First Choice Community Health Ctrs

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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

1978

Legal Domicile

Principal Officer

Kathryn L Ferguson

Tax Period

2023-12-01 to 2024-11-30

First Choice Community Health Ctrs, founded in 1978, is a community nonprofit in the Health Care sector that reported $3.1M in total revenue in fiscal year 2023. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $3.0M left a modest 5% surplus.

Mission

Providing healthcare to the underserved population of Harnett County NC and the surrounding area.

Program Service Accomplishments

Program 1

Expenses: $1,914,166

Providing healthcare to the underserved population of Harnett County NC and the surrounding area.

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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 $2,619,581

Program Service Revenue $452,233

Investment Income $50,577

Other Revenue $0

TOTAL REVENUE $3,122,391

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,229,101

Fundraising Expenses $0

Program Expenses $1,914,166

Other Expenses $1,731,114

TOTAL EXPENSES $2,960,215

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,122,391	$5,446,110	-0.4%
Expenses	$2,960,215	$2,639,238	+0.1%
Net Income	$162,176	$2,806,872	-0.9%

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

Key Employees

$216,564

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sheila Simmons	CEO	40.00	Key Emp	$216,564	$0	$216,564
Evon Morrison	Member	1.00	Director	$0	$0	$0
Mark Kim	Member	1.00	Director	$0	$0	$0
Cynthia Fisher	Member	1.00	Director	$0	$0	$0
Titichia M Jackson	Member	1.00	Director	$0	$0	$0
Eugene C Gonzales	Member	1.00	Director	$0	$0	$0
Shirely A McKoy	Member	1.00	Director	$0	$0	$0
Edward Fubara PhD	Vice Chair	1.00	Officer	$0	$0	$0
Kathryn L Ferguson	Chair	1.00	Officer	$0	$0	$0
Patricia A Walker Smith	Treasurer	1.00	Officer	$0	$0	$0
Raymond E Cole	Secretary	1.00	Officer	$0	$0	$0

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	$3,122,391	$2,960,215	$13,738,226	$162,176
2023	$5,446,110	$2,639,238	$14,398,811	$2,806,872
2022	$3,308,832	$3,791,577	$11,711,010	$-482,745
2021	$3,348,843	$3,806,024	$11,711,010	$-457,181
2020	$2,056,302	$2,199,078	$12,225,540	$-142,776
2020	$1,311,322	$2,377,088	$10,933,222	$-1,065,766
2018	$3,080,070	$2,188,900	$11,913,261	$891,170