HEADWATERS HEALTH FOUNDATION

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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

2016

Legal Domicile

Phone

5174374451

Tax Period

2023-07-01 to 2024-06-30

HEADWATERS HEALTH FOUNDATION, founded in 2016, is a community nonprofit in the Health Care sector that reported $1.4M in total revenue in fiscal year 2023. Expenses of $1.6M exceeded revenue, resulting in a 21% operating deficit.

Mission

HEADWATERS HEALTH FOUNDATION PROVIDES FINANCING AND MAINTENANCE TO HILLSDALE COMMUNITY HEALTH CENTER DBA HILLSDALE HOSPITAL.

Program Service Accomplishments

Program 1

Expenses: $1,633,972 Revenue: $1,334,624

HEADWATERS HEALTH FOUNDATION CONTROLS ANY INTEREST IN REAL ESTATE AND PERSONAL PROPERTY OF THE HOSPITAL AND OPERATES IMPROVEMENTS TO MAINTAIN THE PROPERTY.

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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 $0

Investment Income $17,550

Other Revenue $1,334,624

TOTAL REVENUE $1,352,174

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,633,972

Other Expenses $1,633,972

TOTAL EXPENSES $1,633,972

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,352,174	$1,344,650	+0.0%
Expenses	$1,633,972	$1,588,291	+0.0%
Net Income	$-281,798	$-243,641	+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

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	BOARD CHAIRMAN	1.0	Officer Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	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
2025	No data	No data	No data	No data
2024	$1,352,174	$1,633,972	$12,940,670	$-281,798
2023	$1,344,650	$1,588,291	$13,929,785	$-243,641
2022	$1,327,083	$1,778,129	$14,983,598	$-451,046
2021	$1,354,491	$1,880,913	$16,094,984	$-526,422
2020	$1,400,188	$2,291,505	$17,477,426	$-891,317
2019	$1,335,829	$2,575,654	$18,945,929	$-1,239,825
2018	$3,212,155	$2,838,967	$21,541,899	$373,188