Civic Intelligence

Trustbridge Inc.

990 • Fiscal year 2018 • EIN 20-3974015

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 12, 2019

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

40th percentile

0.22x

Higher debt load relative to assets than 40% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

0.88x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

25th percentile

-1.0%

Higher net margin than 25% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

78th percentile

$964,213

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

16th percentile

-4.1%

Faster asset growth than 16% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

18th percentile

-5.0%

Faster revenue growth than 18% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Down

$185,207,839

Down $7,855,062 (-4.1%) from 2017

Net Assets

Down

$143,954,613

Down $12,911,988 (-8.2%) from 2017

Liabilities

Up

$41,253,226

Up $5,056,926 (+14%) from 2017

Revenue

Down

$46,715,136

Down $2,468,187 (-5.0%) from 2017

Expenses

Down

$47,177,691

Down $2,034,983 (-4.1%) from 2017

Net Income

Down

-$462,555

Down $433,204 (-1476%) from 2017

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

2018

Assets$185,207,839
Liabilities$41,253,226
Net Assets$143,954,613

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

2018

Revenue$46,715,136
Expenses$47,177,691
Net Income-$462,555
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 12, 2019
Return Version
2018v3.1
Gross Receipts
$46,738,086
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$168,806,166$157,154,086▼ $11,652,080
Cash and Non-Interest-Bearing Accounts$1,791,931$2,393,296▲ $601,365
Land, Buildings, and Equipment, Net$2,769,316$1,962,802▼ $806,514
Prepaid Expenses and Deferred Charges$1,635,963$1,773,421▲ $137,458
Inventories for Sale or Use$151,075$159,668▲ $8,593
Accounts Receivable$0$1,119▲ $1,119
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Loans From Officers Directors$0$0→ $0
Total Assets$193,062,901$185,207,839▼ $7,855,062
Other Assets Total$17,908,450$21,763,447▲ $3,854,997
Liabilities
Tax Exempt Bond Liabilities$24,843,751$24,218,755▼ $624,996
Accounts Payable and Accrued Expenses$11,280,538$11,086,515▼ $194,023
Other Liabilities$72,011$3,947,956▲ $3,875,945
Mortgage Notes Payable Secured by Investment Property$0$2,000,000▲ $2,000,000
Total Liabilities$36,196,300$41,253,226▲ $5,056,926
Net Assets / Fund Balance
Unrestricted Net Assets$127,333,963$116,498,921▼ $10,835,042
Temporarily Rstr Net Assets$25,742,160$23,744,500▼ $1,997,660
Permanently Rstr Net Assets$3,790,478$3,711,192▼ $79,286
Total Net Assets Fund Balance$156,866,601$143,954,613▼ $12,911,988
Total Liabilities and Net Assets / Fund Balance$193,062,901$185,207,839▼ $7,855,062

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,648,506$6,361,774$8,010,280
Leasehold Improvements$28,237$371,313$399,550
Other Land Buildings$286,059-$286,059
Investment Program Related Org$157,154,086--
Other Assets Org$267,831--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$3,283,772-▼ $231,879$375,602$2,676,291
2017$3,215,149-▲ $375,602$306,979$3,283,772
2016$3,135,465-▲ $179,684$100,000$3,215,149
2015$3,181,629-▼ $46,164-$3,135,465
2014$2,847,208$217,978▲ $116,443-$3,181,629
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-EXECUTIVE VICE PRESIDENT & COO (partial year)PT$272,404$691,810$964,214
-CEOPT$436,122$492,885$929,007
-Associate Medical DirectorFT$540,042$32,317$572,359
-Director Medical EducationFT$487,589$50,867$538,456
-CFOPT$255,405$96,138$351,543
-Vice President, ChroPT$213,191$114,494$327,686
-VP Excellence/Corp Comp OfficerPT$198,650$78,829$277,480
-VP Business RelationsFT$67,805$38,203$106,008

