Washington Regional Medical System… - Form 990 Financial Data

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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

1988

Legal Domicile

Phone

4794631120

Tax Period

2023-01-01 to 2023-12-31

Washington Regional Medical System Welfare Benefit Plan, founded in 1988, is a mid-sized nonprofit in the Mutual Benefit sector that reported $27.1M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum.

Mission

THE PLAN PROVIDES HEALTH AND DENTAL BENEFITS COVERING APPROXIMATELY 2,500 WASHINGTON REGIONAL MEDICAL SYSTEM EMPLOYEES.

Program Service Accomplishments

Program 1

THE PLAN PROVIDES HEALTH AND DENTAL BENEFITS COVERING APPROXIMATELY 2,500 WASHINGTON REGIONAL MEDICAL SYSTEM EMPLOYEES.

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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 $27,101,491

Investment Income $43,039

Other Revenue $0

TOTAL REVENUE $27,144,530

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,464,627

TOTAL EXPENSES $26,468,876

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,144,530	$21,788,422	+0.2%
Expenses	$26,468,876	$19,456,702	+0.4%
Net Income	$675,654	$2,331,720	-0.7%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	TRUSTEE	0.0		$3,117	$0	$3,117

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
2024	No data	No data	No data	No data
2023	$27,144,530	$26,468,876	$3,112,575	$675,654
2022	$21,788,422	$19,456,702	$2,596,891	$2,331,720
2021	$18,406,447	$21,677,458	$982,348	$-3,271,011
2020	$18,220,582	$15,758,513	$3,456,916	$2,462,069

Washington Regional Medical System Welfare Benefit Plan