Chesapeake Medical Group 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

1994

Legal Domicile

Phone

8044358661

Tax Period

2018-09-01 to 2019-08-31

Chesapeake Medical Group Inc, founded in 1994, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2018. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $2.9M exceeded revenue, resulting in a 146% operating deficit.

Mission

THE MISSION OF CHESAPEAKE MEDICAL GROUP, INC. (CMG) IS TO PROVIDE QUALITY, COMPASSIONATE, COST EFFECTIVE PRIMARY MEDICAL CARE SERVICES TO THE COMMUNITY AS A WHOLE IN A DEFINED GEOGRAPHIC AREA OF THE NORTHERN NECK AND MIDDLE PENINSULA OF VIRGINIA. THE COMPANY WILL PURSUE ITS MISSION THROUGH THE DEVELOPMENT AND MANAGEMENT OF ONE GROUP MEDICAL PRACTICE OPERATING AT MULTIPLE LOCATIONS WHICH ARE REASONABLY EQUIPPED AND EFFICIENTLY STAFFED BY COMPETENT CLINICAL AND ADMINISTRATIVE INDIVIDUALS. THE CORPORATION IS COMMITTED TO PROVIDING MEDICAL SERVICES WITHOUT REGARD TO THE PATIENTS' RACE, COLOR, CREED, NATIONAL ORIGIN, RELIGION OR DISABILITY AND WILL PROVIDE PRIMARY MEDICAL CARE TO ANY INDIVIDUAL WITH AN ACUTE INJURY OR ILLNESS WITHOUT REGARD TO THEIR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $1,183,784 Revenue: $2,673,890

During the fiscal year, Chesapeake Medical Group employed physicians and nurse practitioners who provided either family practice, pediatric or Surgical medical care. Chesapeake Medical Group policy is to provide care to any patient regardless of their ability to pay and accepts both current and new patients regardless of available insurance coverage.

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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 (2018)

Revenue Breakdown

Contributions & Grants $8,500

Program Service Revenue $1,165,683

Investment Income $0

Other Revenue $18,107

TOTAL REVENUE $1,192,290

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,074,437

Fundraising Expenses $0

Program Expenses $1,183,784

Other Expenses $859,974

TOTAL EXPENSES $2,934,411

Year-over-Year Comparison

	2018	2017	Change
Revenue	$1,192,290	$4,737,324	-0.7%
Expenses	$2,934,411	$8,867,609	-0.7%
Net Income	$-1,742,121	$-4,130,285	-0.6%

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

$2,842,221

Total Directors

$4,120,692

Key Employees

$807,309

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	CEO-BSV (End 07/19)	1.0	Officer Director	$0	$16,500	$1,852,330
N/A	Interim CEO - Richmond (Beg 07/19)	1.0	Officer Director	$0	$0	$0
N/A	President	3.5	Officer Director	$0	$0	$0
N/A	Chairman (End 12/18)	2.0	Officer Director	$0	$0	$0
N/A	Chairman (Beg 01/19)	2.0	Officer Director	$0	$0	$0
N/A	Board Member (End 03/19)	2.0	Director	$0	$148,793	$2,268,362
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member (Beg 08/19)	2.0	Director	$0	$0	$0
N/A	Board Member (Beg 08/19)	2.0	Director	$0	$0	$0
N/A	Board Member (End 12/18)	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member (End 12/18)	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Treasurer, CFO - Richmond Market	1.0	Officer	$0	$25,196	$683,182
N/A	Secretary (Beg 01/19)	2.0	Officer	$0	$42,470	$306,709
N/A	Secretary (End 01/19)	2.0	Officer	$0	$0	$0
N/A	SVP HR - Richmond (End 11/18)	1.0	Key Emp	$0	$43,292	$404,968
N/A	VP HR - Richmond (Beg 11/18)	1.0	Key Emp	$0	$38,572	$217,219
N/A	VP Patient Care Services	1.0	Key Emp	$0	$7,786	$185,122
N/A	Surgeon	50.0	Highest	$346,741	$21,994	$368,735
N/A	Primary Care Physician	50.0	Highest	$210,443	$26,499	$236,942
N/A	Primary Care Physician	50.0	Highest	$245,761	$40,476	$286,237
N/A	Primary Care Physician	50.0	Highest	$218,980	$26,435	$245,415
N/A	Internist	50.0	Highest	$274,468	$19,094	$293,562

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
2019	$1,192,290	$2,934,411	$1,985,039	$-1,742,121
2019	$374,225	$1,057,555	No data	$-683,330
2018	$4,737,324	$8,867,609	$4,173,612	$-4,130,285