HANCOCK REGIONAL HOSPITAL FOUNDATI… - 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

1982

Legal Domicile

Principal Officer

KEVIN HARVEY

Phone

3174684583

Tax Period

2023-01-01 to 2023-12-31

HANCOCK REGIONAL HOSPITAL FOUNDATION, founded in 1982, is a community nonprofit in the Health Care sector that reported $2.6M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $978K, a strong 37% operating margin.

Mission

TO SUPPORT THE ADVANCEMENT OF HEALTHCARE AND WELLNESS IN THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $1,386,861

THE HANCOCK REGIONAL HOSPITAL FOUNDATION WAS INCORPORATED IN SEPTEMBER 1982. AS OUTLINED IN THE ARTICLES OF INCORPORATION FOR THE HOSPITAL FOUNDATION, ARTICLE 2, SECTION 1, STATES THE PURPOSE OF THE CORPORATION BEING:TO RAISE AND EXPEND FUNDS FOR THE BENEFIT OF HANCOCK REGIONAL HOSPITAL AND ANY ORGANIZATION OPERATED, SUPERVISED, OR CONTROLLED BY OR IN CONNECTION WITH IT. SAID FUNDS ARE TO BE EXPENDED FOR THE FOLLOWING PURPOSES -(1) CAPITAL IMPROVEMENTS (2) EDUCATIONAL PROGRAMS INCLUDING SCHOLARSHIPS (3) MEDICAL OR HOSPITAL RELATED RESEARCH OR (4) INITIAL CAPITALIZATION FOR NEW OR EXPERIMENTAL SERVICES.

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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 $2,453,815

Program Service Revenue $0

Investment Income $72,115

Other Revenue $107,964

TOTAL REVENUE $2,633,894

Expense Breakdown

Grants Paid $1,030,481

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,386,861

Other Expenses $625,501

TOTAL EXPENSES $1,655,982

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,633,894	$3,375,815	-0.2%
Expenses	$1,655,982	$2,685,311	-0.4%
Net Income	$977,912	$690,504	+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

N/A

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

$167,498

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN HARVEY	CHAIR/OFFICER	2.00	Officer Director	$0	$0	$0
TONYA GALBRAITH	VICE CHAIR/OFFICER	2.00	Officer Director	$0	$0	$0
MIKE GRAF	TREASURER/OFFICER	2.00	Officer Director	$0	$0	$0
PEGGY CARSON	SECRETARY/OFFICER	2.00	Officer Director	$0	$0	$0
DENISE ARLAND	BOARD MEMBER	2.00	Director	$0	$0	$0
TOM BUTLER	BOARD MEMBER	2.00	Director	$0	$0	$0
DEE CARMICHAEL	BOARD MEMBER	2.00	Director	$0	$0	$0
TIM CLARK	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN DAVIS	BOARD MEMBER	2.00	Director	$0	$0	$0
DR MEG FITZSIMMONS	BOARD MEMBER	2.00	Director	$0	$0	$0
SCOTT KLEINE	BOARD MEMBER	2.00	Director	$0	$0	$0
FLORENCE MAY	BOARD MEMBER	2.00	Director	$0	$0	$0
JEFF MUEGGE	BOARD MEMBER	2.00	Director	$0	$0	$0
RAY POHLAND	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVID STILLINGER	BOARD MEMBER	2.00	Director	$0	$0	$0
GUY TITUS	BOARD MEMBER	2.00	Director	$0	$0	$0
JASON WHITE	BOARD MEMBER	2.00	Director	$0	$0	$0
BOB WORTMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
NANCY DAVIS	EXECUTIVE DIRECTOR	40.00	Officer	$0	$31,920	$167,498

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	$2,633,894	$1,655,982	$21,657,046	$977,912
2022	$3,375,815	$2,685,311	$18,507,737	$690,504
2021	$3,091,026	$951,342	$19,964,952	$2,139,684
2020	$2,037,784	$997,097	$15,446,439	$1,040,687
2019	$2,819,259	$1,096,286	$12,877,156	$1,722,973
2018	$2,148,569	$849,185	$9,443,707	$1,299,384

HANCOCK REGIONAL HOSPITAL FOUNDATION