INNOVATION HEALTH CENTER

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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

Principal Officer

STEVEN E WEGNER MD JD

Phone

9192282294

Tax Period

2023-01-01 to 2023-12-31

INNOVATION HEALTH CENTER, founded in 2016, is a small nonprofit that reported $599K in total revenue in fiscal year 2023. Revenue surged 61% from the prior year, signaling strong growth momentum. Expenses of $1.2M exceeded revenue, resulting in a 99% operating deficit.

Mission

WORK WITH LOCAL, STATE AND NATIONAL HEALTH CARE PROVIDERS AND LEADERS, POLICY-MAKERS AND OTHER EXPERTS TO DEVELOP INNOVATIVE SOLUTIONS AND STRATEGIES TO PROVIDE COST EFFECTIVE HEALTH SERVICES FOR MEDICAID BENEFICIARIES AND CHILDREN.

Program Service Accomplishments

Program 1

Expenses: $1,092,678

INNOVATION HEALTH CENTER (IHC) PROGRAM SERVICES INCLUDE THE PROCUREMENT OF SPECIAL METABOLIC FORMULA FOR MEDICAID PATIENTS IN NC. IHC TAKES THE DOCTOR'S ORDERS AND ENTERS ORDERS, SPECIFIC TO EACH...

INNOVATION HEALTH CENTER (IHC) PROGRAM SERVICES INCLUDE THE PROCUREMENT OF SPECIAL METABOLIC FORMULA FOR MEDICAID PATIENTS IN NC. IHC TAKES THE DOCTOR'S ORDERS AND ENTERS ORDERS, SPECIFIC TO EACH PATIENT, WITH METABOLIC FORMULA MANUFACTURERS. THE ORDERS ARE DROP SHIPPED TO THE PATIENT'S HOME COUNTY HEALTH DEPARTMENT FOR PICK UP. IN 2019, IHC BEGAN COLLABORATION ON A PILOT PROGRAM RELATED TO ENHANCED CARE COORDINATION AND COMPLEX CARE MANAGEMENT OF CHILDREN WITH MEDICAL COMPLEXITY CARED FOR IN NORTH CAROLINA. IHC COLLABORATION RESUMED IN 2023 AFTER EXPERIENCING DELAYS IN ADMINISTERING SOME OF ITS PROGRAMS IN 2022, DUE TO DELAYS ENCOUNTERED BY THE FUNDED ENTITIES.

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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 $181,413

Program Service Revenue $0

Investment Income $417,887

Other Revenue $0

TOTAL REVENUE $599,300

Expense Breakdown

Grants Paid $762,710

Salaries & Benefits $140,003

Fundraising Expenses $0

Program Expenses $1,092,678

Other Expenses $289,351

TOTAL EXPENSES $1,192,064

Year-over-Year Comparison

	2023	2022	Change
Revenue	$599,300	$371,191	+0.6%
Expenses	$1,192,064	$408,255	+1.9%
Net Income	$-592,764	$-37,064	+15.0%

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

$140,003

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN E WEGNER MD JD	PRESIDENT	20.00	Officer	$140,003	$0	$140,003
ALAN D STILES MD	CHAIRMAN	0.50	Officer Director	$0	$0	$0
GREGORY L ADAMS MD	SECRETRY/TRE	0.50	Officer Director	$0	$0	$0
TIM BELL	DIRECTOR (TH	0.25	Director	$0	$0	$0
JOSEPH PONZI MD	DIRECTOR (EF	0.25	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	No data	No data	No data	No data
2023	$599,300	$1,192,064	$3,162,515	$-592,764
2022	$371,191	$408,255	$3,845,510	$-37,064
2021	$536,823	$580,861	$4,708,599	$-44,038
2020	$577,127	$1,321,578	$4,500,070	$-744,451
2019	$628,153	$708,248	$4,990,939	$-80,095