Carroll County Memorial Hospital (EIN 440629397) - 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

1957

Legal Domicile

Principal Officer

Scott Thoreson

Phone

6605421695

Tax Period

2024-07-01 to 2025-06-30

Carroll County Memorial Hospital, founded in 1957, is a mid-sized nonprofit in the Health Care sector that reported $49.8M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $48.2M left a modest 3% surplus.

Mission

Carroll County Memorial Hospital is dedicated to the health and well-being of all we serve.

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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 $500

Program Service Revenue $49,461,522

Investment Income $309,502

Other Revenue $72,303

TOTAL REVENUE $49,843,827

Expense Breakdown

Grants Paid $0

Salaries & Benefits $23,570,685

Fundraising Expenses $0

Program Expenses $39,826,505

Other Expenses $24,583,018

TOTAL EXPENSES $48,153,703

Year-over-Year Comparison

	2024	2023	Change
Revenue	$49,843,827	$45,100,344	+0.1%
Expenses	$48,153,703	$44,534,980	+0.1%
Net Income	$1,690,124	$565,364	+2.0%

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

295

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

$500,331

Total Directors

$363,577

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Anna Barlow	President	2.00	Officer Director	$0	$0	$0
Tom Burkhart	Vice Pres	2.00	Officer Director	$0	$0	$0
Ken Brown	Secr/Treas	2.00	Officer Director	$0	$0	$0
Wade Mertensmeyer	Member	2.00	Director	$0	$0	$0
Matt Lock	Member	2.00	Director	$0	$0	$0
Jennifer Link	Member	2.00	Director	$0	$0	$0
Jennifer Poston OD	Member	2.00	Director	$0	$0	$0
Janice Burnside	Member	2.00	Director	$0	$0	$0
Tracey Woodward	Member	2.00	Director	$0	$0	$0
Timothy Reid MD	Member/Physician	42.00	Director	$304,318	$59,259	$363,577
Kevin Brown	Member (thru Jan)	2.00	Director	$0	$0	$0
Scott Thoreson	CEO	39.00	Officer	$241,526	$40,857	$282,383
Lesley Delaney	CFO	39.00	Officer	$170,061	$47,887	$217,948
Gregory Hubbard MD	Surgeon	40.00	Highest	$727,097	$48,950	$776,047
Richard Smith MD	Physician	40.00	Highest	$517,935	$38,950	$556,885
Jeremy Stayton MD	Surgeon	40.00	Highest	$490,094	$24,740	$514,834
Andrew Horine MD	Physician	40.00	Highest	$447,892	$63,964	$511,856
Amy North DO	Physician	40.00	Highest	$330,789	$48,909	$379,698

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	$49,843,827	$48,153,703	$41,382,515	$1,690,124
2024	No data	No data	No data	No data
2023	$39,565,781	$40,751,770	$39,557,467	$-1,185,989
2022	$42,326,157	$40,292,224	$41,868,787	$2,033,933
2021	$43,303,197	$39,805,472	$46,592,122	$3,497,725
2020	$36,923,105	$33,623,232	$47,527,402	$3,299,873
2019	$31,222,684	$32,281,004	$38,922,388	$-1,058,320
2018	$33,298,184	$33,106,058	$41,454,466	$192,126

Carroll County Memorial Hospital