CROUSE MEDICAL PRACTICE PLLC

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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

2010

Legal Domicile

Principal Officer

SETH KRONENBERG MD

Phone

3154707317

Tax Period

2023-01-01 to 2023-12-31

CROUSE MEDICAL PRACTICE PLLC, founded in 2010, is a mid-sized nonprofit in the Health Care sector that reported $45.1M in total revenue in fiscal year 2023. Expenses of $76.4M exceeded revenue, resulting in a 69% operating deficit.

Mission

CROUSE MEDICAL PRACTICE WAS ESTABLISHED TO SUPPORT THE CHARITABLE PURPOSES OF CROUSE HOSPITAL, A SECTION 501(C)(3) ORGANIZATION, TO INCLUDE THE PROVISION OF PHYSICIAN SERVICES DESIGNED TO IMPROVE THE QUALITY OF HEALTHCARE AVAILABLE TO RESIDENTS IN CROUSE HOSPITAL'S SERVICE AREA, AND TO INCLUDE THE PROVISION OF NON-DISCRIMINATORY HEALTH CARE SERVICES TO MEDICARE AND MEDICAID RECIPIENTS, AS WELL AS UTILIZATION OF A CHARITY CARE POLICY.

Program Service Accomplishments

Program 1

Expenses: $21,709,077 Revenue: $15,397,587

INTERNAL MEDICINE

Program 2

Expenses: $16,253,784 Revenue: $9,820,254

CARDIOLOGY

Program 3

Expenses: $8,929,184 Revenue: $5,006,180

GENERAL SURGERY & BARIATRICS

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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 $37,550,703

Investment Income $-5,991

Other Revenue $7,577,059

TOTAL REVENUE $45,121,771

Expense Breakdown

Grants Paid $0

Salaries & Benefits $52,486,226

Fundraising Expenses $0

Program Expenses $70,512,051

Other Expenses $23,880,664

TOTAL EXPENSES $76,366,890

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,121,771	$42,021,177	+0.1%
Expenses	$76,366,890	$67,084,558	+0.1%
Net Income	$-31,245,119	$-25,063,381	+0.2%

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

N/A

Employees

583

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

$1,464,493

Total Directors

$984,102

Key Employees

$218,701

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SETH KRONENBERG MD	PRESIDENT AND CEO	2.00	Officer Director	$289,666	$61,469	$984,102
KEVIN RANDALL	CFO	4.00	Officer	$87,526	$64,138	$480,391
CHRIS WILLIAMSON	CURRENT EXE. DIRECTOR	40.00	Key Emp	$188,376	$30,325	$218,701
DAVID PADALINO MD	PHYSICIAN, NEUROSURGERY	40.00	Highest	$821,653	$39,625	$861,278
JOHN ULAHANNAN MD	PHYSICIAN, CARDIOLOGY	40.00	Highest	$768,402	$13,469	$781,871
CLIFFORD SOULTS	PHYSICIAN	40.00	Highest	$747,250	$13,805	$761,055
ANIL GEORGE MD	PHYSICIAN, CARDIOLOGIST	40.00	Highest	$757,851	$35,105	$792,956
JOSEPH BATTAGLIA MD	PHYSICIAN, CARDIOLOGY	40.00	Highest	$764,760	$34,405	$799,165
KIMBERLY BOYNTON	FORMER CEO (TO 3.31.2023)	2.00		$405,093	$29,017	$1,528,328

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	$45,121,771	$76,366,890	$14,930,815	$-31,245,119
2022	$42,021,177	$67,084,558	$16,789,732	$-25,063,381
2021	$39,486,299	$65,346,882	$6,246,472	$-25,860,583
2020	$35,202,174	$58,893,263	$7,737,240	$-23,691,089
2019	$30,577,390	$49,072,648	$6,776,786	$-18,495,258
2018	$30,100,516	$48,175,248	$6,733,373	$-18,074,732