Houston Academy of Medicine

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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

1915

Legal Domicile

Principal Officer

Sean Murphy

Phone

7135244267

Tax Period

2023-01-01 to 2023-12-31

Houston Academy of Medicine, founded in 1915, is a community nonprofit in the Education sector that reported $9.7M in total revenue in fiscal year 2023. Expenses of $9.3M left a modest 4% surplus.

Mission

The mission of the Houston Academy of Medicine is to support the community service, education, scientific, and charitable programs for physicians, their patients, and the community at large in Harris County.

Program Service Accomplishments

Program 1

Expenses: $7,194,980 Revenue: $43,387

The Texas Medical Center Library (TMC Library) provides books, periodicals, librarian services, rare books, automated information services, and photocopying. The library was open 89 hours per week...

The Texas Medical Center Library (TMC Library) provides books, periodicals, librarian services, rare books, automated information services, and photocopying. The library was open 89 hours per week during 2023. It served 96,518 visitors.

Program 2

Expenses: $894,388

Community health and medical projects: The Academy supports the Greater Houston community by making contributions to the John P. McGovern Museum of Health and Medical Science and providing education on a variety of health-related topics including trauma safety and bike helmets. The Academy also provides support to EMS units.

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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 $8,309,411

Program Service Revenue $43,387

Investment Income $1,285,408

Other Revenue $53,606

TOTAL REVENUE $9,691,812

Expense Breakdown

Grants Paid $172,087

Salaries & Benefits $3,768,937

Fundraising Expenses $27,687

Program Expenses $8,089,368

Other Expenses $5,362,123

TOTAL EXPENSES $9,303,147

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,691,812	$9,823,746	0.0%
Expenses	$9,303,147	$9,199,545	+0.0%
Net Income	$388,665	$624,201	-0.4%

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

Volunteers

300

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

$846,219

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dwane G Broussard MD	President	0.50	Officer Director	$0	$0	$0
Louise H Bethea MD	Vice President	0.50	Officer Director	$0	$0	$0
Hattie E Henderson MD	Treasurer	0.50	Officer Director	$0	$0	$0
Brian M Bruel MD	Secretary	0.50	Officer Director	$0	$0	$0
Katherine Prentice	TMC Library ED	40.00	Officer	$158,346	$26,625	$184,971
Dorothy Cobbs	TMC Library CFO	40.00	Officer	$148,429	$25,595	$174,024
Sean Murphy	Executive VP/CEO	20.00	Officer	$163,525	$33,152	$360,202
Gene Horr	Controller	20.00	Officer	$55,074	$16,874	$127,022
Beatriz Varman	Head of Research & Instruction	40.00	Highest	$101,112	$21,502	$122,614
Richard J Andrassy MD	Board Member	0.50	Director	$0	$0	$0
Ashok Balasubramanyam MD	Board Member	0.50	Director	$0	$0	$0
Daniel H Darmadi MD	Board Member	0.50	Director	$0	$0	$0
Chinelo Ikpeama Fangtang MD	Board Member	0.50	Director	$0	$0	$0
Sara Goel DO	Board Member	0.50	Director	$0	$0	$0
Robert E Jackson MD	Board Member	0.50	Director	$0	$0	$0
Yvonne Kew MD	Board Member	0.50	Director	$0	$0	$0
Rashmi Kudesia MD	Board Member	0.50	Director	$0	$0	$0
Felicity L Mack MD	Board Member	0.50	Director	$0	$0	$0
Ankur D Mehta DO	Board Member	0.50	Director	$0	$0	$0
Terry S Newman MD	Board Member	0.50	Director	$0	$0	$0
Stacy L Norrell MD	Board Member	0.50	Director	$0	$0	$0
Eddie L Patton Jr MD	Board Member	0.50	Director	$0	$0	$0
Tal Raphaeli MD	Board Member	0.50	Director	$0	$0	$0
Elizabeth M Rebello MD	Board Member	0.50	Director	$0	$0	$0
Elenita L Rosado MD	Board Member	0.50	Director	$0	$0	$0
Mina K Sinacori MD	Board Member	0.50	Director	$0	$0	$0
Kozhaya C Sokhon MD	Board Member	0.50	Director	$0	$0	$0
Stephen J Spann MD	Board Member	0.50	Director	$0	$0	$0
George W Williams II MD	Board Member	0.50	Director	$0	$0	$0
Naveed Zafar MD	Board Member	0.50	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	No data	No data	No data	No data
2023	$9,691,812	$9,303,147	$57,291,330	$388,665
2022	$9,823,746	$9,199,545	$50,596,349	$624,201
2021	$9,726,228	$9,230,724	$57,192,263	$495,504
2020	$9,607,484	$9,515,750	$52,416,862	$91,734
2019	$9,006,425	$8,994,291	$48,437,229	$12,134
2018	$8,822,423	$8,852,852	$42,837,116	$-30,429