HERRICK MEMORIAL HOSPITAL INC

EIN: 383049015 501(c)(3) Health Care

TOLEDO, OH

Total Revenue
N/A
Total Expenses
N/A
Total Assets
$5,820,562
Net Assets
$-11,145,592
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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
1989
Legal Domicile
MI
Principal Officer
LOUIS ROBICHAUX
Phone
4192525772
Tax Period
2021-01-01 to 2021-12-31

Mission

HERRICK MEMORIAL HOSPITAL, INC. IS AN ACUTE CARE CRITICAL ACCESS HOSPITAL THAT PROVIDES HEALTHCARE SERVICES TO ALL INDIVDUALS IN LENAWEE COUNTY.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $0
TOTAL EXPENSES $0

Year-over-Year Comparison

2021 2020 Change
Revenue N/A $19,226,299 -1.0%
Expenses N/A $21,194,724 -1.0%
Net Income N/A $-1,968,425 N/A
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

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Governance

Voting Members
20
Independent Members
15
Employees
N/A
Volunteers
15

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
5
$12,873,504
Total Directors
22
$2,919,169
Key Employees
2
$1,127,624
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARCY L BROWN CHAIRMAN 1.00
Officer Director
$0 $0 $0
JULIE K YAROCH DO PRES., EX OFFICIO 1.00
Officer Director
$0 $29,767 $443,023
DAWN M BUSKEY EX OFFICIO, PRES. ACUTE CARE 1.00
Director
$0 $49,161 $854,660
MICHAEL B ADAMS TRUSTEE 1.00
Director
$0 $0 $0
JOHN C AKENS TRUSTEE 1.00
Director
$0 $0 $0
CHRISTI L ANSBERG TRUSTEE,VP, PHILANTHROPY 1.00
Director
$0 $23,900 $237,020
DARRIN ARQUETTE TRUSTEE, PRES. REGIONAL ACUTE CARE 1.00
Director
$0 $38,136 $519,316
MARCIA J BOYNTON JD TRUSTEE 1.00
Director
$0 $0 $0
VICTOR J CHERFAN DO TRUSTEE (PARTIAL YEAR), PHYSICIAN 1.00
Director
$0 $20,698 $532,222
MARSHA L DAVIS TRUSTEE 1.00
Director
$0 $0 $0
RUSSELL L DEMPSEY TRUSTEE 1.00
Director
$0 $0 $0
FRANK DICK TRUSTEE 1.00
Director
$0 $0 $0
EDWARD J ENGLE TRUSTEE (PARTIAL YEAR) 1.00
Director
$0 $0 $0
GRACE M GARNO TRUSTEE 1.00
Director
$0 $0 $0
PAUL E GIETZEN MD TRUSTEE, PHYSICIAN 1.00
Director
$0 $21,753 $332,928
ELIZABETH A KENNEDY TRUSTEE 1.00
Director
$0 $0 $0
RICK K KNIERIM TRUSTEE 1.00
Director
$0 $0 $0
GARY E MCDOWELL TRUSTEE 1.00
Director
$0 $0 $0
DENNIS M SMOKE TRUSTEE 1.00
Director
$0 $0 $0
AARON D SWIGGUM TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL J UCKELE TRUSTEE 1.00
Director
$0 $0 $0
PAULA K HOLTZ VICE CHAIRMAN 1.00
Director
$0 $0 $0
RANDALL OOSTRA PHS PRES. & CEO 1.00
Officer
$0 $300,344 $7,456,116
JEFFREY C KUHN SECRETARY, CHIEF LEGAL OFFICER 1.00
Officer
$0 $68,186 $1,415,801
STEVEN M CAVANAUGH TREASURER, CFO 1.00
Officer
$0 $60,660 $3,558,564
DEANA SIEVERT SR VP, PAT CARE/CNO, SYSTEM 1.00
Key Emp
$0 $33,176 $563,690
GARY W AKENBERGER COO, ACUTE CARE & SVP, DIAG 0.00
Key Emp
$0 $38,467 $563,934
ALAN M SATTLER FORMER TREASURER, VP BUSINESS DEV. 0.00
$0 $37,223 $306,850
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
2021 No data No data $5,820,562 No data
2020 $19,226,299 $21,194,724 $5,946,601 $-1,968,425
2019 $26,626,752 $28,760,250 $79,610,197 $-2,133,498
2018 $30,125,530 $31,049,065 $82,318,502 $-923,535
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