Carilion Franklin Memorial Hospital

EIN: 540480606 501(c)(3) Health Care

Roanoke, VA

Total Revenue
$97,004,107
Total Expenses
$80,444,451
Total Assets
$56,375,322
Net Assets
$36,377,875
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1956
Legal Domicile
VA
Phone
5402245102
Tax Period
2023-10-01 to 2024-09-30

Carilion Franklin Memorial Hospital, founded in 1956, is a mid-sized nonprofit in the Health Care sector that reported $97.0M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $16.6M, a strong 17% operating margin.

Mission

Our mission is to improve the health of the communities we serve through our commitment to a common purpose of better patient care, better community health, and lower cost.

Program Service Accomplishments

Program 1
Expenses: $66,998,390 Revenue: $95,732,561

Carilion Franklin Memorial Hospital (CFMH), part of Carilion Clinic, is a not-for-profit healthcare organization committed to improving health outcomes for every patient while advancing the quality...

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Carilion Franklin Memorial Hospital (CFMH), part of Carilion Clinic, is a not-for-profit healthcare organization committed to improving health outcomes for every patient while advancing the quality of care in the community it serves. Located in Rocky Mount, VA, this 37-bed hospital offers a wide range of medical and surgical services, including convenient outpatient and emergency department services. Carilion Franklin Memorial Hospital exists to serve the health care needs of its community, regardless of a patient's ability to pay. The hospital admitted 1,866 patients and provided 6,683 days of care during the year. Hospital programs include the provision of nursing care, extensive outpatient and inpatient surgical and endoscopic services, and diagnostic imaging services including CT, MRI, mammography and nuclear medicine. CFMH provides several services targeting the specific health needs of its population, including diabetes management, home health and hospice, physical, speech, and occupational therapy programs, plastics & reconstructive surgery, ENT, and cardiac and respiratory rehab. A desk area at the hospital's medical office building is staffed by volunteers who welcome patients and visitors. CFMH also provides an emergency department with 24-hour care, emergency transportation, and STEMI and stroke programs. With 21,564 visits, CFMH's emergency services are a critical component of the health safety net in its service area. It acts as a primary health provider for a significant number of uninsured patients, who comprise 6 percent of ED visits. CFMH also supports community screenings and education on chronic disease prevention and management. In furtherance of its mission, CFMH provides extensive uncompensated care and community support. Stated at cost, nearly $1.5 million in financial assistance and other community benefits were provided.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $27,101
Program Service Revenue $95,723,320
Investment Income $973,023
Other Revenue $280,663
TOTAL REVENUE $97,004,107

Expense Breakdown

Grants Paid $61,900
Salaries & Benefits $29,586,446
Fundraising Expenses $0
Program Expenses $66,998,390
Other Expenses $50,796,105
TOTAL EXPENSES $80,444,451

Year-over-Year Comparison

2023 2022 Change
Revenue $97,004,107 $82,260,724 +0.2%
Expenses $80,444,451 $72,525,268 +0.1%
Net Income $16,559,656 $9,735,456 +0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
5
Employees
624
Volunteers
27

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
8
$3,470,838
Total Directors
11
$2,616,108
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Carl Cline Jr Dir./Sec./Treas./Hospital VP 50.0
Officer Director
$223,091 $109,940 $333,031
Victoria Gardner Director/Vice Chair 1.2
Officer Director
$0 $0 $768
William Kingery Jr Director / Chair 2.5
Officer Director
$0 $0 $10,250
Barbara Jackman Director 1.2
Director
$0 $0 $0
Dave Peters Director 1.2
Director
$0 $0 $768
Katherine Goff PhD Director 1.2
Director
$0 $0 $0
Sarah Stubbs MD Director 1.2
Director
$0 $13,628 $227,481
Shannon Moore Director 1.2
Director
$0 $26,909 $66,830
Stephanie Lareau MD Director 1.2
Director
$0 $6,961 $356,690
Steven Arner Director/COO, Carilion Clinic 2.0
Director
$0 $209,618 $1,619,810
W Mark Church PhD Director 1.2
Director
$0 $0 $480
Donald Halliwill Asst. Treasurer 0.5
Officer
$0 $167,911 $1,287,159
G Robert Vaughan Jr Asst. Treasurer 0.5
Officer
$0 $71,002 $529,010
J Harrison Lapuasa Asst. Treasurer 0.5
Officer
$0 $-1,202 $32,907
Julie Smith-Hamilton Asst. Secretary 0.5
Officer
$0 $18,375 $79,103
Nicholas Conte Asst. Secretary 1.0
Officer
$0 $174,893 $1,198,610
Donn Bergman Physical Therapist 40.0
Highest
$133,731 $41,045 $174,776
Kristin Brandenberger Pharmacist 49.5
Highest
$122,228 $23,031 $155,829
Lori McClure Pharmacy Manager 40.0
Highest
$182,957 $1,140 $184,097
Shirley Landon-King Occupational Therapist 39.0
Highest
$140,196 $-7,891 $132,955
Tracy McCown Nursing Director 40.0
Highest
$135,180 $26,955 $162,135
David Hagadorn Former Officer 0.0
$0 $25,072 $184,176
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 $97,004,107 $80,444,451 $56,375,322 $16,559,656
2023 $82,260,724 $72,525,268 $52,574,219 $9,735,456
2022 $70,034,301 $66,879,616 $45,660,792 $3,154,685
2021 $61,896,719 $56,430,791 $40,621,973 $5,465,928
2020 $53,453,560 $48,686,012 $34,418,043 $4,767,548
2020 $53,453,560 $48,686,012 $34,418,043 $4,767,548
2019 $52,532,680 $47,558,836 $28,015,851 $4,973,844
2018 $48,613,274 $46,770,114 $20,888,634 $1,843,160
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