Thomas Health System Inc (EIN 260440674) - 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

Gregory Rosencrance

Phone

3047663523

Tax Period

2023-10-01 to 2024-04-30

Thomas Health System Inc, founded in 2006, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $52.4M exceeded revenue, resulting in a 2491% operating deficit.

Mission

Thomas Health System, Inc. is operated exclusively for charitable and educational purposes and is the sole member and parent company of the Herbert J. Thomas Memorial Hospital Association, Charleston Hospital, Inc. dba S

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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 $1,770,900

Program Service Revenue $0

Investment Income $86,366

Other Revenue $165,169

TOTAL REVENUE $2,022,435

Expense Breakdown

Grants Paid $137,952

Salaries & Benefits $26,373,726

Fundraising Expenses $0

Program Expenses $13,108,008

Other Expenses $25,882,748

TOTAL EXPENSES $52,394,426

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,022,435	$2,794,437	-0.3%
Expenses	$52,394,426	$101,418,785	-0.5%
Net Income	$-50,371,991	$-98,624,348	-0.5%

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

N/A

Employees

2472

Volunteers

N/A

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

$2,013,923

Total Directors

$4,540,460

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Albert L Wright Jr	WVUHS President/CEO - Ex-Officio	001.00	Director	$0	$409,396	$3,952,695
Greg Rosencrance MD	President/CEO - Ex-Officio	001.00	Director	$0	$34,032	$587,765
Timothy Skeldon	VP Finance	040.00	Officer	$0	$45,905	$456,592
Aaron Alexander	Senior VP/General Counsel	001.00	Officer	$0	$76,874	$400,813
Leslie Lawson	VP Operations	040.00	Officer	$0	$55,353	$330,811
Elizabeth Davis	VP Human Resources	001.00	Officer	$0	$23,577	$330,040
Brian Ulery	Former VP/COO THS	N/A		$285,425	$0	$285,425
Jennie Kahn RN	VP/Chief Nursing Officer - termed Dec 2023	001.00	Officer	$0	$15,674	$250,207
Brian Lilly	VP Quality	001.00	Officer	$0	$31,361	$245,460
Steve Bissett	SLD Ortho/General Surgery	040.00	Highest	$168,721	$32,902	$201,623
Kelli Bailey	Director of Nursing	040.00	Highest	$171,342	$27,229	$198,571
Jane Harless	Controller	010.00	Highest	$182,597	$15,555	$198,152
Jeremy Taylor	Manager Site Information Technology	040.00	Highest	$172,018	$23,017	$195,035
Shari Boyer	Director Enterprise Revenue Cycle Integration	040.00	Highest	$176,308	$14,610	$190,918
Andy Barker	Member	001.00	Director	$0	$0	$0
Paul Breedlove	Chair	001.00	Director	$0	$0	$0
Kishore Chailla MD	Member	001.00	Director	$0	$0	$0
Terrell Ellis	Member	001.00	Director	$0	$0	$0
LJ Fairless	Member	001.00	Director	$0	$0	$0
Very Rev Donald X Higgs VF	Bishop Appointee, Member	001.00	Director	$0	$0	$0
Steve Kawash	Treasurer	001.00	Officer Director	$0	$0	$0
Susan Laenski	Member	001.00	Director	$0	$0	$0
Angela Mayfield	Chairman	001.00	Officer Director	$0	$0	$0
Ashley C Pack	Member	001.00	Director	$0	$0	$0
Jenny Parsons	Foundation Chair - Ex-Officio Non-Voting Member	001.00	Director	$0	$0	$0
Mark Robinson	Member	001.00	Director	$0	$0	$0
David Sayre	2nd Vice Chair/Secretary	001.00	Officer Director	$0	$0	$0
Craig Slaughter	1st Vice Chair	001.00	Officer 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	$2,022,435	$52,394,426	No data	$-50,371,991
2023	$2,794,437	$101,418,785	$12,516,507	$-98,624,348
2022	$6,964,514	$90,510,502	$57,209,944	$-83,545,988
2021	$891,312	$92,114,427	$66,489,070	$-91,223,115
2020	$98,378,034	$86,487,925	$86,030,156	$11,890,109
2018	No data	$49,921	$4,940,806	No data

Thomas Health System Inc