Chelsea Medical Staff Trust

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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

Aleksandr Belakovskiy

Phone

7345935898

Tax Period

2022-01-01 to 2022-12-31

Chelsea Medical Staff Trust, founded in 2016, is a micro nonprofit in the Community Improvement sector that reported $66K in total revenue in fiscal year 2022. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $146K exceeded revenue, resulting in a 122% operating deficit.

Mission

To promote a common interest of maintaining and improving medical staff skills, performance, knowledge, quality of care, and cost efficiency through peer review, education, certification of completion, establishment of standards, and professional interchange.

Program Service Accomplishments

Program 1

In 2022, Chelsea Hospital continued to suffer from national staffing shortages and limited gathering ability. During the year we maintained minimal programming, finished the Physicians Lounge and...

In 2022, Chelsea Hospital continued to suffer from national staffing shortages and limited gathering ability. During the year we maintained minimal programming, finished the Physicians Lounge and supported the Medical Executive Committee annual stipends. We did support a proctor for one of our medical staff who needed extra training for a new procedure.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $65,676

Other Revenue $0

TOTAL REVENUE $65,676

Expense Breakdown

Grants Paid $0

Salaries & Benefits $115,098

Fundraising Expenses $0

Other Expenses $30,932

TOTAL EXPENSES $146,030

Year-over-Year Comparison

	2022	2021	Change
Revenue	$65,676	$95,318	-0.3%
Expenses	$146,030	$220,425	-0.3%
Net Income	$-80,354	$-125,107	-0.4%

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

N/A

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

$54,000

Total Directors

$112,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Stephen Wampler MD	Chair	001.00	Officer Director	$45,000	$0	$45,000
Andre King MD	Board Member	001.50	Director	$18,000	$0	$18,000
Fazleomar Mahmood MD	Board Member	001.50	Director	$18,000	$0	$18,000
Creg Carpenter MD	President	000.50	Officer Director	$4,500	$0	$4,500
Aleksandr Belakovskiy MD	Secretary/Treasurer	001.00	Officer Director	$4,500	$0	$4,500
Kent Collin MD	Board Member	000.50	Director	$4,500	$0	$4,500
Etienne Dehoorne MD	Board Member	000.50	Director	$4,500	$0	$4,500
Parvathy Nair MD	Board Member	000.50	Director	$4,500	$0	$4,500
Jon Vandervliet MD	Board Member	000.50	Director	$4,500	$0	$4,500
Jane Beimer MD	Board Member	000.50	Director	$4,500	$0	$4,500
N/A	Trustee	002.00		$2,598	$0	$2,598

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
2022	$65,676	$146,030	$175,815	$-80,354
2021	$95,318	$220,425	$336,164	$-125,107
2020	$67,805	$128,780	$478,340	$-60,975
2019	$127,831	$160,044	$516,012	$-32,213
2018	$165,110	$171,848	$489,720	$-6,738