COLORADO VISITING NURSE ASSOCIATION

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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

1987

Legal Domicile

Principal Officer

ERNESTO LOPEZ

Phone

3037804600

Tax Period

2023-01-01 to 2023-12-31

COLORADO VISITING NURSE ASSOCIATION, founded in 1987, is a mid-sized nonprofit in the Health Care sector that reported $10.8M in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year. Expenses of $12.3M exceeded revenue, resulting in a 14% operating deficit.

Mission

COLORADO VISITING NURSE ASSOCIATION IS COMMITTED TO A CONTINUUM OF HEALTH CARE IN THE HOME AND COMMUNITY SUPPORTING OPTIMAL WELL-BEING, INDEPENDENCE, AND DIGNITY.

Program Service Accomplishments

Program 1

Expenses: $9,198,694 Revenue: $9,542,364

TODAY, COLORADO VISITING NURSE ASSOCIATION (CVNA) CARES FOR AN EXCESS OF 10,000 INDIVIDUALS ANNUALLY, INCLUDING MANY WHO ARE UNINSURED OR UNDERINSURED. OUR COMPREHENSIVE ARRAY OF HEALTH SERVICES...

TODAY, COLORADO VISITING NURSE ASSOCIATION (CVNA) CARES FOR AN EXCESS OF 10,000 INDIVIDUALS ANNUALLY, INCLUDING MANY WHO ARE UNINSURED OR UNDERINSURED. OUR COMPREHENSIVE ARRAY OF HEALTH SERVICES SPANS ALL LEVELS OF ACUITY OF CARE FOR INDIVIDUALS, COMMUNITIES AND BUSINESSES. CVNA HAS ALSO DEVELOPED INNOVATIVE PROGRAMS TO HELP SENIORS AGE IN PLACE. HOME HEALTH - CVNA SUPPORTS PATIENTS RECOVERING FROM ILLNESS OR INJURY, OR THOSE WHO JUST NEED A LITTLE ASSISTANCE TO REMAIN INDEPENDENT, BY PROVIDING NURSING, MEDICAL SOCIAL WORK, AND PHYSICAL AND OCCUPATIONAL THERAPIES. AN INDIVIDUALIZED, COMPREHENSIVE CARE PLAN IS DEVELOPED TO PROMOTE CONTINUITY OF CARE FOR THE PATIENT. HOSPICE AND PALLIATIVE CARE - FOR OVER TWO DECADES, CVNA HAS PROVIDED HOSPICE CARE FOR PATIENTS WITH LIMITED LIFE EXPECTANCIES WHO DESIRE TREATMENT FOR PAIN AND OTHER SYMPTOMS WHEN CURATIVE TREATMENTS ARE NO LONGER BENEFICIAL. OUR ALL-INCLUSIVE APPROACH FOCUSES ON THE PHYSICAL, PSYCHOSOCIAL, AND SPIRITUAL NEEDS OF EACH PATIENT AND THEIR FAMILIES. WELLNESS SERVICES - CVNA PROVIDES WELLNESS VISITS TO ELDERLY PATIENTS THAT CONSIST OF A 30-MINUTE VISIT WITH A REGISTERED NURSE TO RECEIVE A WELLNESS ASSESSMENT, HEALTH CARE COUNSELING, AND MEDICAL FOOT CARE. CVNA ALSO PROVIDES COMMUNITY HEALTH AND IMMUNIZATIONS, AS WELL AS CORPORATE WELLNESS, BY PARTNERING WITH BUSINESSES TO PROMOTE HEALTHY LIFESTYLES FOR EMPLOYEES IN AND OUT OF THE OFFICE. OPTIONS INCLUDE IMMUNIZATIONS, HEALTH RISKS ASSESSMENTS, BIOMETRIC SCREENINGS, AND LABS.

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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 $1,161,328

Program Service Revenue $9,542,364

Investment Income $88,827

Other Revenue $0

TOTAL REVENUE $10,792,519

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,100,097

Fundraising Expenses $89,889

Program Expenses $9,198,694

Other Expenses $3,249,016

TOTAL EXPENSES $12,349,113

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,792,519	$13,432,541	-0.2%
Expenses	$12,349,113	$15,376,114	-0.2%
Net Income	$-1,556,594	$-1,943,573	-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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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

182

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

$1,790,851

Total Directors

$1,310,687

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM J BOWEN	PRESIDENT/CHIEF EXECUTIVE OFFICER	1.00	Officer Director	$0	$175,823	$1,029,678
PAUL E TOSETTI	CHIEF FINANCIAL OFFICER	2.00	Officer	$0	$76,506	$480,164
JULIE NUNLEY	PRESIDENT/DIRECTOR (THRU 11/23)	50.00	Officer Director	$221,911	$59,098	$281,009
SARAH STEVENSON	DIRECTOR CLINICAL SERVICES	40.00	Highest	$121,332	$15,483	$136,815
RAMOS LUIS F	MEDICAL DIRECTOR (THRU 06/23)	40.00	Highest	$115,131	$16,840	$131,971
BRIDGET WOOLLEY	CLINICAL MGR	40.00	Highest	$103,414	$2,064	$105,478
BEN PRICE	CHAIR	1.00	Officer Director	$0	$0	$0
TONY GIOCOMINI	VICE CHAIR	1.00	Officer Director	$0	$0	$0
NEDRA DOWNING	TREASURER	1.00	Officer Director	$0	$0	$0
NANCY BOTILLER	SECRETARY	1.00	Officer Director	$0	$0	$0
ADAM BERGQUIST	DIRECTOR	1.00	Director	$0	$0	$0
MARY SCOTT	DIRECTOR	1.00	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	$10,792,519	$12,349,113	$4,937,731	$-1,556,594
2022	$13,432,541	$15,376,114	$6,779,113	$-1,943,573
2021	$19,160,969	$17,023,286	$8,137,996	$2,137,683
2020	$19,033,549	$20,407,116	$8,538,317	$-1,373,567
2019	$18,812,295	$19,989,700	$9,200,201	$-1,177,405
2018	$22,073,889	$22,860,466	$10,007,832	$-786,577