SHENANDOAH MEDICAL CENTER

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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

1978

Legal Domicile

Principal Officer

MATTHEW SELLS

Phone

7122461230

Tax Period

2023-01-01 to 2023-12-31

SHENANDOAH MEDICAL CENTER, founded in 1978, is a mid-sized nonprofit in the Health Care sector that reported $59.7M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $53.6M left a modest 10% surplus.

Mission

TO MAKE A DIFFERENCE BY PROVIDING EXCEPTIONAL PATIENT CARE.

Program Service Accomplishments

Program 1

Expenses: $47,184,216 Revenue: $56,281,999

SHENANDOAH MEDICAL CENTER IS A CRITICAL ACCESS HOSPITAL WITH 25 ACUTE BEDS. THE HOSPITAL PROVIDES ACUTE AND ANCILLARY SERVICES TO INDIVIDUALS IN AN INPATIENT AND OUTPATIENT SETTING. IN JUNE OF 2020 THE SHENANDOAH MEDICAL CENTER ASSUMED RESPONSIBILITY FOR THE CANCER TREATMENT CENTER. IN 2023 THE CANCER CENTER PROVIDED 7,520 VISITS. SHENANDOAH MEDICAL CENTER CONTINUES TO LEASE SPACE TO THE DIALYSIS TREATMENT CENTER. DURING 2023 THE HOSPITAL PROVIDED 930 DAYS OF ACUTE CARE, 708 DAYS OF SKILLED CARE, 165 NURSERY DAYS AND 204,716 OUTPATIENT OCCASIONS OF SERVICE.

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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 $2,707,562

Program Service Revenue $56,087,519

Investment Income $624,784

Other Revenue $266,200

TOTAL REVENUE $59,686,065

Expense Breakdown

Grants Paid $0

Salaries & Benefits $29,051,655

Fundraising Expenses $0

Program Expenses $47,184,216

Other Expenses $24,576,292

TOTAL EXPENSES $53,627,947

Year-over-Year Comparison

	2023	2022	Change
Revenue	$59,686,065	$51,093,020	+0.2%
Expenses	$53,627,947	$49,294,841	+0.1%
Net Income	$6,058,118	$1,798,179	+2.4%

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

407

Volunteers

223

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

$555,968

Total Directors

$372,819

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HEATHER BABE MD	DIRECTOR	40.00	Director	$353,416	$19,403	$372,819
DENNIS GREBERT	CHAIRMAN	3.00	Officer Director	$0	$0	$0
JOHN FINN	VICE CHAIRMAN	3.00	Officer Director	$0	$0	$0
JON SKILLERN	SECRETARY/TREASURER	3.00	Officer Director	$0	$0	$0
JILLIAN TRAVIS	DIRECTOR	3.00	Director	$0	$0	$0
JAMES DOYLE	DIRECTOR	3.00	Director	$0	$0	$0
BRUCE BALDWIN	DIRECTOR	3.00	Director	$0	$0	$0
NICK BOSLEY	DIRECTOR	3.00	Director	$0	$0	$0
AMY MILLER	DIRECTOR	3.00	Director	$0	$0	$0
MATTHEW SELLS	PRESIDENT & CEO	40.00	Officer	$338,608	$39,610	$378,218
KALEY NEAL	CFO	40.00	Officer	$166,528	$11,222	$177,750
MOHAMED ABDI	PHYSICIAN	40.00	Highest	$421,728	$8,231	$429,959
REBECCA ROSE	PHYSICIAN	40.00	Highest	$494,940	$25,523	$520,463
MARTEE MACLEOD-KOZAL	PHYSICIAN	40.00	Highest	$443,163	$32,200	$475,363
CHASE BROWN	PHYSICIAN	40.00	Highest	$433,304	$31,728	$465,032
MICHAEL WOODS	PHYSICIAN	40.00	Highest	$427,067	$22,462	$449,529

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	$59,686,065	$53,627,947	$79,783,296	$6,058,118
2022	$51,093,020	$49,294,841	$65,095,594	$1,798,179
2021	$53,754,700	$48,568,243	$66,279,280	$5,186,457
2020	$49,528,888	$45,303,999	$64,157,556	$4,224,889
2019	$44,163,863	$43,606,633	$50,971,420	$557,230
2018	$44,209,491	$47,317,866	$50,805,197	$-3,108,375