PRESTON MEMORIAL HOSPITAL CORPORAT… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

MELISSA LOCKWOOD

Phone

3043291400

Tax Period

2023-01-01 to 2023-12-31

PRESTON MEMORIAL HOSPITAL CORPORATION, founded in 1955, is a mid-sized nonprofit in the Health Care sector that reported $53.0M in total revenue in fiscal year 2023. Revenue surged 91% from the prior year, signaling strong growth momentum.

Mission

TO ENHANCE THE HEALTH OF THE COMMUNITIES WE SERVE, ONE PERSON AT A TIME.

Program Service Accomplishments

Program 1

Expenses: $46,720,667 Revenue: $51,715,252

THE HOSPITAL HAD 2,009 INPATIENT DAYS, CARED FOR 9,227 EMERGENCY PATIENTS AND TREATED 85,3382 PATIENTS IN ITS OUTPATIENT CLINICS. THE HOSPITAL PROVIDES CARE REGARDLESS OF THE PATIENT'S ABILITY TO...

THE HOSPITAL HAD 2,009 INPATIENT DAYS, CARED FOR 9,227 EMERGENCY PATIENTS AND TREATED 85,3382 PATIENTS IN ITS OUTPATIENT CLINICS. THE HOSPITAL PROVIDES CARE REGARDLESS OF THE PATIENT'S ABILITY TO PAY. CHARGES FOREGONE FOR CHARITY CARE AMOUNTED TO $763,233. THE HOSPITAL PROMOTES AND PROVIDES ACTIVITIES SUCH AS HEALTH FAIRS, BLOOD DRIVES, AND A FITNESS CENTER TO IMPROVE THE HEALTH AND WELFARE OF ITS PATIENTS. THE HOSPITAL ALSO CONDUCTS COMMUNITY-WIDE SPEAKER BUREAUS TO HELP EDUCATE THE COMMUNITY ON SPECIFIC HEALTH AND WELLNESS MATTERS. THE HOSPITAL STRIVES TO PROVIDE AND PROMOTE NEEDED SERVICES IN THE COMMUNITY BY PARTNERING WITH LOCAL AGENCIES SUCH AS THE PRESTON COUNTY HEALTH DEPARTMENT, FAMILY RESOURCE NETWORK, PRESTON PREVENTION PARTNERSHIP, AND THE PRESTON COUNTY CHAMBER OF COMMERCE.THE ORGANIZATION SPONSORED HEALTH FAIRS, BLOOD DRIVES, CANCER SCREENINGS, CPR/FIRST AID CLASSES, CRISIS INTERVENTION, DIABETES INTERVENTION, FAMILY/PARENTING/SIBLING EDUCATION, FITNESS EDUCATION, FLU SHOTS, NUTRITION/WEIGHT MAINTENANCE, SCHOOL BASED PROGRAMS, SENIOR EDUCATION AND OUTREACH PROGRAMS, SPORTS INJURY PREVENTION, SUBSTANCE ABUSE AND TOBACCO/SMOKING CESSATION.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $600,000

Program Service Revenue $51,041,050

Investment Income $472,400

Other Revenue $865,781

TOTAL REVENUE $52,979,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,628,981

Fundraising Expenses $0

Program Expenses $46,720,667

Other Expenses $25,320,377

TOTAL EXPENSES $52,949,358

Year-over-Year Comparison

	2023	2022	Change
Revenue	$52,979,231	$27,699,509	+0.9%
Expenses	$52,949,358	$26,920,623	+1.0%
Net Income	$29,873	$778,886	-1.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

446

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

$1,481,614

Total Directors

$1,503,292

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID GOLDBERG	DIRECTOR, MHS PRES/CEO	1.00	Officer Director	$0	$36,373	$890,036
MELISSA LOCKWOOD	DIRECTOR/PMH CAO	30.00	Officer Director	$0	$52,848	$342,176
JASON MCNAIR	DIRECTOR/CHIEF OF STAFF (START 05/23)	50.00	Director	$260,385	$10,695	$271,080
NICK TAYLOR	CHAIR	1.00	Officer Director	$0	$0	$0
RAY THOMPSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
TIM CALVERT	SECRETARY/TREASURER, FINANCE CHAIR	1.00	Officer Director	$0	$0	$0
BONNIE J FORMAN	CHIEF OF STAFF (END 05/23)	50.00	Director	$0	$0	$0
KATHY MCNEILL	DIRECTOR	1.00	Director	$0	$0	$0
RITA MCCROBIE	DIRECTOR	1.00	Director	$0	$0	$0
RONALD CRITES	DIRECTOR	1.00	Director	$0	$0	$0
TARRELL RIES	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN GESSLER	VP OF FINANCE	20.00	Officer	$0	$1,153	$249,402
FRANK ABRAHAM	PHYSICIAN	50.00	Highest	$607,024	$67,340	$674,364
LORN WOLFE	PHYSICIAN	50.00	Highest	$449,874	$53,703	$503,577
MARISA DOWNEY	PHYSICIAN	50.00	Highest	$445,624	$40,050	$485,674
DAVID FOURQUREAN	PHYSICIAN	50.00	Highest	$409,393	$39,231	$448,624
MARAM HAKOUM	PHYSICIAN	50.00	Highest	$370,233	$25,330	$395,563

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	No data	No data	No data	No data
2023	$52,979,231	$52,949,358	$46,376,503	$29,873
2022	$55,171,837	$55,471,190	$55,257,695	$-299,353
2022	$27,699,509	$26,920,623	$49,013,678	$778,886
2021	$50,555,683	$46,535,613	$60,807,644	$4,020,070
2020	$47,530,676	$47,235,017	$53,292,174	$295,659
2019	$46,789,622	$47,065,160	$47,260,249	$-275,538
2018	$42,020,636	$42,461,596	$48,344,833	$-440,960

PRESTON MEMORIAL HOSPITAL CORPORATION