Carilion Franklin Memorial Hospital (EIN 540480606) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

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 $48.6M in total revenue in fiscal year 2017. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $46.8M left a modest 4% surplus.

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.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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

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

624

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

$3,470,838

Total Directors

$2,616,108

Key Employees

Highest Compensated

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

Carilion Franklin Memorial Hospital