DULUTH, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)ESSENTIA HEALTH, founded in 2003, is a major nonprofit in the Health Care sector that reported $400.8M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $383.0M left a modest 4% surplus.
WE ARE CALLED TO MAKE A HEALTHY DIFFERENCE IN PEOPLE'S LIVES.
ESSENTIA HEALTH IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND RELIGIOUS PURPOSES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY...
ESSENTIA HEALTH IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND RELIGIOUS PURPOSES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF ITS SUPPORTED ORGANIZATIONS AS LISTED ON SCHEDULE A OF FORM 990, ALL OF WHICH ARE ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986.ESSENTIA HEALTH IS THE PARENT ORGANIZATION OF AN INTEGRATED HEALTH SYSTEM THAT INCLUDES ALL ENTITIES THAT ARE OWNED OR CONTROLLED, DIRECTLY OR INDIRECTLY, BY ESSENTIA HEALTH (COLLECTIVELY, THE "SYSTEM"). THE SYSTEM SERVES PATIENTS IN MINNESOTA, NORTH DAKOTA, AND WISCONSIN. HEADQUARTERED IN DULUTH, MINNESOTA, THE SYSTEM COMBINES THE STRENGTHS AND TALENTS OF NEARLY 16,000 EMPLOYEES, INCLUDING MORE THAN 2,300 PHYSICIANS AND ADVANCED PRACTITIONERS, WHO SERVE OUR PATIENTS AND COMMUNITIES THROUGH THE MISSION OF BEING CALLED TO MAKE A HEALTHY DIFFERENCE IN PEOPLE'S LIVES. THE SYSTEM, WHICH INCLUDES MANY CATHOLIC FACILITIES, IS GUIDED BY THE VALUES OF QUALITY, HOSPITALITY, RESPECT, JOY, JUSTICE, STEWARDSHIP, AND TEAMWORK. THE SYSTEM DELIVERS ON ITS MISSION BY HAVING PATIENT-CENTERED FOCUS AT 14 HOSPITALS, APPROXIMATELY 80 CLINICS, SIX LONG-TERM CARE FACILITIES, TWO ASSISTED LIVING FACILITIES, THREE INDEPENDENT LIVING FACILITIES, SEVERAL REHABILITATION CENTERS, SEVEN AMBULANCE SERVICES, 29 RETAIL PHARMACIES, HOME HEALTH SERVICES, AND ONE RESEARCH INSTITUTE. THE SYSTEM SERVES A PREDOMINANTLY RURAL POPULATION WHOSE MEDIAN INCOMES GENERALLY FALL BELOW THE AVERAGES OF THE STATES WHERE THEY LIVE. THE PRESENCE OF OUR CLINICS AND HOSPITALS ENSURES THAT PEOPLE WITH FEW ECONOMIC RESOURCES DO NOT HAVE TO DRIVE AN HOUR OR MORE TO RECEIVE BASIC (AND IN SOME CASES LIFESAVING) MEDICAL CARE. THE LEGAL ENTITIES COMPRISING THE SYSTEM FILE SEPARATE FORM 990S.AT FISCAL YEAR ENDED JUNE 30, 2025, THE SYSTEM'S CONSOLIDATED TOTAL OPERATING REVENUE WAS $3,283,926,000 AND CONSOLIDATED INCOME FROM OPERATIONS WAS $71,629,000.THE SYSTEM'S HOSPITALS HAVE A TOTAL OF 1,202 LICENSED BEDS WHICH PROVIDED OVER 215,000 HOSPITAL PATIENT DAYS AND NEARLY 831,000 OUTPATIENT VISITS DURING THE FISCAL YEAR ENDED JUNE 30, 2025. THE CLINICS HAD 2.2 MILLION ENCOUNTERS DURING THE SAME TIME PERIOD.DURING THE FISCAL YEAR ENDED JUNE 30, 2025, THE SYSTEM PROVIDED TOTAL COMMUNITY BENEFITS OF NEARLY $181 MILLION WHICH INCLUDED COSTS OF PROVIDING CHARITY CARE, COSTS IN EXCESS OF MEDICAID PAYMENTS, MEDICAID SURCHARGE, MINNESOTACARE TAX, COMMUNITY BUILDING ACTIVITIES AND SERVICES, HEALTH PROFESSIONALS EDUCATION, AND RESEARCH.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $400,833,680 | $369,876,260 | +0.1% |
| Expenses | $382,968,872 | $350,377,026 | +0.1% |
| Net Income | $17,864,808 | $19,499,234 | -0.1% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| DAVID HERMAN MD | CHIEF EXECUTIVE OFFICER | 60.00 |
Officer
|
$3,582,443 | $410,785 | $3,993,228 |
| JODI MANSFIELD | EXECUTIVE VICE PRESIDENT, COO | 60.00 |
Key Emp
|
$1,682,569 | $203,612 | $1,886,181 |
| TRACI MORRIS | CHIEF FINANCIAL OFFICER/TREASURER | 40.00 |
Officer
|
$1,054,730 | $144,686 | $1,199,416 |
| LLOYD KETCHUM MD | BD DIRECTOR/REL ORG PHYS & DIV CHAIR | 2.00 |
Director
|
$20,000 | $71,589 | $1,189,608 |
| BRADLEY BEARD | CHIEF OPERATING OFFICER - EAST | 1.00 |
Key Emp
|
$0 | $179,046 | $1,179,194 |
| WILLIAM HEEGAARD MD | PRES-EAST THRU 4/24/FRMR PRES-WEST | 1.00 |
Key Emp
|
$0 | $122,346 | $1,098,293 |
| CHARLES WATSON | CHIEF INFORMATION OFFICER | 60.00 |
Highest
|
$859,620 | $145,067 | $1,004,687 |
