PAEON HEALTH SERVICES INC

EIN: 821064427 501(c)(3) Health Care

AUSTIN, TX

Total Revenue
$12,900,954
Total Expenses
$13,105,052
Total Assets
$667,111
Net Assets
$667,111
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
LA
Principal Officer
JIM MOLLOY
Phone
5128993995
Tax Period
2023-01-01 to 2023-12-31

PAEON HEALTH SERVICES INC, founded in 2017, is a mid-sized nonprofit in the Health Care sector that reported $12.9M in total revenue in fiscal year 2023. Revenue surged 90% from the prior year, signaling strong growth momentum.

Mission

THERE IS NO BOARD ADOPTED MISSION STATEMENT.

Program Service Accomplishments

Program 1
Expenses: $12,799,916 Revenue: $4,925,954

TERREBONNE PARISH HAS A SIGNIFICANT NEED FOR MEDICAL SERVICES FOR THE INDIGENT, INCLUDING THOSE WHO ARE ELIGIBLE TO PARTICIPATE IN THE MEDICAID PROGRAM. TO ACCOMPLISH ITS CHARITABLE PURPOSES, THE...

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TERREBONNE PARISH HAS A SIGNIFICANT NEED FOR MEDICAL SERVICES FOR THE INDIGENT, INCLUDING THOSE WHO ARE ELIGIBLE TO PARTICIPATE IN THE MEDICAID PROGRAM. TO ACCOMPLISH ITS CHARITABLE PURPOSES, THE CORPORATION EMPLOYS PHYSICIANS PROVIDING PROFESSIONAL HEALTHCARE SERVICES FOR THE LOW-INCOME POPULATION. AS OF DECEMBER 2023, PAEON HEALTH SERVICES (PHS) EMPLOYED 32 PHYSICIANS, WHO SPECIALIZE IN AREAS SUCH AS ANESTHESIOLOGY, PATHOLOGY, PHYSICAL MEDICINE, AND NEONATOLOGY. PHS PHYSICIANS TREATED 11,577 PATIENTS IN 2023, OF WHICH 21% ARE MEDICAID PATIENTS AND 37% ARE MEDICARE PATIENTS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,975,000
Program Service Revenue $4,925,954
Investment Income $0
Other Revenue $0
TOTAL REVENUE $12,900,954

Expense Breakdown

Grants Paid $0
Salaries & Benefits $10,059,908
Fundraising Expenses $0
Program Expenses $12,799,916
Other Expenses $3,045,144
TOTAL EXPENSES $13,105,052

Year-over-Year Comparison

2023 2022 Change
Revenue $12,900,954 $6,787,403 +0.9%
Expenses $13,105,052 $6,198,841 +1.1%
Net Income $-204,098 $588,562 -1.3%
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

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Governance

Voting Members
2
Independent Members
N/A
Employees
32
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
2
$6,907,169
Total Directors
2
$6,907,169
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PETER C NOVEMBER DIRECTOR/SEC/TREAS/CFO 1.00
Officer Director
$0 $852,128 $5,035,779
SCOTT J POSECAI DIRECTOR/PRES/CEO (END: 12/2023) 1.00
Officer Director
$0 $184,304 $1,871,390
WILLARD T DALTON MD PHYSICIAN 40.00
Highest
$335,500 $19,800 $355,300
BEN B ADAMS MD PHYSICIAN 40.00
Highest
$630,666 $0 $630,666
BEDFORD NIEVES-CRUZ MD PHYSICIAN 40.00
Highest
$459,578 $19,800 $479,378
MICHAEL A PREJEAN MD PHYSICIAN 40.00
Highest
$586,923 $19,800 $606,723
JARED M ROUSSEL MD PHYSICIAN 40.00
Highest
$555,131 $13,200 $568,331
RUSSELL P HENRY MD FORMER KEY EMPLOYEE 40.00
$265,843 $10,634 $276,477
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 $12,900,954 $13,105,052 $667,111 $-204,098
2022 $6,787,403 $6,198,841 $871,209 $588,562
2021 $5,044,933 $5,170,181 $282,647 $-125,248
2020 $5,282,589 $4,964,006 $441,074 $318,583
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