Carthage, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Memorial Hospital Association, founded in 1947, is a mid-sized nonprofit in the Health Care sector that reported $54.5M in total revenue in fiscal year 2024.
Memorial Hospital is committed to improving health by providing education and wellness programs and innovative services at all the stages of life.
Memorial Hospital is dedicated to maintaining and improving the health of all people in the Hancock County area. Governed by a Board of Directors, we serve as a vital safety net, serving our...
Memorial Hospital is dedicated to maintaining and improving the health of all people in the Hancock County area. Governed by a Board of Directors, we serve as a vital safety net, serving our communities with access to quality healthcare services. Memorial Hospital provides many types of community benefit care. Community benefit care includes charity care, community health fairs, lectures, and free health screenings, demonstrating our commitment to improving the overall health of the residents of the Hancock County area.In 2024 the Hospital had 2,499 patient days with 524 admissions and 526 discharges. (Continued on Schedule O)There were 6,038 emergency room visits, 1,444 provider-based physician clinic visits, 12,288 independent physician visits and 45,773 rural health physician clinic visits.We are always committed to providing compassionate care to every member of our community regardless of their ability to pay.To fulfill its mission of community service, the Organization provides care to patients and residents who meet certain criteria under its charity care policy without charge or at amounts less than its established rates. Revenue from services to these patients and residents is recorded in the accounting system at the established rates, but the Organization does not pursue collection of the amounts. The resulting adjustments are recorded as adjustments to patient and resident service revenue, depending on the timing of the charity determination.The Illinois legislature passed a bill titled the "Hospital Uninsured Patient Discount Act." Effective April 1, 2009, this Act requires hospitals to provide certain mandated discounts from charges to the uninsured in Illinois. Charges are to be discounted at 135% of cost. Furthermore, a hospital may not collect more than 25% of an uninsured family's gross income in any one year.The Organization provides health care services to patients and residents who meet certain criteria under its charity care policy without charge or at amounts less than established rates. Since the Organization does not pursue collection of these amounts, they are not reported as patient and resident service revenue. The estimated cost of providing these services was $711,000 for the year ended December 31, 2024, calculated by multiplying the ratio of cost to gross charges for the Organization by the gross uncompensated charges associated with providing charity care to its patients and residents.In addition, the Organization provides services to other medically indigent patients under certain government-reimbursed public aid programs. Such programs pay providers amounts which are less than established charges for the services provided to the recipients, and for some services the payments are less than the cost of rendering the services provided. The Organization also commits significant time and resources to endeavors and critical services which meet otherwise unfulfilled community needs. Many of these activities are sponsored with the knowledge that they will not be self-supporting or financially viable.
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)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $54,499,965 | $50,471,561 | +0.1% |
| Expenses | $54,334,029 | $48,099,140 | +0.1% |
| Net Income | $165,936 | $2,372,421 | -0.9% |
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 |
|---|---|---|---|---|---|---|
| Dan Asbury-PresidentUntil | Sept 24)/Director (As of Sept 24) | 3.00 |
Officer
Director
|
$0 | $0 | $0 |
| Doug Groth-DirectorUntil | Sept 24)/President (As of Sept 24) | 3.00 |
Officer
Director
|
$0 | $0 | $0 |
| LuAnn Haas- VP Until Sept | 24)/Director (As of Sept 24) | 3.00 |
Officer
Director
|
$0 | $0 | $0 |
| Brenda Young-DirectorUntil | Sept 24)/VP (As of Sept 24) | 3.00 |
Officer
Director
|
$0 | $0 | $0 |
| Dennis Rankin | Secretary/Treasurer | 3.00 |
Officer
Director
|
$0 | $0 | $0 |
| Robert Barlow | Director (Until Sept 24) | 3.00 |
Director
|
$0 | $0 | $0 |
| Charles Gilbert | Director | 3.00 |
Director
|
$0 | $0 | $0 |
| Larry McClintock | Director | 3.00 |
Director
|
$0 | $0 | $0 |
| Katie Pearson | Director (Until Sept 24) | 3.00 |
Director
|
$0 | $0 | $0 |
| Terry Pope | Director | 3.00 |
Director
|
$0 | $0 | $0 |
| Victoria Kalivoda-Popela DO | Director | 40.00 |
Director
|
$520,774 | $32,009 | $552,783 |
| Debbie Simon | Director (Until Sept 24) | 3.00 |
Director
|
$0 | $0 | $0 |
| Dr Jean Alexandre | Director (Until Sept 24) | 3.00 |
Director
|
$0 | $0 | $0 |
| Noah Dearwester | Director | 3.00 |
Director
|
$0 | $0 | $0 |
| Jami Hocker | Director | 3.00 |
Director
|
$0 | $0 | $0 |
| Karen Araya | Director (As of Sept 24) | 3.00 |
Director
|
$0 | $0 | $0 |
| Pat Schou | Director (As of Sept 24) | 3.00 |
Director
|
$0 | $0 | $0 |
| James Van den Bogaerde MD | Director (As of Sept 24) | 3.00 |
Director
|
$0 | $0 | $0 |
| Ada Bair | CEO | 40.00 |
Officer
|
$286,981 | $30,863 | $317,844 |
| Teresa Smith | CFO | 40.00 |
Officer
|
$188,350 | $45,820 | $234,170 |
| Peter Perll MD | Surgeon | 40.00 |
Highest
|
$572,849 | $57,245 | $630,094 |
| Drake White MD | Surgeon | 40.00 |
Highest
|
$520,209 | $53,813 | $574,022 |
| Christopher Jones MD | OB/GYN | 40.00 |
Highest
|
$404,621 | $47,619 | $452,240 |
| Gina Bell MD | OB/GYN | 40.00 |
Highest
|
$359,764 | $47,619 | $407,383 |
| Nileshwa Senthe MD | Pediatrician | 40.00 |
Highest
|
$359,446 | $57,245 | $416,691 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $54,499,965 | $54,334,029 | $49,504,003 | $165,936 |
| 2023 | $50,471,561 | $48,099,140 | $50,796,946 | $2,372,421 |
| 2022 | $46,345,159 | $44,022,472 | $47,754,183 | $2,322,687 |
| 2021 | $48,835,802 | $38,192,631 | $49,952,153 | $10,643,171 |
| 2020 | $33,306,049 | $32,046,263 | $44,299,401 | $1,259,786 |
| 2019 | $30,188,415 | $30,518,930 | $35,871,886 | $-330,515 |
| 2018 | $29,260,463 | $29,619,804 | $39,041,958 | $-359,341 |
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