COVENANT MEDICAL CENTER INC (EIN 421264647) - 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

1985

Legal Domicile

Principal Officer

RYAN MEYER

Phone

3192728000

Tax Period

2024-07-01 to 2025-06-30

COVENANT MEDICAL CENTER INC, founded in 1985, is a major nonprofit in the Health Care sector that reported $436.4M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $406.6M left a modest 7% surplus.

Mission

TO PROVIDE HEALTH CARE AND HOSPITAL 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 (2024)

Revenue Breakdown

Contributions & Grants $1,922,650

Program Service Revenue $426,863,616

Investment Income $2,702,608

Other Revenue $4,936,866

TOTAL REVENUE $436,425,740

Expense Breakdown

Grants Paid $269,324

Salaries & Benefits $203,239,875

Fundraising Expenses $0

Program Expenses $358,316,631

Other Expenses $203,054,498

TOTAL EXPENSES $406,563,697

Year-over-Year Comparison

	2024	2023	Change
Revenue	$436,425,740	$401,603,286	+0.1%
Expenses	$406,563,697	$375,191,522	+0.1%
Net Income	$29,862,043	$26,411,764	+0.1%

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

2987

Volunteers

140

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

$1,576,714

Total Directors

$2,956,199

Key Employees

$1,157,990

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KURT ANDERSEN MD	DIRECTOR AS OF 1/25; PRES CENTRAL IA	1.00	Director	$0	$245,442	$1,931,294
AHSAN MAQSOOD MD	PHYSICIAN - CARDIOLOGY	50.00	Highest	$1,822,907	$60,535	$1,883,442
RICHARD NAYLOR DO	PHYSICIAN - ORTHOPEDICS	50.00	Highest	$1,825,436	$53,188	$1,878,624
VICTOR MUJICA MD	PHYSICIAN - GASTROENTEROLOGY	50.00	Highest	$1,370,823	$60,326	$1,431,149
GARY KNUDSON MD	PHYSICIAN - ORTHOPEDICS	50.00	Highest	$1,349,355	$50,688	$1,400,043
JASON STANFORD DO	PHYSICIAN - ORTHOPEDICS	50.00	Highest	$1,291,625	$49,353	$1,340,978
JACK DUSENBERY	FORMER OFFICER	0.00		$706,410	$21,700	$728,110
MATTHEW SOJKA MD	VP, MEDICAL AFFAIRS	40.00	Key Emp	$80,567	$51,050	$653,042
RYAN MEYER	COO	40.00	Officer	$0	$104,768	$557,288
RACHELLE MAKINDE MD	DIR; V CHAIR AS OF 12/24; PHYSICIAN	47.00	Officer Director	$489,105	$55,526	$544,631
KELLY RICHARDS	CHIEF NURSING OFFICER	40.00	Key Emp	$58,939	$48,284	$504,948
BRIAN BURNETT MD	DIRECTOR; PHYS - FAMILY MEDICINE	47.00	Director	$418,705	$61,569	$480,274
TIMOTHY HUBER	ASSISTANT TREASURER; VP OF FINANCE	40.00	Officer	$340,743	$56,525	$397,268
NANCY SCHAEFER	ASSISTANT SECRETARY; EXEC ASSISTANT	37.00	Officer	$72,333	$5,194	$77,527
DAVID DEAVER	DIRECTOR; CHAIR	1.00	Officer Director	$0	$0	$0
SANDRA BENAK	DIRECTOR	1.00	Director	$0	$0	$0
BRYAN BURTON	DIRECTOR AS OF 1/25	1.00	Director	$0	$0	$0
NANCY KERTZ	DIRECTOR AS OF 1/25	1.00	Director	$0	$0	$0
ALAN KRUGER	DIRECTOR THROUGH 12/24	1.00	Director	$0	$0	$0
CAROL TOUSLEY	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
2025	$436,425,740	$406,563,697	$443,097,341	$29,862,043
2024	No data	No data	No data	No data
2023	$328,841,980	$335,820,032	$225,227,682	$-6,978,052
2022	$319,111,884	$335,364,281	$232,340,664	$-16,252,397
2021	$320,935,164	$307,341,404	$267,916,696	$13,593,760
2020	$309,717,984	$298,323,347	$239,485,789	$11,394,637
2019	$306,203,478	$301,569,303	$208,407,389	$4,634,175
2018	$297,895,870	$311,939,119	$192,573,835	$-14,043,249

COVENANT MEDICAL CENTER INC