HALIFAX REGIONAL MEDICAL CENTER INC

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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

1972

Legal Domicile

Principal Officer

WILL MAHONE

Phone

2525358011

Tax Period

2018-10-01 to 2019-09-30

HALIFAX REGIONAL MEDICAL CENTER INC, founded in 1972, is a major nonprofit in the Health Care sector that reported $101.7M in total revenue in fiscal year 2018. Revenue decreased 8% compared to the prior year.

Mission

TO IMPROVE THE HEALTH AND WELL-BEING OF EASTERN NORTH CAROLINA.

Program Service Accomplishments

Program 1

Expenses: $93,741,374 Revenue: $101,745,912

COMPLETED DUE DILIGENCE REQUIREMENTS AND TRANSACTIONS NECESSARY TO MERGE WITH VIDANT HEALTH AS OF JUNE 1, 2019.STROKE PROGRAM IMPLEMENTED.GENERAL SURGEON WAS RECRUITED.ALL COMPUTER SYSTEMS WERE...

COMPLETED DUE DILIGENCE REQUIREMENTS AND TRANSACTIONS NECESSARY TO MERGE WITH VIDANT HEALTH AS OF JUNE 1, 2019.STROKE PROGRAM IMPLEMENTED.GENERAL SURGEON WAS RECRUITED.ALL COMPUTER SYSTEMS WERE EVALUATED FOR THE VIDANT MERGER AND IMPLEMENTATION OF THE EPIC SYSTEM.GENERATOR REPLACEMENT PROJECT STARTED.REDESIGN OF PSYCH BEHAVIORAL HEALTH UNIT.ACCREDITATION FOR SLEEP LAB AND HOME SLEEP TESTING.PHARMACY CERTIFIED FOR NEW USP 800 STANDARDS.JOINT CARE CENTER WAS RECERTIFIED BY THE JOINT COMMISSION FOR HIP AND KNEE REPLACEMENT PROGRAMS. RURAL HEALTH CENTER CONSTRUCTION WAS COMPLETED ON HRMC CAMPUS.IMPLEMENTED NEW PROCESS FOR USING EMT TRAINED STAFF FOR EMERGENCY PATIENT CARE.NURSE RESIDENCY PROGRAM WAS INITIATED WITH COMMUNITY COLLEGES.HRMC NURSE RECOGNIZED AS ONE OF THE STATE'S GREAT 100 NURSES.340B AUDIT WAS COMPLETED FOR PHARMACY.

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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 (2018)

Revenue Breakdown

Contributions & Grants $174,864

Program Service Revenue $101,745,912

Investment Income $-256,734

Other Revenue $11,060

TOTAL REVENUE $101,675,102

Expense Breakdown

Grants Paid $0

Salaries & Benefits $44,758,646

Fundraising Expenses $0

Program Expenses $93,741,374

Other Expenses $59,832,019

TOTAL EXPENSES $104,590,665

Year-over-Year Comparison

	2018	2017	Change
Revenue	$101,675,102	$110,444,886	-0.1%
Expenses	$104,590,665	$104,688,235	0.0%
Net Income	$-2,915,563	$5,756,651	-1.5%

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

Employees

986

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

$372,286

Total Directors

$24,610

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM MAHONE	CEO	40.00	Officer Director	$0	$0	$0
FANNIE GREENE	CHAIRWOMAN	1.00	Director	$2,100	$0	$2,100
DR NATARAJAN RAJAN	MEMBER	1.00	Director	$1,450	$0	$1,450
EVELYN DAWSON	MEMBER	1.00	Director	$1,250	$0	$1,250
TOM LYNCH	MEMBER	1.00	Director	$2,100	$0	$2,100
DR LORENZO SANTARINA	MEMBER	1.00	Director	$100	$0	$100
DR JOEY THOMAS	MEMBER	1.00	Director	$10,760	$0	$10,760
BOB PATTERSON	MEMBER	1.00	Director	$1,700	$0	$1,700
VERNON BRYANT	MEMBER	1.00	Director	$700	$0	$700
HUGH BAZEMORE	MEMBER	1.00	Director	$1,650	$0	$1,650
JOHNNY DRAPER	MEMBER	1.00	Director	$700	$0	$700
JAMES PIERCE	MEMBER	1.00	Director	$650	$0	$650
WILLIAM HODGE	MEMBER	1.00	Director	$950	$0	$950
REV RANDY MARTIN	MEMBER	1.00	Director	$500	$0	$500
SHERRY JENSEN	CFO	40.00	Officer	$286,286	$86,000	$372,286
JASON HARRELL	COO	40.00	Officer	$0	$0	$0
STEVEN HILL	CRNA	40.00	Highest	$223,176	$44,854	$268,030
BRIAN SOMMER	CRNA	40.00	Highest	$219,524	$36,906	$256,430
STEVEN ULSAS	CRNA	40.00	Highest	$212,151	$49,000	$261,151
KENNETH HARTZ	CRNA	40.00	Highest	$210,341	$49,000	$259,341
CLAUDE DIETTRICH	CRNA	40.00	Highest	$206,607	$46,584	$253,191
KAREN DANIELS	CNO	40.00		$126,366	$30,926	$157,292

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
2019	$101,675,102	$104,590,665	$82,510,666	$-2,915,563
2018	$110,444,886	$104,688,235	$96,800,365	$5,756,651