St Luke's Physician Network 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

Phone

3363785551

Tax Period

2023-10-01 to 2024-09-30

St Luke's Physician Network Inc, founded in 2008, is a community nonprofit in the Health Care sector that reported $6.1M in total revenue in fiscal year 2023. Expenses of $8.9M exceeded revenue, resulting in a 47% operating deficit.

Mission

TO PROMOTE COMMUNITY HEALTH THROUGH THE PROVISION OF HEALTH CARE SERVICES TO THE RESIDENTS OF POLK COUNTY, NC AND SURROUNDING COUNTIES, AS WELL AS TO PROMOTE, IMPROVE, AND ENHANCE THE QUALITY OF HEALTH CARE SERVICES IN POLK COUNTY, NC AND SURROUNDING COUNTIES.

Program Service Accomplishments

Program 1

Expenses: $7,588,119 Revenue: $5,438,937

ST. LUKE'S PHYSICIAN NETWORK (SLPN) PROVIDES HEALTH CARE SERVICES TO CITIZENS OF POLK COUNTY, NC, AND SURROUNDING COUNTIES, THROUGH VARIOUS CLINICS ACROSS A WIDE VARIETY OF MEDICAL SPECIALTIES. SLPN PROVIDES HEALTH CARE SERVICES TO CITIZENS OF POLK COUNTY, NC AND SURROUNDING COUNTIES, THROUGH A TOTAL OF FOUR CLINICS. THE FOUR CLINICS ARE COMPRISED OF TWO RURAL HEALTH CLINIC'S (SALUDA FAMILY MEDICINE AND FOOTHILLS MEDICAL ASSOCIATES WHICH INCLUDES CARDIOLOGY AND GENERAL SURGERY) ALONG WITH ST. LUKE'S ORTHOPEDIC AND SPORTS MEDICINE AND ST. LUKE'S UROLOGY CLINIC.

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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 $618,925

Program Service Revenue $5,424,256

Investment Income $-3,284

Other Revenue $14,681

TOTAL REVENUE $6,054,578

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,706,286

Fundraising Expenses $0

Program Expenses $7,588,119

Other Expenses $2,205,068

TOTAL EXPENSES $8,911,354

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,054,578	$5,683,860	+0.1%
Expenses	$8,911,354	$8,283,894	+0.1%
Net Income	$-2,856,776	$-2,600,034	+0.1%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bill Miller	CHAIRMAN	1.0	Officer Director	$0	$0	$0
LINDA GREENSFELDER	Trustee	1.0	Director	$0	$0	$0
George Azar MD	PHYSICIAN	45.0	Highest	$830,078	$65,144	$895,222
Jeff Viar DO	PHYSICIAN	45.0	Highest	$279,189	$50,462	$329,651
Josh Knolhoff MD	PHYSICIAN	45.0	Highest	$374,767	$27,181	$401,948
WILLIAM SAVAGE DO	PHYSICIAN	45.0	Highest	$323,012	$66,019	$389,031
Wilson Kemp MD	PHYSICIAN	45.0	Highest	$573,408	$0	$573,408

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	$6,054,578	$8,911,354	$2,494,439	$-2,856,776
2023	$5,683,860	$8,283,894	$1,568,952	$-2,600,034
2022	$4,630,498	$7,984,240	$1,226,592	$-3,353,742
2021	$5,825,100	$8,453,849	$1,663,323	$-2,628,749
2020	$5,430,794	$7,981,965	$1,108,723	$-2,551,171
2019	$5,014,448	$7,932,704	$440,911	$-2,918,256
2018	$3,435,338	$5,448,782	$455,186	$-2,013,444