LIMA MEMORIAL JOINT OPERATING COMPANY (EIN 341883284) - 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

1999

Legal Domicile

Principal Officer

MICHAEL D SWICK

Phone

4192283335

Tax Period

2023-01-01 to 2023-12-31

LIMA MEMORIAL JOINT OPERATING COMPANY, founded in 1999, is a major nonprofit in the Health Care sector that reported $297.5M in total revenue in fiscal year 2023. Expenses of $277.8M left a modest 7% surplus.

Mission

AS ONE OF THE LARGEST NOT-FOR-PROFIT HEALTH CARE ORGANIZATIONS IN WEST CENTRAL OHIO, LIMA MEMORIAL HEALTH SYSTEM IS COMMITTED TO IMPROVING THE QUALITY OF LIFE IN OUR COMMUNITIES THROUGH COMPREHENSIVE HEALTH SERVICES. LIMA MEMORIAL IS CONTINUALLY IMPROVING ITS SERVICES AND FACILITIES BY KEEPING UP WITH THE LATEST TECHNOLOGIES, PROVIDING CONTINUING EDUCATION TO OUR HEALTH CARE TEAM AND UPDATING OUR FACILITIES. OUR PATIENT SATISFACTION NUMBERS CONTINUE TO IMPROVE AND WE CONTINUALLY ACHIEVE QUALITY SCORES THAT ARE BETTER THEN THE STATE AND NATIONAL AVERAGES.

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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 $0

Program Service Revenue $292,248,769

Investment Income $4,453,805

Other Revenue $817,529

TOTAL REVENUE $297,520,103

Expense Breakdown

Grants Paid $71,026

Salaries & Benefits $127,768,511

Fundraising Expenses $212,119

Program Expenses $221,370,520

Other Expenses $149,951,322

TOTAL EXPENSES $277,790,859

Year-over-Year Comparison

	2023	2022	Change
Revenue	$297,520,103	$291,840,226	+0.0%
Expenses	$277,790,859	$257,732,854	+0.1%
Net Income	$19,729,244	$34,107,372	-0.4%

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

1976

Volunteers

304

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

$1,313,556

Total Directors

Key Employees

$878,472

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN H JOHNSON	CHAIR	1.00	Officer Director	$0	$0	$0
PHILLIP R BUELL	TREASURER	1.00	Officer Director	$0	$0	$0
R GRIFFIN JULIUS	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
MARA RENDINA	SECRETARY	1.00	Officer Director	$0	$0	$0
CYNTHIA E SPIERS	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES F BLAIR	BOARD MEMBER	1.00	Director	$0	$0	$0
PRAVEEN K MALHOTRA	BOARD MEMBER	1.00	Director	$0	$0	$0
CLYDE R RAUCH	BOARD MEMBER	1.00	Director	$0	$0	$0
TRACIE J SANCHEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
SCOTT L SHUTT	BOARD MEMBER	1.00	Director	$0	$0	$0
DEBI BROBST	BOARD MEMBER	1.00	Director	$0	$0	$0
JANE M WOOD	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL D SWICK	PRESIDENT/CEO (SEE SCH J)	44.00	Officer	$818,346	$129,892	$948,238
LYNN M CARPENTER	VICE PRESIDENT/COO (SEE SCH J)	40.00	Officer	$322,814	$42,504	$365,318
ERIC POHJALA	VP OF FINANCE/CFO (SEE SCH J)	40.00	Key Emp	$454,334	$60,625	$514,959
SUSAN KAUFMAN DO	VP OF MEDICAL AFFAIRS (SEE SCH J)	30.00	Key Emp	$358,846	$4,667	$363,513
DENNIS E MORRIS	PRN COURIER	40.00	Highest	$358,845	$2,257	$361,102
JOSHUA L HINES	EXECUTIVE DIRECTOR - INFORMATION TECHNOLOGY	40.00	Highest	$279,509	$16,554	$296,063
BRETT A RANDOLPH	DIRECTOR OF PHARMACY CARE TRAN	40.00	Highest	$215,657	$21,233	$236,890
BURLIN L SHERRICK	EXECUTIVE DIRECTOR - ANCILLARY SERVICES	40.00	Highest	$180,610	$16,828	$197,438
TINA M VERHOFF	DIRECTOR - HUMAN RESOURCES	40.00	Highest	$175,522	$9,617	$185,139
ROBERT E ARMSTRONG JR	SENIOR VP/CAO (SEE SCH J)	40.00		$466,408	$67,235	$533,643
ANN-MARIE JEAN POHL	VICE PRESIDENT/CNO (SEE SCH J)	50.00		$346,650	$30,140	$376,790

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	No data	No data	No data	No data
2023	$297,520,103	$277,790,859	$564,316,732	$19,729,244
2022	$291,840,226	$257,732,854	$536,035,911	$34,107,372
2021	$279,061,376	$222,490,359	$544,714,606	$56,571,017
2020	$230,134,222	$201,047,959	$495,750,474	$29,086,263
2019	$222,586,027	$192,551,195	$429,771,985	$30,034,832
2018	$208,560,166	$184,745,906	$362,222,741	$23,814,260

LIMA MEMORIAL JOINT OPERATING COMPANY