WMC PUBLIC BENEFIT 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

2015

Legal Domicile

Principal Officer

MICHAEL NESTER

Phone

6627795101

Tax Period

2023-01-01 to 2023-12-31

WMC PUBLIC BENEFIT CORPORATION, founded in 2015, is a community nonprofit in the Health Care sector that reported $3.4M in total revenue in fiscal year 2023. Revenue fell 92% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.1M, a strong 33% operating margin.

Mission

WMC PUBLIC BENEFIT CORPORATION'S MISSION IS TO PROMOTE AND ASSIST WINSTON COUNTY MEDICAL FOUNDATION (A NOT-FOR-PROFIT CORPORATION OPERATING AN ACUTE CARE HOSPITAL AND A LONG-TERM CARE NURISNG HOME LOCATED IN LOUISVILLE, MS)WITH THE DEVELOPMENT OF HOSPITAL FACILITIES AND THE SECURING OF CAPITAL FOR THE OPERATION OF HEALTH CARE RELATED SERVICES TO BENEFIT THE HEALTH AND WELLNESS OF THE CITIZENS OF WINSTON COUNTY, MS AND SURROUNDING AREAS.

Program Service Accomplishments

Program 1

Expenses: $2,240,526 Revenue: $3,368,472

WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A LEASE AGREEMENT WIT WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" ON DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSO SHALL PROVIDE AND LEASE TO THE LESSEE THE LAND AND HOSPITAL FACILITY WHICH CONSIST OF VARIOUS BUILDINGS AND A PARKING AREA. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF THIRTY YEARS. WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A SEPARATE LEASE AGREEMENT WITH WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" O DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSOR SHALL PROVIDE AND LEASE TO THE LESSEE VARIOUS EQUIPMENT. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF SEVEN YEARS.

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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 $3,368,176

Investment Income $296

Other Revenue $0

TOTAL REVENUE $3,368,472

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,240,526

Other Expenses $2,240,526

TOTAL EXPENSES $2,240,526

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,368,472	$44,422,990	-0.9%
Expenses	$2,240,526	$5,187,716	-0.6%
Net Income	$1,127,946	$39,235,274	-1.0%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DON BRANTLEY	TRUSTEE	N/A	Director	$0	$0	$0
BRUCE LEE	TRUSTEE	N/A	Director	$0	$0	$0
MARY TABOR	TRUSTEE	N/A	Director	$0	$0	$0
DOW THOMAS	TRUSTEE	N/A	Director	$0	$0	$0
TERRY WOODS	TRUSTEE	N/A	Director	$0	$0	$0
MICHAEL NESTER	CEO	N/A	Officer	$0	$0	$0

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	$3,368,472	$2,240,526	$44,114,126	$1,127,946
2022	$44,422,990	$5,187,716	$43,464,665	$39,235,274
2021	$3,262,410	$5,397,333	$47,800,938	$-2,134,923
2020	$3,293,033	$5,371,835	$50,234,965	$-2,078,802
2019	$3,233,076	$5,461,719	$52,614,846	$-2,228,643
2018	$3,233,081	$5,513,642	$55,132,102	$-2,280,561