ANC HEALTHCARE 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

1981

Legal Domicile

Principal Officer

NEIL LURIA

Phone

3219723585

Tax Period

2023-10-01 to 2024-09-30

ANC HEALTHCARE INC, founded in 1981, is a mid-sized nonprofit in the Health Care sector that reported $23.2M in total revenue in fiscal year 2023. Revenue surged 110% from the prior year, signaling strong growth momentum. The organization ran a surplus of $15.9M, a strong 69% operating margin.

Mission

THE ORGANIZATION'S MISSION IS TO OPERATE AN INTEGRATED HEALTH DELIVERY SYSTEM FOR THE BENEFIT OF THE RESIDENTS OF WESTERN NORTH CAROLINA. THE ORGANIZATION'S OPERATIONS CEASED DUE TO SALE OF A SUBSTANTIAL PORTION OF ITS ASSETS ON 2/1/19.

Program Service Accomplishments

Program 1

Expenses: $46,645 Revenue: $17,395,711

THE ENTITY SOLD THE OPERATING FACILITIES OF THE HEALTH SYSTEM AND A SUBSTANTIAL PORTION OF THE ASSETS, INCLUDING THOSE OF ITS SUBSIDIARIES, IN A PRIOR YEAR. THE ORGANIZATION CONTINUES TO MAINTAIN...

THE ENTITY SOLD THE OPERATING FACILITIES OF THE HEALTH SYSTEM AND A SUBSTANTIAL PORTION OF THE ASSETS, INCLUDING THOSE OF ITS SUBSIDIARIES, IN A PRIOR YEAR. THE ORGANIZATION CONTINUES TO MAINTAIN OVERSITE OF ITS SUBSIDIARIES DURING THE PROCESS OF LIQUIDATION AND EVENTUAL TERMINATION. CURRENT ACTIVITY INCLUDES WINDING DOWN THE REMAINING AFFAIRS OF THE HEALTH SYSTEM, INCLUDING COLLECTION AND SETTLEMENT OF OUTSTANDING RECEIVABLES AND LIABILITIES, AND DISTRIBUTION OF ASSETS. THE ENTITY IS IN THE PROCESS OF WINDING DOWN FOR EVENTUAL TERMINATION.

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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 $17,371,126

Investment Income $5,787,321

Other Revenue $24,585

TOTAL REVENUE $23,183,032

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $46,645

Other Expenses $7,249,534

TOTAL EXPENSES $7,249,534

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,183,032	$11,055,076	+1.1%
Expenses	$7,249,534	$4,779,267	+0.5%
Net Income	$15,933,498	$6,275,809	+1.5%

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

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN W GARRETT MD	CHAIR	2.00	Officer Director	$0	$0	$0
THOMAS MAHER	VICE CHAIR	2.00	Officer Director	$0	$0	$0
SUZANNE S DEFERIE	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY RANKIN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID WORLEY	DIRECTOR	1.00	Director	$0	$0	$0
NEIL LURIA	CEO/CHIEF WIND-DOWN OFFICE	10.00	Officer	$0	$0	$0
GREGORY HAGOOD	CHIEF TRANSITION OFFICER	2.00	Officer	$0	$0	$0
MEG FINNEGAN	VP HR	2.00	Officer	$0	$0	$0
KIRA ABRAMOVS	CFO & SECRETARY	20.00	Officer	$0	$0	$0
PAUL HOGAN	CONTROLLER	5.00	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	$23,183,032	$7,249,534	$126,505,390	$15,933,498
2023	$11,055,076	$4,779,267	$115,810,337	$6,275,809
2022	$7,749,888	$4,737,695	$111,723,890	$3,012,193
2021	$8,792,601	$190,604,377	$120,132,251	$-181,811,776
2020	$16,442,127	$667,824,576	$342,432,322	$-651,382,449
2019	$183,057,049	$866,863,288	$1,158,076,635	$-683,806,239
2018	$72,492,165	$42,718,845	$2,746,061,012	$29,773,320