

Salaries & Benefits $172,272,725

Fundraising Expenses $0

Program Expenses $438,856,606

Other Expenses $347,838,287

TOTAL EXPENSES $520,247,214

Year-over-Year Comparison

	2023	2022	Change
Revenue	$535,478,299	$456,633,012	+0.2%
Expenses	$520,247,214	$443,032,293	+0.2%
Net Income	$15,231,085	$13,600,719	+0.1%

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

1680

Volunteers

400

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

$4,142,534

Total Directors

$3,703,780

Key Employees

$974,606

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR RONY THOMAS	CEO	40.00	Officer Director	$2,948,491	$569,789	$3,518,280
DR JOHN HERRE	CHAIRMAN	3.00	Officer Director	$27,500	$0	$27,500
DR GERALD BOWERS	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR JOHN CARDEA	VICE CHAIRMAN	2.00	Director	$11,500	$0	$11,500
REV JONATHAN BARTON	DIRECTOR	2.00	Director	$11,500	$0	$11,500
MRS LINDA CROSS	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR MARK REYNOLDS	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR LENNEAL HENDERSON	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR LEE RILEY	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR ADAM LANDSMAN	DIRECTOR	2.00	Director	$15,000	$0	$15,000
MRS ANN LANGE	DIRECTOR (END 11/11/23)	2.00	Director	$0	$0	$0
DR KEVIN BONNER	DIRECTOR	2.00	Director	$15,000	$0	$15,000
MRS YVONNE WILD	DIRECTOR	2.00	Director	$15,000	$0	$15,000
MR F BLAIR WIMBUSH	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR WILLIAM GREER	DIRECTOR (END 8/30/23)	2.00	Director	$0	$0	$0
MR J PHILIP JONES	VP/SECRETARY/CFO	40.00	Officer	$428,549	$168,205	$596,754
MR DOUG WILSON	EXECUTIVE VP	40.00	Key Emp	$830,337	$144,269	$974,606
MR DARRELL JESSEE	CHIEF COMMERCIAL OFFICER	40.00	Highest	$540,051	$111,121	$651,172
MR MICHAEL POOLE	EVP, GLOBAL OPERATIONS	40.00	Highest	$553,690	$134,489	$688,179
MR ALAN BORTNICK	SVP, ADMINISTRATION	40.00	Highest	$567,125	$161,538	$728,663
MR DANIEL OSBORNE	CHIEF GROWTH OFFICER	40.00	Highest	$589,595	$159,599	$749,194
MR MICHAEL PLEW	SVP, QUALITY & RC	40.00	Highest	$562,848	$61,027	$623,875

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	$535,478,299	$520,247,214	$637,718,043	$15,231,085
2022	$456,633,012	$443,032,293	$551,891,048	$13,600,719
2021	$455,372,311	$434,702,789	$516,500,222	$20,669,522
2020	$407,112,272	$376,365,281	$503,270,241	$30,746,991
2019	$441,142,112	$418,080,406	$434,579,803	$23,061,706
2018	$418,564,024	$386,000,217	$402,809,361	$32,563,807

LIFENET HEALTH