Hazen Memorial Hospital Association (EIN 450308379) - 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

1943

Legal Domicile

Principal Officer

Kurt Waldbillig

Phone

7017482225

Tax Period

2024-07-01 to 2025-06-30

Hazen Memorial Hospital Association, founded in 1943, is a mid-sized nonprofit in the Health Care sector that reported $20.6M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $18.6M left a modest 10% surplus.

Mission

To be the preeminent providers of innovative and collaborative healthcare 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 $714,282

Program Service Revenue $19,109,581

Investment Income $662,381

Other Revenue $128,768

TOTAL REVENUE $20,615,012

Expense Breakdown

Grants Paid $11,500

Salaries & Benefits $9,771,473

Fundraising Expenses $0

Program Expenses $15,926,939

Other Expenses $8,790,512

TOTAL EXPENSES $18,573,485

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,615,012	$21,892,343	-0.1%
Expenses	$18,573,485	$17,204,666	+0.1%
Net Income	$2,041,527	$4,687,677	-0.6%

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

171

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

$288,396

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Fred Stern	President	1.00	Officer Director	$0	$0	$0
Martha Raad	Vice President	1.00	Officer Director	$0	$0	$0
Rachel Connolly	Secretary/Treasurer	1.00	Officer Director	$0	$0	$0
Don Lyn Erickson	Director	1.00	Director	$0	$0	$0
Robin Richter	Director	1.00	Director	$0	$0	$0
Todd Lindquist	Director	1.00	Director	$0	$0	$0
Daren Eliason	Director	1.00	Director	$0	$0	$0
Jesse Krieger	Director	1.00	Director	$0	$0	$0
Myria Perry	Director	1.00	Director	$0	$0	$0
Kari Cutting	Director	1.00	Director	$0	$0	$0
Wayne Hoffner	Director	1.00	Director	$0	$0	$0
Kayla Palmer	Director as of October	1.00	Director	$0	$0	$0
Christie Obenauer-Huber	Director until October	1.00	Director	$0	$0	$0
Kurt Waldbillig	CEO	19.60	Officer	$166,742	$0	$166,742
Melissa Dillman	CFO	36.00	Officer	$116,475	$5,179	$121,654
Michael Schmit	Surgeon	40.00	Highest	$406,335	$34,512	$440,847
Carl Miller	CRNA	36.00	Highest	$177,232	$38,092	$215,324
Kimberley Binstock	FNP-C	48.00	Highest	$178,286	$38,204	$216,490
Teri Parker	Director of Senior Suites	40.00	Highest	$121,229	$5,443	$126,672
Alyssa Wolden	Pharmacist	36.00	Highest	$127,695	$15,503	$143,198

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	$20,615,012	$18,573,485	$47,167,783	$2,041,527
2024	$21,892,343	$17,204,666	$45,729,985	$4,687,677
2023	$17,323,183	$16,321,958	$41,523,644	$1,001,225
2022	$17,593,721	$16,898,470	$41,240,273	$695,251
2021	$20,952,247	$16,821,736	$41,854,516	$4,130,511
2020	$16,054,021	$16,377,539	$42,712,806	$-323,518
2019	$16,586,822	$16,586,769	$39,206,345	$53
2018	$16,900,244	$15,783,360	$40,840,371	$1,116,884

Hazen Memorial Hospital Association