THE SHELBY COUNTY MEMORIAL HOSPITA… - Form 990 Financial Data

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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

1920

Legal Domicile

Principal Officer

JULIE COVAULT

Phone

9374982311

Tax Period

2023-01-01 to 2023-12-31

THE SHELBY COUNTY MEMORIAL HOSPITAL ASSOCIATION, founded in 1920, is a major nonprofit in the Health Care sector that reported $121.2M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

TO MAINTAIN A PATIENT-CENTERED ENVIRONMENT THAT ENCOURAGES AND SUPPORTS INNOVATION AND TEAMWORK IN ACHIEVING EXCELLENCE. TO MAXIMIZE CUSTOMER SATISFACTION BY MEETING THE HIGHEST STANDARDS OF VALUE, SERVICE, AND PERFORMANCE. TO PROVIDE COMMUNITY LEADERSHIP BY ASSURING ACCESS TO THE HIGHEST QUALITY, COMPREHENSIVE HEALTH CARE SERVICES.

Program Service Accomplishments

Program 1

Expenses: $100,281,284 Revenue: $112,704,200

INPATIENT HEALTHCARE SERVICES: THERE WERE 2,892 ADMISSIONS TO THE HOSPITAL IN 2023, REPRESENTING 6,730 PATIENT DAYS OF CARE. THERE WERE 341 INPATIENT SURGERIES PERFORMED DURING 2023. OUTPATIENT...

INPATIENT HEALTHCARE SERVICES: THERE WERE 2,892 ADMISSIONS TO THE HOSPITAL IN 2023, REPRESENTING 6,730 PATIENT DAYS OF CARE. THERE WERE 341 INPATIENT SURGERIES PERFORMED DURING 2023. OUTPATIENT HEALTHCARE SERVICES: THERE WERE 100,028 OUTPATIENT REGISTRATIONS RECORDED IN 2023.SAME DAY SURGERY: THERE WERE 3,694 OUTPATIENT SURGERIES PERFORMED AT THE HOSPITAL IN 2023. EMERGENCY SERVICES 16,805; HOME HEALTH VISITS 19,402; HOSPICE 6,900; OCCUPATIONAL HEALTH VISITS 15,992; WILSON HEALTH MEDICAL GROUP OFFICE VISITS 130,253; HEALTH CARE SERVICES RELATED TO IMPROVING THE HEALTH OF THE COMMUNITY FOR BOTH INPATIENT AND OUTPATIENT PROGRAMS.

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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 $537,512

Program Service Revenue $106,328,722

Investment Income $5,632,087

Other Revenue $8,707,183

TOTAL REVENUE $121,205,504

Expense Breakdown

Grants Paid $0

Salaries & Benefits $60,285,966

Fundraising Expenses $0

Program Expenses $100,281,284

Other Expenses $61,321,628

TOTAL EXPENSES $121,607,594

Year-over-Year Comparison

	2023	2022	Change
Revenue	$121,205,504	$108,875,267	+0.1%
Expenses	$121,607,594	$118,500,321	+0.0%
Net Income	$-402,090	$-9,625,054	-1.0%

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

912

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

$1,135,036

Total Directors

$1,425,254

Key Employees

$289,315

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANICE BENANZER	CHAIR	1.00	Officer Director	$0	$0	$0
TOM MILLIGAN	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
JACKIE DAVIS	TREASURER/SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN DEEDS	TRUSTEE	1.00	Director	$0	$0	$0
MARIAN SPICER	TRUSTEE	1.00	Director	$0	$0	$0
DEVON BEER	TRUSTEE	1.00	Director	$0	$0	$0
ANDY COUNTS	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES EDELEN	TRUSTEE	1.00	Director	$0	$0	$0
PAUL DENTINGER	TRUSTEE	1.00	Director	$0	$0	$0
SHELLY GASSON	TRUSTEE	1.00	Director	$0	$0	$0
DR FRED HAUSSMAN	TRUSTEE	40.00	Director	$79,281	$6,342	$85,623
GARY HEITMEYER	TRUSTEE	1.00	Director	$0	$0	$0
DR ERIC PRENGER	TRUSTEE	40.00	Director	$297,352	$44,071	$341,423
JASON STIVER	TRUSTEE	1.00	Director	$0	$0	$0
DR MATTHEW VASKO	TRUSTEE	40.00	Director	$311,815	$42,887	$354,702
MARK KLOSTERMAN	CEO	40.00	Officer Director	$590,826	$52,680	$643,506
DOREEN LARSON	TRUSTEE PARTIAL TERM	1.00	Director	$0	$0	$0
JULIE COVAULT	COO	40.00	Officer	$441,937	$49,593	$491,530
MELISSA TALLMADGE	CHIEF NURSING OFFICER	40.00	Key Emp	$264,019	$25,296	$289,315
MICHAEL J VIETTI	PHYSICIAN	40.00	Highest	$712,435	$50,927	$763,362
FRANCIS N OGBOLU	PHYSICIAN	40.00	Highest	$646,357	$40,556	$686,913
ANDREW D MCDONALD	PHYSICIAN	40.00	Highest	$599,336	$50,276	$649,612
ROSEMARY MCCARTHY	PHYSICIAN	40.00	Highest	$559,018	$48,770	$607,788
DANIEL DILWORTH	PHYSICIAN	40.00	Highest	$542,557	$47,566	$590,123

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	$121,205,504	$121,607,594	$151,879,962	$-402,090
2022	$108,875,267	$118,500,321	$151,326,711	$-9,625,054
2021	$129,965,258	$115,129,421	$171,819,264	$14,835,837
2020	$107,618,870	$105,569,526	$163,614,480	$2,049,344
2019	$102,075,387	$98,417,076	$154,055,290	$3,658,311
2018	$101,616,606	$98,607,096	$144,266,240	$3,009,510

THE SHELBY COUNTY MEMORIAL HOSPITAL ASSOCIATION