KITTSON MEMORIAL HOSPITAL (EIN 410724034) - 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

1919

Legal Domicile

Principal Officer

ANDREA SWENSON

Phone

2188433612

Tax Period

2023-10-01 to 2024-09-30

KITTSON MEMORIAL HOSPITAL, founded in 1919, is a mid-sized nonprofit in the Health Care sector that reported $17.7M in total revenue in fiscal year 2023.

Mission

KITTSON ENSURES THAT NORTHWESTERN MINNESOTA RESIDENTS HAVE ACCESS TO HEALTH 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 $95,076

Program Service Revenue $17,372,269

Investment Income $214,956

Other Revenue $39,627

TOTAL REVENUE $17,721,928

Expense Breakdown

Grants Paid $6,731

Salaries & Benefits $8,272,786

Fundraising Expenses $0

Program Expenses $14,469,767

Other Expenses $9,691,660

TOTAL EXPENSES $17,971,177

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,721,928	$18,394,973	0.0%
Expenses	$17,971,177	$17,758,031	+0.0%
Net Income	$-249,249	$636,942	-1.4%

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

211

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

$323,565

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT JASZCZAK	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHAEL SWANSON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
STACY DIAMOND	SECRETARY	1.00	Officer Director	$0	$0	$0
JANA RILEY-KRAULIK	TREASURER	1.00	Officer Director	$0	$0	$0
KENNETH HULTGREN	DIRECTOR	1.00	Director	$0	$0	$0
JANELLE CRAIGMILE	DIRECTOR	1.00	Director	$0	$0	$0
DRROLAND LARTER	DIRECTOR	1.00	Director	$0	$0	$0
HUGH HUNT	DIRECTOR	1.00	Director	$0	$0	$0
SANDY WILSON	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA SWENSON	CEO	40.00	Officer	$144,240	$37,258	$181,498
CURTIS BACH	CFO	40.00	Officer	$130,384	$11,683	$142,067
JAMES SURDY	MEDICAL DOCTOR	40.00	Highest	$402,182	$51,715	$453,897
JULIE JOHNSON	NURSE PRACTITIONER	32.00	Highest	$265,492	$67,059	$332,551
AMANDA PINNOCK	NURSE PRACTITIONER	32.00	Highest	$179,461	$44,320	$223,781
KARRAH OLIVER	PHYSICIAN ASSISTANT	32.00	Highest	$171,079	$32,273	$203,352
NICOLE JOHNSON	PHARMACIST	32.00	Highest	$150,159	$38,948	$189,107
VANESSA COOK	PHYSICIAN	32.00	Highest	$265,838	$28,838	$294,676

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	$17,721,928	$17,971,177	$11,990,074	$-249,249
2023	$17,619,510	$17,718,126	$11,734,312	$-98,616
2023	$18,394,973	$17,758,031	$12,005,226	$636,942
2022	$17,966,445	$18,620,857	$12,750,088	$-654,412
2022	$17,907,663	$18,584,102	$12,830,556	$-676,439
2021	$22,486,843	$18,117,106	$15,018,635	$4,369,737
2020	$17,370,791	$17,039,792	$15,862,362	$330,999
2019	$15,294,971	$16,367,193	$7,781,932	$-1,072,222
2018	$15,307,100	$15,540,924	$8,848,483	$-233,824

KITTSON MEMORIAL HOSPITAL