DICKINSON COUNTY HEALTHCARE SYSTEM

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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

1990

Legal Domicile

Principal Officer

BRIAN HOERNEMAN MD

Phone

7153875511

Tax Period

2023-01-01 to 2023-12-31

DICKINSON COUNTY HEALTHCARE SYSTEM, founded in 1990, is a major nonprofit in the Health Care sector that reported $142.1M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

WE ENRICH LIVES TO CREATE HEALTHY COMMUNITIES THROUGH ACCESSIBLE, AFFORDABLE, COMPASSIONATE HEALTH CARE.

Program Service Accomplishments

Program 1

Expenses: $135,088,795 Revenue: $141,140,058

DICKINSON COUNTY HEALTHCARE SYSTEM (DCHS) INCLUDES A 49-BED, GENERAL MEDICAL AND SURGICAL HOSPITAL LOCATED IN IRON MOUNTAIN, MICHIGAN AND PRIMARY CARE CLINICS IN IRON MOUNTAIN, KINGSFORD AND NORWAY, MICHIGAN AND FLORENCE, WISCONSIN. DCHS SERVES COMMUNITIES IN MICHIGAN'S CENTRAL UPPER PENINSULA AND NORTHERN WISCONSIN BY PROVIDING A BROAD RANGE OF HIGH QUALITY ACUTE CARE INCLUDING INPATIENT, OUTPATIENT, DIAGNOSTIC, AND SPECIALTY SERVICES.

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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 $335,795

Program Service Revenue $141,398,231

Investment Income $115,964

Other Revenue $222,749

TOTAL REVENUE $142,072,739

Expense Breakdown

Grants Paid $0

Salaries & Benefits $67,873,453

Fundraising Expenses $0

Program Expenses $135,088,795

Other Expenses $74,380,215

TOTAL EXPENSES $142,253,668

Year-over-Year Comparison

	2023	2022	Change
Revenue	$142,072,739	$127,196,395	+0.1%
Expenses	$142,253,668	$122,645,520	+0.2%
Net Income	$-180,929	$4,550,875	-1.0%

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

768

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

$1,305,234

Total Directors

$7,034,703

Key Employees

$338,624

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK BUGHER	CHAIR - PART YEAR	1.00	Officer Director	$0	$0	$24,924
COLLEEN HOERNEMAN	CHAIR	1.00	Officer Director	$0	$0	$6,500
MARK BRADLEY	VICE CHAIR	1.00	Officer Director	$0	$0	$13,000
RUWAN DISSANAYAKE MD	SECRETARY - PART YEAR	1.00	Officer Director	$0	$24,157	$395,013
JOHN BALTUS	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
SUSAN TURNEY MD	BOARD MEMBER/MCHS CEO - PART YEAR	1.00	Director	$0	$382,007	$3,507,040
BRIAN HOERNEMAN MD	BOARD MEMBER/INTERIM MCHS CEO	1.00	Director	$0	$40,127	$888,868
WILLIAM MELMS MD	BOARD MEMBER/MCHS CMO - PART YEAR	1.00	Director	$0	$21,091	$1,074,914
SAMANTHA KLEBE DO	BOARD MEMBER/MCHS CMO	1.00	Director	$0	$29,993	$545,008
DOUG MATHISON	BOARD MEMBER	1.00	Director	$0	$0	$0
EDWARD FERNANDEZ MD	BOARD MEMBER	1.00	Director	$0	$43,230	$579,436
MARGARET MINERICK	BOARD MEMBER - PART YEAR	1.00	Director	$0	$0	$0
DAVID HOLMES	BOARD MEMBER	1.00	Director	$0	$0	$0
CATHY BUKOWSKI	MCHS CFO - PART YEAR	1.00	Officer	$0	$23,393	$749,233
JEANETTE WOJTALEWICZ	INTERIM MCHS CFO	1.00	Officer	$0	$0	$116,564
AMANDA SHELAST	PRESIDENT MMC-DICKINSON	50.00	Key Emp	$331,019	$7,605	$338,624
ERIN DEPREKEL MD	PHYSICIAN	50.00	Highest	$252,656	$1,325	$253,981
BRIAN DONAHUE	VP OF FINANCE/CFO MMC-DICKINSON	50.00	Highest	$270,832	$7,541	$278,373
MARYAM HAMIDI MD	PHYSICIAN	50.00	Highest	$280,086	$1,018	$281,104
ERIC JOHNSON MD	PHYSICIAN	50.00	Highest	$419,197	$17,603	$436,800
DAVID VIAU MD	PHYSICIAN	50.00	Highest	$352,049	$4,451	$356,500

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	No data	No data	No data	No data
2023	$142,072,739	$142,253,668	$64,236,890	$-180,929
2022	$127,196,395	$122,645,520	$80,915,306	$4,550,875