Seton Medical Center Foundation

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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

1982

Legal Domicile

Principal Officer

PETER CHADWICK

Phone

6509915420

Tax Period

2019-07-01 to 2020-06-30

Seton Medical Center Foundation, founded in 1982, is a micro nonprofit that reported $29K in total revenue in fiscal year 2019. Revenue fell 79% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 3504% operating deficit.

Mission

THE MISSION OF SETON MEDICAL CENTER FOUNDATION ("THE FOUNDATION") IS TO DEVELOP PARTNERSHIPS TO SUPPORT THE PHILANTHROPIC NEEDS OF SETON MEDICAL CENTER ("SMC") AND SETON MEDICAL CENTER COASTSIDE ("SMCC") BY RAISING FUNDS THROUGH GRANTS, SPECIAL EVENTS, AND DONORS.

Program Service Accomplishments

Program 1

Expenses: $1,061,008 Revenue: $0

CHARITABLE GIFTS TO THE FOUNDATION HELP TO PURCHASE NEW EQUIPMENT FOR SMC/SMCC, MODERNIZE AND EXPAND FACILITIES AT SMC/SMCC, AND PROVIDE THE HIGHEST QUALITY HEALTH CARE AND COMMUNITY PROGRAMS TO...

CHARITABLE GIFTS TO THE FOUNDATION HELP TO PURCHASE NEW EQUIPMENT FOR SMC/SMCC, MODERNIZE AND EXPAND FACILITIES AT SMC/SMCC, AND PROVIDE THE HIGHEST QUALITY HEALTH CARE AND COMMUNITY PROGRAMS TO THOSE WHO NEED IT THE MOST. FUNDS ARE RAISED THROUGH GRANTS, SPECIAL FUNDRAISING EVENTS, AND FROM DONORS WHO ARE COMMITTED TO MAKING A DIFFERENCE IN THE LIVES OF THE PATIENTS OF SMC/SMCC AND THEIR FAMILIES. DURING THE JUNE 30, 2020 FISCAL YEAR, THE FOUNDATION GRANTED $1,049,090 IN FUNDS TO SMC/SMCC. RECENT PROGRAMS AT SMC/SMCC MADE POSSIBLE BY GENEROUS FOUNDATION GIFTS INCLUDE THE INSTALLATION OF ONCOLOGY EQUIPMENT AND NURSING EDUCATION.

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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 (2019)

Revenue Breakdown

Contributions & Grants $420

Program Service Revenue $0

Investment Income $29,020

Other Revenue $0

TOTAL REVENUE $29,440

Expense Breakdown

Grants Paid $1,049,090

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,061,008

Other Expenses $11,925

TOTAL EXPENSES $1,061,015

Year-over-Year Comparison

	2019	2018	Change
Revenue	$29,440	$137,464	-0.8%
Expenses	$1,061,015	$651,429	+0.6%
Net Income	$-1,031,575	$-513,965	+1.0%

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

$243,611

Total Directors

$728,749

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK FRATZKE	EX-OFFICIO (THRU 10/2019)	1.0	Director	$0	$20,882	$553,664
KYLE WICHELMANN	CFO (THRU 08/2019)	1.0	Officer	$0	$3,577	$243,611
MARY EILEEN DUB DREE	EX-OFFICIO (THRU 07/2019)	1.0	Director	$0	$3,500	$175,085
KENNETH E VARNER CCF	CHAIR	1.0	Officer Director	$0	$0	$0
LYN NELSON	VICE- CHAIR	1.0	Officer Director	$0	$0	$0
THOMAS ROCAS III	TREASURER	1.0	Officer Director	$0	$0	$0
AVE SELTSAM	SECRETARY	1.0	Officer Director	$0	$0	$0
VINCENT AGBAYANI	TRUSTEE (THRU 09/2019)	1.0	Director	$0	$0	$0
JACOB BEAMAN	TRUSTEE	1.0	Director	$0	$0	$0
WILSON CHU	TRUSTEE	1.0	Director	$0	$0	$0
THOMAS HAZLEHURST MD	TRUSTEE	1.0	Director	$0	$0	$0
BAROON RAI MD	TRUSTEE	1.0	Director	$0	$0	$0
GARY SIMMS	TRUSTEE	1.0	Director	$0	$0	$0
BILL TROYANOSKI	TRUSTEE	1.0	Director	$0	$0	$0
LORRAINE VIALE	TRUSTEE	1.0	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
2020	$29,440	$1,061,015	$4,444,935	$-1,031,575
2019	$137,464	$651,429	$5,525,053	$-513,965
2018	$324,595	$504,277	$6,232,003	$-179,682