Civic Intelligence

Trustbridge Inc.

990 • Fiscal year 2015 • EIN 20-3974015

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 02, 2016

5300 East AvenueWest Palm Beach, FL 33407

(561) 848-5200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

33rd percentile

0.19x

Higher debt load relative to assets than 33% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

57th percentile

0.62x

Higher debt load relative to revenue than 57% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Net Margin

30th percentile

0.0%

Higher net margin than 30% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Top Officer Pay

68th percentile

$695,784

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Asset Growth

32nd percentile

-1.1%

Faster asset growth than 32% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

80th percentile

16%

Faster revenue growth than 80% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Assets

Down

$165,723,355

Down $1,820,844 (-1.1%) from 2014

Net Assets

Down

$134,558,382

Down $13,110,139 (-8.9%) from 2014

Liabilities

Up

$31,164,973

Up $11,289,295 (+57%) from 2014

Revenue

Up

$50,506,223

Up $7,087,699 (+16%) from 2014

Expenses

Up

$50,482,655

Up $4,968,115 (+11%) from 2014

Net Income

Up

$23,568

Up $2,119,584 (+101%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $4,569,994Liabilities 2010: $847,872Net Assets 2010: $3,722,1222010Assets 2011: $7,083,968Liabilities 2011: $3,361,846Net Assets 2011: $3,722,1222011Assets 2012: $8,042,164Liabilities 2012: $5,785,039Net Assets 2012: $2,257,1252012Assets 2013: $9,452,542Liabilities 2013: $7,248,898Net Assets 2013: $2,203,6442013Assets 2014: $167,544,199Liabilities 2014: $19,875,678Net Assets 2014: $147,668,5212014Assets 2015: $165,723,355Liabilities 2015: $31,164,973Net Assets 2015: $134,558,3822015Assets 2016: $166,624,745Liabilities 2016: $22,509,639Net Assets 2016: $144,115,1062016Assets 2017: $193,062,901Liabilities 2017: $36,196,300Net Assets 2017: $156,866,6012017Assets 2018: $185,207,839Liabilities 2018: $41,253,226Net Assets 2018: $143,954,6132018Assets 2019: $205,142,681Liabilities 2019: $40,858,193Net Assets 2019: $164,284,4882019Assets 2020: $222,634,229Liabilities 2020: $41,085,111Net Assets 2020: $181,549,1182020Assets 2021: $246,958,049Liabilities 2021: $42,249,760Net Assets 2021: $204,708,2892021Assets 2022: $217,792,635Liabilities 2022: $50,681,438Net Assets 2022: $167,111,1972022Assets 2023: $213,278,639Liabilities 2023: $48,083,607Net Assets 2023: $165,195,0322023Assets 2024: $221,532,335Liabilities 2024: $37,573,445Net Assets 2024: $183,958,8912024

Highlighted filing

2015

Assets$165,723,355
Liabilities$31,164,973
Net Assets$134,558,382

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $1,467,8282010Expenses 2011: $21,644,1982011Expenses 2012: $30,805,4172012Revenue 2013: $7,477,470Expenses 2013: $7,656,472Net Income 2013: -$179,0022013Revenue 2014: $43,418,524Expenses 2014: $45,514,540Net Income 2014: -$2,096,0162014Revenue 2015: $50,506,223Expenses 2015: $50,482,655Net Income 2015: $23,5682015Revenue 2016: $47,520,057Expenses 2016: $47,514,365Net Income 2016: $5,6922016Revenue 2017: $49,183,323Expenses 2017: $49,212,674Net Income 2017: -$29,3512017Revenue 2018: $46,715,136Expenses 2018: $47,177,691Net Income 2018: -$462,5552018Revenue 2019: $44,618,766Expenses 2019: $43,619,014Net Income 2019: $999,7522019Revenue 2020: $46,222,599Expenses 2020: $45,057,324Net Income 2020: $1,165,2752020Revenue 2021: $48,624,490Expenses 2021: $49,550,220Net Income 2021: -$925,7302021Revenue 2022: $47,927,376Expenses 2022: $49,739,877Net Income 2022: -$1,812,5012022Revenue 2023: $49,681,074Expenses 2023: $49,385,477Net Income 2023: $295,5972023Revenue 2024: $40,324,125Expenses 2024: $40,397,982Net Income 2024: -$73,8572024

Highlighted filing

2015

Revenue$50,506,223
Expenses$50,482,655
Net Income$23,568
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 2, 2016
Return Version
2015v2.1
Gross Receipts
$50,527,285
Mission and Program Overview

Mission

Trustbridge, inc. Is organized & operated exclusively for the purpose of providing management, administrative, & other support services to its supported organizations: hospice of palm beach county, inc., hospice by the sea inc. And affiliates.

