WILLIAMSBURG REGIONAL HOSPITAL

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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

2002

Legal Domicile

Principal Officer

ALLEN ABERNETHY

Phone

8433558888

Tax Period

2022-10-01 to 2023-09-30

WILLIAMSBURG REGIONAL HOSPITAL, founded in 2002, is a community nonprofit in the Health Care sector that reported $6.7M in total revenue in fiscal year 2022. Revenue fell 73% from the prior year — a significant decline worth monitoring. Expenses of $15.1M exceeded revenue, resulting in a 125% operating deficit.

Mission

WILLIAMSBURG REGIONAL HOSPITAL IS A NOT FOR PROFIT ACUTE CARE HOSPITAL WITH 25 LICENSED BEDS, PROVIDING EXCELLENCE IN PATIENT CARE IN AN ENVIRONMENT THAT IS RESPECTFUL OF OTHERS, ADAPTIVE TO CHANGE, ACCOUNTABLE FOR OUTCOMES, AND ATTENTIVE TO THE NEEDS OF THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $15,062,551 Revenue: $6,080,564

WILLIAMSBURG REGIONAL HOSPITAL IS AN ACUTE CARE HOSPITAL IN KINGSTREE, SOUTH CAROLINA. THE GOAL OF THE HOSPITAL IS TO DELIVER THE BEST HEALTHCARE AVAILABLE TO THE RESIDENTS OF WILLIAMSBURG COUNTY AND THE SURROUNDING AREA AS WE SEEK TO MAKE THE COMMUNITY HEALTHIER. THE HOSPITAL'S MISSION IS TO PROVIDE EXCELLENCE IN PATIENT CARE IN AN ENVIRONMENT THAT IS RESPECTFUL OF OTHERS, ADAPTAVE TO CHANGE, ACCOUNTABLE FOR OUTCOMES, AND ATTENTIVE TO THE NEEDS OF THE COMMUNITY. WE TREAT OUR PATIENTS AS WE WOULD OUR FAMILIES; VISITORS AND FELLOW EMPLOYEES AS WE WOULD OUR FRIENDS; THE COMMUNITY AS OUR PARTNER; AND OUR HOSPITAL AS WE WOULD OUR HOME. CONTINUED ON SCHEDULE OWILLIAMSBURG REGIONAL HOSPITAL PROVIDES EXCELLENCE IN PATIENT CARE IN AN ENVIRONMENT THAT IS RESPECTFUL OF OTHERS, ADAPTIVE TO CHANGE, ACCOUNTABLE FOR OUTCOMES, AND IS ATTENTIVE TO THE NEEDS OF THE COMMUNITY. THE HOSPITAL PROVIDES AN ARRAY OF SERVICES, INCLUDING PAIN MANAGEMENT, SURGICAL SERVICES, LABORATORY, SLEEP LAB, RADIOLOGY, MAMMOGRAPHY, INTENSIVE CARE, MEDICAL/SURGICAL INPATIENT CARE, STROKE CARE, WOUND CARE, GYNECOLOGY, OPERATION OF A RURAL HEALTH CENTER, PHYSICAL THERAPY, NEPHROLOGY, EMERGENCY SERVICES, AND CARDIOLOGY SERVICES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $624,425

Program Service Revenue $6,080,564

Investment Income $0

Other Revenue $0

TOTAL REVENUE $6,704,989

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,748,093

Fundraising Expenses $0

Program Expenses $15,062,551

Other Expenses $11,314,458

TOTAL EXPENSES $15,062,551

Year-over-Year Comparison

	2022	2021	Change
Revenue	$6,704,989	$24,718,437	-0.7%
Expenses	$15,062,551	$25,478,892	-0.4%
Net Income	$-8,357,562	$-760,455	+10.0%

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

177

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

$547,946

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR JIM CHERRY	SECRETARY	1.00	Officer Director	$0	$0	$0
MRS JULIE FLOYD	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
MR FRANK BRADLEY ERWIN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MRS MANDY SHULER	BOARD MEMBER	1.00	Director	$0	$0	$0
MS JENNIFER MCKNIGHT	BOARD MEMBER	1.00	Director	$0	$0	$0
MR WILLIAM JENKINSON	BOARD MEMBER	1.00	Director	$0	$0	$0
DR TIFFANY WRIGHT	BOARD MEMBER	1.00	Director	$0	$0	$0
DR JOSEPH ASARO	CHIEF OF STAFF	40.00	Officer	$0	$0	$0
DR TROY GAMBLE JR	CMO (THRU 11/22)	40.00	Officer	$250,814	$6,826	$257,640
MR DAN HARRINGTON	COO	40.00	Officer	$89,491	$1,316	$90,807
MRS ROBIN COOPER	CNO (THRU 1/23)	40.00	Officer	$75,211	$5,415	$80,626
MR DOUGLAS BROACH	CFO	40.00	Officer	$117,727	$1,146	$118,873

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
2023	$6,704,989	$15,062,551	$3,238,780	$-8,357,562
2022	$24,718,437	$25,478,892	$14,810,081	$-760,455
2021	$27,828,977	$25,250,069	$26,856,088	$2,578,908
2020	$26,309,762	$23,323,804	$27,744,922	$2,985,958
2019	$19,159,286	$25,017,664	$21,128,739	$-5,858,378
2018	$24,606,026	$26,745,709	$28,548,477	$-2,139,683