SHELBY COUNTY MEDICAL CORPORATION

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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

1990

Legal Domicile

Principal Officer

BARRY JACOBSEN

Phone

7127554314

Tax Period

2023-07-01 to 2024-06-30

SHELBY COUNTY MEDICAL CORPORATION, founded in 1990, is a community nonprofit in the Health Care sector that reported $5.7M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

NONE

Program Service Accomplishments

Program 1

Expenses: $5,962,219 Revenue: $5,726,483

SHELBY COUNTY MEDICAL CORPORATION RECRUITED, EMPLOYED, AND FURNISHED PHYSICIANS FOR RURAL HEALTH CLINICS, OTHER PHYSICIAN CLINICS, AN EMERGENCY ROOM, AND A HOSPITAL PHYSICIAN PRACTICE AT SHELBY...

SHELBY COUNTY MEDICAL CORPORATION RECRUITED, EMPLOYED, AND FURNISHED PHYSICIANS FOR RURAL HEALTH CLINICS, OTHER PHYSICIAN CLINICS, AN EMERGENCY ROOM, AND A HOSPITAL PHYSICIAN PRACTICE AT SHELBY COUNTY CHRIS A. MYRTUE MEMORIAL HOSPITAL. SERVICES PROVIDED INCLUDED SERVING AS MEDICAL STAFF FOR THE HOSPITAL AND APPROXIMATELY 121,793 PATIENT SERVICE VISITS.

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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 $0

Program Service Revenue $5,726,483

Investment Income $7,024

Other Revenue $0

TOTAL REVENUE $5,733,507

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,031,827

Fundraising Expenses $0

Program Expenses $5,962,219

Other Expenses $1,127,880

TOTAL EXPENSES $6,159,707

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,733,507	$6,121,328	-0.1%
Expenses	$6,159,707	$5,806,949	+0.1%
Net Income	$-426,200	$314,379	-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

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

$349,088

Total Directors

$454,896

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT MARKHAM	DIRECTOR/PHYSICIAN	40.00	Director	$416,599	$38,297	$454,896
MATT HUDSON	PRESIDENT	0.20	Officer Director	$0	$0	$0
TERRY TORNETEN	VICE PRESIDENT	0.20	Officer Director	$0	$0	$0
JEANINE LARSEN	SECRETARY/TREASURER	0.20	Officer Director	$0	$0	$0
KRISTEN VAN BAALE	DIRECTOR	0.20	Director	$0	$0	$0
BARRY JACOBSEN	CEO - MYRTUE MEDICAL CENTER	2.00	Officer	$0	$44,016	$349,088
LEROY HODGES	PHYSICIAN	40.00	Highest	$508,809	$61,444	$570,253
BRET HEILESON	PHYSICIAN	40.00	Highest	$480,406	$46,478	$526,884
TIMOTHY BRELJE	PHYSICIAN	40.00	Highest	$435,296	$48,071	$483,367
TINA SCHECHINGER	PHYSICIAN	40.00	Highest	$426,040	$51,232	$477,272
BRIAN ANDERSON	PHYSICIAN	40.00	Highest	$395,934	$51,816	$447,750

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	No data	No data	No data	No data
2024	$5,733,507	$6,159,707	$522,061	$-426,200
2023	$6,121,328	$5,806,949	$745,307	$314,379
2022	$5,639,952	$5,393,522	$438,312	$246,430
2021	$4,940,722	$4,587,656	$134,954	$353,066
2020	$4,053,676	$4,347,092	$473,231	$-293,416
2019	$4,291,523	$4,334,812	$646,494	$-43,289
2018	$4,450,749	$4,540,555	$706,013	$-89,806