LEGACY SALMON CREEK HOSPITAL

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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

2002

Legal Domicile

Principal Officer

GEORGE J BROWN

Phone

5034155600

Tax Period

2024-04-01 to 2025-03-31

LEGACY SALMON CREEK HOSPITAL, founded in 2002, is a major nonprofit in the Health Care sector that reported $655.8M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $596.5M left a modest 9% surplus.

Mission

Legacy Salmon Creek Hospital (LSCH), established in 2005, provides acute and critical care in Vancouver, with 165 licensed beds. LSCH operates adult, pediatric, and OB/GYN hospitalist programs, as well as four primary care physician practices and thirteen specialty clinics. LSCH provides a comprehensive range of inpatient, clinical and diagnostic services in numerous medical specialties and subspecialties. LSCH is part of Legacy Health (Legacy).Our mission:Our legacy is good health for our people, our patients, our communities, and our world. We will work as a team to demonstrate our values:Respect - Treat all people with respect and compassion Service - Put the needs of our patients and their families first Quality - Deliver outstanding clinical services within healing environments Excellence - Set high standards and achieve them Responsibility - Be good stewards of our resources, ensuring access to care for all Innovation - Be progressive in our thinking and actions Leadership - Serv

Program Service Accomplishments

Program 1

Expenses: $437,861,385 Revenue: $614,926,215

LSCH was the State of Washington's first new hospital construction since 1979. The hospital opened in August 2005 with 165 licensed beds, all of which are single occupancy. LSCH provides a full array of hospital services, including surgery, diagnostics, inpatient and outpatient medical services, neonatal intensive care unit, pediatric, obstetrical, and emergency services. LSCH utilizes an electronic information system for medical records and physician order entry. Physicians are able to complete their entire patient records electronically and can remotely access patient records, including diagnostic images.In support of its mission, LSCH voluntarily provides medically necessary patient care services that are discounted or free of charge to persons who have insufficient resources and/or who are uninsured. During fiscal year 2025, LSCH provided financial assistance on approximately 17,657 patient accounts (of which 1,482 accounts received discounts totaling 100% of costs) and resulted in LSCH incurring roughly $11,925,800 in uncompensated costs associated with this program. In addition to charity care, LSCH provides services under various states' Medicaid programs for financially needy patients Medicare beneficiaries, and other government programs for which the cost of treating these patients exceeds the government payments received. During fiscal year 2025, LSCH incurred approximately $37,989,300, $66,347,900 and $3,715,000 in uncompensated costs attributable to Medicaid, Medicare and other government programs respectively. LSCH also provides a variety of other community benefit activities such as medical education, donations to other charitable entities, research, and other health improvement services, which totaled roughly $8,171,000 during fiscal year 2025.LSCH is part of Legacy, which collectively provided over $62 million, $261 million, $319 million, and $18 million in uncompensated care attributable to its financial assistance, Medicaid, Medicare, and other government programs, respectively, in fiscal year 2025. In addition, Legacy provided over $39 million in other community benefit activities during fiscal year 2025.

Program 2

Expenses: $48,523,128 Revenue: $41,710,521

LSCH operates adult, pediatric, and OB/GYN hospitalist programs, as well as four primary care physician practices and thirteen specialty clinics in southwest Washington. From it's opening in 2005...

LSCH operates adult, pediatric, and OB/GYN hospitalist programs, as well as four primary care physician practices and thirteen specialty clinics in southwest Washington. From it's opening in 2005, LSCH has used an electronic health information system for medical records and physician order entry.

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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 $384,201

Program Service Revenue $656,636,736

Investment Income $0

Other Revenue $-1,202,326

TOTAL REVENUE $655,818,611

Expense Breakdown

Grants Paid $246,977

Salaries & Benefits $326,916,313

Fundraising Expenses $0

Program Expenses $486,384,513

Other Expenses $269,331,398

TOTAL EXPENSES $596,494,688

Year-over-Year Comparison

	2024	2023	Change
Revenue	$655,818,611	$566,155,674	+0.2%
Expenses	$596,494,688	$532,903,196	+0.1%
Net Income	$59,323,923	$33,252,478	+0.8%

