Grand Island Regional Medical Cent… - 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

2017

Legal Domicile

Phone

4024818966

Tax Period

2023-01-01 to 2023-12-31

Grand Island Regional Medical Center Inc, founded in 2017, is a mid-sized nonprofit in the Health Care sector that reported $67.8M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $82.9M exceeded revenue, resulting in a 22% operating deficit.

Mission

GRAND ISLAND REGIONAL MEDICAL CENTER ("GIRMC") IS DEDICATED TO IMPROVING HEALTH THROUGH THE EMPOWERMENT OF THE COMMUNITY AND OUR HEALTHCARE TEAM.

Program Service Accomplishments

Program 1

Expenses: $67,919,719 Revenue: $64,280,647

GRAND ISLAND REGIONAL MEDICAL CENTER BECAME MEDICARE CERTIFIED ON AUGUST 1, 2020 ALLOWING THE HOSPITAL TO BEGIN ACCEPTING PATIENTS. THE EMERGENCY DEPARTMENT BEGAN SEEING PATIENTS AS OF NOVEMBER 2...

GRAND ISLAND REGIONAL MEDICAL CENTER BECAME MEDICARE CERTIFIED ON AUGUST 1, 2020 ALLOWING THE HOSPITAL TO BEGIN ACCEPTING PATIENTS. THE EMERGENCY DEPARTMENT BEGAN SEEING PATIENTS AS OF NOVEMBER 2, 2020, AND THE FIRST SURGICAL CASE WAS PERFORMED IN THE SUMMER OF 2020. GRAND ISLAND REGIONAL MEDICAL CENTER IS PART OF BRYAN HEALTH, ONE OF THE LARGEST NON-PROFIT HEALTH CARE ORGANIZATIONS IN THE REGION AND IS COMMITTED TO PROVIDING HEALTH CARE SERVICES FOR THOSE IN NEED REGARDLESS OF THEIR ABILITY TO PAY. IN 2023, GRAND ISLAND REGIONAL MEDICAL CENTER PROVIDED HEALTHCARE SERVICES TO THE GENERAL PUBLIC AND OPERATED ROUTINE SERVICE BEDS, ICU BEDS TOTALING OVER 8,285 PATIENT DAYS, 13,025 OUTPATIENT VISITS INCLUDING EMERGENCY ROOM VISITS OF 10,132 AND 440 DELIVERIES. THE HOSPITAL PROVIDED CHARITY CARE TO 574 PATIENTS IN THE AMOUNT OF $4,313,913.

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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 $2,732,990

Program Service Revenue $64,280,647

Investment Income $-42,220

Other Revenue $839,080

TOTAL REVENUE $67,810,497

Expense Breakdown

Grants Paid $0

Salaries & Benefits $32,572,958

Fundraising Expenses $0

Program Expenses $67,919,719

Other Expenses $50,351,048

TOTAL EXPENSES $82,924,006

Year-over-Year Comparison

	2023	2022	Change
Revenue	$67,810,497	$54,330,898	+0.2%
Expenses	$82,924,006	$75,007,534	+0.1%
Net Income	$-15,113,509	$-20,676,636	-0.3%

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

475

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

$2,338,106

Total Directors

$4,168,029

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	VICE CHAIRPERSON	1.0	Officer Director	$0	$0	$0
N/A	CHAIRPERSON	1.0	Officer Director	$0	$44,823	$1,602,919
N/A	SECRETARY-TREASURER	2.0	Officer Director	$0	$18,858	$393,337
N/A	PHYSICIAN	5.0	Director	$0	$51,559	$983,219
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	2.0	Director	$0	$41,681	$1,188,554
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	President/CEO Grand Island Regional Medical Center (Start 9/16/2023)	50.0	Officer	$189,447	$5,416	$229,862
N/A	CFO/GRAND ISLAND REGIONAL MEDICAL CENTER (EFFECTIVE 7/17/2023)	50.0	Officer	$93,165	$18,823	$111,988
N/A	PHYSICIAN	50.0	Highest	$735,791	$40,462	$776,253
N/A	PHYSICIAN	50.0	Highest	$533,706	$16,713	$550,419
N/A	PHYSICIAN	50.0	Highest	$485,292	$29,310	$514,602
N/A	PHYSICIAN	50.0	Highest	$530,017	$27,585	$557,602
N/A	PHYSICIAN	50.0	Highest	$518,141	$15,034	$533,175
N/A	President/CEO Grand Island Regional Medical Center (VACATED 9/15/2023)	50.0		$445,954	$41,201	$538,158

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	$67,810,497	$82,924,006	$62,612,794	$-15,113,509
2022	$54,330,898	$75,007,534	$104,091,864	$-20,676,636
2021	$40,825,910	$57,792,530	$105,787,558	$-16,966,620
2020	$4,862,034	$20,828,100	$100,033,632	$-15,966,066

Grand Island Regional Medical Center Inc