HealthAccess 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

1983

Legal Domicile

Principal Officer

Andrew K Zukowski

Phone

2528475129

Tax Period

2023-10-01 to 2024-09-30

HealthAccess Inc, founded in 1983, is a mid-sized nonprofit that reported $10.9M in total revenue in fiscal year 2023. Expenses of $20.1M exceeded revenue, resulting in a 84% operating deficit.

Mission

TO IMPROVE THE HEALTH AND WELL-BEING OF EASTERN NORTH CAROLINA.

Program Service Accomplishments

Program 1

Expenses: $12,777,410 Revenue: $5,387,007

ECU HEALTH HOME HEALTH PROVIDES IN-HOME CARE SERVICES FROM THE GREENVILLE, WASHINGTON, KENANSVILLE, AND WINDSOR AGENCY LOCATIONS. COMMUNITY ALTERNATIVES PROGRAM (CAP) SERVICES ARE PROVIDED FROM THE WINDSOR AND KENANSVILLE AGENCY LOCATIONS. DURING THE 2024 FISCAL YEAR, HOME HEALTH SERVICES WERE PROVIDED TO 3,049 PATIENTS FOR A TOTAL OF 34,240 VISITS WHILE MAINTAINING A 3.5 QUALITY STAR RATING AT THE GREENVILLE, WINDSOR AND KENANSVILLE LOCATIONS AND A 3.0 AT THE WASHINGTON LOCATION. GREENVILLE AND WINDSOR RECEIVED A 4 PATIENT EXPERIENCE STAR RATING AND KENANSVILLE AND WASHINGTON RECEIVED 5 PATIENT EXPERIENCE STAR RATING.

Program 2

Expenses: $4,164,922 Revenue: $4,289,670

ECU HEALTH HOSPICE PROVIDES HOME HOSPICE SERVICES FROM THE GREENVILLE, KENANSVILLE, AND AHOSKIE LOCATIONS. INPATIENT HOSPICE SERVICES ARE PROVIDED DIRECTLY BY THE AGENCY AT THE 8-BED FACILITY LOCATED IN GREENVILLE. DURING THE 2024 FISCAL YEAR, HOSPICE CARE WAS PROVIDED TO 909 PATIENTS FOR A TOTAL OF 16,245 DAYS IN OUR 22 COUNTY SERVICE AREA. AHOSKIE, GREENVILLE AND INPATIENT RECEIVED A 4 EXPERIENCE STAR RATING.

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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 $9,676,677

Investment Income $1,242,042

Other Revenue $0

TOTAL REVENUE $10,918,719

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,510,322

Fundraising Expenses $0

Program Expenses $16,942,332

Other Expenses $4,589,883

TOTAL EXPENSES $20,100,205

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,918,719	$10,680,796	+0.0%
Expenses	$20,100,205	$18,189,388	+0.1%
Net Income	$-9,181,486	$-7,508,592	+0.2%

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

N/A

Employees

197

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

$1,575,388

Total Directors

$1,745,901

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL WALDRUM MD	CHAIRMAN	2.0	Director	$0	$368,120	$1,745,901
ANDY ZUKOWSKI	SECRETARY/TREASURER	2.0	Officer	$0	$158,895	$906,157
DAN DRAKE	PRESIDENT	2.0	Officer	$0	$210,180	$669,231
DAVID S HUGHES	FORMER SECRETARY/TREAURER	0.0		$0	$7,799	$275,186
JACQUELYN MUSIC	ADMIN, HOME HEALTH & HOSPICE	40.0	Highest	$166,250	$51,340	$217,590
JAMES ZAMBARDINO	DIR, HOME BASED SERVICES	40.0	Highest	$167,074	$36,179	$203,253
THADDIS LOCKLAIR	SUPV, CLINICAL REHAB THERAPY	40.0	Highest	$118,140	$69,764	$187,904
LOUIS HOHMAN	PHYSICAL THERAPIST	40.0	Highest	$121,047	$17,273	$138,320
DENNIS NEIL	PHYSICAL THERAPIST	40.0	Highest	$110,520	$15,010	$125,530

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	$10,918,719	$20,100,205	$5,276,257	$-9,181,486
2023	$10,680,796	$18,189,388	$7,530,848	$-7,508,592
2022	$13,547,011	$19,670,251	$7,143,294	$-6,123,240
2021	$14,508,068	$21,364,422	$6,754,308	$-6,856,354
2020	$19,243,808	$22,263,720	$7,112,618	$-3,019,912
2019	$11,576,492	$23,655,475	$5,753,148	$-12,078,983
2018	$16,283,377	$26,633,387	$7,118,047	$-10,350,010