KEOKUK AREA 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

1975

Legal Domicile

Principal Officer

BRIAN T CANFIELD

Phone

3195247150

Tax Period

2021-10-01 to 2022-09-30

KEOKUK AREA HOSPITAL, founded in 1975, is a mid-sized nonprofit in the Health Care sector that reported $21.6M in total revenue in fiscal year 2021. Revenue surged 78% from the prior year, signaling strong growth momentum. Expenses of $18.9M left a modest 13% surplus.

Mission

IMPROVING COMMUNITY HEALTH AND ENSURING ACCESS TO QUALITY HEALTHCARE SERVICES REGARDLESS OF ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $14,991,399 Revenue: $10,084,157

KEOKUK AREA HOSPITAL (KAH) IS A NOT-FOR-PROFIT ACUTE CARE HOSPITAL FULLY ACCREDITED BY THE JOINT COMMISSION. ANNUALLY, KAH SERVICES APPROXIMATELY 300 ADMISSIONS, 7,000 EMERGENCY ROOM VISITS, AND...

KEOKUK AREA HOSPITAL (KAH) IS A NOT-FOR-PROFIT ACUTE CARE HOSPITAL FULLY ACCREDITED BY THE JOINT COMMISSION. ANNUALLY, KAH SERVICES APPROXIMATELY 300 ADMISSIONS, 7,000 EMERGENCY ROOM VISITS, AND 20,000 OUTPATIENT VISITS TO THE RESIDENTS OF KEOKUK, IOWA AND SURROUNDING AREAS. KAH ALSO SERVICES PATIENTS FROM A TRI-STATE AREA INCLUDING LEE COUNTY, IA, HANCOCK COUNTY, IL, AND CLARK COUNTY, MO. THE HOSPITAL HAS APPROXIMATELY 103 CREDENTIALED PHYSICIANS AND 9 CRNA/ARNPS ON THE MEDICAL STAFF AND IS GOVERNED BY THE KEOKUK HEALTH SYSTEMS BOARD OF DIRECTORS WHICH IS MADE UP OF LOCAL COMMUNITY MEMBERS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $11,320,814

Program Service Revenue $10,084,157

Investment Income $11,085

Other Revenue $216,236

TOTAL REVENUE $21,632,292

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,430,508

Fundraising Expenses $0

Program Expenses $14,991,399

Other Expenses $6,455,774

TOTAL EXPENSES $18,886,282

Year-over-Year Comparison

	2021	2020	Change
Revenue	$21,632,292	$12,146,294	+0.8%
Expenses	$18,886,282	$12,438,313	+0.5%
Net Income	$2,746,010	$-292,019	-10.4%

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

227

Volunteers

N/A

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

$1,425,110

Total Directors

$2,014,745

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAUREEN KAHN	PRESIDENT/CE	0.00	Director	$0	$231,327	$2,014,745
PATRICK GERVELER	TREASURER	0.00	Officer	$0	$143,011	$819,209
KATHLEEN E HULL	ADMINISTRATO	0.00	Officer	$0	$47,276	$360,420
VICKIE RENEAU	ADMINISTRATO	39.00	Officer	$172,359	$22,566	$194,925
TERESA CONLEE	SECRETARY	40.00	Officer	$50,556	$0	$50,556
MIKE DUNN	DIRECTOR	1.00	Director	$0	$0	$0
KYLE KECK	DIRECTOR	1.00	Director	$0	$0	$0
DR KIRAN KHANOLKAR	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL KLAUSER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MAHER	CHAIR	1.00	Officer Director	$0	$0	$0
TOM RICHARDSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BARB SMIDT	DIRECTOR	1.00	Director	$0	$0	$0
DR DONZA WORDEN	DIRECTOR	1.00	Director	$0	$0	$0

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
2022	$21,632,292	$18,886,282	$5,237,631	$2,746,010
2021	$12,146,294	$12,438,313	$5,149,011	$-292,019
2020	$13,556,125	$20,018,175	$11,024,293	$-6,462,050
2019	$11,685,840	$19,518,170	$9,948,775	$-7,832,330
2018	$12,535,784	$23,143,374	$12,381,657	$-10,607,590