The organization is operated exclusively for the purpose of providing management and other support services to the hospice of palm beach county, and other related tax exempt organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$147,560,893$134,510,442▼ $13,050,451
Land, Buildings, and Equipment, Net$3,026,789$2,981,249▼ $45,540
Cash and Non-Interest-Bearing Accounts$943,276$2,812,103▲ $1,868,827
Prepaid Expenses and Deferred Charges$376,685$653,404▲ $276,719
Inventories for Sale or Use$553,647$277,479▼ $276,168
Accounts Receivable$3,847$0▼ $3,847
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Intangible Assets$0--
Total Assets$167,544,199$165,723,355▼ $1,820,844
Other Assets Total$15,079,062$24,488,678▲ $9,409,616
Liabilities
Other Liabilities$4,084,416$11,402,408▲ $7,317,992
Mortgage Notes Payable Secured by Investment Property$6,511,867$10,708,000▲ $4,196,133
Accounts Payable and Accrued Expenses$9,279,395$9,054,565▼ $224,830
Total Liabilities$19,875,678$31,164,973▲ $11,289,295
Net Assets / Fund Balance
Unrestricted Net Assets$122,267,681$109,173,731▼ $13,093,950
Temporarily Rstr Net Assets$21,609,616$21,653,156▲ $43,540
Permanently Rstr Net Assets$3,791,224$3,731,495▼ $59,729
Total Net Assets Fund Balance$147,668,521$134,558,382▼ $13,110,139
Total Liabilities and Net Assets / Fund Balance$167,544,199$165,723,355▼ $1,820,844

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,456,091$2,377,653$4,833,744
Other Land Buildings$482,720$0$482,720
Leasehold Improvements$42,438$334,924$377,362
Investment Program Related Org$134,510,442--
Other Assets Org$22,211,157--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$3,181,629-▼ $46,164-$3,135,465
2014$2,847,208$217,978▲ $116,443-$3,181,629
2013$2,736,057-▲ $111,151-$2,847,208
2012$2,510,418-▲ $225,639-$2,736,057
2011$2,254,125-▲ $256,293-$2,510,418
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-CEOPT$406,674$289,110$695,784
-president (PARTIAL YEAR)PT$31,595$576,534$608,129
-Executive Vice President & COOPT$335,788$163,827$499,615
-Director Medical EducationFT$377,105$67,375$444,480
-Vice President, CFO (partial Year)PT$170,259$273,371$443,630
-Medical DirectorFT$364,656$40,886$405,542
-Chief Medical OfficerPT$274,754$123,887$398,641
-Vice President, ChroPT$189,021$94,444$283,465
-Associate Medical DirectorFT$264,416$13,269$277,685
-Chief Clinical OfficerPT$163,117$82,073$245,190
-VP sustaining innovationPT$153,803$72,518$226,321
-VP Patient AccessPT$149,245$57,645$206,890
-VP Finance (PARTIAL YEAR)PT$144,658$827$145,485

Board Members and Trustees

NameTitle
-Chairman
-Vice Chair
-Director
-Secretary
-Secretary (partial Year)
-Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Trillium Construction IncConstruction1450-B Kinetic Road, Lake Park, FL 33403$6,151,031
Homecare Homebase INCIt Consulting6688 NORTH CENTRAL EXPRESSWAY, Dallas, TX 75206$890,795
Quality TransportationCourier Services18 PARK PLACE DEPT 09, Paramus, NJ 07652$869,385
API Healthcare CorporationSoftware1550 Innovation Way, Hartford, WI 53027$612,195
Opus Solutions LLCconsultingPO Box 4581, warren, NJ 07059$573,204
Revenue and Support