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

N/A

Volunteers

306

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

$6,645,300

Total Directors

$8,476,105

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHRYN CORREIA	President & CEO	0.00	Officer Director	$0	$79,606	$2,784,747
GEORGE J BROWN MD	President & CEO	3.00	Officer Director	$0	$3,556	$1,654,718
ANITA N IYENGER	SR VP	0.00		$0	$120,472	$1,289,555
JONATHAN E AVERY	SR VP	0.00		$0	$128,988	$1,279,428
MELINDA J MULLER MD	SR VP	0.00		$0	$96,202	$1,004,135
NATHALIE G JOHNSON MD	BOARD DIRECTOR	3.00	Director	$0	$35,423	$935,176
JOHN J KENAGY	SR VP	0.00		$0	$92,243	$887,764
CRAIG R ARMSTRONG	Secretary	3.00	Officer Director	$0	$51,743	$867,956
ANNA LOOMIS	CFO & TREASURER	0.00	Officer Director	$0	$28,749	$811,405
LISA J GOREN	SR VP	0.00		$0	$91,904	$757,451
OLA A LAFI MD	CARDIOLOGIST	40.00		$724,789	$25,516	$750,305
JON J HERSEN	PRESIDENT	40.00		$647,520	$88,226	$735,746
KECIA M KELLY DNP	SR VP	0.00		$0	$77,037	$735,418
MAUREEN A BRADLEY	SR VP	0.00		$0	$75,167	$692,718
JOE FRANKHOUSE MD	BOARD DIRECTOR	3.00	Director	$0	$77,614	$686,049
CARBER C HUANG MD	SURGEON	40.00		$584,676	$95,987	$680,663
MATTHEW I FOLEY MD	SURGEON	40.00		$582,254	$85,208	$667,462
WON S LEE MD	ONCOLOGIST	40.00		$563,858	$62,389	$626,247
SONJA O STEVES	FORMER SR. VP	0.00		$0	$47,505	$614,791
JOHN BUCKMASTER MD	PERINATOLOGIST	40.00		$561,653	$31,748	$593,401
GREGORY R SAUNDERS	VP CMO	40.00		$528,287	$49,281	$577,568
KERRIN E GILLESPIE	CFO	0.00	Officer Director	$0	$0	$486,474
CAROLYN A COGGINS	VP	40.00		$422,798	$35,123	$457,921
TERESA L HANDY	VP	40.00		$361,410	$80,363	$441,773
TIMOTHY J BOCK	VP CNO	40.00		$355,733	$83,985	$439,718
SETH R PODOLSKY MD	FORMER SR VP	0.00		$0	$6,445	$347,995
BRYCE R HELGERSON	FORMER SR. VP	0.00		$0	$0	$336,721
TRENT S GREEN	FORMER SR. VP	0.00		$0	$3,679	$318,409
LESLIE ROOT MD	BOARD DIRECTOR	3.00	Director	$0	$1	$52,080
NANCY HORTON	BOARD DIRECTOR	3.00	Director	$0	$0	$25,000
NANCY R LOCKE	BOARD DIRECTOR	3.00	Director	$0	$0	$25,000
JONATHAN G HILL	FORMER DIRECTOR	0.00		$0	$11,190	$23,828
CHARLES WILHOITE	Chairman	4.00	Officer Director	$0	$0	$22,500
DAVID RAMUS	VICE CHAIR	4.00	Officer Director	$0	$0	$17,500
SAMIR DESAI MD	BOARD DIRECTOR	3.00	Director	$0	$0	$15,000
PATRICK REITEN	BOARD DIRECTOR	3.00	Director	$0	$0	$15,000
JERRY D PETTY	BOARD DIRECTOR	3.00	Director	$0	$0	$15,000
GAYLE GOSCHIE	BOARD DIRECTOR	3.00	Director	$0	$0	$12,500
LYNN T GUST	BOARD DIRECTOR	3.00	Director	$0	$0	$12,500
NASREEN ILIAS-KHAN MD	BOARD DIRECTOR	3.00	Director	$0	$0	$7,500
JEFFREY BARBER	BOARD DIRECTOR	3.00	Director	$0	$0	$7,500
JACK A FRIEDMAN	BOARD DIRECTOR	3.00	Director	$0	$0	$7,500
EDGAR NAVAS	BOARD DIRECTOR	3.00	Director	$0	$0	$7,500
LISA WYNN FREEDMAN	BOARD DIRECTOR	3.00	Director	$0	$0	$7,500
BISHOP DIANA AKIYAMA	BOARD DIRECTOR	3.00	Director	$0	$0	$0
BISHOP LAURIE LARSON CAESAR	BOARD DIRECTOR	3.00	Director	$0	$0	$0

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	$655,818,611	$596,494,688	$738,834,475	$59,323,923
2024	$566,155,674	$532,903,196	$688,927,465	$33,252,478
2023	$535,557,922	$521,423,147	$654,244,936	$14,134,775
2022	$493,579,280	$470,510,002	$661,709,500	$23,069,278
2021	$445,259,851	$392,825,358	$645,493,759	$52,434,493
2020	$444,002,528	$386,995,258	$561,416,626	$57,007,270
2019	$407,638,612	$355,325,395	$502,082,187	$52,313,217
2018	$385,901,642	$337,803,416	$458,194,859	$48,098,226