Calvert Health System Inc (EIN 522347324) - 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

2000

Legal Domicile

Phone

4105354000

Tax Period

2024-07-01 to 2025-06-30

Calvert Health System Inc, founded in 2000, is a mid-sized nonprofit in the Health Care sector that reported $33.1M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $38.0M exceeded revenue, resulting in a 15% operating deficit.

Mission

CALVERT HEALTH SYSTEM, INC. WAS ORGANIZED AND AT ALL TIMES OPERATES EXCLUSIVELY FOR THE BENEFIT OF CalvertHealth Medical Center. CALVERT HEALTH SYSTEM, INC. MANAGES ITS SUBSIDIARIES IN ORDER TO PROMOTE AND SUPPORT PUBLIC HEALTH PROGRAMS AND SERVICES FOR THE COMMUNITY.

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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 $501,930

Program Service Revenue $23,405,803

Investment Income $6,928,951

Other Revenue $2,265,261

TOTAL REVENUE $33,101,945

Expense Breakdown

Grants Paid $0

Salaries & Benefits $19,520,834

Fundraising Expenses $0

Program Expenses $33,640,314

Other Expenses $18,435,373

TOTAL EXPENSES $37,956,207

Year-over-Year Comparison

	2024	2023	Change
Revenue	$33,101,945	$29,538,015	+0.1%
Expenses	$37,956,207	$33,028,805	+0.1%
Net Income	$-4,854,262	$-3,490,790	+0.4%

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

158

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

$2,245,910

Total Directors

$965,242

Key Employees

$2,421,051

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jeremy S Bradford	PRESIDENT & CEO	1.0	Officer Director	$0	$132,298	$965,242
Anthony Butters	Board Member	2.0	Director	$0	$0	$0
Barbara Gardner	Board Secretary	4.0	Director	$0	$0	$0
Chang Choi MD	Board Member	1.0	Director	$0	$0	$0
Gerald Clark	Board Member	2.0	Director	$0	$0	$0
Kathy Dickenson	Board Member	2.0	Director	$0	$0	$0
Lisa Harford	Board Member - Ex-Officio	1.0	Director	$0	$0	$0
Marjorie Clagett	Board Member	1.0	Director	$0	$0	$0
Mike Cox	Board Member	2.0	Director	$0	$0	$0
Sally Showalter	Board Member	2.0	Director	$0	$0	$0
Samuel Foster MD	Board Member - Ex-Officio	1.0	Director	$0	$0	$0
Scott Reeves	Board Treasurer	2.0	Director	$0	$0	$0
Stephanie Dabulis MD	Board Member - Ex-Officio	1.0	Director	$0	$0	$0
Terri Wolfley	Board Vice Chairperson	2.0	Director	$0	$0	$0
Uday Patel MD	Board Member	1.0	Director	$0	$0	$0
Wilson Parran	Board Chairperson	20.0	Director	$0	$0	$0
Yolanda Wilson	Board Member	5.0	Director	$0	$0	$0
Carolyn M Heithaus	VP FINANCE	1.0	Officer	$0	$69,069	$786,200
Joseph Patrick Garcia-Valle	CHIEF COMPLIANCE COUNSEL	1.0	Officer	$0	$12,371	$261,934
Laural H Brinkley	VP CLINICAL SERVICES CHIEF NURSING OFFICER	1.0	Officer	$0	$27,862	$232,534
Benjamin I Cox	AVP INFORMATION SERVICES/CIO	1.0	Key Emp	$0	$35,032	$277,073
Christian J Sorochty	VICE PRESIDENT HUMAN RESOURCES	1.0	Key Emp	$0	$24,427	$321,466
Kara A Harrer	AVP ANCILLARY OPERATIONS	1.0	Key Emp	$0	$14,378	$261,370
Kasia A Sweeney	VP STRATEGY & BUSINESS DEVELOPMENT	1.0	Key Emp	$0	$34,621	$380,207
Nicole M Hedderich	ASSOC VP QUALITY & RISK MGMT	1.0	Key Emp	$0	$11,567	$247,126
Theodore N Tsangaris MD	VP MEDICAL AFFAIRS/CHIEF MEDICAL OFFICER	1.0	Key Emp	$0	$42,368	$530,008
Theresa L Johnson	VP BRAND STRATEGY & PHILANTHROPY	1.0	Key Emp	$0	$33,955	$403,801
Bilal Ahmed	Physician	40.0	Highest	$1,104,461	$38,874	$1,143,335
Ervind Bhogte	Physician	40.0	Highest	$520,877	$30,415	$551,292
Gregory Dalencourt	Physician	40.0	Highest	$530,027	$39,018	$569,045
Kenneth Abbott	Physician	40.0	Highest	$570,636	$28,742	$599,378
Ramzi Alami	Physician	40.0	Highest	$591,481	$37,620	$629,101
Anthony M Bladen	FORMER CHIEF OPERATING OFFICER	0.0		$0	$2,494	$734,364
Melissa Hall	FORMER VP CLINICAL SERVICES CHIEF NURSING OFFICER	1.0		$0	$3,826	$176,903

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	$33,101,945	$37,956,207	$133,698,414	$-4,854,262
2024	No data	No data	No data	No data
2023	$25,294,908	$26,599,805	$124,682,066	$-1,304,897
2022	$26,202,582	$25,767,209	$120,803,718	$435,373
2021	$23,125,484	$23,357,347	$134,464,089	$-231,863
2020	$19,293,943	$19,996,267	$111,095,693	$-702,324
2019	$21,904,385	$23,661,588	$111,116,936	$-1,757,203
2018	$31,456,581	$22,701,703	$133,522,656	$8,754,878

Calvert Health System Inc