Revenue Composition

Contributions and Grants
$2,535,647
Program Service Revenue
$47,892,942
Investment Income
$23,568
Other Revenue
$54,066
Change in Net Assets
$23,568
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$29,010,524
Other Expenses$21,472,131
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$20,427,412--$20,427,412
Depreciation Depletion$4,978,487--$4,978,487
Current Officers, Directors, Trustees, and Key Employees$3,753,150--$3,753,150
Fees for Services Other$3,033,813$0$0$3,033,813
Information Technology$2,966,270--$2,966,270
Other Employee Benefits$2,738,871--$2,738,871
Occupancy$2,484,520--$2,484,520
Office Expenses$1,579,883--$1,579,883
Payroll Taxes$1,523,679--$1,523,679
Advertising$902,878--$902,878
Insurance$610,379--$610,379
Pension Plan Contributions$567,412--$567,412
Travel$542,670--$542,670
Conferences and Meetings$520,962--$520,962
Fees for Services Accounting$375,802--$375,802
Other Expenses$367,426--$367,426
Fees for Services Legal$193,206--$193,206
Interest$91,286--$91,286
Total Functional Expenses$50,482,655$0$0$50,482,655
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to affiliate$11,402,408
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER EMPLOYEES

the compensation of ALL OTHER OFFICERS is determined by THE CEO OF TRUSTBRIDGE, inc.. THE CEO USES COMPARABILITY DATA and AN INDEPENDENT COMPENSATION CONSULTANT TO DETERMINE THE COMPENSATION. THE DECISIONS ARE DOCUMENTED IN EACH EMPLOYEE'S FILE.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The form 990 is prepared and initially reviewed by the VP of Finance and the tax accounting firm. When a final draft is ready, it is sent to the Audit Committee of the Board of Directors for final review and approval. The Audit Committee then presents the 990 to the full Board of Directors for approval, after which the 990 is filed with the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

The organization sends out the conflict of interest questionnaires to board members and officers annually. The responses to the questionnaires are monitored and collected by the vp of finance. Should a conflict exist the person with the conflict will abstain from voting on the issue in question.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The Compensation Committee of the Board of Directors uses a comparative salary survey and an independent compensation consultant for the CEO. The compensation committee's recommended compensation is approved by the board of directors. This review last took place in March 2015 and is documented in the board and committee minutes.

Form 990, Part VI, Line 19 Required documents available to the public

Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (irc) section 6104. These documents are not available to the public at this time.

Form 990, Part VII, Section A ADDITIONAL INFORMATION REGARDING COMPENSATION

David Fielding Mr. Fielding serves as CEO for TrustBridge, Inc., Hospice of Palm Beach County, hospice by the sea, inc., Focus Care Home Health, Inc., Harbor Palliative Care Services, Inc. and The Medical Store, Inc. His time is shared by all entities. Other Compensation is for his employee health and retirement benefits which are under the same plans provided to all employees. In addition the organization offers a 457f retirement plan for Management and officers. Randy Prange Mr. Prange serves as COO for TrustBridge, Inc, Hospice of Palm Beach County, Hospice BY THE SEA, INC., Focus Care Home Health, Inc., Harbor Palliative Care Services, Inc. and The Medical Store, Inc. His time is shared equally by all entities. Other Compensation is for his employee health and retirement benefits which are under the same plans provided to all employees. In addition the organization offers a 457f retirement plan for Management and officers. Richard Calcote Mr. Calcote served as the CFO for TrustBridge, Inc, Hospice of Palm Beach County Foundation, Inc., Hospice of Palm Beach County, Hospice BY THE SEA, INC., HOSPICE BY THE SEA FOUNDATION, INC., Focus Care Home Health, Inc., Harbor Palliative Care Services, Inc. and The Medical Store. His time was shared equally by all entities. Other Compensation is for his employee health and retirement benefits which are under the same plans provided to all employees. In addition the organization offers a 457f retirement plan for Management and officers. Mr. Calcote is no longer with the organization. PEDRO A. HERRERA Mr. HERRERA serves as the VP OF FINANCE for TrustBridge, Inc, Hospice of Palm Beach County Foundation, Inc., Hospice of Palm Beach County, Hospice BY THE SEA, INC., HOSPICE BY THE SEA FOUNDATION, INC., Focus Care Home Health, Inc., Harbor Palliative Care Services, Inc. and The Medical Store. His time is shared equally by all entities. Other Compensation is for his employee health and retirement benefits which are under the same plans provided to all employees. Dr. Faustino Gonzalez, M.D. Dr. Gonzalez serves as a Chief Medical Officer for TrustBridge, Inc., Hospice of Palm Beach County and Hospice by The Sea, Inc. His time is shared equally by all entities. A portion of his Compensation is from his Physician Fees for Service. Other Compensation is for his employee health and retirement benefits which are under the same plans provided to all employees. In addition the organization offers a 457f retirement plan for Management and officers. Fred Watson Mr. Watson serves as CHRO for TrustBridge, Inc, Hospice of Palm Beach County, HOSPICE BY THE SEA, INC., Focus Care Home Health, Inc. AND Harbor Palliative Care Services, Inc. His time is shared equally by all entities. Other Compensation is for his employee health and retirement benefits which are under the same plans provided to all employees. In addition the organization offers a 457f retirement plan for Management and officers. Amy CANNIZZO-Brennan MRs. Cannizzo-Brennan serves as the VP sustaining innovation for TrustBridge, Inc., Hospice of Palm Beach County AND HOSPICE BY THE SEA, INC. Her time is shared equally by all entities. Other Compensation is for her employee health and retirement benefits which are under the same plans provided to all employees. In addition the organization offers a 457f retirement plan for Management and officers. PAULA ALDERSON. Mrs. Alderson served as a president for TrustBridge, Inc., Hospice of Palm Beach County, Hospice by the Sea, inc., hospice by the sea foundation, inc., Focus Care Home Health, Inc., and Harbor Palliative Care Services, Inc. Her time was shared equally by all entities. Other Compensation is for her employee health and retirement benefits which are under the same plans provided to all employees. In addition the organization offers a 457f retirement plan for Management and officers. Mrs. Alderson is no longer with the organization. JAQUELINE DEVINE Mrs. DEVINE serves as the Chief Clinical offi

