Heartway Corporation (EIN 760234412) - 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

1987

Legal Domicile

Phone

5802861065

Tax Period

2024-07-01 to 2025-06-30

Heartway Corporation, founded in 1987, is a mid-sized nonprofit that reported $13.6M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.5M, a strong 26% operating margin.

Mission

PROVIDE LONG-TERM HEALTH CARE TO THE AGED AND DISABLED.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $12,712,555

Investment Income $206,233

Other Revenue $691,443

TOTAL REVENUE $13,610,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,000,333

Fundraising Expenses $0

Program Expenses $7,327,097

Other Expenses $5,138,468

TOTAL EXPENSES $10,138,801

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,610,231	$10,171,658	+0.3%
Expenses	$10,138,801	$8,744,568	+0.2%
Net Income	$3,471,430	$1,427,090	+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

313

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

$119,682

Total Directors

$13,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW SANFORD	SECRETARY	10.0	Officer Director	$3,000	$0	$3,000
BLAINE BARTON	DIRECTOR	0.1	Officer Director	$3,000	$0	$3,000
CHARLES L DARBY JR	DIRECTOR END: 11/24	0.1	Officer Director	$2,000	$0	$2,000
DR THOMAS W SALYER	VICE PRESIDENT	0.1	Officer Director	$2,000	$0	$2,000
RANDALL BLUE	PRESIDENT	15.0	Officer Director	$3,000	$0	$3,000
KATHY SUZETTE BAUCOM	REGIONAL DIRECTOR/TREASURER	40.0	Officer	$106,682	$0	$106,682
DEBBIE KRUSE	YORK MANOR RN	40.0	Highest	$101,220	$0	$101,220
JENNIFER MOORE	CORPORATE COMPLIANCE DIRECTOR	40.0	Highest	$102,932	$0	$102,932
LANA HUGHES	MEMORIAL HEIGHTS ADMINISTRATOR	40.0	Highest	$145,932	$0	$145,932
SHANNON VIDACAK	YORK MANOR ADON/MDS	40.0	Highest	$109,817	$0	$109,817
SHIRLEY BREASHEARS	YORK MANOR ADMINSTRATOR	40.0	Highest	$122,123	$0	$122,123

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
2025	$13,610,231	$10,138,801	$11,039,856	$3,471,430
2024	No data	No data	No data	No data
2023	$12,761,030	$9,482,853	$8,820,684	$3,278,177
2022	$9,291,222	$7,050,414	$6,509,297	$2,240,808
2021	$7,450,542	$6,975,079	$4,044,448	$475,463
2020	$6,141,124	$6,080,079	$4,020,861	$61,045
2019	$5,466,374	$5,695,369	$2,154,366	$-228,995
2018	$6,071,184	$6,221,690	$2,246,705	$-150,506

Heartway Corporation