True North Flexstaff Inc

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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

2017

Legal Domicile

Principal Officer

MICHAEL J DOWLING

Phone

5163216058

Tax Period

2023-01-01 to 2023-12-31

True North Flexstaff Inc, founded in 2017, is a mid-sized nonprofit in the Employment sector that reported $17.4M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $19.2M exceeded revenue, resulting in a 11% operating deficit.

Mission

TRUE NORTH FLEXSTAFF, INC. IS AN AFFILIATED MEMBER OF NORTHWELL HEALTH, INC. ("NORTHWELL") WHICH STRIVES TO IMPROVE THE HEALTH OF THE COMMUNITIES IT SERVES AND IS COMMITTED TO PROVIDING THE HIGHEST QUALITY CLINICAL CARE; EDUCATING THE CURRENT AND FUTURE GENERATIONS OF HEALTHCARE PROFESSIONALS; SEARCHING FOR NEW ADVANCES IN MEDICINE THROUGH THE CONDUCT OF BIOMEDICAL RESEARCH; PROMOTING HEALTH EDUCATION AND CARING FOR THE ENTIRE COMMUNITY REGARDLESS OF THE ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $17,298,451 Revenue: $17,282,962

TRUE NORTH FLEXSTAFF, INC. IS AN AFFILIATED MEMBER OF NORTHWELL HEALTH, INC. ("NORTHWELL") AND IS INTENDED TO PROVIDE STAFFING SERVICES TO THE HOSPITALS AND MEDICAL PRACTICES OF NORTHWELL.

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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 $114,250

Program Service Revenue $17,282,962

Investment Income $0

Other Revenue $0

TOTAL REVENUE $17,397,212

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,220,122

Fundraising Expenses $0

Program Expenses $17,298,451

Other Expenses $2,011,489

TOTAL EXPENSES $19,231,611

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,397,212	$15,908,493	+0.1%
Expenses	$19,231,611	$15,533,620	+0.2%
Net Income	$-1,834,399	$374,873	-5.9%

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

15946

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

$12,111,755

Total Directors

$2,096,036

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DOWLING	CEO	0.0	Officer	$0	$70,612	$9,042,544
MICHELE CUSACK	CFO & Treasurer	0.0	Officer	$0	$78,507	$1,696,458
LAURENCE KRAEMER	Secretary, EVP & General Couns	0.0	Officer Director	$0	$69,888	$1,372,753
MATTHEW KIRSCHNER	Trustee/VP Northwell	0.0	Director	$0	$78,507	$723,283
ASHLEY ARTHUR	RN - FlexStaff	50.0	Highest	$344,576	$27,875	$372,451
ELIZABETH DONADO	RN - FlexStaff	50.0	Highest	$332,044	$27,123	$359,167
LANY VARGAS	RN - FlexStaff	50.0	Highest	$313,666	$26,020	$339,686
ROCHELLE RIVERA	RN - FlexStaff	50.0	Highest	$310,526	$25,832	$336,358
ELYAR IBRAGIMOV	RN - FlexStaff	50.0	Highest	$275,052	$23,703	$298,755

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	$17,397,212	$19,231,611	$17,045,933	$-1,834,399
2022	$15,908,493	$15,533,620	$19,091,713	$374,873
2021	$27,215,805	$11,957,522	$18,448,140	$15,258,283
2020	$9,115,100	$7,711,654	$3,034,505	$1,403,446
2019	$6,335,909	$5,120,829	$1,509,861	$1,215,080