COLORADO VISITING NURSE ASSOCIATION

EIN: 841043351 501(c)(3) Health Care

DENVER, CO

Total Revenue
$10,792,519
Total Expenses
$12,349,113
Total Assets
$4,937,731
Net Assets
$3,104,088
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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
CO
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

TO PROVIDE HEALTH-CARE SERVICES TO HOME HEALTH AND HOSPICE PATIENTS IN COLORADO.

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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 $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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Governance

Voting Members
7
Independent Members
6
Employees
182
Volunteers
11

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
7
$1,790,851
Total Directors
8
$1,310,687
Key Employees
0
$0
Highest Compensated
3
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
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