VIRGINIA HOSPITAL RESEARCH AND EDUCATION FOUNDATION (EIN 540801059) - 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

1964

Legal Domicile

Principal Officer

SEAN CONNAUGHTON

Phone

8049651201

Tax Period

2023-10-01 to 2024-09-30

VA HOSPITAL RESEARCH & EDUCATION FOUNDATION, founded in 1964, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2017. Revenue fell 31% from the prior year — a significant decline worth monitoring. Net assets of $5.3M represent 37 months of operating reserves.

Mission

RESEARCH AND EDUCATION IN THE HEALTH CARE INDUSTRY.

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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 $7,005,778

Program Service Revenue $711,244

Investment Income $190,876

Other Revenue $0

TOTAL REVENUE $7,907,898

Expense Breakdown

Grants Paid $5,001,031

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,813,276

Other Expenses $3,013,393

TOTAL EXPENSES $8,014,424

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,907,898	$8,145,300	0.0%
Expenses	$8,014,424	$7,651,851	+0.0%
Net Income	$-106,526	$493,449	-1.2%

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

N/A

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

$1,424,215

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
B ERIC DEATON	CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL I ELLIOTT	VICE CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM LUNN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
PETER M MULKEY	PAST CHAIR (THRU 04/24)	1.00	Officer Director	$0	$0	$0
MICHAEL J DACEY	DIRECTOR (FROM 04/24)	1.00	Director	$0	$0	$0
JOANNE M INMAN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL P MCDERMOTT	DIRECTOR (FROM 04/24)	1.00	Director	$0	$0	$0
STEPHEN J MOTEW	DIRECTOR (THRU 01/24)	1.00	Director	$0	$0	$0
MARK S NANTZ	DIRECTOR	1.00	Director	$0	$0	$0
KELLY CANNON	CEO	40.00	Officer	$0	$29,277	$181,041
SEAN T CONNAUGHTON	PRESIDENT	1.00	Officer	$0	$49,623	$978,101
ELIZABETH A MCNAMEE	CFHRO	1.00	Officer	$0	$42,302	$265,073

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	$7,907,898	$8,014,424	$6,417,566	$-106,526
2023	$8,145,300	$7,651,851	$7,693,566	$493,449
2022	$5,671,711	$6,004,972	$8,765,703	$-333,261
2021	$4,279,945	$4,392,493	$6,359,004	$-112,548
2020	$3,836,342	$4,115,156	$7,588,041	$-278,814
2019	$1,993,790	$2,142,909	$5,834,030	$-149,119
2018	$1,697,124	$1,819,475	$5,700,721	$-122,351

VIRGINIA HOSPITAL RESEARCH AND EDUCATION FOUNDATION