Commonwealth Health Corporation 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

1984

Legal Domicile

Phone

2707451551

Tax Period

2024-04-01 to 2025-03-31

Commonwealth Health Corporation Inc, founded in 1984, is a major nonprofit in the Health Care sector that reported $195.7M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $178.5M left a modest 9% surplus.

Mission

MED CENTER HEALTH IS AN INTEGRATED HEALTHCARE SYSTEM WITH A MISSION TO CARE FOR PEOPLE AND IMPROVE THE QUALITY OF LIFE IN THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $106,276,038 Revenue: $109,040,789

PHYSICIAN SERVICES: MED CENTER HEALTH'S (MCH) INTEGRATED CARE SYSTEM INCLUDES SEVEN HOSPITALS, PROMOTING HEALTHCARE IN SOUTH-CENTRAL KENTUCKY BY OWNING AND MANAGING PHYSICIAN PRACTICES AND AN...

PHYSICIAN SERVICES: MED CENTER HEALTH'S (MCH) INTEGRATED CARE SYSTEM INCLUDES SEVEN HOSPITALS, PROMOTING HEALTHCARE IN SOUTH-CENTRAL KENTUCKY BY OWNING AND MANAGING PHYSICIAN PRACTICES AND AN IMMEDIATE CARE CLINIC. THE PHYSICIAN PRACTICES COVER A WIDE RANGE OF MEDICAL SPECIALTIES, INCLUDING CARDIOLOGY, ANESTHESIA, ORTHOPAEDIC, VASCULAR AND CARDIOTHORACIC SURGERY, OTORHIOLARYNGOLOGY (ENT), NEUROSURGERY, HOSPITALISTS, OBSTETRICS, GYNECOLOGY, GENERAL SURGERY, BARIACTRIC SURGERY, HEMATOLOGY & ONCOLOGY, INFECTIOUS DISEASE, INTERNAL MEDICAL AND GENERAL MEDICINE. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.

Program 2

Expenses: $26,770,161 Revenue: $45,405,077

ADMINISTRATIVE PROGRAMS: MCH IS A HOLDING COMPANY FOR MULTIPLE NONPROFIT AND FOR-PROFIT CORPORATIONS AND PARTNERSHIPS (COLLECTIVELY, THE "AFFILIATES") ENGAGED IN VARIOUS ASPECTS OF THE HEALTHCARE...

ADMINISTRATIVE PROGRAMS: MCH IS A HOLDING COMPANY FOR MULTIPLE NONPROFIT AND FOR-PROFIT CORPORATIONS AND PARTNERSHIPS (COLLECTIVELY, THE "AFFILIATES") ENGAGED IN VARIOUS ASPECTS OF THE HEALTHCARE INDUSTRY. MCH OPERATES AND PROVIDES VARIOUS CORPORATE SUPPORT SERVICES FOR AFFILIATES INCLUDING BUT NOT LIMITED TO PATIENT BILLING, COLLECTIONS, ACCOUNTING, MATERIALS MANAGEMENT, ENGINEERING, SECURITY, HUMAN RESOURCES, INFORMATION SYSTEMS, AND ADMINISTRATIVE SUPPORT.

Program 3

Expenses: $17,303,352 Revenue: $20,151,733

REHABILITATIVE SERVICES: MCH PROMOTES HEALTHCARE IN SOUTH-CENTRAL KENTUCKY BY OPERATING A COMPREHENSIVE REHABILITATION FACILITY WHICH OFFERS PHYSICAL, OCCUPATIONAL, AND SPEECH THERAPY. IN ADDITION...

REHABILITATIVE SERVICES: MCH PROMOTES HEALTHCARE IN SOUTH-CENTRAL KENTUCKY BY OPERATING A COMPREHENSIVE REHABILITATION FACILITY WHICH OFFERS PHYSICAL, OCCUPATIONAL, AND SPEECH THERAPY. IN ADDITION, THE CORPORATION PROVIDES STAFFING FOR THERAPY SERVICES IN A RELATED HOME HEALTH AGENCY, TWO ACUTE CARE HOSPITALS, FOUR CRITICAL ACCESS HOSPITALS, A LONG-TERM ACUTE CARE HOSPITAL, AND ONE NURSING CARE FACILITY.

