Elliot Physicians Network Inc
Elliot Physicians Network Inc. consistently operates at a significant deficit, with liabilities far exceeding assets.
EIN: 20509589 · Manchester, NH · NTEE: E30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $41.7M |
| Total Expenses | $48.0M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $40 |
| Net Assets | $-5,053,778 |
| Transparency Score | 65/100 |
Is Elliot Physicians Network Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elliot Physicians Network Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elliot Physicians Network Inc
Elliot Physicians Network Inc (EIN: 20509589) is a nonprofit organization based in Manchester, NH, classified under NTEE code E30. The organization reported total revenue of $41.7M and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elliot Physicians Network Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Elliot Physicians Network Inc is a large nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $38.0M |
| Total Expenses | $48.0M |
| Surplus / Deficit | $-9,930,267 |
| Total Assets | $3.2M |
| Total Liabilities | $8.2M |
| Net Assets | $-5,053,778 |
| Operating Margin | -26.1% |
| Debt-to-Asset Ratio | 259.8% |
| Months of Reserves | 0.8 months |
Financial Health Grade: D
In 2023, Elliot Physicians Network Inc reported a deficit of $9.9M with expenses exceeding revenue, holds 0.8 months of operating reserves (limited), has a debt-to-asset ratio of 259.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Elliot Physicians Network Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.9% | +11.1% | +74.1% |
| 2022 | +3.7% | +6.8% | +2.8% |
| 2021 | +5.7% | -4.2% | -18.3% |
| 2020 | -6.4% | -4.4% | -5.4% |
| 2019 | +2.9% | +7.3% | -24.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Elliot Physicians Network Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Elliot Physicians Network Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $9.9M, with expenses exceeding revenue.
- Debt-to-asset ratio: 259.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an entity with over $40 million in annual revenue and suggests potential compensation through an affiliated entity or a volunteer leadership model.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Elliot Physicians Network Inc's IRS 990 filings:
- Consistent and significant annual operating deficits (e.g., $9.9M in 2023).
- Liabilities consistently far exceed assets (e.g., $8.2M liabilities vs. $3.1M assets in 2023).
- Lack of clarity on how consistent deficits are funded.
Strengths
The following positive indicators were identified for Elliot Physicians Network Inc:
- Consistent reporting of 0% officer compensation, indicating strong resource allocation away from executive pay.
- Long operating history with 13 filings, suggesting stability despite financial structure.
Frequently Asked Questions about Elliot Physicians Network Inc
Is Elliot Physicians Network Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Elliot Physicians Network Inc (EIN: 20509589) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Elliot Physicians Network Inc spend its money?
Elliot Physicians Network Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Elliot Physicians Network Inc tax-deductible?
Elliot Physicians Network Inc is registered as a tax-exempt nonprofit (EIN: 20509589). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Elliot Physicians Network Inc CEO make?
Elliot Physicians Network Inc's highest-compensated officer earns $40 annually. The organization reported $41.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Elliot Physicians Network Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Elliot Physicians Network Inc is above average for NTEE category E30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Elliot Physicians Network Inc located?
Elliot Physicians Network Inc is headquartered in Manchester, New Hampshire and files with the IRS under EIN 20509589. It is classified under NTEE code E30.
How many years of IRS 990 filings does Elliot Physicians Network Inc have?
Elliot Physicians Network Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $41.7M in total revenue.
Is Elliot Physicians Network Inc. financially sustainable given its consistent deficits?
The organization consistently reports expenses exceeding revenue, with a nearly $10 million deficit in 2023. This suggests a reliance on external funding or an operational model that does not prioritize self-sufficiency through direct revenue, raising questions about long-term financial sustainability without consistent external support.
Why are liabilities consistently much higher than assets?
In 2023, liabilities were $8,215,895 while assets were $3,162,117. This trend is consistent across all filings, indicating a significant debt burden or other financial obligations that far outweigh the organization's owned resources.
How does the organization fund its operations despite consistent deficits?
