SPARTAN IMAGING INC (EIN 853196614) - Form 990 Financial Analysis & Trantor Score

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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

2020

Legal Domicile

Principal Officer

DALE THOMPSON JR

Phone

2484577868

Tax Period

2023-10-01 to 2024-09-30

SPARTAN IMAGING INC, founded in 2020, is a mid-sized nonprofit in the Health Care sector that reported $23.1M in total revenue in fiscal year 2023. Revenue surged 160% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.6M, a strong 37% operating margin.

Mission

COLLABORATING TO MAKE OUTPATIENT RADIOLOGY SERVICES MORE READILY AVAILABLE TO THE RESIDENTS IN LANSING, MICHIGAN AND SURROUNDING COMMUNITIES.

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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 $23,144,405

Investment Income $0

Other Revenue $0

TOTAL REVENUE $23,144,405

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,618,183

Fundraising Expenses $0

Program Expenses $13,907,707

Other Expenses $8,946,584

TOTAL EXPENSES $14,564,767

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,144,405	$8,907,798	+1.6%
Expenses	$14,564,767	$6,215,557	+1.3%
Net Income	$8,579,638	$2,692,241	+2.2%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NORMAN BEAUCHAMP	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
MARK DELANO	DIRECTOR	1.00	Director	$0	$0	$0
JAY DE LOS REYES	DIRECTOR	1.00	Director	$0	$0	$0
NORM HUBBARD	DIRECTOR	1.00	Director	$0	$0	$0
KIRK RAY	DIRECTOR/LANSING PRESIDENT	0.50	Director	$0	$0	$0
SETH CIABOTTI	PRESIDENT & SECRETARY	1.00	Officer	$0	$0	$0
DALE THOMPSON JR	TREASURER/MCLAREN LANSING	2.00	Officer	$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	$23,144,405	$14,564,767	$36,661,160	$8,579,638
2023	$8,907,798	$6,215,557	$27,390,099	$2,692,241
2023	$8,907,798	$6,215,557	$27,390,099	$2,692,241
2022	$3,406,592	$2,308,573	$11,550,834	$1,098,019

SPARTAN IMAGING INC