United Hospital District

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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

2011

Legal Domicile

Principal Officer

Richard Ash

Phone

5075263273

Tax Period

2023-01-01 to 2023-12-31

United Hospital District, founded in 2011, is a mid-sized nonprofit in the Health Care sector that reported $46.9M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

At United Hospital District, we exist to provide and promote appropriate health care services to the communities we serve, doing so in a safe and healing environment which supports our patient-centered care philosophy.

Program Service Accomplishments

Program 1

Expenses: $39,662,383 Revenue: $44,368,470

United Hospital District, Inc. operates a 25-bed critical access hospital in Blue Earth, Minnesota. The Hospital also operates medical clinics in Blue Earth, Wells and Fairmont, Minnesota. The...

United Hospital District, Inc. operates a 25-bed critical access hospital in Blue Earth, Minnesota. The Hospital also operates medical clinics in Blue Earth, Wells and Fairmont, Minnesota. The Hospital provides health care services to patients who meet certain criteria under its charity care policy without charge or at amounts less than established rates. The estimated cost of providing these services was $367,000 for the year ended December 31, 2023, calculated by multiplying the ratio of cost to gross charges for the Hospital by the gross uncompensated charges associated with providing charity care to its patients.

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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 $355,887

Program Service Revenue $44,368,470

Investment Income $1,665,068

Other Revenue $519,828

TOTAL REVENUE $46,909,253

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,317,852

Fundraising Expenses $0

Program Expenses $39,662,383

Other Expenses $21,374,673

TOTAL EXPENSES $45,692,525

Year-over-Year Comparison

	2023	2022	Change
Revenue	$46,909,253	$42,801,198	+0.1%
Expenses	$45,692,525	$40,931,011	+0.1%
Net Income	$1,216,728	$1,870,187	-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

291

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

$525,197

Total Directors

$1,040,266

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bob Karp MD	Physician/Board Member	40.00	Director	$505,117	$49,386	$554,503
Aaron Johnson MD	Physician & CMO/Board Member	40.00	Director	$433,005	$45,023	$478,028
Ryan Milbrandt	Chairman	1.00	Officer Director	$650	$0	$650
Melanie Humburg	Secretary	1.00	Officer Director	$666	$0	$666
Douglas Johanson	Treasurer	1.00	Officer Director	$700	$0	$700
Larry Anderson	Board Member	1.00	Director	$600	$0	$600
Richard Barke	Board Member	1.00	Director	$1,069	$0	$1,069
Chase Brandt	Board Member	1.00	Director	$650	$0	$650
Joanne Hoffman	Board Member	1.00	Director	$650	$0	$650
Justin Miller	Board Member	1.00	Director	$600	$0	$600
Wyatt Rollenhagen	Board Member	1.00	Director	$1,127	$0	$1,127
Michael McCarty PA-C	Board Member	1.00	Director	$473	$0	$473
Krista Blair	Board Member	1.00	Director	$550	$0	$550
Richard Ash	CEO	40.00	Officer	$273,599	$47,585	$321,184
Patrick Justin	CFO	40.00	Officer	$182,645	$19,352	$201,997
Alex Wong MD	Physician	40.00	Highest	$553,160	$49,853	$603,013
Christopher Gran MD	Physician	40.00	Highest	$493,609	$30,716	$524,325
Jia-Shyuan Su MD	Physician	40.00	Highest	$392,821	$39,647	$432,468
David Krusemark	CRNA	40.00	Highest	$274,291	$20,085	$294,376
Laraine Klunder	CRNA	40.00	Highest	$273,865	$46,914	$320,779

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	No data	No data	No data	No data
2023	$46,909,253	$45,692,525	$53,169,752	$1,216,728
2022	$42,801,198	$40,931,011	$53,529,743	$1,870,187
2021	$43,623,403	$38,049,014	$51,620,519	$5,574,389
2020	$37,093,537	$36,110,296	$50,772,048	$983,241
2019	$39,005,216	$36,878,196	$44,335,314	$2,127,020
2018	$37,613,988	$36,455,306	$39,724,836	$1,158,682