WATERFALL CLINIC INC (EIN 931250581) - 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

1998

Legal Domicile

Principal Officer

MIKE DURBIN

Phone

5417566232

Tax Period

2024-07-01 to 2025-06-30

WATERFALL CLINIC INC, founded in 1998, is a mid-sized nonprofit in the Health Care sector that reported $16.5M in total revenue in fiscal year 2024. Expenses of $15.3M left a modest 7% surplus.

Mission

TO PROMOTE ACCESS TO QUALITY INTEGRATED HEALTH SERVICES THAT MEET THE NEEDS OF INDIVIDUALS WITH BARRIERS TO CARE ON THE SOUTHERN OREGON COAST.

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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 $2,869,900

Program Service Revenue $13,526,288

Investment Income $70,590

Other Revenue $-6,388

TOTAL REVENUE $16,460,390

Expense Breakdown

Grants Paid $47,175

Salaries & Benefits $11,821,735

Fundraising Expenses $0

Program Expenses $11,455,405

Other Expenses $3,451,900

TOTAL EXPENSES $15,320,810

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,460,390	$17,111,511	0.0%
Expenses	$15,320,810	$13,696,931	+0.1%
Net Income	$1,139,580	$3,414,580	-0.7%

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

159

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

$1,036,168

Total Directors

Key Employees

$406,546

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORRAINE DAVIES MD	PSYCHIATRIST	40.00	Highest	$391,399	$54,862	$446,261
ROBERT GERBER MD	PHYSICIAN	40.00	Highest	$235,117	$18,886	$254,003
PATRICK DWYER MD	PHYSICIAN	40.00	Highest	$223,212	$25,207	$248,419
LANCE NELSON MS LPC	CEO (THROUGH MARCH 2025)	40.00	Officer	$226,289	$21,806	$248,095
ANDREA PALACIOS CPA	CHIEF FINANCIAL OFFICER	40.00	Officer	$195,116	$28,699	$223,815
TYLER COOPER DNP PMHNP	PSYCHIATRY PROGRAM MANAGER	40.00	Key Emp	$176,845	$34,396	$211,241
DR PRIYA AGRAWAL DENTAL	PROGRAM MANAGER (THROUGH SEP 2024)	40.00	Highest	$183,894	$19,895	$203,789
GINA MASTROIANNI MED BCBA	LBA, AUTISM PROGRAM MANAGER	40.00	Key Emp	$176,085	$19,220	$195,305
ANTONIA PEREZ FNP PSYCHIATRIC	MENTAL HEALTH NURSE PRACTITIONER	40.00	Highest	$159,854	$27,996	$187,850
KAREN SHEELAR MS LPC NCC	CHIEF BEHAVIORAL HEALTH OFFICER	40.00	Officer	$138,814	$18,196	$157,010
NICOLE NORRIS MA THW	CHIEF QUALITY OFFICER	40.00	Officer	$129,931	$19,807	$149,738
JUSTIN CASEY	CHIEF OPERATING OFFICER	40.00	Officer	$128,316	$14,872	$143,188
BHARBAVGHAI PATEL MD	CMO (THROUGH DEC 2024)	40.00	Officer	$75,620	$4,537	$80,157
MICHAEL TORRES MD MBA CPE	FAAPL, FAAFP, CMO (AS OF DEC 2024)	40.00	Officer	$32,231	$1,934	$34,165
SANDRA QUALMAN	PRESIDENT, THEN INTERIM CEO	9.00	Officer Director	$0	$0	$0
MARCELENE KNIGHT	VICE PRESIDENT, THEN PRESIDENT	1.00	Officer Director	$0	$0	$0
TONY CRANE	TREASURER (THROUGH MAY 2025)	1.00	Officer Director	$0	$0	$0
ANNA HUIT	SECRETARY	1.00	Officer Director	$0	$0	$0
MCCLAIN ALTMAN	DIRECTOR	1.00	Director	$0	$0	$0
RUTH BELL	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH BRIGHAM	DIRECTOR	1.00	Director	$0	$0	$0
ARNOLD ROBLAN	DIRECTOR	1.00	Director	$0	$0	$0
LESLIE RYAN	DIRECTOR	1.00	Director	$0	$0	$0
STEVE SANDEN	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
2025	$16,460,390	$15,320,810	$18,107,636	$1,139,580
2024	$17,111,511	$13,696,931	$17,059,547	$3,414,580
2023	$11,581,874	$11,027,839	$10,896,364	$554,035
2022	$9,128,145	$8,874,813	$6,988,257	$253,332
2021	$9,513,372	$8,392,857	$5,984,282	$1,120,515
2020	$8,175,697	$7,813,975	$5,736,214	$361,722
2019	$6,097,148	$5,827,982	$4,390,408	$269,166
2018	$5,293,680	$5,273,614	$4,197,522	$20,066

WATERFALL CLINIC INC