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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 $643,179

Program Service Revenue $179,796,449

Investment Income $14,158,436

Other Revenue $1,151,099

TOTAL REVENUE $195,749,163

Expense Breakdown

Grants Paid $894,842

Salaries & Benefits $126,114,770

Fundraising Expenses $0

Program Expenses $150,349,551

Other Expenses $51,450,867

TOTAL EXPENSES $178,460,479

Year-over-Year Comparison

	2024	2023	Change
Revenue	$195,749,163	$146,139,009	+0.3%
Expenses	$178,460,479	$141,569,052	+0.3%
Net Income	$17,288,684	$4,569,957	+2.8%

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

4172

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

$3,601,513

Total Directors

$2,865,257

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ELI JACKSON	SECRETARY	2.0	Officer Director	$2,740	$0	$2,740
MR JOE NATCHER	CHAIRMAN	2.0	Officer Director	$2,740	$0	$2,740
MRS CATHY BISHOP	VICE CHAIR	2.0	Officer Director	$2,740	$0	$2,740
MS CONNIE D SMITH	PRESIDENT / CEO	40.0	Officer Director	$1,353,837	$132,368	$1,486,205
DR GHAYTH HAMMAD	DIRECTOR	2.0	Director	$0	$0	$6,299
DR HUGH SIMS	DIRECTOR / PHYSICIAN	40.0	Director	$537,160	$40,996	$578,156
DR KAL SAHETYA	DIRECTOR	2.0	Director	$32,288	$0	$32,288
DR TRACY CROSS	PHYSICIAN	40.0	Director	$688,270	$49,379	$737,649
JUDGE MICHAEL BUCHANON	DIRECTOR	2.0	Director	$2,740	$0	$2,740
MR BRAD ODIL	DIRECTOR	2.0	Director	$2,740	$0	$2,740
MR GARY BROADY	DIRECTOR	2.0	Director	$2,740	$0	$2,740
MR TOMMY HOLDERFIELD	DIRECTOR	2.0	Director	$2,740	$0	$2,740
MR TOMMY LOVING	DIRECTOR	2.0	Director	$2,740	$0	$2,740
MR TONY WITTY	DIRECTOR	2.0	Director	$0	$0	$0
MS BEVERLY BOREN	DIRECTOR	2.0	Director	$2,740	$0	$2,740
MR DAVID GRAY	EXECUTIVE VICE PRESIDENT	38.0	Officer	$453,850	$49,504	$503,354
MR WADE STONE	EXECUTIVE VICE PRESIDENT	38.0	Officer	$465,735	$80,371	$546,106
MS KATRINA WOOD	EVP / CHIEF NURSING OFFICER	2.0	Officer	$0	$89,125	$406,156
MS MICHELE W LAWLESS	EXECUTIVE VICE PRESIDENT & CFO	38.0	Officer	$540,323	$111,149	$651,472
DR DIEGO CABRERA FERNANDEZ	PHYSICIAN	40.0	Highest	$812,227	$46,436	$858,663
DR GEORGE ALSINA	PHYSICIAN	40.0	Highest	$1,012,666	$33,539	$1,046,205
DR NARENDRA NATHOO	PHYSICIAN	40.0	Highest	$1,370,153	$50,015	$1,420,168
DR PAUL KELSEY	PHYSICIAN	40.0	Highest	$596,509	$46,317	$642,826
DR WALLACE CARTER	PHYSICIAN	40.0	Highest	$886,021	$76,072	$962,093

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	$195,749,163	$178,460,479	$204,611,549	$17,288,684
2024	$146,139,009	$141,569,052	$168,380,650	$4,569,957
2023	$124,978,176	$123,911,670	$156,059,027	$1,066,506
2022	$131,659,305	$118,837,029	$147,547,590	$12,822,276
2021	$122,447,229	$115,573,142	$137,613,530	$6,874,087
2020	$118,032,477	$114,508,816	$118,129,695	$3,523,661
2019	$108,949,706	$105,002,556	$105,472,534	$3,947,150
2018	$99,473,866	$93,835,104	$68,764,427	$5,638,762