SENTARA MEDICAL GROUP

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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

1982

Legal Domicile

Principal Officer

MEGAN R PERRY

Phone

7574557020

Tax Period

2023-01-01 to 2023-12-31

SENTARA MEDICAL GROUP, founded in 1982, is a major nonprofit in the Health Care sector that reported $381.4M in total revenue in fiscal year 2023. Expenses of $421.8M exceeded revenue, resulting in a 11% operating deficit.

Mission

AS PART OF SENTARA HEALTH'S INTEGRATED HEALTH CARE SYSTEM, WE IMPROVE HEALTH EVERY DAY THROUGH THE ESTABLISHMENT AND OPERATION OF PROGRAMS AND SERVICES FOR THE PROVISION OF HEALTH CARE AND FOR HEALTH RELATED PURPOSES; THE PROMOTION AND ADVANCEMENT OF THE WELFARE AND SOCIAL, CULTURAL, EDUCATIONAL AND ECONOMIC DEVELOPMENT OF THE COMMUNITY; AND THE PROVISION OF HEALTH RELATED COMMUNITY EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $317,247,642 Revenue: $372,377,714

SENTARA MEDICAL GROUP (SMG) IS A 568 PROVIDER AND 442 ADVANCED PRACTICE CLINICIAN MULTI SPECIALTY MEDICAL GROUP. IN 2023, SMG PHYSICIANS CARED FOR 2,168,300 PATIENT VISITS. THE COST OF UNCOMPENSATED PATIENT CARE PROVIDED TO THE COMMUNITY BY SENTARA MEDICAL GROUP IN 2023 WAS OVER $10 MILLION. ALL SERVICES ARE PROVIDED TO THE COMMUNITY REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE OR ABILITY TO PAY.SEE SCHEDULE O FOR A DESCRIPTION OF PROGRAMS AND ACCOMPLISHMENTS OF THE SENTARA HEALTH SYSTEM FOR 2023.

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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 (2023)

Revenue Breakdown

Contributions & Grants $216,652

Program Service Revenue $380,452,541

Investment Income $-25,167

Other Revenue $791,218

TOTAL REVENUE $381,435,244

Expense Breakdown

Grants Paid $7,192,999

Salaries & Benefits $444,650,475

Fundraising Expenses $0

Program Expenses $317,247,642

Other Expenses $-30,064,062

TOTAL EXPENSES $421,779,412

Year-over-Year Comparison

	2023	2022	Change
Revenue	$381,435,244	$363,417,405	+0.0%
Expenses	$421,779,412	$389,609,199	+0.1%
Net Income	$-40,344,168	$-26,191,794	+0.5%