| DIANE DAVIDSON | CHIEF HUMAN RESOURCES OFF THRU 4/24 | 60.00 |
Key Emp
|
$839,519 | $145,461 | $984,980 |
| KRISTA SKORUPA MD | PRESIDENT - EAST | 1.00 |
Key Emp
|
$0 | $146,142 | $952,538 |
| KARYN BAUM MD | CHIEF TRANSFORMATION OFF THRU 1/24 | 60.00 |
Highest
|
$911,354 | $32,365 | $943,719 |
| JASON SCHULTZ MD | CHIEF MEDICAL OFFICER - EAST | 1.00 |
Key Emp
|
$0 | $171,138 | $942,581 |
| ROBERT GREEN | SNR VICE PRES, FINANCIAL OPERATIONS | 59.00 |
Highest
|
$782,582 | $151,254 | $933,836 |
| RICHARD VETTER MD | CMO - WEST THRU 12/24 | 1.00 |
Key Emp
|
$0 | $150,321 | $926,040 |
| MICHAEL WATTERS | CHIEF LEGAL OFFICER/SECRETARY | 40.00 |
Officer
|
$773,128 | $151,399 | $924,527 |
| GRATIA PITCHER MD | CHIEF MEDICAL OFFICER | 60.00 |
Key Emp
|
$752,537 | $151,803 | $904,340 |
| SARAH MANNEY KURTH MD | CHIEF MEDICAL INFORMATION OFFICER | 60.00 |
Highest
|
$712,811 | $153,626 | $866,437 |
| AL HURLEY | CHIEF OPERATING OFFICER - WEST | 1.00 |
Key Emp
|
$0 | $129,814 | $835,977 |
| RHONDA KAZIK | CHIEF NURSE EXECUTIVE | 54.00 |
Key Emp
|
$0 | $133,586 | $818,976 |
| KEVIN CASEY MD | FORMER CHIEF MEDICAL OFFICER | 0.00 |
|
$817,015 | $0 | $817,015 |
| MELANIE WILSON | SNR VICE PRES, REVENUE SERVICES | 60.00 |
Highest
|
$639,866 | $142,138 | $782,004 |
| MARK THOMPSON MD | PRESIDENT - WEST THRU 7/24 | 1.00 |
Key Emp
|
$0 | $40,293 | $742,423 |
| STEFANIE GEFROH ELLISON MD | BD DIRECTOR THRU 2/25/PRESIDENT-WEST | 2.00 |
Director
|
$30,000 | $66,878 | $629,098 |
| JOSHUA HONEYMAN MD | BD DIRECTOR/REL ORG PHYS & DIV CHAIR | 2.00 |
Director
|
$0 | $63,080 | $593,517 |
| ANNE STEPHEN MD | CMO - EAST THRU 5/24 | 1.00 |
Key Emp
|
$0 | $70,794 | $569,897 |
| JANE RUDD MD | BD DIRECTOR/REL ORG PHYS & DIV CHAIR | 2.00 |
Director
|
$20,000 | $64,738 | $398,494 |
| JOHN VON ARB | INTERIM CHRO | 60.00 |
Key Emp
|
$329,329 | $51,683 | $381,012 |
| FRANK MODICH | FORMER INTERIM CHIEF LEGAL OFFICER | 60.00 |
|
$280,924 | $28,902 | $309,826 |
| PETER HENRY MD | FORMER CHIEF MEDICAL OFFICER | 0.00 |
|
$0 | $8,922 | $120,466 |
| SHEILA HART | FORMER SNR VP-INT CARE DELIVERY | 0.00 |
|
$108,020 | $0 | $108,020 |
| ALAN HODNIK | BOARD CHAIR | 2.00 |
Officer
Director
|
$45,000 | $0 | $45,000 |
| KEVIN MOUG | BOARD DIRECTOR | 2.00 |
Director
|
$30,000 | $0 | $30,000 |
| LAURIE LEWANDOWSKI | BOARD DIRECTOR | 2.00 |
Director
|
$23,375 | $0 | $23,375 |
| GEORGE GOLDFARB | BOARD VICE CHAIR THRU 9/24 | 2.00 |
Officer
Director
|
$22,500 | $0 | $22,500 |
| KIMBERLY STOKES | BOARD DIRECTOR | 2.00 |
Director
|
$22,500 | $0 | $22,500 |
| MARK RONNEI | BOARD VICE CHAIR | 2.00 |
Officer
Director
|
$20,000 | $0 | $20,000 |
| SANDEEP WADHWA MD | BOARD DIRECTOR | 2.00 |
Director
|
$1,296 | $0 | $1,296 |
| DAVID MCMILLAN | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| FRANK FREDERICKSON | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| LEANN LITTLEWOLF | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| PATRICK COURNEYA MD | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| SISTER BEVERLY RAWAY | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| SISTER CLARE MARIE TRETTEL | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| SISTER KATHLEEN HOFER | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| SISTER THERESE CARSON | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| TIM PAWLENTY | BOARD DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $400,833,680 | $382,968,872 | $996,812,762 | $17,864,808 |
| 2024 | No data | No data | No data | No data |
| 2023 | $348,209,105 | $340,166,174 | $723,173,585 | $8,042,931 |
| 2022 | $416,911,579 | $286,957,827 | $630,123,333 | $129,953,752 |
| 2021 | $232,654,548 | $211,985,773 | $613,077,249 | $20,668,775 |
| 2020 | $219,068,133 | $204,895,965 | $549,423,564 | $14,172,168 |
| 2019 | $194,220,633 | $182,244,364 | $419,201,264 | $11,976,269 |
| 2018 | $189,162,863 | $180,096,528 | $396,118,323 | $9,066,335 |
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