TRIAD HEALTH SYSTEMS INC

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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

2008

Legal Domicile

Principal Officer

ADAM CRAFT

Phone

8595671271

Tax Period

2023-01-01 to 2023-12-31

TRIAD HEALTH SYSTEMS INC, founded in 2008, is a mid-sized nonprofit in the Health Care sector that reported $10.0M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year.

Mission

TO MEET THE NEEDS OF THE UNDERSERVED BY PROMOTING WELLNESS AND PREVENTION AND PROVIDING THE HIGHEST QUALITY MEDICAL SERVICES POSSIBLE FOR THE THREE COUNTY AREAS OF CARROLL, OWEN, AND GALLATIN.

Program Service Accomplishments

Program 1

Expenses: $7,994,901 Revenue: $6,176,367

PROVIDE MEDICAL, MENTAL HEALTH, DENTAL, AND OPTOMETRY SERVICES TO THE RESIDENTS OF GALLATIN, OWEN AND CARROLL COUNTIES WITH AN EMPHASIS ON SERVICES TO THE UNINSURED AND UNDERINSURED. THE SYSTEM...

PROVIDE MEDICAL, MENTAL HEALTH, DENTAL, AND OPTOMETRY SERVICES TO THE RESIDENTS OF GALLATIN, OWEN AND CARROLL COUNTIES WITH AN EMPHASIS ON SERVICES TO THE UNINSURED AND UNDERINSURED. THE SYSTEM PROVIDED APPROXIMATELY $779,021 IN CHARITY CARE.

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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 $3,837,648

Program Service Revenue $5,358,824

Investment Income $2,167

Other Revenue $817,543

TOTAL REVENUE $10,016,182

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,887,117

Fundraising Expenses $0

Program Expenses $7,994,901

Other Expenses $3,397,409

TOTAL EXPENSES $10,284,526

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,016,182	$10,546,748	-0.1%
Expenses	$10,284,526	$9,039,754	+0.1%
Net Income	$-268,344	$1,506,994	-1.2%

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

104

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

$846,961

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC BAUMANN BEG 0223	PHYSICIAN/MEDICAL DIRECTOR	40.00	Officer	$267,955	$57,168	$325,123
DOUG SMALARA BEG 0223	PHYSICIAN/MEDICAL DIRECTOR	40.00	Officer	$267,690	$34,125	$301,815
LARRY JOHNSON	PHYSICIAN	40.00	Highest	$259,317	$45,528	$304,845
ALEXIS MCKENDALL NGUYEN	DENTIST	40.00	Highest	$202,661	$22,144	$224,805
BARBARA NEWELL	PHYSICIAN	40.00	Highest	$199,782	$6,410	$206,192
LUCAS SHELTON	PHYSICIAN	40.00	Highest	$192,692	$39,333	$232,025
ADAM CRAFT	CEO	40.00	Officer	$172,275	$21,093	$193,368
ELIZABETH ST CYR	PHARMACIST	40.00	Highest	$139,254	$7,740	$146,994
MARK MILLER DO	MEDICAL DIRECTOR (END 2/10/23)	40.00	Officer	$26,505	$150	$26,655
ROGER WILLIAMS	CFO (END 12/23)	40.00	Officer	$0	$0	$0
DIANNE COLEMAN	CHAIRWOMEN	1.00	Officer Director	$0	$0	$0
JUSTIN PITTMAN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL RAMSEY	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
MARYANN GAGEL	SECRETARY/TREASURER (END 04/23)	1.00	Officer Director	$0	$0	$0
JUSTIN ALEXANDER	DIRECTOR	1.00	Director	$0	$0	$0
DONNIE DAWES	DIRECTOR	1.00	Director	$0	$0	$0
MARY JANE DAY	DIRECTOR	1.00	Director	$0	$0	$0
JANICE K RIDDLE	DIRECTOR	1.00	Director	$0	$0	$0
SHIRLEY WARNICK	DIRECTOR (BEG 01/23)	1.00	Director	$0	$0	$0
KIMBERLY JONES	DIRECTOR (BEG 01/23)	1.00	Director	$0	$0	$0
VERONICA GAYLE	DIRECTOR (BEG 07/23)	1.00	Director	$0	$0	$0
FELICIA JUETT	DIRECTOR (END 11/23)	1.00	Director	$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
2024	No data	No data	No data	No data
2023	$10,016,182	$10,284,526	$11,705,957	$-268,344
2022	$10,546,748	$9,039,754	$12,378,150	$1,506,994
2021	$8,634,969	$8,216,762	$7,319,417	$418,207
2020	$11,557,224	$8,809,287	$7,345,251	$2,747,937
2019	$8,363,225	$7,638,085	$4,179,426	$725,140
2018	$5,185,237	$5,329,684	$3,236,720	$-144,447