DEACONESS SPECIALTY PHYSICIANS INC

EIN: 824503095 501(c)(3) Health Care

EVANSVILLE, IN

Total Revenue
$21,112,407
Total Expenses
$39,485,854
Total Assets
$18,762,795
Net Assets
$3,804,616
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
IN
Principal Officer
CHERYL WATHEN
Phone
8124503296
Tax Period
2023-10-01 to 2024-09-30

DEACONESS SPECIALTY PHYSICIANS INC, founded in 2018, is a mid-sized nonprofit in the Health Care sector that reported $21.1M in total revenue in fiscal year 2023. Expenses of $39.5M exceeded revenue, resulting in a 87% operating deficit.

Mission

TO DELIVER HEALTH CARE AND MEDICAL SERVICES TO THE PUBLIC; TO CARRY OUT SCIENTIFIC RESEARCH AND RESEARCH PROJECTS IN THE PUBLIC INTEREST IN THE FIELDS OF MEDICAL SCIENCES, MEDICAL ECONOMICS, PUBLIC HEALTH, SOCIOLOGY, AND RELATED AREAS; TO IMPROVE AND DEVELOP THE CAPABILITIES OF INDIVIDUALS AND INSTITUTIONS STUDYING, TEACHING, AND PRACTICING MEDICINE AND OTHER HEALTH CARE OCCUPATIONS; TO PROVIDE HEALTH CARE, MEDICAL SERVICES AND HEALTH-RELATED EDUCATION FOR THE BENEFIT OF THE COMMUNITY IN A SYSTEMATIC, INTEGRATED AND COORDINATED FASHION WITH THE DEACONESS HEALTH SYSTEM AND DEACONESS HOSPITAL, INC. AND THEIR AFFILIATES; TO ENGAGE IN THE INSTRUCTION OF THE GENERAL PUBLIC IN THE AREA OF MEDICAL SCIENCE, PUBLIC HEALTH, AND HYGIENE AND RELATED INSTRUCTION USEFUL TO THE INDIVIDUAL AND BENEFICIAL TO THE COMMUNITY; TO CONDUCT OTHER ACTIVITIES USEFUL OR APPROPRIATE TO THE ACCOMPLISHMENT OF THE FOREGOING PURPOSES OR AS OTHERWISE PERMITTED BY LAW.

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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 $0
Program Service Revenue $21,000,567
Investment Income $111,840
Other Revenue $0
TOTAL REVENUE $21,112,407

Expense Breakdown

Grants Paid $0
Salaries & Benefits $34,178,796
Fundraising Expenses $0
Program Expenses $35,082,531
Other Expenses $5,307,058
TOTAL EXPENSES $39,485,854

Year-over-Year Comparison

2023 2022 Change
Revenue $21,112,407 $21,200,472 0.0%
Expenses $39,485,854 $36,712,092 +0.1%
Net Income $-18,373,447 $-15,511,620 +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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Governance

Voting Members
5
Independent Members
N/A
Employees
272
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
3
$3,358,263
Total Directors
5
$3,839,909
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR BRADLEY SCHEU PRESIDENT 5.00
Officer Director
$0 $139,321 $767,058
DR JAMES PORTER VICE PRESIDENT 5.00
Officer Director
$0 $199,566 $1,205,745
CHERYL WATHEN SECRETARY 1.00
Officer Director
$0 $224,614 $1,385,460
JULIE DINGMAN BOARD MEMBER (BEG FY 24) 5.00
Director
$0 $22,105 $300,076
KYLE DILLMAN BOARD MEMBER (BEG FY 24) 5.00
Director
$0 $42,051 $181,570
HOANG TRAN MD PHYSICIAN 50.00
Highest
$1,313,874 $28,184 $1,490,158
CAI YUAN MD PHYSICIAN 50.00
Highest
$2,001,794 $48,122 $2,049,916
CHANDRASHEKAR KUMBAR MD PHYSICIAN 50.00
Highest
$1,195,084 $18,221 $1,213,305
LEE WAGMEISTER MD PHYSICIAN 50.00
Highest
$1,246,293 $22,071 $1,268,364
MANGA KODALI PHYSICIAN 50.00
Highest
$1,728,257 $19,617 $1,747,874
LYNN LINGAFELTER FORMER COO 5.00
$0 $192,400 $1,151,223
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 $21,112,407 $39,485,854 $18,762,795 $-18,373,447
2023 $21,200,472 $36,712,092 $14,628,208 $-15,511,620
2022 $19,381,399 $32,210,344 $5,696,427 $-12,828,945
2021 $18,046,667 $29,842,487 $8,399,720 $-11,795,820
2020 $16,209,744 $30,278,464 $7,248,115 $-14,068,720
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