LANCASTER PATIENT CARE 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

2018

Legal Domicile

Principal Officer

MICHAEL D LEE

Phone

6037884911

Tax Period

2023-10-01 to 2024-09-30

LANCASTER PATIENT CARE CENTER, founded in 2018, is a small nonprofit in the Health Care sector that reported $179K in total revenue in fiscal year 2023. Expenses of $593K exceeded revenue, resulting in a 231% operating deficit.

Mission

LANCASTER PATIENT CARE CENTER (THE "CORPORATION") IS ORGANIZED AND SHALL ALWAYS BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF WEEKS MEDICAL CENTER ("WMC"), A NEW HAMPSHIRE NONPROFIT CORPORATION, ALL IN FURTHERANCE OF CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING.

Program Service Accomplishments

Program 1

Expenses: $543,543 Revenue: $179,000

THE ORGANIZATION IS SUPPORTING WEEKS MEDICAL CENTER BY OBTAINING FINANCING FOR THE BUILDING OF A 45,310 SQUARE FOOT PHYSICIAN OFFICE BUILDING THROUGH A NEW MARKET TAX CREDIT STRUCTURE. FINANCING WAS EXECUTED ON NOVEMBER 14, 2018. WEEKS MEDICAL CENTER IS LEASING THE SPACE FROM LPCC AS OF DECEMBER 2019. THE FINANCING STRUCTURE WILL REMAIN INTACT FOR AT LEAST SEVEN YEARS, PER THE NEW MARKET TAX CREDIT REGULATIONS. THE PROJECT STARTED IN FISCAL YEAR 2019 AND WAS COMPLETED IN FISCAL YEAR 2020.

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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 $0

Program Service Revenue $179,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $179,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $543,543

Other Expenses $593,293

TOTAL EXPENSES $593,293

Year-over-Year Comparison

	2023	2022	Change
Revenue	$179,000	$179,000	N/A
Expenses	$593,293	$593,293	N/A
Net Income	$-414,293	$-414,293	N/A

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

$1,591,151

Total Directors

$866,603

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL D LEE	CHAIR & PRESIDENT/CEO - WM	1.00	Officer Director	$0	$9,940	$393,195
MATTHEW STREETER	VICE CHAIR & SYSTEM CFO	0.50	Officer Director	$0	$20,804	$378,399
LISA TETREAULT	SECRETARY	1.00	Officer Director	$0	$6,103	$95,009
DAVID HILL	TREASURER	1.00	Director	$0	$0	$0
SARAH DESROCHERS	BOARD MEMBER	1.00	Director	$0	$0	$0
JON FREEMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS MEE	SYSTEM CEO	0.50	Officer	$0	$18,318	$724,548

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	$179,000	$593,293	$12,007,765	$-414,293
2023	$179,000	$593,293	$12,339,486	$-414,293
2022	$179,000	$593,313	$12,705,161	$-414,313
2021	$179,000	$593,393	$13,002,947	$-414,393
2020	$179,000	$430,782	$13,334,768	$-251,782
2019	No data	$95	$14,722,802	No data