Platinum Home Care Health Benefits… - Form 990 Financial Data

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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

2021

Legal Domicile

Phone

7186160800

Tax Period

2023-09-01 to 2024-08-31

Platinum Home Care Health Benefits Trust, founded in 2021, is a community nonprofit in the Mutual Benefit sector that reported $3.8M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $6.5M exceeded revenue, resulting in a 73% operating deficit.

Mission

The Platinum Home Health Benefits Trust ("Trust") was formed to fund benefits adopted and maintained by the Employer to comply with the Wage Parity Act. The Trust pays medical, dental, vision, prescription drug, life, and accidental death & dismemberment benefits to or on behalf of Eligible Employees and their dependents who are covered by the Platinum Health Care Benefits Trust ("Plan").

Program Service Accomplishments

Program 1

The Platinum Home Health Benefits Trust ("Trust") was formed to fund benefits adopted and maintained by the Employer to comply with the Wage Parity Act. The Trust pays medical, dental, vision...

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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 $3,754,288

Investment Income $0

Other Revenue $0

TOTAL REVENUE $3,754,288

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $3,036,206

TOTAL EXPENSES $6,510,374

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,754,288	$4,825,319	-0.2%
Expenses	$6,510,374	$4,371,854	+0.5%
Net Income	$-2,756,086	$453,465	-7.1%

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

N/A

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
Joel Goldberger	Trustee	5.00	Director	$0	$0	$0
Abe Goldberger	Trustee	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
2025	No data	No data	No data	No data
2024	$3,754,288	$6,510,374	$1,011,908	$-2,756,086
2024	$4,105,856	$6,564,966	$1,308,884	$-2,459,110
2023	$4,825,319	$4,371,854	$1,948,238	$453,465

Platinum Home Care Health Benefits Trust