GENESIS HEALTH SYSTEM (EIN 421418847) - 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

1994

Legal Domicile

Principal Officer

JORDAN VOIGT

Phone

5634211000

Tax Period

2024-07-01 to 2025-06-30

GENESIS HEALTH SYSTEM, founded in 1994, is a major nonprofit in the Health Care sector that reported $736.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $711.2M left a modest 3% 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 $2,496,655

Program Service Revenue $685,239,178

Investment Income $9,140,039

Other Revenue $39,202,024

TOTAL REVENUE $736,077,896

Expense Breakdown

Grants Paid $138,069

Salaries & Benefits $293,647,321

Fundraising Expenses $0

Program Expenses $595,128,317

Other Expenses $417,410,232

TOTAL EXPENSES $711,195,622

Year-over-Year Comparison

	2024	2023	Change
Revenue	$736,077,896	$675,652,982	+0.1%
Expenses	$711,195,622	$640,558,652	+0.1%
Net Income	$24,882,274	$35,094,330	-0.3%

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

4423

Volunteers

180

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

$3,091,029

Total Directors

$4,239,609

Key Employees

$839,388

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
C DANA WATERMAN III	DIRECTOR; CHAIR	1.00	Officer Director	$0	$0	$0
PETER BENSON	DIRECTOR; VICE CHAIR	1.00	Officer Director	$0	$0	$0
MELISSA PEPPER	DIRECTOR; SECRETARY	1.00	Officer Director	$0	$0	$0
GREGORY BUSH	DIRECTOR AND TREASURER THRU 12/24	1.00	Officer Director	$0	$0	$0
JORDAN VOIGT	DIRECTOR, MERCYONE EASTERN IA PRES	30.00	Officer Director	$765,249	$125,994	$1,328,793
DALE ZUDE	DIRECTOR, TREASURER AS OF 1/25	1.00	Officer Director	$0	$0	$0
EDMUND COYNE JR	DIRECTOR	1.00	Director	$0	$0	$0
KAREN FITZSIMMONS MD	DIRECTOR; PATHOLOGIST	48.00	Director	$404,385	$35,418	$439,803
PATRICIA GROVES	DIRECTOR	1.00	Director	$0	$0	$0
LYN KETELSEN	DIRECTOR	1.00	Director	$0	$0	$0
MARK KILMER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID LARSON	DIRECTOR	1.00	Director	$0	$0	$0
EDWIN MOTTO MD	DIRECTOR	1.00	Director	$0	$0	$0
ROBIN PETERSEN	DIRECTOR	1.00	Director	$0	$0	$0
LASHONDA POLITE	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT RITZ	DIRECTOR, MERCYONE PRESIDENT & CEO	1.00	Director	$0	$54,140	$2,471,013
JOSEPH MALAS	CFO AND ASST. TREASURER THRU 4/25	39.00	Officer	$821,741	$27,416	$856,623
JASON ENZLER	VP LEGAL & ASST SECRETARY THRU 8/24	40.00	Officer	$237,961	$25,824	$263,785
HEATHER CAMPBELL	ASST SEC AT 9/24;MERCYONE LEGAL OFF.	1.00	Officer	$0	$57,759	$641,828
CHRISTOPHER CROME MD	CMO THR 11/24; COO AS OF 12/24	40.00	Key Emp	$787,460	$42,697	$839,388
HEIDI KAHLY-MCMAHON	VP HUMAN RESOURCES	50.00	Highest	$771,040	$34,802	$805,842
MAY YAZEJI MD	PHYSICIAN - OBSTETRICS & GYNECOLOGY	50.00	Highest	$688,231	$22,410	$710,641
MITCHELL KRAMER MD	PHYSICIAN - FAMILY MEDICINE	50.00	Highest	$668,832	$19,946	$688,778
ROBERT FRIEDEN	VP INFORMATION SYSTEMS	50.00	Highest	$614,936	$9,582	$624,518
BRIAN CADY MD	PHYSICIAN - INTERNAL MEDICINE	50.00	Highest	$591,206	$34,780	$625,986
KURT ANDERSEN	FORMER OFF,MERCYONE CENTRAL IA PRES	0.00		$0	$245,442	$1,931,294

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	$736,077,896	$711,195,622	$1,159,987,201	$24,882,274
2024	$675,652,982	$640,558,652	$876,810,249	$35,094,330
2023	$566,591,612	$626,348,697	$731,064,616	$-59,757,085
2022	$541,189,562	$566,538,633	$919,407,007	$-25,349,071
2021	$556,919,552	$530,354,888	$1,001,993,046	$26,564,664
2020	$534,820,030	$526,791,273	$929,416,357	$8,028,757
2019	$530,251,339	$521,514,344	$866,762,987	$8,736,995
2018	$526,361,166	$511,533,094	$848,319,427	$14,828,072

GENESIS HEALTH SYSTEM