PALMER LUTHERAN HEALTH CENTER INC (EIN 421320763) - 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

1949

Legal Domicile

Principal Officer

PATRICE KUENNEN

Phone

5634223811

Tax Period

2023-10-01 to 2024-09-30

PALMER LUTHERAN HEALTH CENTER INC, founded in 1949, is a mid-sized nonprofit in the Health Care sector that reported $50.3M in total revenue in fiscal year 2023. Revenue surged 64% from the prior year, signaling strong growth momentum. Expenses of $43.7M left a modest 13% surplus.

Mission

TOGETHER, WE INSPIRE YOUR BEST LIFE BY RELENTLESSLY CARING, LEARNING AND INNOVATING. LEADING WITH LOVE, WE COURAGEOUSLY COMMIT TO A FUTURE OF HEALTHY PEOPLE AND THRIVING COMMUNITIES.

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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 $46,523

Program Service Revenue $49,935,944

Investment Income $87,084

Other Revenue $239,692

TOTAL REVENUE $50,309,243

Expense Breakdown

Grants Paid $0

Salaries & Benefits $25,589,979

Fundraising Expenses $0

Program Expenses $35,748,753

Other Expenses $18,080,362

TOTAL EXPENSES $43,670,341

Year-over-Year Comparison

	2023	2022	Change
Revenue	$50,309,243	$30,624,838	+0.6%
Expenses	$43,670,341	$30,302,502	+0.4%
Net Income	$6,638,902	$322,336	+19.6%

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

266

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

$3,080,478

Total Directors

$1,056,474

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR MORDECHAI LEDERMAN	SECRETARY/TREASURER (THRU 01/2024)	2.00	Officer Director	$0	$67,267	$359,534
RACHEL ALBRECHT	DIRECTOR/VP AMBULATORY SERVICES	2.00	Director	$0	$55,101	$290,157
TOM TORNSTROM	SECRETARY/TREASURER	2.00	Officer Director	$0	$42,385	$206,255
CHUCK JOHNSON	DIRECTOR/ENTERPRISE DIRECTOR	2.00	Director	$0	$49,570	$200,528
KRISTI FLACK	CHAIR	2.00	Officer Director	$0	$0	$0
LYNN LAUER	CHAIR (THRU 01/2024)	2.00	Officer Director	$0	$0	$0
ANDREW WENTHE	VICE CHAIR (THRU 05/2024)	2.00	Officer Director	$0	$0	$0
NICOLE HAVENSTRITE	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT RATHGABER	CEO-BGHS	2.00	Officer	$0	$68,728	$1,712,949
STEVE LITTLE	INTERIM CFO-BGHS (THRU 02/2024)	2.00	Officer	$0	$0	$333,317
PATRICE KUENNEN	CEO	50.00	Officer	$0	$49,974	$240,244
BRENDA MOSER	FINANCE ADMINISTRATOR	40.00	Officer	$0	$51,157	$228,179
JOHN CEELEN	CFO-BGHS (BEG. 02/2024)	2.00	Officer	$0	$0	$0
KEN BEACH	CRNA	50.00	Highest	$216,238	$39,980	$256,218
DEBBIE BRINK	RN	40.00	Highest	$163,765	$21,394	$185,159
EMILY MORK	PHARMACY DIRECTOR	50.00	Highest	$137,235	$32,852	$170,087
DEB KELLY	DIRECTOR OF NURSING	40.00	Highest	$143,337	$8,942	$152,279
CHERYL MITTELSTED	RN	40.00	Highest	$128,345	$2,532	$130,877
GERALD OETZEL	FORMER CFO-BGHS	0.00		$0	$18,108	$573,176

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	$50,309,243	$43,670,341	$40,830,757	$6,638,902
2023	$30,624,838	$30,302,502	$31,455,908	$322,336
2022	$38,147,925	$36,270,605	$35,735,329	$1,877,320
2021	$42,846,256	$33,626,914	$40,855,020	$9,219,342
2020	$31,462,844	$29,648,763	$33,192,593	$1,814,081
2019	$31,112,324	$29,858,175	$20,024,623	$1,254,149
2018	$29,607,388	$30,160,851	$20,325,679	$-553,463

PALMER LUTHERAN HEALTH CENTER INC