DUKE UNIVERSITY AFFILIATED PHYSICIANS INC (EIN 561902501) - Form 990 Financial Analysis & Trantor Score

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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

Principal Officer

CRAIG T ALBANESE MD

Phone

9196688910

Tax Period

2023-07-01 to 2024-06-30

DUKE UNIVERSITY AFFILIATED PHYSICIANS INC, founded in 1994, is a major nonprofit in the Health Care sector that reported $230.5M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $282.9M exceeded revenue, resulting in a 23% operating deficit.

Mission

FOR ORGANIZATION'S MISSION STATEMENT TO PROVIDE COMMUNITY-BASED, HIGH QUALITY AND EFFICIENT PATIENT CARE THROUGH A COMPREHENSIVE PRIMARY CARE NETWORK THAT IS RESPONSIVE TO OUR COMMUNITY'S CHANGING HEALTHCARE NEEDS.

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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 $229,931,248

Investment Income $0

Other Revenue $519,884

TOTAL REVENUE $230,451,132

Expense Breakdown

Grants Paid $0

Salaries & Benefits $205,896,336

Fundraising Expenses $0

Program Expenses $239,295,484

Other Expenses $76,989,065

TOTAL EXPENSES $282,885,401

Year-over-Year Comparison

	2023	2022	Change
Revenue	$230,451,132	$201,029,518	+0.1%
Expenses	$282,885,401	$261,807,855	+0.1%
Net Income	$-52,434,269	$-60,778,337	-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

N/A

Employees

1754

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

$4,798,113

Total Directors

$5,719,035

Key Employees

$803,241

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS A OWENS MD	DIRECTOR/VICE PRESIDENT	0.10	Officer Director	$0	$93,163	$1,679,482
CRAIG T ALBANESE MD	PART YEAR DIRECTOR/PRESIDENT	0.10	Officer Director	$0	$56,373	$2,036,143
ROBERT N WILLIS	PART YEAR DIRECTOR/TREASURER	0.10	Officer Director	$0	$57,725	$793,666
RICHARD P SHANNON MD	PART YEAR DIRECTOR	0.10	Director	$0	$59,387	$1,209,744
LISA M GOODLETT	PART YEAR DIRECTOR/PART YEAR TREASURER	0.10	Officer Director	$0	$0	$0
LAURA HUFFMAN LOCKAMY	SECRETARY	0.10	Officer	$0	$48,900	$288,822
ELIZABETH LONG	CHIEF OPERATING OFFICER, DPC	60.00	Key Emp	$262,814	$49,415	$312,229
KEVIN SHAH MD	CHIEF MEDICAL OFFICER, DPC	40.00	Key Emp	$437,193	$53,819	$491,012
BRUCE T PEYSER MD	PHYSICIAN	40.00	Highest	$401,092	$50,231	$451,323
RUSHAD SHROFF	PHYSICIAN	40.00	Highest	$377,223	$62,778	$440,001
JOHN YEATTS	PHYSICIAN	40.00	Highest	$441,683	$58,311	$499,994
LAURA HARDIN-LEE	PHYSICIAN	40.00	Highest	$411,672	$55,174	$466,846
ALEXANDRE HUIN	PHYSICIAN	40.00	Highest	$377,641	$51,988	$429,629
WILLIAM J FULKERSON MD	FORMER OFFICER	0.00		$0	$47,253	$1,212,324
JOHN P MORDACH	FORMER DIRECTOR	0.00		$0	$45,537	$568,867
CHRISTY M GUDAITIS	FORMER OFFICER	0.00		$0	$57,496	$515,169
JOHN B ANDERSON JR MD	FORMER KEY EMPLOYEE	40.00		$212,654	$40,435	$253,089

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
2025	No data	No data	No data	No data
2024	$230,451,132	$282,885,401	$83,134,337	$-52,434,269
2023	$201,029,518	$261,807,855	$83,987,704	$-60,778,337
2022	$188,533,176	$237,222,495	$86,490,226	$-48,689,319
2021	$171,120,861	$229,367,693	$86,448,101	$-58,246,832
2020	$141,806,343	$185,425,376	$71,060,826	$-43,619,033
2019	$139,398,683	$167,283,720	$68,528,124	$-27,885,037
2018	$134,151,965	$145,926,577	$57,712,947	$-11,774,612

DUKE UNIVERSITY AFFILIATED PHYSICIANS INC