REDINGTON MEMORIAL HOSPITAL ASSOC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

RICHARD WILLETT

Phone

2074745121

Tax Period

2023-07-01 to 2024-06-30

REDINGTON MEMORIAL HOSPITAL ASSOC, founded in 1937, is a community nonprofit in the Health Care sector that reported $2.4M in total revenue in fiscal year 2023. Revenue surged 51% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 54% operating margin.

Mission

REDINGTON MEMORIAL HOSPITAL ASSOCIATION'S SOLE MISSION IS TO SUPPORT & BENEFIT REDINGTON FAIRVIEW GENERAL HOSPITAL, A 501(C)(3) ORGANIZATION.

Program Service Accomplishments

Program 1

Expenses: $872,398

REDINGTON MEMORIAL HOSPITAL ASSOCIATIONS'S SOLE MISSION IS TO SUPPORT AND BENEFIT REDINGTON FAIRVIEW GENERAL HOSPITAL,A 501(C)(3)ORGANIZATION. ACCORDINGLY,THE CORPORATION DONATED 872,398 TO THE...

REDINGTON MEMORIAL HOSPITAL ASSOCIATIONS'S SOLE MISSION IS TO SUPPORT AND BENEFIT REDINGTON FAIRVIEW GENERAL HOSPITAL,A 501(C)(3)ORGANIZATION. ACCORDINGLY,THE CORPORATION DONATED 872,398 TO THE HOSPITAL'S CHARITABLE PURPOSES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $2,359,818

Other Revenue $25,759

TOTAL REVENUE $2,385,577

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,490

Fundraising Expenses $0

Program Expenses $872,398

Other Expenses $1,082,121

TOTAL EXPENSES $1,097,611

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,385,577	$1,575,337	+0.5%
Expenses	$1,097,611	$898,728	+0.2%
Net Income	$1,287,966	$676,609	+0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$497,430

Total Directors

$237,970

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD WILLETT	SECRETARY, N	2.00	Officer	$0	$11,083	$481,940
MICHAEL LAMBKE MD	DIRECTOR	2.00	Director	$0	$2,813	$237,970
SUSAN D FORBUS	TREASURER, N	8.00	Officer	$15,490	$0	$15,490
SAM HIGHT	DIRECTOR	2.00	Director	$0	$0	$0
ROGER RENFREW MD	DIRECTOR	2.00	Director	$0	$0	$0
JONATHAN MOODY	DIRECTOR	2.00	Director	$0	$0	$0
BEVERLY NOONAN	DIRECTOR	2.00	Director	$0	$0	$0
RYAN RUTLEDGE	DIRECTOR	2.00	Director	$0	$0	$0
PETER SCHULTZ	DIRECTOR	2.00	Director	$0	$0	$0
LOUIS HIGHT	PRESIDENT	2.00	Officer	$0	$0	$0
WILLIAM LANEY	VICE PRESIDE	2.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$2,385,577	$1,097,611	$36,970,614	$1,287,966
2023	$1,575,337	$898,728	$33,713,313	$676,609
2022	$2,508,848	$1,106,630	$32,233,915	$1,402,218
2021	$2,383,923	$840,012	$35,554,390	$1,543,911