SALEM COMMUNITY 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

1913

Legal Domicile

Principal Officer

Anita Hackstedde MD

Phone

3303327214

Tax Period

2023-07-01 to 2024-06-30

SALEM COMMUNITY HOSPITAL, founded in 1913, is a major nonprofit in the Health Care sector that reported $116.7M in total revenue in fiscal year 2023. Expenses of $106.6M left a modest 9% surplus.

Mission

"To Serve. To Care. To Heal," encompasses the Hospital's mission of providing high quality care on both an inpatient and outpatient basis; and addresses our patients' health care needs at each life stage, within our available resources. SRMC seeks to provide a broad range of diagnostic, inpatient, outpatient and emergency services appropriate for a community-based hospital, while ensuring that sufficient, high-quality primary and specialty physician services are available and accessible to residents of our service area.

Program Service Accomplishments

Program 1

Expenses: $91,193,028 Revenue: $98,668,543

SRMC's mission and purpose is achieved by providing quality care to the sick and injured on both an inpatient and outpatient basis, while addressing our patients' healthcare needs at each life stage, within our available resources. The Medical Center seeks to provide a broad range of diagnostic, inpatient, outpatient and emergency services appropriate for a community hospital, while ensuring that sufficient, high-quality primary and specialty physician services are available and accessible to residents of our service area. During fiscal year 2024, SRMC provided comprehensive healthcare services including: 2,043 Admissions; 2,738 Surgeries; and 18,087 Emergency Department visits. In support of this commitment, SRMC operates a full-time, 24-hour Emergency Department, and treats all patients requiring emergency medical care, irrespective of their financial means. The Medical Center also accepts all patients covered by Medicare, Medicaid and General Assistance. For fiscal year 2024, costs incurred by SRMC for unpaid costs of the Medicaid program were $3,503,495 and unreimbursed costs from other governmental programs were $250,030. These community benefits, arising from patient care provided by SRMC are documented to help to relieve a governmental financial and programmatic burden as evidenced through the Medical Center's charitable purpose. The organization also provided charitable support at a cost of $517,917 to patients who qualified.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,061,849

Program Service Revenue $99,203,403

Investment Income $15,082,337

Other Revenue $395,827

TOTAL REVENUE $116,743,416

Expense Breakdown

Grants Paid $0

Salaries & Benefits $38,634,474

Fundraising Expenses $0

Program Expenses $91,193,028

Other Expenses $67,917,657

TOTAL EXPENSES $106,552,131

Year-over-Year Comparison

	2023	2022	Change
Revenue	$116,743,416	$113,478,339	+0.0%
Expenses	$106,552,131	$117,279,252	-0.1%
Net Income	$10,191,285	$-3,800,913	-3.7%

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

726

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

$732,619

Total Directors

$22,000

Key Employees

$485,988

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Anita Hackstedde	President/CEO	35	Officer	$481,107	$31,641	$512,748
Dr Richard Beatty	Chief Medical Officer	30	Key Emp	$0	$9,817	$290,115
Kimberly Jenkins	VP Finance	38	Officer	$190,691	$29,180	$219,871
Keith Meredith	VP Clinical Operations	40	Key Emp	$178,277	$17,596	$195,873
Sue Bryarly	Director of Pharmacy	40	Highest	$151,965	$40,626	$192,591
Corey Less	Pharmacist	40	Highest	$128,530	$39,784	$168,314
Robin Weyant	Asst VP of Nursing	40	Highest	$145,203	$22,122	$167,325
Deborah Pietrzak	Asst VP Marketing & Planning	40	Highest	$140,146	$6,485	$146,631
Mike Giangardella	VP Administration	38		$125,509	$15,018	$140,527
Jacqueline Boyle	VP Human Resources	38.00	Highest	$133,925	$6,198	$140,123
Joseph Rettig MD	Chief of Staff (7/1/23-12/31/24)	4.00	Director	$10,500	$0	$10,500
Lauren Fredrickson MD	Director	1.00	Director	$10,000	$0	$10,000
Peter Apicella MD	Director	1.00	Director	$1,500	$0	$1,500
Jeffrey Zimmerman	Director	1.00	Director	$0	$0	$0
Nelson Witmer	Vice Chair	1.00	Director	$0	$0	$0
Denise Harlan	Chair	1	Director	$0	$0	$0
Terry Criss	Director	1.00	Director	$0	$0	$0
Todd Olson	Secretary	1.00	Director	$0	$0	$0
Bruce Rhodes Jr	Director	1.00	Director	$0	$0	$0
Gina Richardson	Treasurer	1.00	Director	$0	$0	$0
Ruth Ann Rinto	Director	1.00	Director	$0	$0	$0
Heather Milliken Mercer	Director	1.00	Director	$0	$0	$0
Lynn Scullion O D	Director	1.00	Director	$0	$0	$0
Douglas Shodd Jr	Director	1.0	Director	$0	$0	$0
Scott Tuel	Director	1.00	Director	$0	$0	$0
William Young EdD	Director	1.00	Director	$0	$0	$0
Bart Brine MD	Chief of Staff (1/01/24-6/30/24)	4.00	Director	$0	$0	$0
Sara Sutter	Director	1.00	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	No data	No data	No data	No data
2024	$116,743,416	$106,552,131	$278,079,983	$10,191,285
2023	$113,478,339	$117,279,252	$278,717,795	$-3,800,913
2022	$130,117,128	$112,312,408	$285,034,235	$17,804,720
2021	$130,270,087	$104,591,146	$290,042,052	$25,678,941
2020	$115,912,146	$103,629,146	$254,361,671	$12,283,000
2019	$118,406,152	$105,934,502	$240,445,095	$12,471,650
2018	$110,587,566	$110,427,178	$238,336,672	$160,388