Chesapeake Hospital Corporation

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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

1977

Legal Domicile

Phone

8044358582

Tax Period

2018-09-01 to 2019-08-31

Chesapeake Hospital Corporation, founded in 1977, is a mid-sized nonprofit that reported $37.2M in total revenue in fiscal year 2018. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $44.5M exceeded revenue, resulting in a 20% operating deficit.

Mission

The organization operates an acute care general hospital. The hospital has a community based Board of Directors, has an open medical staff, operates an emergency room providing care to all regardless of ability to pay, and provides non-emergency services to any with the ability to pay including Medicare and Medicaid covered individuals. The organization is dedicated to the provision of quality, compassionate care to all patients in the most cost effective manner. This will be accomplished through the most effective use of available resources and will reflect ethical decisions, including the effective management of pain, made jointly by the patients, the family, and health care professionals involved in its care.

Program Service Accomplishments

Program 1

Expenses: $41,354,253 Revenue: $36,724,613

Rappahannock General Hospital, which is the only provider of inpatient and outpatient acute care services within a five county area, provides medical care to patients without regard to their ability...

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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 (2018)

Revenue Breakdown

Contributions & Grants $199,561

Program Service Revenue $36,486,988

Investment Income $30,196

Other Revenue $451,549

TOTAL REVENUE $37,168,294

Expense Breakdown

Grants Paid $138,563

Salaries & Benefits $21,101,612

Fundraising Expenses $0

Program Expenses $41,354,253

Other Expenses $23,217,121

TOTAL EXPENSES $44,457,296

Year-over-Year Comparison

	2018	2017	Change
Revenue	$37,168,294	$31,771,380	+0.2%
Expenses	$44,457,296	$33,892,026	+0.3%
Net Income	$-7,289,002	$-2,120,646	+2.4%

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

395

Volunteers

110

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

$3,547,647

Total Directors

$4,120,692

Key Employees

$985,277

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	CEO-BSV (End 07/19)	6.0	Officer Director	$0	$16,500	$1,852,330
N/A	Interim CEO - Richmond (Beg 07/19)	6.0	Officer Director	$0	$0	$0
N/A	President	3.5	Officer Director	$0	$0	$0
N/A	Chairman (End 12/18)	2.0	Officer Director	$0	$0	$0
N/A	Chairman (Beg 01/19)	2.0	Officer Director	$0	$0	$0
N/A	Board Member (End 03/19)	2.0	Director	$0	$148,793	$2,268,362
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member (Beg 08/19)	2.0	Director	$0	$0	$0
N/A	Board Member (Beg 08/19)	2.0	Director	$0	$0	$0
N/A	Board Member (End 12/18)	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member (End 12/18)	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	Treasurer, CFO - Richmond Market	10.0	Officer	$0	$25,196	$683,182
N/A	Secretary (Beg 01/19)	2.0	Officer	$0	$42,470	$306,709
N/A	CEO-SFMC&CHC	20.0	Officer	$0	$48,668	$705,426
N/A	Secretary (End 01/19)	2.0	Officer	$0	$0	$0
N/A	SVP HR - Richmond (End 11/18)	8.0	Key Emp	$0	$43,292	$404,968
N/A	VP HR - Richmond (Beg 11/18)	8.0	Key Emp	$0	$38,572	$217,219
N/A	VP Patient Care Services	49.0	Key Emp	$177,336	$7,786	$185,122
N/A	VP, Hospital Administrator	50.0	Key Emp	$168,794	$9,174	$177,968
N/A	Psychiatrist	50.0	Highest	$248,062	$31,716	$279,778
N/A	Primary Care Physician	50.0	Highest	$271,794	$38,152	$309,946
N/A	Internist	50.0	Highest	$176,719	$15,834	$192,553
N/A	Operations Manager, Pharmacy	50.0	Highest	$157,369	$8,183	$165,552
N/A	Internist	50.0	Highest	$229,218	$27,221	$256,439
N/A	Former CEO - RGH	0.0		$0	$43,740	$856,606

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
2019	$37,168,294	$44,457,296	$25,251,162	$-7,289,002
2019	$13,682,871	$14,759,042	No data	$-1,076,171
2018	$31,771,380	$33,892,026	$24,397,614	$-2,120,646