FREEPORT, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)FREEPORT MEMORIAL HOSPITAL, founded in 1964, is a major nonprofit in the Health Care sector that reported $175.4M in total revenue in fiscal year 2023. Expenses of $154.1M left a modest 12% surplus.
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FREEPORT MEMORIAL HOSPITAL PROVIDES INPATIENT AND OUTPATIENT HOSPITAL SERVICES TO PATIENTS IN FIVE NORTHWESTERN ILLINOIS COUNTIES. THE HOSPITAL ENSURES CONTINIUED ACCESS TO CARE BY SERVING PATIENTS...
FREEPORT MEMORIAL HOSPITAL PROVIDES INPATIENT AND OUTPATIENT HOSPITAL SERVICES TO PATIENTS IN FIVE NORTHWESTERN ILLINOIS COUNTIES. THE HOSPITAL ENSURES CONTINIUED ACCESS TO CARE BY SERVING PATIENTS IN MEDICALLY UNDERSERVED AREAS. THE HOSPITAL QUALIFIES AS A MEDICARE DISPROPORTIONATE SHARE HOSPITAL BECAUSE IT SERVES A DISPROPORTIONATELY HIGH NUMBER OF LOW-INCOME PATIENTS.
OTHER UNCOMPENSATED CARE: THE HOSPITAL IS A LICENSED MEDICARE AND MEDICAID PROVIDER WITH APPROXIMATELLY 72% OF ITS' PATIENT BASE QUALIFYING FOR AT LEAST ONE OF THESE PROGRAMS. AT PRESENT THE...
OTHER UNCOMPENSATED CARE: THE HOSPITAL IS A LICENSED MEDICARE AND MEDICAID PROVIDER WITH APPROXIMATELLY 72% OF ITS' PATIENT BASE QUALIFYING FOR AT LEAST ONE OF THESE PROGRAMS. AT PRESENT THE REIMBURSEMENT RATES OF THESE PROGRAMS DO NOT FULLY COVER THE COST OF CARE TO THESE PATIENTS. THE ESTIMATED UNFUNDED COST OF SERVICE FOR MEDICARE PATIENTS WAS APPROXIMATELY $11,790,315 AND MEDICAID PATIENTS WAS APPROXIMATELY $9,732,303 FOR THE YEAR ENDING 12/31/2023.
CHARITY CARE: THE HOSPITAL PROVIDED CHARITY CARE BENEFITS FOR PATIENTS WHOSE INCOME WAS UP TO 300% OF THE FEDERALLY DETERMINED PROVERTY LEVEL. CHARGES FOREGONE FOR CHARITY CARE AMOUNTED TO...
CHARITY CARE: THE HOSPITAL PROVIDED CHARITY CARE BENEFITS FOR PATIENTS WHOSE INCOME WAS UP TO 300% OF THE FEDERALLY DETERMINED PROVERTY LEVEL. CHARGES FOREGONE FOR CHARITY CARE AMOUNTED TO APPROXIMATELY $1,737,908 IN 2023. ESTIMATED COSTS OF PROVIDING THESE SERVICES AMOUNTED TO APPROXIMATELY $373,027 IN 2023.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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 |
| 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 |
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