UNION COUNTY PHYSICIAN CORP

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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

SPENCE FISHER

Phone

9376446115

Tax Period

2024-01-01 to 2024-12-31

UNION COUNTY PHYSICIAN CORP, founded in 2008, is a mid-sized nonprofit in the Health Care sector that reported $47.4M in total revenue in fiscal year 2024. Revenue surged 82% from the prior year, signaling strong growth momentum. The organization ran a surplus of $18.5M, a strong 39% operating margin.

Mission

TO PROVIDE HEALTH CARE AND PHYSICIAN SERVICES AND TO OWN, LEASE, OPERATE AND/OR PROVIDE HEALTH CARE FACILITIES FOR THE PROMOTION OF HEALTH IN THE AREA SERVED BY THE CORPORATION. TO ENGAGE IN PROGRAMS, ACTIVITIES, AND PROJECTS THAT PROMOTE THE HEALTH AND GENERAL WELFARE OF THE COMMUNITY; TO OPERATE EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE; TO BE ORGANIZED AND OPERATED AS A PUBLIC BENEFIT CORPORATION, WITHIN THE MEANING OF SECTION 1702.01(P) OF THE OHIO REVISED CODE; TO EMPLOY PHYSICIANS ON BEHALF OF, AND OTHERWISE OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF, MEMORIAL HOSPITAL OF UNION COUNTY (THE HOSPITAL), WHICH IS A COUNTY HOSPITAL BOARD ORGANIZED UNDER CHAPTER 339 OF THE OHIO REVISED CODE; TO ENGAGE IN ANY LAWFUL ACT, ACTIVITY OR BUSINESS NOT CONTRARY TO AND FOR WHICH A NONPROFIT CORPORATION MAY BE FORMED UNDER THE LAWS OF OHIO ON NONPROFIT CORPORATIONS.

Program Service Accomplishments

Program 1

Expenses: $26,934,632 Revenue: $25,497,410

TO PROVIDE HEALTH CARE AND PHYSICIAN SERVICES ON BEHALF OF MEMORIAL HOSPITAL OF UNION COUNTY TO APPROXIMATELY 88,485 PATIENT VISITS AND TO OWN, LEASE, OPERATE AND/OR PROVIDE HEALTH CARE FACILITIES...

TO PROVIDE HEALTH CARE AND PHYSICIAN SERVICES ON BEHALF OF MEMORIAL HOSPITAL OF UNION COUNTY TO APPROXIMATELY 88,485 PATIENT VISITS AND TO OWN, LEASE, OPERATE AND/OR PROVIDE HEALTH CARE FACILITIES FOR THE PROMOTION OF HEALTH IN THE AREA SERVED BY THE CORPORATION.

Program 2

Expenses: $2,038,547 Revenue: $21,938,403

TO FACILITATE THE LEASING OF HOSPITAL AND CLINIC SPACES AND PROPERTIES.

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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 $0

Program Service Revenue $47,435,813

Investment Income $0

Other Revenue $0

TOTAL REVENUE $47,435,813

Expense Breakdown

Grants Paid $0

Salaries & Benefits $19,707,127

Fundraising Expenses $0

Program Expenses $28,973,179

Other Expenses $9,266,052

TOTAL EXPENSES $28,973,179

Year-over-Year Comparison

	2024	2023	Change
Revenue	$47,435,813	$26,062,961	+0.8%
Expenses	$28,973,179	$27,481,453	+0.1%
Net Income	$18,462,634	$-1,418,492	-14.0%

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

202

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

$2,070,007

Total Directors

$1,295,936

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASHLEY THOMPSON	CHAIR	1.00	Officer Director	$0	$0	$0
OLAS A HUBBS III	SECRETARY/TREASURER	5.00	Officer Director	$0	$134,509	$1,295,936
GREG SEHNERT	BOARD MEMBER	1.00	Director	$0	$0	$0
SPENCE FISHER	PRESIDENT/ADMINISTRATOR	20.00	Officer	$0	$98,322	$774,071
AMISH R PATEL DO	DOCTOR	40.00	Highest	$941,623	$46,488	$988,111
MICHAEL D JORDAN DO	DOCTOR	40.00	Highest	$1,046,354	$60,288	$1,106,642
ADAM BARKER MD	DOCTOR	40.00	Highest	$862,594	$43,244	$905,838
FORREST SCHWARTZ MD	DOCTOR	40.00	Highest	$834,417	$5,164	$839,581
BENJAMIN BUSH MD	DOCTOR	40.00	Highest	$608,853	$63,438	$672,291

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	$47,435,813	$28,973,179	$66,379,139	$18,462,634
2023	$26,062,961	$27,481,453	$36,465,919	$-1,418,492
2022	$26,183,644	$22,890,666	$38,042,202	$3,292,978
2021	$21,172,435	$21,515,979	$3,364,859	$-343,544
2020	$19,585,508	$19,402,717	$2,210,493	$182,791
2019	$16,638,373	$16,566,892	$1,455,705	$71,481
2018	$15,500,925	$16,238,191	$1,754,400	$-737,266