DUKE HEALTH LAKE NORMAN REGIONAL MEDICAL CENTER INC (EIN 332476324) - Form 990 Financial Analysis & Trantor Score

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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

2024

Legal Domicile

Principal Officer

LISA M GOODLETT

Phone

9196688910

Tax Period

2024-12-18 to 2025-06-30

DUKE HEALTH LAKE NORMAN REGIONAL MEDICAL CENTER INC, founded in 2024, is a mid-sized nonprofit in the Health Care sector that reported $34.6M in total revenue in fiscal year 2024. Net assets of $301.4M represent 105 months of operating reserves.

Mission

DESCRIPTION OF ORGANIZATIONAL MISSION: DUKE HEALTH LAKE NORMAN (DHLN), KNOWN AS LAKE NORMAN REGIONAL MEDICAL CENTER PRIOR TO APRIL 1, 2025, HAS SERVED THE HEALTHCARE NEEDS OF THE GREATER LAKE NORMAN AREA, IREDELL COUNTY, AND SURROUNDING COUNTIES SINCE 1926. ON APRIL 1, 2025, DUKE HEALTH ACQUIRED THE 123-BED ACUTE-CARE HOSPITAL, EXPANDING COMMUNITY ACCESS TO DUKE HEALTH'S ARRAY OF SERVICES. AS A DUKE HEALTH HOSPITAL, DHLN PROVIDES HIGH-QUALITY CARE AND A POSITIVE HOSPITAL EXPERIENCE FOR PATIENTS, THEIR FAMILIES, AND THE COMMUNITY WE SERVE. DHLN STRIVES TO IMPROVE THE HEALTH AND LIVES OF ALL WHO COME TO US FOR CARE.

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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 $34,526,877

Investment Income $0

Other Revenue $43,053

TOTAL REVENUE $34,569,930

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,452,392

Fundraising Expenses $0

Program Expenses $30,288,652

Other Expenses $22,569,386

TOTAL EXPENSES $36,021,778

Year-over-Year Comparison

	2024	2023	Change
Revenue	$34,569,930	N/A	N/A
Expenses	$36,021,778	N/A	N/A
Net Income	$-1,451,848	$0	N/A

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

N/A

Employees

N/A

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

$5,584,725

Total Directors

$5,584,725

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG T ALBANESE MD	DIRECTOR/PRESIDENT	0.10	Officer Director	$0	$59,414	$2,338,899
LISA M GOODLETT	DIRECTOR/TREASURER	0.10	Officer Director	$0	$62,316	$1,315,876
THOMAS A OWENS MD	DIRECTOR/SECRETARY	0.10	Officer Director	$0	$76,073	$1,929,950

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	$34,569,930	$36,021,778	$313,555,900	$-1,451,848

DUKE HEALTH LAKE NORMAN REGIONAL MEDICAL CENTER INC