Froedtert ThedaCare Health 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

2001

Legal Domicile

Phone

4148053000

Tax Period

2024-07-01 to 2025-06-30

Froedtert ThedaCare Health Inc, founded in 2001, is a large national nonprofit in the Health Care sector that reported $1.4B in total revenue in fiscal year 2024. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $1.2B left a modest 7% surplus.

Mission

To advance the health of our communities through excellence and discovery, inspiring each person to live their unique, best life.

Program Service Accomplishments

Program 1

Expenses: $447,087,919 Revenue: $427,877,241

HEALTH CARE MANAGEMENT SERVICES IN SUPPORT OF FROEDTERT MEMORIAL LUTHERAN HOSPITAL, INC., COMMUNITY MEMORIAL HOSPITAL OF MENOMONEE FALLS, INC., ST. JOSEPH'S COMMUNITY HOSPITAL OF WEST BEND, INC...

HEALTH CARE MANAGEMENT SERVICES IN SUPPORT OF FROEDTERT MEMORIAL LUTHERAN HOSPITAL, INC., COMMUNITY MEMORIAL HOSPITAL OF MENOMONEE FALLS, INC., ST. JOSEPH'S COMMUNITY HOSPITAL OF WEST BEND, INC., HOLY FAMILY MEMORIAL, INC., FROEDTERT HEALTH NEIGHBORHOOD HOSPITAL, FROEDTERT HEALTH PHARMACY SOLUTIONS, FROEDTERT HEALTH HOME INFUSION, VERTU RX, FROEDTERT HEALTH PHARMACY, FROEDTERT WORKFORCE HEALTH, NATIONAL LABORATORY NETWORK, FROEDTERT NORTHEAST MEDICAL GROUP, AND FROEDTERT & THE MEDICAL COLLEGE OF WISCONSIN COMMUNITY PHYSICIANS.

Program 2

Expenses: $282,424,101 Revenue: $282,424,101

HUMAN RESOURCE/STAFF SUPPORT TO FROEDTERT MEMORIAL LUTHERAN HOSPITAL, INC., COMMUNITY MEMORIAL HOSPITAL OF MENOMONEE FALLS, INC., ST. JOSEPH'S COMMUNITY HOSPITAL OF WEST BEND, INC., HOLY FAMILY...

HUMAN RESOURCE/STAFF SUPPORT TO FROEDTERT MEMORIAL LUTHERAN HOSPITAL, INC., COMMUNITY MEMORIAL HOSPITAL OF MENOMONEE FALLS, INC., ST. JOSEPH'S COMMUNITY HOSPITAL OF WEST BEND, INC., HOLY FAMILY MEMORIAL, INC., FROEDTERT HEALTH NEIGHBORHOOD HOSPITAL, FROEDTERT HEALTH PHARMACY SOLUTIONS, FROEDTERT HEALTH HOME INFUSION, VERTU RX, FROEDTERT HEALTH PHARMACY, FROEDTERT WORKFORCE HEALTH, FROEDTERT NORTHEAST MEDICAL GROUP, AND FROEDTERT & THE MEDICAL COLLEGE OF WISCONSIN COMMUNITY PHYSICIANS.

Program 3

Expenses: $235,438,462 Revenue: $293,172,297

OUTPATIENT REVENUE AND EXPENSE OF FROEDTERT NEIGHBORHOOD HOSPITAL, FROEDTERT HEALTH HOME INFUSION, FROEDTERT HEALTH PHARMACY, AND FROEDTERT NORTHEAST MEDICAL GROUP.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,244,975,273

Investment Income $88,082,950

Other Revenue $17,876,836

TOTAL REVENUE $1,350,935,059

Expense Breakdown

Grants Paid $0

Salaries & Benefits $613,860,775

Fundraising Expenses $0

Program Expenses $1,178,457,272

Other Expenses $635,911,494

TOTAL EXPENSES $1,249,772,269

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,350,935,059	$2,769,299,631	-0.5%
Expenses	$1,249,772,269	$1,191,764,087	+0.0%
Net Income	$101,162,790	$1,577,535,544	-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

