VELATURA HIE CORPORATION

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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

TIMOTHY PLETCHER

Phone

8444542443

Tax Period

2023-10-01 to 2024-09-30

VELATURA HIE CORPORATION, founded in 2020, is a community nonprofit in the Health Care sector that reported $6.5M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $7.4M exceeded revenue, resulting in a 14% operating deficit.

Mission

NOT-FOR-PROFIT ORGANIZATION OFFERING AFFILIATION, COLLABORATION, AND INTEGRATION OPPORTUNITIES TO HEALTH INFORMATION EXCHANGES (HIES) ACROSS THE COUNTRY.

Program Service Accomplishments

Program 1

Expenses: $5,690,818 Revenue: $6,515,528

OFFERING AFFILIATION, COLLABORATION, AND INTEGRATION OPPORTUNITIES TO HEALTH INFORMATION EXCHANGES (HIES) ACROSS THE COUNTRY. VELATURA HIE IS A CONSOLIDATION OF HIES, COMMUNITY-BASED ORGANIZATIONS...

OFFERING AFFILIATION, COLLABORATION, AND INTEGRATION OPPORTUNITIES TO HEALTH INFORMATION EXCHANGES (HIES) ACROSS THE COUNTRY. VELATURA HIE IS A CONSOLIDATION OF HIES, COMMUNITY-BASED ORGANIZATIONS, AND HEALTH INFORMATION NETWORKS THAT HAVE FORMALLY AFFILIATED TO ACHIEVE NATIONAL ECONOMIES OF SCALE WHILE MAINTAINING LOCALIZED STAKEHOLDER ALIGNMENT AND FOCUS.

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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 $6,515,528

Investment Income $0

Other Revenue $0

TOTAL REVENUE $6,515,528

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,690,818

Other Expenses $7,443,438

TOTAL EXPENSES $7,443,438

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,515,528	$4,856,562	+0.3%
Expenses	$7,443,438	$4,666,140	+0.6%
Net Income	$-927,910	$190,422	-5.9%

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

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

$1,917,356

Total Directors

$1,331,687

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY PLETCHER	CEO	0.50	Officer Director	$0	$45,200	$504,462
ANGELA BASS	EVP & CSO	0.50	Officer Director	$0	$51,971	$435,288
MARLEN WOODRUFF	DIRECTOR	0.50	Director	$0	$35,737	$391,937
BHARAT GANDHI	CHIEF LEGAL	0.50	Officer	$0	$33,547	$364,710
RICHARD FISH	CTO	40.00	Officer	$0	$47,418	$346,606
STEPHANIE SCHULTZ	CFO	0.50	Officer	$0	$41,995	$266,290
DR KEVIN BOHNSACK	DIRECTOR	2.00	Director	$0	$0	$0
DEBORAH GASH	TREASURER	2.00	Officer 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	$6,515,528	$7,443,438	$2,440,801	$-927,910
2023	$4,856,562	$4,666,140	$2,584,358	$190,422
2022	$2,322,855	$2,878,730	$2,108,747	$-555,875