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

N/A

Employees

2128

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

$5,901,790

Total Directors

$25,908,604

Key Employees

$3,384,040

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL COHEN MD	DIRECTOR/CHAIR	40.00	Officer Director	$395,808	$80,562	$476,370
KURT T HOFELICH	DIRECTOR/COO	40.00	Officer Director	$655,399	$170,020	$825,419
SCOTT ROBERTSON MD	DIRECTOR/VICE CHAIR	40.00	Officer Director	$864,283	$96,286	$960,569
MEGAN R PERRY	DIRECTOR/INTERIM PRESIDENT (EFF 5/23)	1.00	Officer Director	$0	$186,150	$1,793,140
ANTHONY MANIGLIA MD	DIRECTOR	40.00	Director	$169,273	$54,058	$223,331
COLIN DROZDOWSKI	DIRECTOR	1.00	Director	$0	$197,193	$1,711,423
DEEPAK TALREJA MD	DIRECTOR	40.00	Director	$1,046,222	$58,182	$1,104,404
DENNIS A MATHEIS	DIRECTOR	1.00	Director	$0	$84,854	$5,808,561
FOUZIA SIDDIQUI MD	DIRECTOR	1.00	Director	$0	$72,149	$769,154
GWENDOLYN WILLIAMS MD	DIRECTOR	40.00	Director	$331,678	$63,539	$395,217
JOHN HALL MD	DIRECTOR	1.00	Director	$0	$84,347	$703,905
JORDAN R ASHER MD	DIRECTOR, EX-OFFICIO WITH VOTE	1.00	Director	$0	$224,633	$2,294,149
KEVIN MCCONNELL MD	DIRECTOR	1.00	Director	$0	$77,579	$574,380
MICHAEL V GENTRY	DIRECTOR (THROUGH 5/23)	1.00	Director	$0	$78,055	$2,220,921
ROBERT LANCEY MD	DIRECTOR	1.00	Director	$0	$58,436	$892,926
SAMUEL STEERMAN MD	DIRECTOR	40.00	Director	$687,503	$77,095	$764,598
STEPHANIE ZEIBER PA	DIRECTOR	40.00	Director	$166,128	$45,443	$211,571
TARKTEN PHARR MD	DIRECTOR	1.00	Director	$0	$94,387	$642,749
ANIMESH RATHORE MD	DIRECTOR	40.00	Director	$656,211	$44,526	$700,737
DAVID WALLACE MD	DIRECTOR	40.00	Director	$301,012	$21,039	$322,051
JOSEPH GRESENS	DIRECTOR	40.00	Director	$701,037	$23,398	$724,435
LEYLA SAHIBZADA MD	DIRECTOR	40.00	Director	$322,181	$57,450	$379,631
NICCOLE SNYDER PA	DIRECTOR	40.00	Director	$183,920	$22,697	$206,617
TED KUBICKI MD	DIRECTOR	40.00	Director	$427,754	$131,022	$558,776
THOMAS GEDDINGS MD	DIRECTOR	0.00	Director	$0	$81,701	$643,570
EARL J BARNES II	SECRETARY	1.00	Officer	$0	$143,768	$1,238,374
VIKKI CHARLES	TREASURER	1.00	Officer	$0	$97,240	$607,918
DAN DICKINSON MD	KE (VP)	40.00	Key Emp	$620,700	$228,175	$848,875
FLETCHER PIERCE MD	KE (VP MEDICAL OPERATIONS)	40.00	Key Emp	$644,304	$95,783	$740,087
STEPHEN CRAIG	KE (VP, BUSINESS OPERATIONS)	40.00	Key Emp	$446,892	$59,047	$505,939
STEVEN D PEARMAN MD	KE (VP MEDICAL OPERATIONS)	40.00	Key Emp	$642,012	$113,039	$755,051
JUDY WALKER	KE (VP, BUSINESS OPERATIONS)	40.00	Key Emp	$485,211	$48,877	$534,088
DANA E ADKINS MD	PHYSICIAN	40.00	Highest	$1,208,461	$75,698	$1,284,159
RONALD STINE MD	PHYSICIAN	40.00	Highest	$827,952	$37,952	$865,904
SHANNON CLARK	PHYSICIAN	40.00	Highest	$1,244,565	$59,642	$1,304,207
WILSON P DAUGHERTY MD	PHYSICIAN	40.00	Highest	$1,199,174	$77,332	$1,276,506
WYLIE H ZHU MD	PHYSICIAN	40.00	Highest	$1,264,471	$86,770	$1,351,241
BOGDAN L NEUGHEBAUER MD	FORMER OFFICER	0.00		$0	$110,423	$607,381
ROBERT A BROERMANN	FORMER OFFICER	0.00		$0	$135,907	$2,809,597
STEPHANIE K SCHNITTGER	FORMER OFFICER	0.00		$0	$66,973	$682,319
ARTHUR D JAMES	FORMER OFFICER/DIRECTOR	40.00		$515,247	$45,474	$1,193,758

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	No data	No data	No data	No data
2023	$381,435,244	$421,779,412	$105,566,792	$-40,344,168
2022	$363,417,405	$389,609,199	$76,851,294	$-26,191,794
2021	$348,030,080	$368,712,101	$91,783,431	$-20,682,021
2020	$289,920,574	$312,114,117	$92,135,582	$-22,193,543
2019	$276,017,987	$277,604,004	$101,778,673	$-1,586,017
2018	$271,472,068	$272,979,282	$35,921,655	$-1,507,214