HALIFAX MANAGEMENT SYSTEM INC (EIN 592664141) - 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

1984

Legal Domicile

Principal Officer

JEFF FEASEL

Phone

3862264560

Tax Period

2023-10-01 to 2024-09-30

HALIFAX MANAGEMENT SYSTEM INC, founded in 1984, is a community nonprofit that reported $6.3M in total revenue in fiscal year 2023. The organization ran a surplus of $2.9M, a strong 47% operating margin.

Mission

HALIFAX MANAGEMENT SYSTEMS (HMS)OWNS AND LEASES TO HALIFAX MEDICAL CENTER TWO AMBULATORY FACILITIES AND ONE HOSPITAL FACILITY PURCHASED IN 1998 FROM A THIRD-PARTY DEVELOPER. FACILITIES LOCATED IN ORMOND BEACH, FL AND ON THE MEDICAL CENTER'S MAIN CAMPUS IN DAYTONA BEACH, FL PROVIDE OUTPATIENT HOSPITAL SERVICES AND MEDICAL OFFICES. THE THIRD FACILITY, LOCATED IN PORT ORANGE, FL, IS AN 80 BED INPATIENT HOSPITAL.

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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 $4,925,923

Investment Income $1,334,216

Other Revenue $0

TOTAL REVENUE $6,260,139

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,316,291

Other Expenses $3,316,291

TOTAL EXPENSES $3,316,291

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,260,139	$5,824,761	+0.1%
Expenses	$3,316,291	$3,096,495	+0.1%
Net Income	$2,943,848	$2,728,266	+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

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
JEFF FEASEL	CEO / PRESID	1.00	Officer Director	$0	$0	$0
GLENN RITCHEY	VICE PRESIDE	1.00	Director	$0	$0	$0
RAFAEL RAMIREZ	TREASURER	1.00	Director	$0	$0	$0
ALBERTO TINEO	ASSISTANT SE	1.00	Officer Director	$0	$0	$0
STEVE MACH	MEMBER	1.00	Director	$0	$0	$0
BILL GRIFFIN	MEMBER	1.00	Director	$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	$6,260,139	$3,316,291	$54,495,360	$2,943,848
2023	$5,824,761	$3,096,495	$57,624,582	$2,728,266
2022	$5,255,000	$2,978,000	$59,608,000	$2,277,000
2021	$4,435,702	$2,508,392	$23,824,060	$1,927,310
2020	$12,404,846	$10,480,539	$24,537,592	$1,924,307
2019	$3,139,675	$951,626	$114,952,107	$2,188,049
2018	$2,972,273	$1,126,921	$51,692,206	$1,845,352

HALIFAX MANAGEMENT SYSTEM INC