Board Members and Trustees

NameTitle
-Chair
-DIRECTOR, immediate past chair
-Vice Chair
-Director
-Director (partial year)
-Secretary
-Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Homecare Homebase INCIt Consulting6688 NORTH CENTRAL EXPRESSWAY, Dallas, TX 75206$968,173
Trillium Construction IncConstruction1450-B Kinetic Road, Lake Park, FL 33403$964,643
Otd CourierCourier Services3620 N E 5TH AVENUE, Oakland Park, FL 33334$874,462
Excelsior Defense IncSecurity Services2660 5th Ave N, St Petersburg, FL 33713$560,980
Overtime Building Maintenance IncMaintenance Services1335 Old Okeechobee Road 500, West Palm Beach, FL 33401$216,030
Revenue and Support

Revenue Composition

Contributions and Grants
$355,330
Program Service Revenue
$46,285,583
Investment Income
$-3,025
Other Revenue
$77,248
Change in Net Assets
$-462,555
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$28,964,422
Other Expenses$18,213,269
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$21,300,698--$21,300,698
Depreciation Depletion$3,998,423--$3,998,423
Information Technology$3,105,742--$3,105,742
Current Officers, Directors, Trustees, and Key Employees$2,955,935--$2,955,935
Occupancy$2,793,107--$2,793,107
Other Employee Benefits$2,628,383--$2,628,383
Payroll Taxes$1,492,995--$1,492,995
Office Expenses$1,221,350--$1,221,350
Advertising$1,142,559--$1,142,559
Fees for Services Other$1,124,500$0$0$1,124,500
Interest$807,309--$807,309
Travel$763,121--$763,121
Insurance$713,242--$713,242
Pension Plan Contributions$586,411--$586,411
Fees for Services Legal$446,542--$446,542
Other Expenses$236,777--$236,777
Conferences and Meetings$236,699--$236,699
Fees for Services Accounting$212,425--$212,425
Total Functional Expenses$47,177,691$0$0$47,177,691
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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$3,947,956

Bond Issues

BondIssuerIssuedIssue PricePurpose
APalm Beach County Health Facilities Authority2017-08-28$25,000,000current & advanced refunding of Palm Beach County, FL variable rate demand revenue bonds Series 2001

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$25,000,000$25,000,000$781,245$0

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 CFO 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 cfo. 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 2018 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 SERVED 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 WAS SHARED EQUALLY BY ALL ENTITIES. OTHER COMPENSATION WAS 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. MARK R. HUNTLEY MR. HUNTLEY SERVES AS THE CFO FOR TRUSTBRIDGE, INC, TrustBridge FOUNDATION, 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. 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 EXCELLENCE / CORP COMP OFFICER 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. 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. DOMINIQUE Renaud Mrs. Renaud serves as the Vice president of Business Relations for TRUSTBRIDGE, INC. 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. Dr. RICHARD L. TEITZMAN, D.O. Dr. Teitzman is AN ASSOCIATE MEDICAL DIRECTOR of TrustBridge, Inc. AND Hospice of Palm Beach County. His time is provided equally to all entities. A portion of his Compensation is from 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. Dr. Barry Miskin, M.D. Dr. Miskin provides medical services to TrustBridge, Inc. AND Hospice of Palm Beach County. His time is provided equally to all entities. A portion of his Compensation is from 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. Dr. Carlos A. Villalba Dr. Villalba provides medical services to TrustBridge, Inc. AND Hospice of Palm Beach County. His time is provided equally to all entities. A portion of his Compensation is from 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. Dr. Mari

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
Mark R Huntley
Title
chief financial officer
Signed
2019-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
8
Employees
316
Volunteers
9

Preparer

Firm
Crowe Llp
Address
401 East Las Olas Blvd Suite 1100, Fort Lauderdale, FL 33301-4230
Preparer
brittney kocaj
Phone
9542028600
Supplemental Narrative

Additional Explanations

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

CHANGE IN NET ASSETS OF AFFILIATES - -11652082; Transfer to affiliates - -1029029; unrealized gain on interest rate swap agreement - 231678;

Financial Statement Notes

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

The endowment funds, which are held by TrustBridge 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. 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, 2018 and 2017.

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Document Assets

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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
2018Detailed filing. Detailed filing data is available for this year.$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