INDIANA REGIONAL MEDICAL CENTER (EIN 250965404) - 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

1944

Legal Domicile

Principal Officer

STEPHEN A WOLFE

Phone

7243577008

Tax Period

2024-07-01 to 2025-06-30

INDIANA REGIONAL MEDICAL CENTER, founded in 1944, is a major nonprofit in the Health Care sector that reported $275.5M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $246.7M left a modest 10% surplus.

Mission

TO SERVE THE HEALTHCARE NEEDS OF EVERY LIFE WE TOUCH WITH COMPASSION, RESPECT, AND DIGNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $13,534,204

Program Service Revenue $245,070,610

Investment Income $6,478,476

Other Revenue $10,372,948

TOTAL REVENUE $275,456,238

Expense Breakdown

Grants Paid $0

Salaries & Benefits $96,942,889

Fundraising Expenses $0

Program Expenses $200,467,145

Other Expenses $149,738,277

TOTAL EXPENSES $246,681,166

Year-over-Year Comparison

	2024	2023	Change
Revenue	$275,456,238	$235,244,815	+0.2%
Expenses	$246,681,166	$218,311,917	+0.1%
Net Income	$28,775,072	$16,932,898	+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

1264

Volunteers

107

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

$2,080,602

Total Directors

$1,950,982

Key Employees

$904,683

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATHAN KOVALCHICK	CHAIRMAN	1.00	Officer Director	$0	$0	$0
T MICHAEL PRICE	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
FRANK ROBERTS	SECRETARY	1.00	Officer Director	$0	$0	$0
REBECCA STAPLETON	TREASURER	1.00	Officer Director	$0	$0	$0
STEPHEN A WOLFE	PRESIDENT & CEO	34.00	Officer Director	$1,005,085	$53,066	$1,058,151
TODD BRICE	BOARD MEMBER	1.00	Director	$0	$0	$0
HILLIARY CREELY	BOARD MEMBER	1.00	Director	$0	$0	$0
RUSSELL A DROZDIAK MD	BOARD MEMBER	40.00	Director	$175,349	$4,882	$180,231
LAURIE A KUZNESKI	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINA B LUBOLD MD	BOARD MEMBER	5.00	Director	$37,920	$0	$37,920
JAMES R MARTIN	BOARD MEMBER	1.00	Director	$0	$0	$0
TIMOTHY CLARK SIMPSON MD	BOARD MEMBER	1.00	Director	$0	$23,631	$674,680
MATTHEW N KLAIN MD	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL F ICKOWSKI	CHIEF FINANCIAL OFFICER	34.00	Officer	$408,665	$4,417	$413,082
RICHARD NEFF MD	CHIEF MEDICAL OFFICER	34.00	Officer	$426,758	$34,734	$461,492
BRETT BRAUN	CHIEF OPERATING OFFICER (UNTIL 05/2024)	34.00	Officer	$0	$18,124	$147,877
WENDY HAISLIP	CHIEF NURSING OFFICER	34.00	Key Emp	$219,282	$27,279	$246,561
JAMES KINNEER	CHIEF HUMAN RESOURCE OFFICER	20.00	Key Emp	$266,766	$46,745	$313,511
MARK VOLOVIC	CHIEF INFORMATION OFFICER	34.00	Key Emp	$301,517	$43,094	$344,611
ADENIRAN HAASTRUP MD	PHYSICIAN	40.00	Highest	$689,482	$35,068	$724,550
TOLUTOPE OZAH MD	PHYSICIAN	40.00	Highest	$522,743	$32,731	$555,474
BENJAMIN L PARK DO	PHYSICIAN	40.00	Highest	$498,762	$29,200	$527,962
KYUNG PARK MD	PHYSICIAN	40.00	Highest	$509,394	$35,779	$545,173
GREGORY OLENIC MD	PHYSICIAN	40.00	Highest	$394,781	$33,156	$427,937
ROBERT A GONGAWARE	FORMER CFO	0.00		$238,963	$32,038	$271,001

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
2025	$275,456,238	$246,681,166	$298,182,339	$28,775,072
2024	No data	No data	No data	No data
2023	$217,990,534	$202,771,331	$256,016,534	$15,219,203
2022	$179,628,883	$162,673,515	$279,036,107	$16,955,368
2018	$171,485,617	$164,649,135	$243,310,153	$6,836,482

INDIANA REGIONAL MEDICAL CENTER