23844

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

$9,820,007

Total Directors

$5,503,377

Key Employees

$15,588,695

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Imran Andrabi MD	Director & CEO/President	34.0	Officer Director	$4,591,338	$647,039	$5,238,377
Jim Kotek	Director & BOD V Chair	1.0	Officer Director	$22,500	$0	$22,500
Judson Snyder	Director & BOD Chair	1.0	Officer Director	$35,000	$0	$35,000
Andre Fernandez	Director (eff 9/26/24)	1.0	Director	$0	$0	$0
Christy L Brown	Director (eff 7/1/24)	1.0	Director	$5,000	$0	$5,000
Chuck Dallas	Director	1.0	Director	$18,750	$0	$18,750
David J Lubar	Director	1.0	Director	$0	$0	$0
Jacquelyn Fredrick	Director	1.0	Director	$23,750	$0	$23,750
Joan Prince PhD	Director	1.0	Director	$25,000	$0	$25,000
John Ber	Director	1.0	Director	$18,750	$0	$18,750
John Pfeifer	Director	1.0	Director	$15,000	$0	$15,000
Kim Underhill	Director	1.0	Director	$18,750	$0	$18,750
Kurt D Bechthold	Director	1.0	Director	$20,000	$0	$20,000
Marc Chini	Director	1.0	Director	$0	$0	$0
Mary Ellen Stanek	Director	1.0	Director	$18,750	$0	$18,750
Robert Clarke	Director	1.0	Director	$25,000	$0	$25,000
Terry Timm	Director	1.0	Director	$18,750	$0	$18,750
Paul Van Den Heuvel	Secr & Chief Legal Officer	42.0	Officer	$1,586,569	$80,399	$1,666,968
Scott Hawig	Treasurer	48.0	Officer	$2,581,219	$275,943	$2,857,162
Allen Ericson	CHD President	5.0	Key Emp	$1,114,216	$180,192	$1,294,408
Catherine Jacobson	FTCH CEO (TERMED 6/30/24)	50.0	Key Emp	$5,240,519	$39,640	$5,280,159
Dale Gisi	Sr VP ThedaCare Central Region	49.0	Key Emp	$954,900	$168,718	$1,123,618
Eric Humphrey	FTCH Chief HR Officer (termed 8/27/24)	50.0	Key Emp	$2,539,244	$124,687	$2,663,931
Ian Schwartz MD	Interim President FMLH	5.0	Key Emp	$2,007,880	$245,311	$2,253,191
Lynn Detterman	Sr VP ThedaCare South Region	50.0	Key Emp	$1,372,556	$182,304	$1,554,860
Maggie Lund	FTCH Chief HR Officer (eff 8/27/24)	42.0	Key Emp	$1,355,811	$62,717	$1,418,528
Amy Marquardt	Sr VP, Chief Legal Officer	50.0	Highest	$2,645,257	$99,112	$2,744,369
David Olson	Sr VP & Chief Strategy Officer	50.0	Highest	$2,070,602	$99,353	$2,169,955
Joshua Blomberg	Doctor-Orthopedic Surgery	50.0	Highest	$1,585,150	$70,899	$1,656,049
Mark Thompson	Chief Transformational Invest and Value Integ Off	50.0	Highest	$1,795,519	$80,354	$1,875,873
Thomas Arquilla	Chief Growth Officer	50.0	Highest	$1,615,955	$73,345	$1,689,300
Eric Conley	Former - Key (FMLH President)	50.0		$312,776	$89,968	$402,744
James Klauck	Former - Key (Sr VP Ancillary Svcs)	50.0		$783,186	$149,999	$933,185
Jose Olivieri	Former - Director	0.0		$15,000	$0	$15,000
Richelle Webb Dixon	Former - Key (FMLH COO)	50.0		$310,863	$106,986	$417,849
Sony Jacob	Former - Key (FTCH CIO)	50.0		$218,919	$69,403	$288,322
Teresa Lux	Former - Key (CHD COO)	0.0		$822,992	$139,504	$962,496

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
2025	$1,350,935,059	$1,249,772,269	$5,818,878,671	$101,162,790
2024	No data	No data	No data	No data
2023	$1,101,803,802	$990,329,085	$3,376,180,624	$111,474,717
2022	$955,789,526	$843,708,052	$3,249,193,885	$112,081,474
2021	$881,324,652	$789,424,132	$3,415,179,967	$91,900,520
2020	$675,461,810	$620,086,121	$2,857,726,016	$55,375,689
2019	$598,788,309	$524,121,690	$2,635,413,479	$74,666,619
2018	$562,402,118	$487,045,921	$2,518,396,674	$75,356,197