FREEPORT MEMORIAL HOSPITAL (EIN 362181997) - Form 990 Financial Analysis & Trantor Score

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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

1964

Legal Domicile

Principal Officer

MARK S GRIDLEY

Phone

8155996209

Tax Period

2023-01-01 to 2023-12-31

FREEPORT MEMORIAL HOSPITAL, founded in 1964, is a major nonprofit in the Health Care sector that reported $155.8M in total revenue in fiscal year 2018. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $27.2M, a strong 17% operating margin.

Mission

OUR MISSION IS TO IMPROVE THE HEALTH OF OUR COMMUNITIES, WORKING TOGETHER WITH THOSE WE SERVE.

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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 $1,169,171

Program Service Revenue $173,534,554

Investment Income $646,522

Other Revenue $0

TOTAL REVENUE $175,350,247

Expense Breakdown

Grants Paid $0

Salaries & Benefits $55,391,773

Fundraising Expenses $0

Program Expenses $149,413,637

Other Expenses $98,731,246

TOTAL EXPENSES $154,123,019

Year-over-Year Comparison

	2023	2022	Change
Revenue	$175,350,247	$168,885,534	+0.0%
Expenses	$154,123,019	$152,350,876	+0.0%
Net Income	$21,227,228	$16,534,658	+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

1355

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

$1,489,092

Total Directors

$300,371

Key Employees

$1,847,712

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NEAL RICHARDSON	CHAIRMAN	0.50	Director	$0	$0	$0
HEATHER MCPHERSON	VICE CHAIRMAN	0.50	Director	$0	$0	$0
MARK WRIGHT	TREASURER	0.50	Director	$0	$0	$0
RICH CHANG	SECRETARY	0.50	Director	$0	$0	$0
GARY QUINN	BOARD MEMBER	0.50	Director	$0	$0	$0
SHOKRY TAWFIK MD	BOARD MEMBER	0.50	Director	$0	$0	$0
BRUCE BALDWIN	BOARD MEMBER	0.50	Director	$0	$0	$0
GLENDA KOELLER	BOARD MEMBER	0.50	Director	$0	$0	$0
DAN SCHMITT	BOARD MEMBER	0.50	Director	$0	$0	$0
AMY BAKER	BOARD MEMBER	0.50	Director	$0	$0	$0
MARK S GRIDLEY	PRESIDENT/CEO	25.00	Officer	$455,110	$64,203	$798,252
MICHAEL C CLARK	EXECUTIVE VP/CFO	25.00	Officer	$218,321	$60,154	$412,285
LEONARD CARTER	CHIEF HUMAN RESOURCES OFFICER	25.00	Officer	$148,628	$38,838	$278,555
BETH KALNINS MD	MEDICAL STAFF	40.00	Director	$272,722	$27,649	$300,371
REBECCA PEDERSEN MD	CHIEF QUALITY OFFICER	1.00	Key Emp	$0	$36,663	$431,174
ROBERT GELLER MD	HEAD OF INFECTIOUS DISEASES	1.00	Key Emp	$0	$27,962	$252,404
TIMOTHY JESSEN MD	CHAIR PHYSICIAN COUNCIL	0.50	Key Emp	$0	$38,969	$336,449
CLARENCE PARKS MD	PRESIDENT MEDICAL STAFF	40.00	Key Emp	$509,041	$20,230	$529,271
KATHRYN J MARTINEZ	VP OF PATIENT SERVICE	40.00	Key Emp	$263,293	$35,121	$298,414
ARSHAD SHAIKH MD	PHYSICIAN	40.00	Highest	$696,233	$31,828	$728,061
ZACHARY FULTON	PHYSICIAN	40.00	Highest	$284,529	$57,368	$341,897
DANIEL LEE MD	PHYSICIAN	40.00	Highest	$278,250	$44,331	$322,581
IRENA MARKOVIC MD	PHYSICIAN	40.00	Highest	$343,054	$30,986	$374,040
KARENMARIE MEYER MD	PHYSICIAN	40.00	Highest	$360,890	$14,936	$375,826

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	$175,350,247	$154,123,019	$101,724,533	$21,227,228
2022	$168,885,534	$152,350,876	$106,715,723	$16,534,658
2021	$169,840,576	$138,980,643	$127,271,445	$30,859,933
2020	$163,062,274	$130,297,402	$124,710,345	$32,764,872
2019	$157,673,978	$133,086,703	$100,084,813	$24,587,275
2018	$155,803,811	$128,619,991	$99,601,603	$27,183,820

FREEPORT MEMORIAL HOSPITAL