MIDWEST MEDICAL CENTER (EIN 204560540) - Form 990 Financial Analysis & Trantor Score

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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

2006

Legal Domicile

Principal Officer

TRACY BAUER

Phone

8157771340

Tax Period

2023-10-01 to 2024-09-30

MIDWEST MEDICAL CENTER, founded in 2006, is a mid-sized nonprofit in the Health Care sector that reported $44.4M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $41.8M left a modest 6% surplus.

Mission

TO PROVIDE HEALTHCARE SERVICES TO THE RESIDENTS OF THE CITY OF GALENA, ILLINOIS AND THE SURROUNDING AREA REGARDLESS OF A PATIENT'S ABILITY TO PAY.

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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 $381,476

Program Service Revenue $43,293,566

Investment Income $442,166

Other Revenue $252,732

TOTAL REVENUE $44,369,940

Expense Breakdown

Grants Paid $9,118

Salaries & Benefits $21,674,868

Fundraising Expenses $0

Program Expenses $35,290,615

Other Expenses $20,160,278

TOTAL EXPENSES $41,844,264

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,369,940	$37,891,105	+0.2%
Expenses	$41,844,264	$36,306,633	+0.2%
Net Income	$2,525,676	$1,584,472	+0.6%

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

293

Volunteers

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

$561,156

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR BARB SLOAN	CHAIR	2.00	Officer Director	$0	$0	$0
CARTER NEWTON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOEL HOLLAND	TREASURER	2.00	Officer Director	$0	$0	$0
DONNA FERRY	SECRETARY	2.00	Officer Director	$0	$0	$0
MATTHEW CAROLL	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRIS CURRAN	BOARD MEMBER	2.00	Director	$0	$0	$0
HELEN KILGORE	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN LORENZEN	BOARD MEMBER	2.00	Director	$0	$0	$0
PASTOR MIKE NESBIT	BOARD MEMBER (THRU DEC 2023)	2.00	Director	$0	$0	$0
DOUG RAHDEN	BOARD MEMBER	2.00	Director	$0	$0	$0
TIM VINCENT	BOARD MEMBER	2.00	Director	$0	$0	$0
LYNN ZEHNDER	BOARD MEMBER	2.00	Director	$0	$0	$0
TRACY BAUER	CEO	50.00	Officer	$366,837	$14,795	$381,632
KELLI JACKSON	CFO	50.00	Officer	$147,825	$31,699	$179,524
KENNETH SCHIFFMAN MD	ORTHOPEDIC SURGEON	40.00	Highest	$454,292	$33,838	$488,130
MATTHEW GULLONE MD	PHYSICIAN	40.00	Highest	$333,144	$22,348	$355,492
GREG HARMSTON MD	PHYSICIAN	40.00	Highest	$296,225	$37,254	$333,479
MOIZ HASSAN	PODIATRIC SURGEON	40.00	Highest	$283,141	$37,066	$320,207
RICHARD FARRELL MD	PHYSICIAN	40.00	Highest	$283,236	$28,555	$311,791

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	$44,369,940	$41,844,264	$64,362,726	$2,525,676
2023	$37,891,105	$36,306,633	$49,632,897	$1,584,472
2022	$35,876,962	$33,637,701	$43,422,935	$2,239,261
2021	$34,873,960	$29,362,241	$42,348,172	$5,511,719
2020	$28,693,108	$26,106,518	$41,226,329	$2,586,590
2019	$26,314,732	$25,703,425	$34,962,942	$611,307
2018	$25,985,284	$25,598,543	$42,539,247	$386,741

MIDWEST MEDICAL CENTER