Monroe Health Services Inc

EIN: 320583236 501(c)(3) Health Care

TUPELO, MS

Total Revenue
$63,377,659
Total Expenses
$47,970,990
Total Assets
$52,045,089
Net Assets
$38,409,793
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
DE
Phone
6623773978
Tax Period
2023-10-01 to 2024-09-30

Monroe Health Services Inc, founded in 2018, is a mid-sized nonprofit in the Health Care sector that reported $63.4M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $15.4M, a strong 24% operating margin.

Mission

MONROE HEALTH SERVICES OWNS AND OPERATES A 95 BED HOSPITAL AND RELATED OUTPATIENT CARE FACILITIES IN AMORY, MISSISSIPPI CALLED NORTH MISSISSIPPI MEDICAL CENTER GILMORE-AMORY (NMMC GILMORE-AMORY). NMMC GILMORE-AMORY IS PART OF THE NORTH MISSISSIPPI HEALTH SERVICES (NMHS) ORGANIZATION. THE MISSION OF NMHS IS TO CONTINUOUSLY IMPROVE THE HEALTH OF THE PEOPLE OF OUR REGION. NMMC GILMORE-AMORY WORKS TO ACHIEVE THIS CORPORATE MISSION TO IMPROVE THE HEALTH OF THE PEOPLE OF THIS REGION BY PROVIDING CONVENIENTLY ACCESSIBLE, COST-EFFECTIVE HEALTH CARE OF THE HIGHEST QUALITY.

Program Service Accomplishments

Program 1
Expenses: $46,162,646 Revenue: $62,625,943

NMMC GILMORE-AMORY SERVES MONROE COUNTY AND THE SURROUNDING AREA. IN FISCAL YEAR 2024, THERE WERE 2,206 INPATIENT ADMISSIONS, 22,207 EMERGENCY DEPARTMENT VISITS, 87,249 OUTPATIENT VISITS, AND 14,928...

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NMMC GILMORE-AMORY SERVES MONROE COUNTY AND THE SURROUNDING AREA. IN FISCAL YEAR 2024, THERE WERE 2,206 INPATIENT ADMISSIONS, 22,207 EMERGENCY DEPARTMENT VISITS, 87,249 OUTPATIENT VISITS, AND 14,928 HOSPITAL BASED CLINIC VISITS. NMMC GILMORE-AMORY USES PRESS GANEY, THE LARGEST PATIENT SATISFACTION SURVEY COMPANY IN THE NATION, THAT WORKS WITH MORE THAN 7,000 HEALTHCARE FACILITIES. RANDOMLY SELECTED PATIENTS ARE ASKED ABOUT THEIR EXPERIENCE WITH INPATIENT, OUTPATIENT, ER, AND LONG-TERM CARE SERVICES. ONE OF THE PRIMARY WAYS NMMC GILMORE-AMORY SERVES THE COMMUNITY IS BY PROVIDING CARE TO VARIOUS POPULATIONS FOR WHICH IT RECEIVES NO COMPENSATION OR RECEIVES COMPENSATION AT RATES SIGNIFICANTLY LESS THAN ESTABLISHED RATES. THE BOARD OF DIRECTORS OF NMMC GILMORE-AMORY HAS ESTABLISHED A POLICY UNDER WHICH THE HOSPITAL PROVIDES CARE, WITHOUT CHARGE, TO NEEDY MEMBERS OF ITS COMMUNITY. THE FINANCIAL ASSISTANCE POLICY STATES THAT NMMC GILMORE-AMORY WILL PROVIDE EMERGENCY AND MEDICALLY NECESSARY INPATIENT AND OUTPATIENT HOSPITAL SERVICES TO PATIENTS FREE OF CHARGE WITH HOUSEHOLD INCOME LEVELS AT OR BELOW 100% OF THE FEDERAL POVERTY LEVEL. THE POLICY FURTHER PROVIDES, PATIENTS WITH HOUSEHOLD INCOME LEVELS BETWEEN 101% AND 150% OF THE FEDERAL POVERTY LEVEL ARE ELIGIBLE TO RECEIVE SERVICES AT A DISCOUNTED RATE. THE DISCOUNT WILL BE PRO-RATED BASED ON THE PATIENT'S GROSS FAMILY INCOME AS A PERCENTAGE OF THE FEDERAL POVERTY LEVEL. THE POLICY APPLIES TO INDIVIDUALS WHO RESIDE IN MONROE COUNTY. PATIENTS FROM OUTSIDE THE COUNTY MAY ALSO BE GRANTED CHARITY CARE BASED ON THE JUDGMENT OF NMMC GILMORE-AMORY MANAGEMENT DEPENDING ON THEIR INDIVIDUAL CIRCUMSTANCES. THE POLICY ALSO REQUIRES THE PATIENT TO COOPERATE FULLY WITH NMMC GILMORE-AMORY REQUEST FOR INFORMATION WITH WHICH TO VERIFY THE PATIENT'S ELIGIBILITY. FOLLOWING THAT POLICY, THE HOSPITAL MAINTAINS RECORDS TO IDENTIFY AND MONITOR THE LEVEL OF CHARITY CARE IT PROVIDES. THESE RECORDS INCLUDE THE AMOUNT OF CHARGES FORGONE FOR SERVICES AND SUPPLIES FURNISHED UNDER ITS CHARITY CARE POLICY. CHARGES FORGONE, BASED ON ESTABLISHED RATES, TOTALED APPROXIMATELY $3,019,218 IN FISCAL YEAR 2024. BASED ON THE GROSS CHARGES PROVIDED TO CHARITY PATIENTS COMPARED TO TOTAL HOSPITAL GROSS CHARGES, 3.75% OF ALL SERVICES IN FISCAL YEAR 2024 WERE PROVIDED ON A CHARITY BASIS. THE NET COST OF CHARITY CARE PROVIDED BY NMMC GILMORE-AMORY WAS APPROXIMATELY $1,752,020 IN FISCAL YEAR 2024 THE TOTAL COST ESTIMATE IS BASED ON THE RATIO OF COSTS TO CHARGES FOR NMMC GILMORE-AMORY. ALL THE FOREGONE CHARGES MENTIONED ABOVE ARE NETTED AGAINST PATIENT SERVICE REVENUE TO ARRIVE AT NET PATIENT SERVICE REVENUE AS REFLECTED AS PROGRAM SERVICE REVENUE ON PART VIII OF FORM 990 IN ORDER TO BE CONSISTENT WITH FINANCIAL STATEMENT REPORTING AND ARE NOT REPORTED AS FUNCTIONAL EXPENSES ON THE TAX RETURN.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $635,000
Program Service Revenue $62,625,943
Investment Income $48,858
Other Revenue $67,858
TOTAL REVENUE $63,377,659

