MERITER HEALTH SERVICES INC

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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

1898

Legal Domicile

Principal Officer

JAMES ARNETT

Phone

6084176000

Tax Period

2023-01-01 to 2023-12-31

MERITER HEALTH SERVICES INC, founded in 1898, is a community nonprofit in the Health Care sector that reported $4.6M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Net assets of $792.9M represent 2071 months of operating reserves.

Mission

MERITER IS DEDICATED TO IMPROVING THE HEALTH OF THE PEOPLE AND COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $960,745 Revenue: $4,131,185

MERITER HEALTH SERVICES, INC. IS AN INNOVATIVE, NOT-FOR-PROFIT COMPREHENSIVE HEALTH CARE ORGANIZATION WHOSE VISION IS TO PROVIDE THE BEST TOTAL HEALTHCARE EXPERIENCE TO EVERYONE WE SERVE. ONE OF THE LARGEST PRIVATE EMPLOYERS, MERITER IS THE ONLY MADISON, WISCONSIN HEALTH CARE PROVIDER GOVERNED BY A COMMUNITY BOARD OF LOCAL BUSINESS, MEDICAL AND CIVIC LEADERS. MERITER HEALTH SERVICES, INC. IS KNOWN FOR ITS WILLINGNESS TO COLLABORATE WITH OTHER HEALTH CARE PARTNERS TO ADDRESS THE HEALTH CARE NEEDS OF THE COMMUNITY. MERITER HEALTH SERVICES, INC. PROVIDES STRATEGIC SUPPORT OF MERITER HOSPITAL, INC., MERITER MEDICAL GROUP, INC., MERITER HOME HEALTH, AND MERITER LABS.

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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 $4,131,185

Investment Income $462,514

Other Revenue $0

TOTAL REVENUE $4,593,699

Expense Breakdown

Grants Paid $458,502

Salaries & Benefits $3,712,482

Fundraising Expenses $0

Program Expenses $960,745

Other Expenses $390,085

TOTAL EXPENSES $4,561,069

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,593,699	$4,085,322	+0.1%
Expenses	$4,561,069	$3,659,465	+0.2%
Net Income	$32,630	$425,857	-0.9%

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

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

$1,986,398

Total Directors

$1,287,247

Key Employees

$1,134,861

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN ASHLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
RUKMINI BANERJEE	BOARD MEMBER	1.00	Director	$0	$0	$0
ALISON CRAIG-SHASHKO MD	BOARD MEMBER	1.00	Director	$0	$0	$0
VIRGINIA GRAVES TO 623	BOARD MEMBER	1.00	Director	$0	$0	$7,850
RONALD HENSHUE	BOARD MEMBER	1.00	Director	$0	$0	$0
NEWRHEE KIM MD	BOARD VICE CHAIR	3.00	Officer Director	$0	$0	$0
BRADLEY MANNING MD	BOARD MEMBER	1.00	Director	$0	$0	$11,475
MARGARET NOREUIL RN PHD	BOARD PAST CHAIR	1.00	Director	$0	$0	$7,250
PAT SETJI	BOARD MEMBER	1.00	Director	$0	$0	$0
DOUG STRUB	BOARD CHAIR	3.00	Officer Director	$12,500	$0	$25,000
MARY THOMPSON MD	BOARD MEMBER	1.00	Director	$0	$0	$0
CHERYL WITTKE	BOARD MEMBER	1.00	Director	$0	$0	$0
JASON YELK DO	BOARD MEMBER	1.00	Director	$0	$51,887	$396,423
JAMES ARNETT	BOARD MEMBER/PRESIDENT/CEO	5.00	Officer Director	$742,672	$96,577	$839,249
BETH ERDMAN	CFO/TREASURER	15.00	Officer	$427,113	$48,661	$475,774
PAM WETZEL MD	CMO/ASSISTANT SECRETARY	5.00	Officer	$610,383	$35,992	$646,375
SHERRY CASALI	CHIEF NURSING OFFICER	5.00	Key Emp	$396,653	$61,766	$458,419
SHANA WUEBBEN	VP HR/SECRETARY	5.00	Key Emp	$327,202	$47,667	$374,869
CHRISTINA JACKSON	CHIEF OPERATING OFFICER	15.00	Key Emp	$263,745	$37,828	$301,573
ART NIZZA DSW TO 118	FORMER CEO UPH-MERITER	0.00		$0	$0	$156,611
SUE ERICKSON TO 622	FORMER CEO UPH-MERITER	0.00		$0	$144,038	$1,969,435

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	$4,593,699	$4,561,069	$794,560,216	$32,630
2022	$4,085,322	$3,659,465	$717,079,189	$425,857
2021	$4,578,617	$4,356,471	$754,843,828	$222,146
2020	$4,134,335	$3,787,862	$652,583,473	$346,473
2019	$4,518,862	$4,299,772	$576,529,777	$219,090
2018	$3,654,206	$3,498,408	$493,097,065	$155,798