MEMORIAL HEALTH SYSTEMS INC (EIN 590973502) - Form 990 Financial Analysis & Trantor Score

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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

1961

Legal Domicile

Principal Officer

DAVID WEIS

Phone

3862316000

Tax Period

2023-01-01 to 2023-12-31

MEMORIAL HEALTH SYSTEMS INC, founded in 1961, is a major nonprofit in the Health Care sector that reported $665.9M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $604.3M left a modest 9% surplus.

Mission

MEDICAL CARE TO THE COMMUNITY THROUGH THE OPERATION OF A HOSPITAL WITH A TOTAL OF 362 BEDS.

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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 $3,142,968

Program Service Revenue $660,394,347

Investment Income $2,398,831

Other Revenue $0

TOTAL REVENUE $665,936,146

Expense Breakdown

Grants Paid $984,760

Salaries & Benefits $155,079,397

Fundraising Expenses $0

Program Expenses $561,115,050

Other Expenses $448,265,196

TOTAL EXPENSES $604,329,353

Year-over-Year Comparison

	2023	2022	Change
Revenue	$665,936,146	$543,759,757	+0.2%
Expenses	$604,329,353	$543,958,755	+0.1%
Net Income	$61,606,793	$-198,998	-310.6%

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

4111

Volunteers

119

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

$3,060,979

Total Directors

$10,178,699

Key Employees

$1,755,073

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAMS JOHN	DIRECTOR	0.12	Director	$250	$0	$250
AROCHO MD JAMES	DIRECTOR	0.19	Director	$250	$0	$250
BURT DAVID	DIRECTOR	0.19	Director	$250	$0	$250
CEBALLOS GLORIA	DIRECTOR (BEG 8/23)	0.12	Director	$250	$0	$250
CLARE PAUL	DIRECTOR (END 8/23)	0.08	Director	$0	$0	$0
DAVIS BRENT	DIR/CFO CFD NORTH REG(END 2/23)	13.69	Director	$0	$158,702	$884,687
DAWSON MELINDA	DIRECTOR	0.19	Director	$250	$0	$250
DESAI MD METEESH	DIRECTOR	0.15	Director	$250	$0	$250
DESAI MD SURESH	DIRECTOR	0.15	Director	$0	$18,009	$662,484
FERGUSON JOHN	DIRECTOR	0.15	Director	$250	$0	$250
GOODMAN TODD	DIR/AH CEN FL DIV CFO	0.15	Director	$0	$187,885	$1,783,370
GREGORY PHD AUDREY	DIR/CHAIR/FL EAST DIVISION CEO	13.69	Officer Director	$0	$229,438	$1,716,377
HAFFNER PHD RANDALL	DIRECTOR	0.20	Director	$0	$205,401	$2,651,112
HERNANDEZ MD DENNIS	DIRECTOR	0.23	Director	$0	$85,592	$663,307
HOOPER ANDREA	DIRECTOR (BEG 8/23)	0.12	Director	$250	$0	$250
MARONEY PHILIP	DIRECTOR	0.23	Director	$250	$0	$250
PATEL MD KETUL	DIRECTOR/CHIEF OF STAFF (BEG 4/23)	3.05	Director	$22,250	$0	$22,250
SCHATZ JR EDDIE	DIRECTOR (END 10/23)	0.20	Director	$0	$0	$0
THOMAS DEBORA	DIRECTOR	13.69	Director	$0	$108,500	$980,815
WEIS DAVID	CEO - HOSPITAL	45.00	Officer Director	$0	$117,174	$812,047
DOMAYER CORY	CFO - HOSPITAL FACILITY	45.00	Officer	$0	$99,666	$532,555
KABANUK JAMIE	CNO-HOSPITAL FACILITY	50.00	Key Emp	$0	$27,615	$341,519
SINCLAIR MD DAVID	CMO-HOSPITAL FACILITY (BEG 5/23)	50.00	Key Emp	$0	$118,215	$715,926
SMITH MD C JOE	CMO-HOSPITAL FACILITY (END 2/23)	50.00	Key Emp	$0	$2,582	$276,612
TKACHUCK DERRIK	COO-HOSPITAL FACIITY	50.00	Key Emp	$0	$50,401	$421,016
BROWN MD DOUGLAS	AHDB PHYSICIAN ADVISOR	50.00	Highest	$336,299	$46,185	$382,484
COLLINS WILLIAM	AHDB SENIOR MEDICAL PHYSICIST & THERAPY	50.00	Highest	$290,447	$33,968	$324,415
DORR JOHN	AHDB CHIEF PHYSICIST	50.00	Highest	$275,085	$47,409	$322,494
DOSWELL GARY	SENIOR MED PHYSICIST THERAPY	50.00	Highest	$285,749	$36,937	$322,686
ROYTAPASH KUMAR	SENIOR MED PHYSICIST THERAPY	50.00	Highest	$268,847	$49,451	$318,298
NOSEWORTHY ED	FORMER OFFICER	0.00		$0	$0	$52,235
OTTATI DAVID	FORMER OFFICER	0.00		$0	$214,123	$2,195,971
CHAPMAN CULLY	FORMER OFFICER	0.00		$0	$81,742	$565,099
CELANO PATRICIA	FORMER KEY EMPLOYEE	0.00		$0	$142,301	$1,295,567
GOEB-BURKETT MICHELE	FORMER KEY EMPLOYEE	14.00		$0	$72,517	$514,530
LUNDE ERIC	FORMER KEY EMPLOYEE	0.00		$0	$109,533	$593,058

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	$665,936,146	$604,329,353	$663,451,885	$61,606,793
2022	$543,759,757	$543,958,755	$557,347,310	$-198,998
2021	$526,048,604	$487,877,213	$611,778,295	$38,171,391
2020	$441,932,450	$415,926,700	$577,707,316	$26,005,750
2019	$424,074,885	$384,672,038	$537,666,640	$39,402,847
2018	$387,793,833	$359,401,205	$483,170,237	$28,392,628

MEMORIAL HEALTH SYSTEMS INC