RURAL HEALTH CARE 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

1977

Legal Domicile

Principal Officer

LAURA M SPENCER

Phone

3863280108

Tax Period

2023-12-01 to 2024-11-30

RURAL HEALTH CARE INC, founded in 1977, is a mid-sized nonprofit in the Health Care sector that reported $32.2M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $35.5M exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROVIDE COMPREHENSIVE PRIMARY HEALTH CARE AND PREVENTATIVE HEALTH SERVICES TO UNDERSERVED COMMUNITIES. TO SERVE INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $31,002,137 Revenue: $23,896,423

DURING THE 2023-2024 FISCAL YEAR RHCI SERVED 36,800 INDIVIDUAL PATIENTS, PROVIDING 91,565 MEDICAL ENCOUNTERS, 18,294 DENTAL ENCOUNTERS AND 7,660 MENTAL HEALTH ENCOUNTERS. IN ADDITION, 498 ENABLING...

DURING THE 2023-2024 FISCAL YEAR RHCI SERVED 36,800 INDIVIDUAL PATIENTS, PROVIDING 91,565 MEDICAL ENCOUNTERS, 18,294 DENTAL ENCOUNTERS AND 7,660 MENTAL HEALTH ENCOUNTERS. IN ADDITION, 498 ENABLING VISITS WERE PROVIDED TO OUR PATIENTS FOR HEALTH EDUCATION AND MEDICAL REFERRALS. OUR PHARMACIES DELIVERED 160,749 PRESCRIPTIONS TO RHCI PATIENTS. $1,575,972 IN SLIDING FEE DISCOUNTS WERE PROVIDED TO SELF-PAY PATIENTS TO OFFSET THE COST OF HEALTHCARE TO INDIVIDUALS WITH INCOME AT OR BELOW 200% OF THE FEDERAL POVERTY GUIDELINES. APPROXIMATELY 90% OF THE PATIENTS SERVED HAD INCOMES AT OR BELOW 200% OF THE FEDERAL POVERTY GUIDELINES AND 38% OF THE PATIENTS SERVED WERE UNINSURED.

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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 $8,323,269

Program Service Revenue $23,886,698

Investment Income $7,472

Other Revenue $9,725

TOTAL REVENUE $32,227,164

Expense Breakdown

Grants Paid $0

Salaries & Benefits $23,289,488

Fundraising Expenses $0

Program Expenses $31,002,137

Other Expenses $12,207,552

TOTAL EXPENSES $35,497,040

Year-over-Year Comparison

	2023	2022	Change
Revenue	$32,227,164	$34,669,252	-0.1%
Expenses	$35,497,040	$35,010,635	+0.0%
Net Income	$-3,269,876	$-341,383	+8.6%

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

363

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

$1,066,643

Total Directors

Key Employees

$241,435

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GILBERTO DEL CASTILLO-ESPANA	BOARD CHAIR UNTIL 02/26/2024	1.00	Officer Director	$0	$0	$0
SABRINA THOMAS	CHAIR	1.00	Officer Director	$0	$0	$0
KATHY DEAN	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
LASHONDA SIMMONS-WATSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
LILLIAN KEMP	BOARD MEMBER UNTIL 09/08/2024	1.00	Director	$0	$0	$0
CONSTANCE SCHNEIDER	BOARD MEMBER	1.00	Director	$0	$0	$0
BOB MORENO	BOARD TREASURER UNTIL 11/13/2024	1.00	Officer Director	$0	$0	$0
LUCIA VALDIVIA-SANCHEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
ELIZABETH FISHER	BOARD MEMBER	1.00	Director	$0	$0	$0
MOSES FLOYD	BOARD MEMBER	1.00	Director	$0	$0	$0
DONOVAN BARDIER	BOARD TREASURER AS OF 01/01/2024	1.00	Officer Director	$0	$0	$0
SELENA FOUNTAIN	BOARD MEMBER AS OF 11/25/2024	1.00	Director	$0	$0	$0
SHONDA WALLER	CPO AS OF 09/23/2024	1.00	Officer Director	$0	$0	$0
LAURA M SPENCER	CEO	40.00	Officer	$240,684	$44,981	$285,665
JOSEPH GIACOMO	CFO	40.00	Officer	$193,729	$36,590	$230,319
JEFF BOWMAN	COO	40.00	Officer	$193,607	$34,670	$228,277
ROBIN SWEAT	CHRO	40.00	Officer	$138,688	$37,787	$176,475
LARRY PEDERSON	CPO	20.00	Officer	$132,999	$12,908	$145,907
MICHAEL J VERNACCHIO	CMO	40.00	Key Emp	$204,128	$37,307	$241,435
THEODOSIOS SOLDATOS	PROVIDER	40.00	Highest	$265,174	$43,222	$308,396
MUHAMMAD USMANI	PROVIDER	40.00	Highest	$260,133	$42,395	$302,528
ANA SEIJAS	PROVIDER	40.00	Highest	$267,180	$51,458	$318,638
HEZEKIAH GEORGE OWOJUYIGBE	PROVIDER	40.00	Highest	$284,387	$49,797	$334,184
CHARLES BALBUENA	PROVIDER	40.00	Highest	$235,094	$30,665	$265,759

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	$32,227,164	$35,497,040	$19,015,490	$-3,269,876
2023	$34,669,252	$35,010,635	$22,572,151	$-341,383
2022	$34,718,922	$33,130,505	$22,422,392	$1,588,417
2021	$35,988,483	$32,481,384	$21,088,992	$3,507,099
2020	$29,477,517	$30,054,740	$20,504,757	$-577,223
2019	$29,098,995	$29,108,358	$15,807,579	$-9,363
2018	$29,132,698	$28,466,230	$15,657,102	$666,468