Carilion Clinic (EIN 541190771) - 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

1981

Legal Domicile

Phone

5402245102

Tax Period

2023-10-01 to 2024-09-30

CARILION CLINIC, founded in 1981, is a mid-sized nonprofit in the Health Care sector that reported $37.3M in total revenue in fiscal year 2017. The organization ran a surplus of $8.6M, a strong 23% 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.

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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 $258,407

Program Service Revenue $39,214,648

Investment Income $1,487,349

Other Revenue $1,516,235

TOTAL REVENUE $42,476,639

Expense Breakdown

Grants Paid $0

Salaries & Benefits $218,067

Fundraising Expenses $0

Program Expenses $38,679,536

Other Expenses $41,035,717

TOTAL EXPENSES $41,253,784

Year-over-Year Comparison

	2023	2022	Change
Revenue	$42,476,639	$34,848,444	+0.2%
Expenses	$41,253,784	$40,085,436	+0.0%
Net Income	$1,222,855	$-5,236,992	-1.2%

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

$10,082,422

Total Directors

$4,417,956

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James Hartley	Director/Chair	7.0	Officer Director	$30,000	$0	$30,000
Nancy Howell Agee	Director/CEO	8.0	Officer Director	$0	$1,792	$3,832,497
Abney Boxley III	Director	4.5	Director	$14,773	$0	$14,773
Damon Williams	Director	4.5	Director	$10,748	$0	$10,748
Danielle Yarber	Director	4.5	Director	$14,873	$0	$14,873
Elizabeth McClanahan	Director	2.4	Director	$12,565	$0	$12,565
Garry Norris	Director	2.4	Director	$13,375	$0	$13,375
J Alexander Boone	Director	4.5	Director	$15,498	$0	$15,498
James C Thompson	Director	2.4	Director	$10,250	$0	$10,250
James Williams Jr	Director	2.4	Director	$10,250	$0	$10,250
Jason Bingham	Director	2.4	Director	$13,375	$0	$13,375
Jeri Lantz MD	Director	2.4	Director	$0	$51,952	$340,095
John Bond	Director	4.5	Director	$13,750	$0	$13,750
Joseph Scartelli PhD	Director	2.4	Director	$11,875	$0	$11,875
Joseph Sheffey	Director	2.4	Director	$9,000	$0	$9,000
Lisa Goldstein	Director	2.4	Director	$12,125	$0	$12,125
Mark Pace	Director	2.4	Director	$8,375	$0	$8,375
Neil Wilkin Jr	Director	4.5	Director	$25,282	$0	$25,282
Terry Austin	Director	2.4	Director	$9,000	$0	$9,000
William Farrell II	Director	2.4	Director	$0	$0	$0
William Kingery Jr	Director	2.4	Director	$10,250	$0	$10,250
Daniel Harrington MD	Interim Chief Medical Officer/EVP	2.0	Officer	$0	$2,444	$332,683
Donald Halliwill	Asst. Treasurer/CFO/EVP	4.0	Officer	$0	$167,911	$1,287,159
G Robert Vaughan Jr	Treasurer / SVP	2.0	Officer	$0	$71,002	$529,010
J Harrison Lapuasa	Asst. Treasurer	0.5	Officer	$0	$-1,202	$32,907
Jeanne Armentrout	Chief Administrative Officer/EVP	4.0	Officer	$0	$47,026	$1,140,643
Julie Smith-Hamilton	Asst. Secretary	0.5	Officer	$0	$18,375	$79,103
Nicholas Conte	Secretary/EVP/Chief Legal Officer	6.0	Officer	$0	$174,893	$1,198,610
R Tony Seupaul MD	EVP Chief Physician Executive	0.5	Officer	$0	$0	$0
Steven Arner	President, COO	4.0	Officer	$0	$209,618	$1,619,810
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	$42,476,639	$41,253,784	$268,784,583	$1,222,855
2023	$34,848,444	$40,085,436	$276,170,742	$-5,236,992
2022	$43,344,758	$36,369,857	$277,918,782	$6,974,901
2021	$39,438,781	$33,716,489	$281,656,126	$5,722,292
2020	$46,852,831	$31,192,551	$241,576,417	$15,660,280
2019	$42,773,392	$28,447,524	$232,077,897	$14,325,868
2018	$37,323,120	$28,723,516	$226,809,347	$8,599,604

Carilion Clinic