ELY-BLOOMENSON COMMUNITY HOSPITAL

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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

1956

Legal Domicile

Principal Officer

PATTI BANKS

Phone

2183653271

Tax Period

2023-10-01 to 2024-09-30

ELY-BLOOMENSON COMMUNITY HOSPITAL, founded in 1956, is a mid-sized nonprofit in the Health Care sector that reported $33.6M in total revenue in fiscal year 2023.

Mission

ELY-BLOOMENSON COMMUNITY HOSPITAL IS COMMITTED TO CARING FOR AND ENHANCING THE HEALTH AND WELL-BEING OF THE COMMUNITY IT SERVES.

Program Service Accomplishments

Program 1

Expenses: $28,085,702 Revenue: $32,622,535

HOSPITAL SERVICES PROVIDED FOR THE ELY COMMUNITY AND SURROUNDING AREA. ELY-BLOOMENSON COMMUNITY HOSPITAL (EBCH), RECOGNIZED BY THE FEDERAL & STATE OF MINNESOTA GOVERNMENTS AS A CRITICAL ACCESS...

HOSPITAL SERVICES PROVIDED FOR THE ELY COMMUNITY AND SURROUNDING AREA. ELY-BLOOMENSON COMMUNITY HOSPITAL (EBCH), RECOGNIZED BY THE FEDERAL & STATE OF MINNESOTA GOVERNMENTS AS A CRITICAL ACCESS HOSPITAL, IS THE ONLY LOCAL HEALTHCARE CENTER SERVING ELY AND SURROUNDING COMMUNITIES BORDERING THE VAST ACREAGE OF BOUNDARY WATERS CANOE AREA WILDERNESS. UNDER ORIGINAL FEDERAL RULES EBCH WOULD HAVE BEEN ONLY ONE OUT OF SEVEN HOSPITALS IN MINNESOTA THAT WOULD HAVE QUALIFIED FOR CRITICAL ACCESS HOSPITAL STATUS. THE HOSPITAL BOASTS: IN AND OUTPATIENT HOSPITAL NURSING SERVICE, IN-HOUSE LABORATORY, AN ON-SITE RETAIL PHARMACY, PHYSICAL AND OCCUPATIONAL THERAPY, CHEMOTHERAPY, A FULLY-STAFFED 24-7 RADIOLOGY DEPARTMENT, A PROFESSIONAL ANESTHESIA TEAM, SWING BED CARE FOR PATIENTS WHO NO LONGER REQUIRE ACUTE CARE HOSPITALIZATION, AND A 24-7 EMERGENCY ROOM. DURING THE FY2024 EBCH PERFORMED 629 SURGICAL PROCEDURES, 27,460 LABORATORY TESTS, 7,233 RADIOLOGICAL EXAMS, AND 3,776 EMERGENCY ROOM VISITS. IN ADDITION, 224 PEOPLE WERE ADMITTED FOR INPATIENT CARE. 578 DAYS OF CARE WERE PROVIDED FOR INPATIENTS AND 398 DAYS OF CARE WERE PROVIDED TO SWING BED PATIENTS, 3,036 OUTPATIENTS WERE SEEN, 20,206 MODALITIES WERE PERFORMED IN OT AND PT, AND 1,241 MODALITIES WERE PERFORMED IN CARDIAC REHAB.

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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 $565,000

Program Service Revenue $32,569,536

Investment Income $392,472

Other Revenue $77,466

TOTAL REVENUE $33,604,474

Expense Breakdown

Grants Paid $110,579

Salaries & Benefits $13,828,592

Fundraising Expenses $0

Program Expenses $28,085,702

Other Expenses $19,225,515

TOTAL EXPENSES $33,164,686

Year-over-Year Comparison

	2023	2022	Change
Revenue	$33,604,474	$31,195,531	+0.1%
Expenses	$33,164,686	$30,468,212	+0.1%
Net Income	$439,788	$727,319	-0.4%

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

151

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

$291,884

Total Directors

Key Employees

$418,927

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RIANA HEGMAN	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN PETERSON SR	DIRECTOR	1.00	Director	$0	$0	$0
JOHN SAW	DIRECTOR	1.00	Director	$0	$0	$0
MARY ANN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT WILMUNEN	DIRECTOR	1.00	Director	$0	$0	$0
JO LANGAN	DIRECTOR UNTIL 12/31/23	1.00	Director	$0	$0	$0
TODD HEIMAN	TREASURER	1.00	Officer Director	$0	$0	$0
KELLY KLUN	SECRETARY UNTIL 12/31/23	1.00	Officer Director	$0	$0	$0
BARBARA SODERBERG	SECRETARY	1.00	Officer Director	$0	$0	$0
TIM RILEY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DEVON LUTHENS	PRESIDENT	1.00	Officer Director	$0	$0	$0
PATTI BANKS	CEO	39.50	Officer	$248,682	$43,202	$291,884
BROCK URIE	CMO/PHYSICIAN	40.00	Key Emp	$418,927	$0	$418,927
SAM RICE	PHYSICIAN	40.00	Highest	$195,241	$32,641	$227,882
KARLA GRIZZARD	RN	40.00	Highest	$182,753	$37,293	$220,046
JOHN SCHINDELE	PHARMACIST	40.00	Highest	$176,080	$43,567	$219,647
BETH HARTSHORN	PHARMACIST	40.00	Highest	$160,086	$16,486	$176,572
ABIGAIL SIREK	PHARMACIST	40.00	Highest	$150,399	$15,992	$166,391

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	$33,604,474	$33,164,686	$29,624,244	$439,788
2023	$31,195,531	$30,468,212	$29,881,505	$727,319
2022	$29,513,153	$27,517,714	$26,208,958	$1,995,439
2021	$31,521,078	$25,244,591	$25,820,577	$6,276,487
2020	$22,088,915	$22,320,053	$24,783,739	$-231,138
2019	$22,120,550	$21,430,355	$20,953,774	$690,195
2018	$20,098,725	$19,003,359	$20,525,017	$1,095,366