New York

New York Community Health Center Financial Analytics Dashboard Summary

The New York Community Health Center Financial Analytics Dashboard summary aggregates the audited financial statement data for fiscal years 2016 to 2021 of 62 community health centers in New York.

Click the button below to access the dashboard and view community health center-specific data or keeping scrolling down to view state-level summary data.

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Key State-Level Findings

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Finding #1: Audits for 62 community health centers are included

Audits for most community health centers were available for public review via the Federal Audit Clearing House.

Annual “audit available” comparison analytics

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Finding #2: Total revenues exceeded $9.5B in 2021

Year-over-year average total revenue growth was significant, representing a 28% increase from 2016 to 2021.

Revenues vs. Expenses Analytics

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Finding #3: Total assets exceeded $10.2B in 2021

Year-over-year average total asset growth was significant, representing a 103% increase from 2016 to 2021.

Assets vs. Liabilities Analytics

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Finding #4: Total Net Operating Income was a deficit $172M in 2021

Year-over-year average total net operating income decline was significant, representing a 329% decrease from 2016 to 2021.

Note: The decline was attributable to losses sustained by the Montifiore Health System.

Net Operating Income Analytics

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Finding #5: Average Operating Margins exceeded 9.7% in 2021

Average operating margins increased 40% from 2016 to 2021, representing a six-year high in 2021.

Note: The operating margin is a profitability metric used to measure the percentage of revenue a health center keeps as operating profit—2-4% is ideal.

Operating Margin Analytics

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Finding #6: Net Assets approached $2.9B in 2021

Year-over-year average net asset growth was significant, representing a 33% increase from 2016 to 2021.

Net Asset Analytics

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Finding #7: Average Return on Net Assets (RONA) decreased to -0.55% in 2021

The average RONA decreased by 107% from 2016 to 2021. The period high of 146.4% occurred in 2020.

Note: The return on net assets (RONA) metric is a profitability metric that measures how well health center management deploys assets. Higher values indicate management squeezing more earnings from each dollar invested in assets. RONA is also used to assess how well a health center is performing compared to others in its sector (5% is good; 20%+ is great).

Return on Net Assets (RONA)
Analytics

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Finding #8: Salaries as a % of revenues exceeded 55% in 2021

The average salary expenditures as a percentage of total revenues declined from a high of 61% in 2019 to a low of 55% in 2021.

Note: The salary expense to revenue metric is an operational efficiency metric that measures how much-earned revenue is allocated to payroll costs and employee benefits—45% – 55% is the sector average.

Salaries vs. Revenues
Analytics

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Finding #9: Average days of cash on hand exceeded 117 days in 2021

The average days of cash on hand increased by 105%, from 57 days in 2016 to a six-year high of 117 days in 2021.

Note: Days of cash on hand is a liquidity metric used to measure financial security. It is calculated as total cash and cash equivalents divided by current liabilities. It estimates the days a health center can pay its daily operation and maintenance costs before running out of cash—180 days minimum is ideal.

Days of Cash Analytics

Finding #10: Average current ratio exceeded 3.0 in 2021

The average current ratio increased by 1% from 3.26 in 2016 to 3.3 in 2021.

Note: The current ratio is a liquidity metric used to measure a health center’s ability to pay short-term obligations or those due within one year (2.0+ is ideal).

Current Ratio Analytics

Finding #11: Average fixed assets as a % of net assets declined to 48.97% in 2021

The average fixed assets as a percentage of net assets declined from 328.3% in 2016 to 120.76% in 2021.

Note: The fixed asset to net asset metric is an asset utilization metric that measures, in percentage terms, the portion of total assets that are tied up with fixed assets. It shows the extent to which unrestricted net assets are frozen in the form of fixed assets, such as property, plant, and equipment. Lower percentages are better, with percentages in excess of 100% indicating a reliance on debt to finance fixed asset purchases.