NEVADA STATE MEDICAL 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

1988

Legal Domicile

Principal Officer

JACQUELINE L NGUYEN

Phone

7758256788

Tax Period

2024-10-01 to 2025-09-30

NEVADA STATE MEDICAL ASSOCIATION, founded in 1988, is a small nonprofit that reported $507K in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $738K exceeded revenue, resulting in a 46% operating deficit.

Mission

TO PROMOTE THE COMMON INTERESTS OF ITS MEMBERS WITHIN THE MEDICAL COMMUNITY.

Program Service Accomplishments

Program 1

SCHOLARSHIPS ARE DISTRIBUTED BY A SEPARATE ENTITY, THE NEVADA STATE MEDICAL SCHOLARSHIP FUND CORPORATION.

Program 2

AN IN PERSON MEETING WAS HELD IN 2024 (HENDERSON, NEVADA) AND IN 2025 (RENO,NEVADA).

Program 3

NEWSLETTERS WERE EMAILED TO ALL MEMBERS TO PROMOTE ORGANIZATION ACTIVITIES AND NEW PERTINENT DEVELOPMENT.

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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 (2024)

Revenue Breakdown

Contributions & Grants $316,353

Program Service Revenue $136,312

Investment Income $23,899

Other Revenue $30,017

TOTAL REVENUE $506,581

Expense Breakdown

Grants Paid $0

Salaries & Benefits $311,067

Fundraising Expenses $0

Other Expenses $426,833

TOTAL EXPENSES $737,900

Year-over-Year Comparison

	2024	2023	Change
Revenue	$506,581	$598,733	-0.2%
Expenses	$737,900	$545,297	+0.4%
Net Income	$-231,319	$53,436	-5.3%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SOWJANYA REGANTI MD	PAST PRESIDENT	2.00	Director	$0	$0	$0
JOSEPH ADASHEK MD	PAST PRESIDENT	2.00	Director	$0	$0	$0
DANIEL SPOGEN MD	Treasurer	2.00	Director	$0	$0	$0
JEFFREY ROTH MD	PRESIDENT ELECT	2.00	Director	$0	$0	$0
JAY MORGAN MD	President	2.00	Director	$0	$0	$0
FLORENCE JAMESON MD	CHIEF AMA DEL	2.00	Director	$0	$0	$0
NICK FIORE MD	Secretary	2.00	Director	$0	$0	$0
PETER FENWICK MD	SR ADV TO COUNC	2.00	Director	$0	$0	$0
JOSEPH ADASHEK MD	AMA ALT DELEGAT	2.00	Director	$0	$0	$0
SOWJANYA REGANTI MD	AMA DELEGATE	2.00	Director	$0	$0	$0
WELDOND HAVINS MD JD	SR ADV TO COUNC	2.00	Director	$0	$0	$0
SAMANTHA SCHNEIDER MD	AMA ALT DELEGAT	2.00	Director	$0	$0	$0
TESSA SCHWERING MD	CDCMS PRESIDENT	2.00	Director	$0	$0	$0
BRAD ISAACS MD	CCMS PRESIDENT	2.00	Director	$0	$0	$0
RON SMITH MD	WCMS CHIEF DELE	2.00	Director	$0	$0	$0
JERRY REEVES MD	CCMS CHIEF DELE	2.00	Director	$0	$0	$0
STEVE LORE MD	RURAL REP	2.00	Director	$0	$0	$0
JACQUELINE L NGUYEN	Executive Dir.	40.00	Director	$0	$0	$0
JOHN HARDWICK MD	WCMS PRESIDENT	2.00	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	$506,581	$737,900	$1,379,708	$-231,319
2024	$598,733	$545,297	$1,570,982	$53,436
2023	$538,040	$532,191	$1,306,093	$5,849
2022	$504,933	$518,177	$1,291,635	$-13,244
2021	$624,391	$410,627	$1,386,177	$213,764
2020	$721,264	$548,156	$1,028,209	$173,108
2019	$638,061	$698,623	$800,296	$-60,562
2018	$493,840	$513,876	$843,004	$-20,036