Quantum Health Care Associates Inc
Quantum Health Care Associates Inc experienced a significant financial deficit and asset decline in 2023 after a surplus in 2022.
EIN: 208951125 · Hazard, KY · NTEE: E30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.4M |
| Total Expenses | $5.5M |
| Program Spending | 80% |
| Net Assets | $65K |
| Transparency Score | 70/100 |
Is Quantum Health Care Associates Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Quantum Health Care Associates Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Quantum Health Care Associates Inc
Quantum Health Care Associates Inc (EIN: 208951125) is a nonprofit organization based in Hazard, KY, classified under NTEE code E30. The organization reported total revenue of $1.4M and total assets of $633K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Quantum Health Care Associates Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Quantum Health Care Associates Inc is a mid-size nonprofit that has been operating for 4 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of -14.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.0M |
| Total Expenses | $5.5M |
| Surplus / Deficit | $-552,474 |
| Total Assets | $91K |
| Total Liabilities | $26K |
| Net Assets | $65K |
| Operating Margin | -11.1% |
| Debt-to-Asset Ratio | 28.9% |
| Months of Reserves | 0.2 months |
Financial Health Grade: C
In 2023, Quantum Health Care Associates Inc reported a deficit of $552K with expenses exceeding revenue, holds 0.2 months of operating reserves (limited), has a debt-to-asset ratio of 28.9% (moderate leverage).
Financial Trends
Over 2 years of filings (2022–2023), Quantum Health Care Associates Inc's revenue has declined at a compound annual growth rate (CAGR) of -14.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -14.6% | +6.2% | -88.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2022 |
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 Quantum Health Care Associates Inc with a Mission Score of 70 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Quantum Health Care Associates Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $552K, with expenses exceeding revenue.
- Debt-to-asset ratio: 28.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% for both periods, indicating that no officers received compensation, which is a positive sign for directing resources to the organization's mission.
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 Quantum Health Care Associates Inc's IRS 990 filings:
- Significant financial deficit in 2023 ($552,474)
- Substantial decline in assets from $814,806 in 2022 to $91,419 in 2023
- Expenses ($5,516,761) exceeded revenue ($4,964,287) in 2023
Strengths
The following positive indicators were identified for Quantum Health Care Associates Inc:
- No officer compensation reported (0% in both periods), indicating efficient use of funds for leadership costs.
- Strong revenue generation in 2022 ($5,810,355).
Frequently Asked Questions about Quantum Health Care Associates Inc
Is Quantum Health Care Associates Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Quantum Health Care Associates Inc (EIN: 208951125) some concerns. Mission Score: 70/100. 3 red flags identified, 2 strengths noted.
How does Quantum Health Care Associates Inc spend its money?
Quantum Health Care Associates Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Quantum Health Care Associates Inc tax-deductible?
Quantum Health Care Associates Inc is registered as a tax-exempt nonprofit (EIN: 208951125). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Quantum Health Care Associates Inc's spending goes to programs?
Quantum Health Care Associates Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Quantum Health Care Associates Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Quantum Health Care Associates 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 Quantum Health Care Associates Inc located?
Quantum Health Care Associates Inc is headquartered in Hazard, Kentucky and files with the IRS under EIN 208951125. It is classified under NTEE code E30.
How many years of IRS 990 filings does Quantum Health Care Associates Inc have?
Quantum Health Care Associates Inc has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $1.4M in total revenue.
Is Quantum Health Care Associates Inc financially stable?
The organization's financial stability appears to be declining, as evidenced by the shift from a $617,853 surplus in 2022 to a $552,474 deficit in 2023, and a substantial decrease in assets from $814,806 to $91,419.
What caused the significant decrease in assets from 2022 to 2023?
The provided data does not specify the exact reasons for the asset decline from $814,806 to $91,419. Further investigation into their financial statements would be needed to understand this change.
How does Quantum Health Care Associates Inc fund its operations given the 2023 deficit?
The 2023 deficit of $552,474 suggests that the organization spent more than it earned. This could be covered by drawing down reserves (reflected in the asset decrease) or through future funding, but it's not sustainable long-term.
Filing History
IRS 990 filing history for Quantum Health Care Associates Inc showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Quantum Health Care Associates Inc's revenue has declined by 14.6%, moving from $5.8M to $5.0M. Total assets decreased by 88.8% over the same period, from $815K to $91K. Total functional expenses rose by 6.2%, from $5.2M to $5.5M. In its most recent filing year (2023), Quantum Health Care Associates Inc reported a deficit of $552K, with expenses exceeding revenue. The organization holds $26K in liabilities against $91K in assets (debt-to-asset ratio: 28.9%), resulting in net assets of $65K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.0M | $5.5M | $91K | $26K | — | View 990 |
| 2022 | $5.8M | $5.2M | $815K | $197K | — | — |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Quantum Health Care Associates Inc:
Data Sources and Methodology
This transparency report for Quantum Health Care Associates 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.