Western Reserve Care Solutions

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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

William E Finn

Phone

2163832222

Tax Period

2023-01-01 to 2023-12-31

Western Reserve Care Solutions, founded in 2018, is a mid-sized nonprofit in the Health Care sector that reported $16.8M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $14.6M left a modest 13% surplus.

Mission

WESTERN RESERVE CARE SOLUTIONS ("WRCS") IS A NONPROFIT CORPORATION ESTABLISHED UNDER THE STATE LAWS OF OHIO. WRCS IS PART OF A GROUP OF RELATED CHARITABLE ORGANIZATIONS THAT PROVIDE HOSPICE, PALLIATIVE CARE, AND RELATED SERVICES.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $16,072,189

WESTERN RESERVE CARE SOLUTIONS' ("WRCS") PURPOSE IS TO SUPPORT THE MISSION OF ITS SUBSIDIARES, HOSPICE OF THE WESTERN RESERVE, INC. ("HWR"), HOSPICE OF MEDINA COUNTY ("HMC"), HOSPICE OF THE WESTERN...

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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 $15,946,374

Investment Income $703,026

Other Revenue $125,815

TOTAL REVENUE $16,775,215

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,639,859

Fundraising Expenses $0

Program Expenses $0

Other Expenses $3,008,633

TOTAL EXPENSES $14,648,492

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,775,215	$14,760,996	+0.1%
Expenses	$14,648,492	$14,024,397	+0.0%
Net Income	$2,126,723	$736,599	+1.9%

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

Employees

1100

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

$1,096,044

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM E FINN	PRESIDENT & CEO	40.0	Officer	$533,292	$36,536	$569,828
MARINA LAZBIN	ASSISTANT MEDICAL DIRECTOR	2.0	Highest	$350,613	$31,935	$382,548
ROBERT ANCKER	CHIEF MEDICAL DIRECTOR	2.0	Highest	$328,668	$35,038	$363,706
KENELM MCCORMICK	ASSOCIATE MEDICAL DIRECTOR	2.0	Highest	$311,250	$4,578	$315,828
LARRY ROBINSON	HOSPICE MEDICAL DIRECTOR	2.0	Highest	$264,990	$35,391	$300,381
JEANNETTE SPRENG	ASSOCIATE MEDICAL DIRECTOR	2.0	Highest	$260,051	$33,343	$293,394
JULIA A BARTEL	CHIEF CLINICAL OFFICER	3.0	Officer	$248,230	$30,741	$278,971
JEFFREY KOVACS	CHIEF FINANCIAL OFFICER	40.0	Officer	$233,364	$13,881	$247,245
WILLIAM BOWMAN	VICE CHAIR	1.0	Officer Director	$0	$0	$0
ALFRED CONNORS	DIRECTOR	1.0	Director	$0	$0	$0
RAYMOND CUSHING	DIRECTOR	1.0	Director	$0	$0	$0
DAN DEMONICA	DIRECTOR	1.0	Director	$0	$0	$0
ELIZABETH DOMHOLDT	DIRECTOR	1.0	Director	$0	$0	$0
WILLIAM HERZBERGER	CHAIR	1.0	Officer Director	$0	$0	$0
MICHAEL JACOBSON	DIRECTOR	1.0	Director	$0	$0	$0
VIRGINIA MLACK MOONEY	DIRECTOR	1.0	Director	$0	$0	$0
LAURA NAVIN	SECRETARY	1.0	Officer Director	$0	$0	$0
FAITH NOBLE	DIRECTOR	1.0	Director	$0	$0	$0
K KAY POTETZ	DIRECTOR	1.0	Director	$0	$0	$0
MARY OGRINC	DIRECTOR	1.0	Director	$0	$0	$0
MARK RIBBINS	DIRECTOR	1.0	Director	$0	$0	$0
MARK ROSS	TREASURER	1.0	Officer Director	$0	$0	$0
MICHAEL SANDRIDGE	DIRECTOR	1.0	Director	$0	$0	$0
MARK SCHROEDER	DIRECTOR	1.0	Director	$0	$0	$0
WILLIAM SPRINGER	DIRECTOR	1.0	Director	$0	$0	$0
WILLIAM STIGELMAN	DIRECTOR	1.0	Director	$0	$0	$0
LAMONT MACKLEY	DIRECTOR	1.0	Director	$0	$0	$0
DIANA STARKS	DIRECTOR	1.0	Director	$0	$0	$0

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	$16,775,215	$14,648,492	$6,676,633	$2,126,723
2022	$14,760,996	$14,024,397	$30,374,301	$736,599
2021	$12,894,252	$13,394,554	$7,543,573	$-500,302
2020	$11,457,113	$12,147,488	$4,332,505	$-690,375
2019	$13,054,085	$12,823,186	$3,519,586	$230,899