MEMORIAL HEALTH SYSTEM (EIN 371110690) - 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

1981

Legal Domicile

Principal Officer

KATHRYN J KEIM

Phone

2177883198

Tax Period

2023-10-01 to 2024-09-30

MEMORIAL HEALTH SYSTEM, founded in 1981, is a major nonprofit in the Health Care sector that reported $226.8M in total revenue in fiscal year 2023. Revenue surged 39% from the prior year, signaling strong growth momentum.

Mission

TO IMPROVE LIVES AND BUILD STRONGER COMMUNITIES THROUGH BETTER HEALTH.

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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 $0

Program Service Revenue $214,553,525

Investment Income $4,757,330

Other Revenue $7,443,790

TOTAL REVENUE $226,754,645

Expense Breakdown

Grants Paid $50,709

Salaries & Benefits $48,588,305

Fundraising Expenses $0

Program Expenses $186,236,508

Other Expenses $177,004,559

TOTAL EXPENSES $225,643,573

Year-over-Year Comparison

	2023	2022	Change
Revenue	$226,754,645	$163,297,902	+0.4%
Expenses	$225,643,573	$175,476,634	+0.3%
Net Income	$1,111,072	$-12,178,732	-1.1%

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

10595

Volunteers

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

$2,670,953

Total Directors

$1,884,200

Key Employees

$5,784,067

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDGAR CURTIS EX-OFFICIO	PRESIDENT & CEO	25.00	Officer Director	$1,829,103	$55,097	$1,884,200
CHARLES CALLAHAN PHD	PRS.MHHOSPGROUP(THRUJUN24)	25.00	Key Emp	$0	$153,449	$1,107,086
RAJESH GOVINDAIAH MD	SVP & CPE (THRUJUN24)	25.00	Key Emp	$695,157	$100,376	$795,533
KATHRYN KEIM	SVP & CFO	25.00	Officer	$646,710	$140,043	$786,753
AIMEE DAILY PHD	SVP & CTO(THRUSEP23)	25.00	Key Emp	$609,788	$95,300	$705,088
JAMESON ROSZHART	PRSMHAMGRPTRJN24;PRS&CEOSMH&MBHFRMJL24	25.00	Key Emp	$554,864	$125,137	$680,001
KEVIN ENGLAND	SVP & CAO	25.00	Key Emp	$552,217	$116,854	$669,071
ANNA EVANS JD	SVP & GENERAL COUNSEL	25.00	Key Emp	$512,035	$154,835	$666,870
MARSHA PRATER PHD	SVP & CNO (THRUSEP23)	25.00	Key Emp	$0	$38,900	$653,480
DREW EARLY	PRESIDENT & CEO DMH	0.00	Highest	$482,729	$105,714	$588,443
ELISABETH KLAR	SVP & CHIEF HUMANRESOFF	25.00	Key Emp	$405,962	$100,976	$506,938
AKINDELE ADARAMOLA MD	CHIEF MEDICAL OFFICER SMH	0.00	Highest	$413,884	$87,889	$501,773
J TRAVIS DOWELL	PRESIDENT & CEO MMG (THRU JUN24)	0.00	Highest	$400,643	$97,691	$498,334
DOLAN DALPOAS	PRESIDENT & CEO LMH	0.00	Highest	$388,408	$61,937	$450,345
KIMBERLY BOURNE	PRS&CEOTMH&TMF;BRDMBRMEMHOMECARE	0.00	Highest	$351,342	$89,822	$441,164
ROBERT SCOTT	FORMER SVP & CHIEF HR OFFICER	0.00		$235,700	$0	$235,700
JOHN WADDOCK	BOARD MEMBER	0.70	Director	$0	$0	$0
JOSEPH HURWITZ	BOARD MEMBER	0.70	Director	$0	$0	$0
WILLIAM PUTMAN MD	BOARD MEMBER	0.70	Director	$0	$0	$0
REGINALD BENTON	BOARD MEMBER	0.70	Director	$0	$0	$0
JERRY KRUSE MD MSPH	BOARD MEMBER	0.70	Director	$0	$0	$0
JOHN BLACKBURN	BOARD MEMBER (THRU DEC23)	0.70	Director	$0	$0	$0
RANDALL GERMERAAD	BOARD MEMBER	0.70	Director	$0	$0	$0
AIMEE FYKE	BOARD MEMBER	0.70	Director	$0	$0	$0
JONATHAN LOCKE MD	BOARD MEMBER (THRU DEC23)	0.70	Director	$0	$0	$0
DAVID GRIFFEN MD PHD	BOARD MEMBER (FRM JAN24)	0.70	Director	$0	$0	$0
DIANE RUTLEDGE PHD	BOARD MEMBER	0.70	Director	$0	$0	$0
DEAN ROBERT JR	IMPSTCHRTRDEC23/BRDMRFRMJAN24	1.40	Director	$0	$0	$0
JENNIFER GILL	BOARD MEMBER	0.70	Director	$0	$0	$0
SERGIO PECORI	BOARD MEMBER	0.70	Director	$0	$0	$0
GUSSIE REED	BOARD MEMBER (FRM JAN24)	0.70	Director	$0	$0	$0
ERIC GRAUE	BOARD MEMBER (FRM JAN24)	0.70	Director	$0	$0	$0
BARBARA FARLEY	BRDMBRTHRDEC23/2NDVIRFRMJAN24	1.40	Officer Director	$0	$0	$0
CHERYL MARTIN	2VCHR&TRSDC23/1VCHR&TRSFRMJAN24	1.40	Officer Director	$0	$0	$0
NINA HARRIS	SECRETARY	1.40	Officer Director	$0	$0	$0
MICHAEL AIELLO	1STVCHR(THRDEC23)/CHR(FRMJAN24)	1.40	Officer Director	$0	$0	$0
TODD WISE	CHR(THRDEC23)/IMPSTCHR(FRMJAN24)	1.40	Officer Director	$0	$0	$0

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	$226,754,645	$225,643,573	$619,582,206	$1,111,072
2023	$163,297,902	$175,476,634	$578,584,448	$-12,178,732
2022	$112,809,399	$118,516,061	$556,755,508	$-5,706,662
2021	$82,620,372	$100,180,203	$581,495,247	$-17,559,831
2020	$107,648,625	$89,835,471	$515,238,317	$17,813,154
2019	$77,803,131	$82,066,813	$491,172,846	$-4,263,682
2018	$74,955,241	$70,715,448	$529,554,123	$4,239,793

MEMORIAL HEALTH SYSTEM