HILLSBORO AREA HOSPITAL INC

EIN: 370661208 501(c)(3) Health Care

HILLSBORO, IL

Total Revenue
$41,785,078
Total Expenses
$36,347,315
Total Assets
$63,095,164
Net Assets
$53,817,531
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Financial Trends

Organization Details

Formation Year
1906
Legal Domicile
IL
Principal Officer
MICHAEL ALEXANDER
Phone
2175326111
Tax Period
2023-07-01 to 2024-06-30

HILLSBORO AREA HOSPITAL INC, founded in 1906, is a mid-sized nonprofit in the Health Care sector that reported $41.8M in total revenue in fiscal year 2023. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $36.3M left a modest 13% surplus.

Mission

TO POSITIVELY AFFECT THE HEALTH AND WELFARE OF THE COMMUNITIES WE SERVE THROUGH THE OPERATION OF A HOSPITAL (INPATIENT, SWING BED AND OUTPATIENT) AND AN ASSISTED LIVING FACILITY.

Program Service Accomplishments

Program 1
Expenses: $28,722,590 Revenue: $39,572,947

OPERATION OF A 25-BED CRITICAL ACCESS HOSPITAL (INPATIENT, SWING BED AND OUTPATIENT) WITH AN ASSISTED LIVING FACILITY. 816 ACUTE DAYS, 554 SWING BED DAYS, 20,001 OUTPATIENT VISITS AND 12,607 ASSISTED...

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OPERATION OF A 25-BED CRITICAL ACCESS HOSPITAL (INPATIENT, SWING BED AND OUTPATIENT) WITH AN ASSISTED LIVING FACILITY. 816 ACUTE DAYS, 554 SWING BED DAYS, 20,001 OUTPATIENT VISITS AND 12,607 ASSISTED LIVING RESIDENT DAYS PROVIDED IN FY 2024. HILLSBORO AREA HOSPITAL ALSO PROVIDED $522,415 IN CHARITY CARE AND $2,202,322 IN OTHER COMMUNITY BENEFITS AT COST, NOT INCLUDING BAD DEBT.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $208,540
Program Service Revenue $39,572,947
Investment Income $1,846,737
Other Revenue $156,854
TOTAL REVENUE $41,785,078

Expense Breakdown

Grants Paid $7,520
Salaries & Benefits $15,975,103
Fundraising Expenses $0
Program Expenses $28,722,590
Other Expenses $20,364,692
TOTAL EXPENSES $36,347,315

Year-over-Year Comparison

2023 2022 Change
Revenue $41,785,078 $34,924,187 +0.2%
Expenses $36,347,315 $33,260,651 +0.1%
Net Income $5,437,763 $1,663,536 +2.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
325
Volunteers
62

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
8
$291,041
Total Directors
14
$291,041
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TERRI CARROLL CHIEF FINANCIAL OFFICER (THRU 02/24) 40.00
Officer Director
$214,707 $43,398 $258,105
ALEX NAZARIAN CHIEF FINANCIAL OFFICER (BEG 04/24) 40.00
Officer Director
$32,936 $0 $32,936
MIKE ALEXANDER PRESIDENT & CEO 40.00
Officer Director
$0 $0 $0
EARL FLACK CHAIRMAN 1.00
Officer Director
$0 $0 $0
LISA WHITE VICE CHAIR 1.00
Officer Director
$0 $0 $0
MISTY BORROWMAN TREASURER 1.00
Officer Director
$0 $0 $0
JULIE JENKINS SECRETARY 1.00
Officer Director
$0 $0 $0
DR JOSEPH BLASER DIRECTOR 1.00
Officer Director
$0 $0 $0
DR BEN CADY DIRECTOR 1.00
Director
$0 $0 $0
MARY HERSCHELMAN DIRECTOR 1.00
Director
$0 $0 $0
JAMES HERTEL DIRECTOR 1.00
Director
$0 $0 $0
DAVID HOUGH DIRECTOR 1.00
Director
$0 $0 $0
DR NATHAN KIRBY DIRECTOR 1.00
Director
$0 $0 $0
JORDAN RUPPERT DIRECTOR 1.00
Director
$0 $0 $0
ANDREW OTT PODIATRIST 40.00
Highest
$259,552 $21,658 $281,210
ABBY BUGG TEAMWORK REHAB DIRECTOR 40.00
Highest
$133,529 $58,014 $191,543
BARBARA SMITH NURSE COORDINATOR 40.00
Highest
$125,855 $21,924 $147,779
THERESA RAPP DIRECTOR OF SURGICAL SERVI 40.00
Highest
$125,195 $3,756 $128,951
MARTA EDWARDS REGISTERED NURSE 5.00
Highest
$112,980 $46,980 $159,960
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 $41,785,078 $36,347,315 $63,095,164 $5,437,763
2023 $34,924,187 $33,260,651 $56,090,682 $1,663,536
2022 $35,050,483 $31,170,413 $57,293,181 $3,880,070
2021 $35,034,595 $29,505,523 $55,765,297 $5,529,072
2020 $31,431,186 $25,468,887 $53,665,107 $5,962,299
2019 $26,485,917 $23,937,673 $41,262,184 $2,548,244
2018 $25,035,012 $22,144,463 $39,631,406 $2,890,549
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