UNION HOSPITAL FOUNDATION INC

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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

1985

Legal Domicile

Principal Officer

MARGOT GILLESPIE

Phone

8122387534

Tax Period

2023-01-01 to 2023-12-31

UNION HOSPITAL FOUNDATION INC, founded in 1985, is a community nonprofit in the Health Care sector that reported $2.3M in total revenue in fiscal year 2023. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $2.0M left a modest 12% surplus.

Mission

SUPPORT ADVANCES IN MEDICAL CARE AND INITIATIVES WHICH IMPROVE HEALTH FOR THE RESIDENTS OF THE WABASH VALLEY BY MAKING GRANTS TO UNION HOSPITAL, INC., UNION HOSPITAL HEALTH SERVICES, INC. AND OTHER QUALIFIED ORGANIZATIONS WHICH SERVE THIS PURPOSE.

Program Service Accomplishments

Program 1

Expenses: $1,651,340

PROGRAM EXPENSES RELATED TO SUPPORTING ADVANCES IN MEDICAL CARE AND INITIATIVES WHICH IMPROVE HEALTH FOR THE RESIDENTS OF THE WABASH VALLEY BY MAKING GRANTS TO UNION HOSPITAL, INC., UNION HOSPITAL...

PROGRAM EXPENSES RELATED TO SUPPORTING ADVANCES IN MEDICAL CARE AND INITIATIVES WHICH IMPROVE HEALTH FOR THE RESIDENTS OF THE WABASH VALLEY BY MAKING GRANTS TO UNION HOSPITAL, INC., UNION HOSPITAL HEALTH SERVICES, INC. AND OTHER QUALIFIED ORGANIZATIONS TO FURTHER THE DELIVERY OF HEALTHCARE SERVICES TO THE WABASH VALLEY.THE FOUNDATION RECEIVES MANY DONATIONS ON BEHALF OF UNION HOSPITAL AND OTHER CHARITABLE ORGANIZATIONS RELATED TO THE FOUNDATION'S MISSION. THESE DONATIONS HELD ON THE HOSPITAL'S BEHALF ARE RECORDED IN AGENCY LIABILITY ACCOUNTS ON THE FOUNDATION'S BALANCE SHEET. DURING THE YEAR THERE WAS APPROXIMATELY $520,153 IN AGENCY GRANTS APPROVED FOR DISBURSEMENT.

Program 2

Expenses: $33,900

ACADEMIC SCHOLARSHIP AWARDS TO BE APPLIED TO THE TUITION AND RELATED EDUCATION EXPENSES OF NUMEROUS STUDENTS ATTENDING VARIOUS COLLEGES AND UNIVERSITIES.

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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 $1,116,356

Program Service Revenue $0

Investment Income $905,725

Other Revenue $231,611

TOTAL REVENUE $2,253,692

Expense Breakdown

Grants Paid $1,256,064

Salaries & Benefits $458,701

Fundraising Expenses $23,155

Program Expenses $1,685,240

Other Expenses $278,996

TOTAL EXPENSES $1,993,761

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,253,692	$6,091,608	-0.6%
Expenses	$1,993,761	$3,143,542	-0.4%
Net Income	$259,931	$2,948,066	-0.9%

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

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

$1,044,645

Total Directors

$2,732,456

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARGOT GILLESPIE	CHAIRPERSON	4.00	Officer Director	$0	$0	$0
MARY DOTI	VICE-CHAIRMAN	1.00	Officer Director	$0	$0	$0
SANTHANA NAIDU	SECRETARY	1.00	Officer Director	$0	$0	$0
MARLENE LENZ	ASSISTANT SECRETARY	1.00	Officer Director	$0	$0	$0
CARRIE MASCHINO	TREASURER	1.00	Officer Director	$0	$0	$0
MATTHEW NEALON	ASST. TREASURER	7.00	Officer Director	$0	$44,768	$784,989
JULIE BOWERS	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT R BROWN	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD BURGER	DIRECTOR	1.00	Director	$0	$0	$0
JO EINSTANDIG	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ETLING	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FRIEDRICH	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT W HAERR MD	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN M HOLMAN	DIRECTOR	20.00	Director	$0	$40,333	$1,687,811
MARK METHENY	DIRECTOR	1.00	Director	$0	$0	$0
DONALD SCOTT	DIRECTOR	1.00	Director	$0	$0	$0
ERIK SOUTHARD	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES COCHRAN III MD	DIRECTOR	1.00	Director	$0	$0	$0
HICHAM RAHMOUNI	DIRECTOR	1.00	Director	$0	$0	$0
JOEL HARBAUGH	EXECUTIVE DIRECTOR PARTIAL TERM	60.00	Officer Director	$0	$17,137	$148,576
KELLY WALKER	INTERIM PRESIDENT	40.00	Officer Director	$0	$17,610	$111,080

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	$2,253,692	$1,993,761	$26,087,342	$259,931
2022	$6,091,608	$3,143,542	$24,156,820	$2,948,066
2021	$1,985,881	$1,278,346	$25,634,737	$707,535
2020	$2,956,727	$1,335,151	$23,514,261	$1,621,576
2019	$1,209,158	$1,520,992	$19,545,067	$-311,834
2018	$1,301,554	$1,848,427	$18,125,905	$-546,873