WATTS HEALTHCARE CORPORATION (EIN 753046480) - 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

2002

Legal Domicile

Principal Officer

BARRETT HATCHES PHD

Phone

3235683093

Tax Period

2023-01-01 to 2023-12-31

WATTS HEALTHCARE CORPORATION, founded in 2002, is a mid-sized nonprofit in the Health Care sector that reported $36.9M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

TO IMPROVE THE HEALTH AND WELL-BEING OF THE PEOPLE AND COMMUNITIES THAT WE SERVE BY ENSURING ACCESS TO COMPASSIONATE, QUALITY, CULTURALLY-SENSITIVE PREVENTIVE AND PRIMARY HEALTH CARE SERVICES.

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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 $16,996,338

Program Service Revenue $19,786,030

Investment Income $154,883

Other Revenue $0

TOTAL REVENUE $36,937,251

Expense Breakdown

Grants Paid $0

Salaries & Benefits $22,439,101

Fundraising Expenses $44,724

Program Expenses $29,246,502

Other Expenses $15,666,337

TOTAL EXPENSES $38,105,438

Year-over-Year Comparison

	2023	2022	Change
Revenue	$36,937,251	$39,596,154	-0.1%
Expenses	$38,105,438	$36,259,407	+0.1%
Net Income	$-1,168,187	$3,336,747	-1.4%

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

338

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

$532,070

Total Directors

Key Employees

$1,547,985

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REV DR JOE H WALLER	BOARD MEMBER	1.00	Director	$0	$0	$0
REV DR TICEY BROWN	BOARD MEMBER	1.00	Director	$0	$0	$0
DR OSAZUWA OMEDE	BOARD MEMBER	1.00	Director	$0	$0	$0
LINDA DANIELS	BOARD MEMBER	1.00	Director	$0	$0	$0
GLENN C FORD	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SARA HEALEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOAN HUGHES	BOARD MEMBER-RESIGNED	1.00	Director	$0	$0	$0
VICTOR CORTEZ	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
LILIBETH CASTANEDA	SECRETARY	1.00	Officer Director	$0	$0	$0
MATTIE SANDERS	TREASURER	1.00	Officer Director	$0	$0	$0
TAMIKA HENRY	BOARD MEMBER	1.00	Director	$0	$0	$0
SHANY VELA	BOARD MEMBER	1.00	Director	$0	$0	$0
RUDY JAIME	BOARD MEMBER	1.00	Director	$0	$0	$0
YOANA ESTRADA	BOARD MEMBER	1.00	Director	$0	$0	$0
HAREGEWOIN YOHANNES	CHIEF FINANCIAL OFFICER-RETIRED	40.00	Officer	$212,407	$25,636	$238,043
MICHAEL JOHNSON	CHIEF EXECUTIVE OFFICER-TERMINATED	40.00	Officer	$78,497	$7,730	$86,227
BARRET HATCHES PHD	ACTING CHIEF EXECUTIVE OFFICER	40.00	Officer	$206,131	$0	$206,131
EMMANUEL PARAKATI	CHIEF FINANCIAL OFFICER	40.00	Officer	$1,669	$0	$1,669
OLIVER BROOKS	CHIEF MEDICAL DIRECTOR	40.00	Key Emp	$315,506	$42,131	$357,637
VILMA GONZALEZ-BARRETO	CHIEF PHYSICIAN OB/GYN	40.00	Key Emp	$254,940	$37,765	$292,705
LYNN DEWGARDE	CHIEF PHYSICIAN PEDIATRICS	40.00	Key Emp	$227,897	$29,482	$257,379
REGINALD MOORE	DIRECTOR OF DENTAL & ENVIR OF CARE	40.00	Key Emp	$212,253	$35,349	$247,602
OLUSHEYI LAWOYIN	CHIEF OPERATING OFFICER	40.00	Key Emp	$186,596	$18,521	$205,117
DAWN BERNARD	DIRECTOR OF QUALITY	40.00	Key Emp	$162,071	$25,474	$187,545
KHANG HOANG	STAFF PHYSICIAN URGENT CARE	40.00	Highest	$219,667	$19,626	$239,293
RUTH YOON	STAFF PHYSICIAN PEDIATRICS	40.00	Highest	$210,392	$25,255	$235,647
RACHEL BARANCO	STAFF PHSICIAN PEDIATRICS	40.00	Highest	$180,288	$40,589	$220,877
KOSAL SEK	PHYSICIAN ASSISTANT	40.00	Highest	$163,005	$8,150	$171,155
ERICA DENLEY	STAFF DENTIST	40.00	Highest	$162,225	$8,495	$170,720

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	$36,937,251	$38,105,438	$34,588,116	$-1,168,187
2022	$39,596,154	$36,259,407	$33,455,671	$3,336,747
2021	$39,954,426	$35,665,913	$28,641,562	$4,288,513
2020	$34,089,683	$35,283,925	$30,022,192	$-1,194,242
2019	$39,305,023	$40,478,743	$24,909,403	$-1,173,720
2018	$38,293,807	$38,598,881	$25,806,778	$-305,074

WATTS HEALTHCARE CORPORATION