The consistent deficits imply that the organization must be receiving substantial funding from sources not reflected in its direct revenue, such as grants from a parent organization (e.g., Elliot Health System) or other philanthropic contributions, to cover its operational costs.
What is the nature of the 0% officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size. It suggests that officers may be compensated by an affiliated entity, or they are serving in a purely volunteer capacity, which would be a significant strength in terms of resource allocation.
Filing History
IRS 990 filing history for Elliot Physicians Network Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Elliot Physicians Network Inc's revenue has grown by 27.6%, moving from $29.8M to $38.0M. Total assets increased by 16.9% over the same period, from $2.7M to $3.2M. Total functional expenses rose by 38.1%, from $34.7M to $48.0M. In its most recent filing year (2023), Elliot Physicians Network Inc reported a deficit of $9.9M, with expenses exceeding revenue. The organization holds $8.2M in liabilities against $3.2M in assets (debt-to-asset ratio: 259.8%), resulting in net assets of $-5,053,778.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $38.0M | $48.0M | $3.2M | $8.2M | — | View 990 |
| 2022 | $35.3M | $43.1M | $1.8M | $8.5M | — | View 990 |
| 2021 | $34.0M | $40.4M | $1.8M | $11.2M | — | — |
| 2020 | $32.2M | $42.1M | $2.2M | $14.0M | — | View 990 |
| 2019 | $34.4M | $44.1M | $2.3M | $10.7M | — | View 990 |
| 2018 | $33.4M | $41.1M | $3.0M | $8.9M | — | View 990 |
| 2017 | $32.9M | $40.1M | $3.4M | $9.2M | — | View 990 |
| 2016 | $34.3M | $38.7M | $2.9M | $9.3M | — | View 990 |
| 2015 | $35.9M | $38.6M | $3.6M | $6.8M | — | View 990 |
| 2014 | $36.1M | $37.6M | $4.2M | $5.6M | — | View 990 |
| 2013 | $32.7M | $35.3M | $4.1M | $5.2M | — | View 990 |
| 2012 | $30.9M | $34.7M | $2.3M | $5.8M | — | View 990 |
| 2011 | $29.8M | $34.7M | $2.7M | $3.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $38.0M, expenses of $48.0M, and assets of $3.2M (revenue +7.9% year-over-year).
- 2022: Revenue of $35.3M, expenses of $43.1M, and assets of $1.8M (revenue +3.7% year-over-year).
- 2021: Revenue of $34.0M, expenses of $40.4M, and assets of $1.8M (revenue +5.7% year-over-year).
- 2020: Revenue of $32.2M, expenses of $42.1M, and assets of $2.2M (revenue -6.4% year-over-year).
- 2019: Revenue of $34.4M, expenses of $44.1M, and assets of $2.3M (revenue +2.9% year-over-year).
- 2018: Revenue of $33.4M, expenses of $41.1M, and assets of $3.0M (revenue +1.4% year-over-year).
- 2017: Revenue of $32.9M, expenses of $40.1M, and assets of $3.4M (revenue -3.9% year-over-year).
- 2016: Revenue of $34.3M, expenses of $38.7M, and assets of $2.9M (revenue -4.6% year-over-year).
- 2015: Revenue of $35.9M, expenses of $38.6M, and assets of $3.6M (revenue -0.4% year-over-year).
- 2014: Revenue of $36.1M, expenses of $37.6M, and assets of $4.2M (revenue +10.2% year-over-year).
- 2013: Revenue of $32.7M, expenses of $35.3M, and assets of $4.1M (revenue +6.0% year-over-year).
- 2012: Revenue of $30.9M, expenses of $34.7M, and assets of $2.3M (revenue +3.7% year-over-year).
- 2011: Revenue of $29.8M, expenses of $34.7M, and assets of $2.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Elliot Physicians Network Inc:
Data Sources and Methodology
This transparency report for Elliot Physicians Network Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.