CENTRAL INDIANA HEALTH SYSTEM CARD… - 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

1991

Legal Domicile

Phone

3147338000

Tax Period

2023-07-01 to 2024-06-30

CENTRAL INDIANA HEALTH SYSTEM CARDIAC SERVICES INC, founded in 1991, is a major nonprofit that reported $102.9M in total revenue in fiscal year 2023. The organization ran a surplus of $28.8M, a strong 28% operating margin.

Mission

ROOTED IN THE LOVING MINISTRY OF JESUS AS HEALER, WE COMMIT OURSELVES TO SERVING ALL PERSONS WITH SPECIAL ATTENTION TO THOSE WHO ARE POOR AND VULNERABLE. OUR CATHOLIC HEALTH MINISTRY IS DEDICATED TO SPIRITUALLY-CENTERED, HOLISTIC CARE WHICH SUSTAINS AND IMPROVES THE HEALTH OF INDIVIDUALS AND COMMUNITIES. WE ARE ADVOCATES FOR A COMPASSIONATE AND JUST SOCIETY THROUGH OUR ACTIONS AND OUR WORDS.

Program Service Accomplishments

Program 1

Expenses: $51,477,136 Revenue: $89,729,657

THE FILING ORGANIZATION IS A PART OF THE ASCENSION CATHOLIC HEALTH MINISTRY. ASCENSION IS A FAITH-BASED HEALTHCARE ORGANIZATION THAT DELIVERS PERSONALIZED, COMPASSIONATE CARE TO ALL, ESPECIALLY TO...

THE FILING ORGANIZATION IS A PART OF THE ASCENSION CATHOLIC HEALTH MINISTRY. ASCENSION IS A FAITH-BASED HEALTHCARE ORGANIZATION THAT DELIVERS PERSONALIZED, COMPASSIONATE CARE TO ALL, ESPECIALLY TO THOSE WHO NEED IT THE MOST. Central Indiana Health System Cardiac Services, Inc. owns a 69.74% interest in St. Vincent Heart Center of Indiana, LLC. St. Vincent Heart Center of Indiana, LLC. is a 80-bed hospital campus providing services without regard to patient race, creed, national origin, economic status, or ability to pay. During fiscal year 2024, Central Indiana Health System Cardiac Services, Inc. treated 4,275 adults and children for a total of 21,823 patient days of service. The hospital also provided services for 14,830 outpatient visits, which included 38 outpatient surgeries and 3,340 Emergency Room Visits. See Schedule H for a non-exhaustive list of community benefit programs and descriptions.

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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 $328,072

Program Service Revenue $87,760,085

Investment Income $12,122,369

Other Revenue $2,722,049

TOTAL REVENUE $102,932,575

Expense Breakdown

Grants Paid $0

Salaries & Benefits $39,774,823

Fundraising Expenses $0

Program Expenses $51,477,136

Other Expenses $34,358,478

TOTAL EXPENSES $74,133,301

Year-over-Year Comparison

	2023	2022	Change
Revenue	$102,932,575	$102,734,796	+0.0%
Expenses	$74,133,301	$66,078,765	+0.1%
Net Income	$28,799,274	$36,656,031	-0.2%

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

N/A

Employees

523

Volunteers

N/A

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

$1,876,852

Total Directors

$2,810,839

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN SPEER JD	CHAIR	0.0	Officer Director	$0	$48,754	$1,066,268
PARVEEN CHAND	DIRECTOR	0.0	Director	$0	$51,202	$770,299
STEPHAN C MASONCUP	DIRECTOR	0.0	Director	$0	$58,962	$974,272
BETHANY LYNN MORROW	VP, FINANCE	0.0	Officer	$0	$37,396	$431,210
LORI L SHANNON RN	PRESIDENT	50.0	Officer	$340,355	$39,019	$379,374
ALEX W LEE	DIRECTOR OF PHARMACY	50.0	Highest	$178,252	$42,702	$220,954
JANE A OULA RN	REGISTERED NURSE	50.0	Highest	$191,932	$20,232	$212,164
JOSEPH B LANDIS	SUPERVISOR, RADIOLOGY	50.0	Highest	$260,232	$35,729	$295,961
JUDY NORTHERN RN	VP, PATIENT CARE	50.0	Highest	$243,611	$36,624	$280,235
KELLY N VEREL	DIRECTOR OF RESEARCH	50.0	Highest	$207,964	$31,008	$238,972
BECKY L JACOBSON	FORMER OFFICER (END 1/2019)	0.0		$0	$41,042	$399,163
JONATHAN SAMUEL NALLI FACHE	FORMER BOARD OFFICER (END 4/2023)	0.0		$0	$28,253	$2,344,273

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	$102,932,575	$74,133,301	$732,904,224	$28,799,274
2023	$102,734,796	$66,078,765	$694,714,977	$36,656,031
2022	$126,159,422	$60,588,576	$669,432,640	$65,570,846
2021	$148,340,814	$50,460,950	$662,903,932	$97,879,864
2020	$88,817,004	$43,472,214	$565,063,239	$45,344,790
2019	$95,909,229	$42,095,007	$463,153,177	$53,814,222
2018	$91,751,916	$41,393,101	$415,371,105	$50,358,815

CENTRAL INDIANA HEALTH SYSTEM CARDIAC SERVICES INC