Carilion Medical Center (EIN 540506332) - 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

1899

Legal Domicile

Phone

5402245102

Tax Period

2023-10-01 to 2024-09-30

CARILION MEDICAL CENTER, founded in 1899, is a large national nonprofit in the Health Care sector that reported $1.4B in total revenue in fiscal year 2017. Expenses of $1.3B 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 $10,677,232

Program Service Revenue $1,881,826,902

Investment Income $65,422,108

Other Revenue $25,536,306

TOTAL REVENUE $1,983,462,548

Expense Breakdown

Grants Paid $6,123,879

Salaries & Benefits $840,704,812

Fundraising Expenses $279,403

Program Expenses $1,646,234,721

Other Expenses $1,071,810,306

TOTAL EXPENSES $1,918,638,997

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,983,462,548	$1,742,822,940	+0.1%
Expenses	$1,918,638,997	$1,769,567,616	+0.1%
Net Income	$64,823,551	$-26,744,676	-3.4%

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

10319

Volunteers

301

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

$4,757,347

Total Directors

$3,780,549

Key Employees

$7,479,995

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Damon Williams	Director/Chair	2.0	Officer Director	$0	$0	$10,748
Steven Arner	Director/President/CEO	42.0	Officer Director	$0	$209,618	$1,619,810
Ann Hoff PhD	Director	2.0	Director	$0	$0	$1,123
Cathy Jo Swanson MD	Director / Chief of Medical Staff	2.0	Director	$90,000	$0	$90,000
Daniel Tershak MD	Director/Chief of Medical Staff	50.0	Director	$530,882	$31,520	$562,402
Isabel Thornton	Director	2.0	Director	$0	$0	$0
Jamie Greenawalt	Director	2.0	Director	$0	$0	$0
Janet Frantz	Director	2.0	Director	$0	$0	$1,123
Katherin Elam	Director	2.0	Director	$0	$0	$0
Kianna Price Marshall	Director	2.0	Director	$0	$0	$1,123
Lee Learman MD PhD	Director/Physician	4.6	Director	$8,655	$0	$8,655
Michael Nussbaum MD	Director/SVP/Surgical Services Chair	50.0	Director	$976,550	$41,513	$1,018,063
Paul Haskins MD	Director/Physician	50.0	Director	$382,001	$85,501	$467,502
Donald Halliwill	Asst. Treasurer	0.5	Officer	$0	$167,911	$1,287,159
G Robert Vaughan Jr	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	Secretary	3.0	Officer	$0	$174,893	$1,198,610
Daniel Harrington MD	Interim Chief Medical Officer/EVP	50.0	Key Emp	$0	$2,444	$332,683
John Jane MD	SVP, Chair Neurosurgery	50.0	Key Emp	$654,291	$72,718	$727,009
Jon Sweet MD	SVP/Chair, Dept. of Medicine	50.0	Key Emp	$596,807	$82,527	$679,334
Joseph Moskal MD	SVP/Chair, Dept. of Orthopedics	50.0	Key Emp	$1,421,697	$24,727	$1,446,424
Michael Abbott	Senior Vice President	50.0	Key Emp	$361,790	$100,258	$462,048
Nancy Howell Agee	CEO, Carilion Clinic	2.0	Key Emp	$0	$1,792	$3,832,497
Adeolu Olasunkanmi MD	Physician	50.0	Highest	$1,352,897	$21,026	$1,373,923
Cara Rogers MD	Physician	50.0	Highest	$1,111,647	$24,505	$1,136,152
Eric Marvin MD	Physician	50.0	Highest	$1,546,060	$20,234	$1,566,294
Gregory Howes MD	Physician	50.0	Highest	$1,476,712	$31,500	$1,508,212
Jonathan Carmouche MD	Physician	50.0	Highest	$1,620,383	$26,135	$1,646,518
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	$1,983,462,548	$1,918,638,997	$2,217,235,562	$64,823,551
2023	$1,742,822,940	$1,769,567,616	$1,989,095,314	$-26,744,676
2022	$1,707,278,174	$1,711,194,836	$1,949,690,459	$-3,916,662
2021	$1,763,656,748	$1,586,779,603	$2,196,887,752	$176,877,145
2020	$1,508,211,860	$1,403,447,594	$1,930,321,569	$104,764,266
2019	$1,489,550,023	$1,382,660,716	$1,528,858,933	$106,889,307
2018	$1,381,655,878	$1,319,983,975	$1,471,060,258	$61,671,903

Carilion Medical Center