Expense Breakdown

Grants Paid $0
Salaries & Benefits $25,667,677
Fundraising Expenses $0
Program Expenses $46,162,646
Other Expenses $22,303,313
TOTAL EXPENSES $47,970,990

Year-over-Year Comparison

2023 2022 Change
Revenue $63,377,659 $50,310,767 +0.3%
Expenses $47,970,990 $44,589,787 +0.1%
Net Income $15,406,669 $5,720,980 +1.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
N/A
Independent Members
N/A
Employees
405
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
4
$4,748,648
Total Directors
1
$682,564
Key Employees
1
$317,170
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRUCE TOPPIN SECRETARY 0.0
Officer Director
$0 $14,992 $682,564
BRUCE TOPPIN SECRETARY 1.0
Officer
$0 $14,992 $682,564
MICHAEL S SPEES PRESIDENT & CEO 0.5
Officer
$0 $27,228 $2,346,750
SHARON NOBLES TREASURER 1.0
Officer
$0 $29,248 $1,036,770
JAMIE RODGERS ADMINISTRATOR 20.0
Key Emp
$310,498 $6,672 $317,170
ANGELA SERIO CRNA 40.0
Highest
$190,740 $11,584 $202,324
COLEMAN N LEECH RN 40.0
Highest
$147,481 $4,330 $151,811
KATIE L MCCLAIN RN 40.0
Highest
$143,043 $4,381 $147,424
RICKY GAULT CRNA 40.0
Highest
$179,187 $6,191 $185,378
RONDA S SWEET CNO 40.0
Highest
$175,306 $6,192 $181,498
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 $63,377,659 $47,970,990 $52,045,089 $15,406,669
2023 $50,310,767 $44,589,787 $32,590,532 $5,720,980
2022 $48,759,152 $43,082,973 $26,274,701 $5,676,179
2021 $45,516,589 $41,470,304 $25,250,042 $4,046,285
2020 $40,173,548 $43,305,998 $25,287,995 $-3,132,450
2019 $41,940,210 $45,961,467 $23,890,871 $-4,021,257
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