Filing and Contact Details

Filer

Filer Name
Trustbridge Inc
EIN
20-3974015
Phone
5618485200
Address
5300 East Avenue, West Palm Beach, FL 33407

Signing Officer

Name
Pedro Herrera
Title
Vice President of Finance
Signed
2016-11-02
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Fl
Voting Board Members
10
Independent Board Members
10
Employees
368
Volunteers
10

Preparer

Firm
Crowe Horwath Llp
Address
225 West Wacker Drive, Suite 2600, Chicago, IL 60606-1224
Preparer
Nicole Bencik
Phone
3128997000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Net Asset Transfer to Affiliates-TMS - -83256; CHANGE IN NET ASSETS OF AFFILIATES - -13050451;

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

The endowment funds, which are held by Hospice of Palm Beach County Foundation, Inc. are intended to be used to support the programs and activities of Hospice of Palm Beach County, Inc., Hospice by the Sea and all related organizations.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

TrustBridge and the affiliate organizations are exempt from income taxes on income from related activities under Section 501(c)(3) of the U.S. Internal Revenue Code and corresponding state tax law. Accordingly, no provision has been made for federal or state income taxes. U.S. GAAP requires that a tax position is recognized as a benefit only if it is 'more likely than not' that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test no tax benefit is recorded. Due to its tax-exempt status, TrustBridge and its affiliates are not subject to U.S. federal income tax or state income tax. The applicable Forms 990 have not been subject to examination by the Internal Revenue Service or the state of Florida for the last three years. The Organization does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The Organization recognizes interest and/or penalties related to income tax matters in income tax expense. The Organization did not have any amounts accrued for interest and penalties at December 31. 2015 and 2014.

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IRS990/MissionDesc0TRUSTBRIDGE, INC. IS ORGANIZED & OPERATED EXCLUSIVELY FOR THE PURPOSE OF PROVIDING MANAGEMENT, ADMINISTRATIVE, & OTHER SUPPORT SERVICES TO ITS SUPPORTED ORGANIZATIONS: HOSPICE OF PALM BEACH COUNTY, INC. HOSPICE BY THE SEA INC. AND AFFILIATES.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$222$37.6$184$40.3$40.4$0.07
2023Summary only. Only limited summary data is available for this year.$213$48.1$165$49.7$49.4$0.30
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$218$50.7$167$47.9$49.7$1.81
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$247$42.2$205$48.6$49.6$0.93
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$223$41.1$182$46.2$45.1$1.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$205$40.9$164$44.6$43.6$1.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$185$41.3$144$46.7$47.2$0.46
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$193$36.2$157$49.2$49.2$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$167$22.5$144$47.5$47.5$0.01
2015Detailed filing. Detailed filing data is available for this year.$166$31.2$135$50.5$50.5$0.02
2014Detailed filing. Detailed filing data is available for this year.$168$19.9$148$43.4$45.5$2.10
2013Summary only. Only limited summary data is available for this year.$9.45$7.25$2.20$7.48$7.66$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.04$5.79$2.26$30.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.08$3.36$3.72$21.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.57$0.85$3.72$1.47
Peer Organizations

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