FREEPORT REGIONAL HEALTH CARE FOUNDATION (EIN 363290904) - 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

1984

Legal Domicile

Principal Officer

MARK S GRIDLEY CEO

Phone

8155996209

Tax Period

2023-01-01 to 2023-12-31

FREEPORT REGIONAL HEALTH CARE FOUNDATION, founded in 1984, is a mid-sized nonprofit in the Health Care sector that reported $44.1M in total revenue in fiscal year 2023. Expenses of $69.2M exceeded revenue, resulting in a 57% operating deficit.

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 $93,865

Program Service Revenue $43,797,247

Investment Income $8,948

Other Revenue $231,713

TOTAL REVENUE $44,131,773

Expense Breakdown

Grants Paid $0

Salaries & Benefits $40,087,134

Fundraising Expenses $281,968

Program Expenses $46,186,550

Other Expenses $29,129,202

TOTAL EXPENSES $69,216,336

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,131,773	$42,848,160	+0.0%
Expenses	$69,216,336	$69,460,061	0.0%
Net Income	$-25,084,563	$-26,611,901	-0.1%

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

N/A

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

$1,489,082

Total Directors

$300,371

Key Employees

$1,847,711

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	50.00	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	14.00	Officer	$271,598	$64,203	$798,252
MICHAEL CLARK	EXECUTIVE VP & CFO	14.00	Officer	$130,289	$60,154	$412,285
LEONARD M CARTER	VP - HUMAN RESOURCES	14.00	Officer	$88,692	$38,838	$278,545
REBECCA PEDERSEN MD	CHIEF QUALITY CONTROL	40.00	Key Emp	$394,510	$36,663	$431,173
TIMOTHY JESSEN MD	CHAIR PHYSICIAN COUNCIL	40.00	Key Emp	$297,480	$38,969	$336,449
BETH KALNINS MD	EMPLOYED PHYSICIAN	40.00	Director	$0	$27,649	$300,371
CLARENCE PARKS MD	PRESIDENT OF MEDICAL STAFF	0.00	Key Emp	$0	$20,230	$529,271
ROBERT GELLER MD	HEAD OF INFECTIOUS DISEASE	40.00	Key Emp	$224,442	$27,962	$252,404
KATHRYN MARTINEZ	CNO/COO	0.00	Key Emp	$0	$35,121	$298,414
DAMMANN GREGORY	PHYSICIAN	40.00	Highest	$984,283	$37,866	$1,022,149
BARNES BARRY	PHYSICIAN	40.00	Highest	$726,270	$32,092	$758,362
MADHUSUDAN R MALLADI MD	PHYSICIAN	40.00	Highest	$704,172	$57,413	$761,585
KILARU PRASAD	PHYSICIAN	40.00	Highest	$689,655	$20,562	$710,217
KHAN FARHAN	PHYSICIAN	40.00	Highest	$511,688	$1,578	$513,266

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
2023	$44,131,773	$69,216,336	$42,191,160	$-25,084,563
2022	$42,848,160	$69,460,061	$41,202,979	$-26,611,901
2021	$45,400,897	$69,950,565	$44,647,544	$-24,549,668
2020	$41,530,197	$65,048,196	$44,158,955	$-23,517,999

FREEPORT REGIONAL HEALTH CARE FOUNDATION