Adventist Health SystemSunbelt 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

1973

Legal Domicile

Principal Officer

Terry Shaw

Phone

4073572317

Tax Period

2022-01-01 to 2022-12-31

Adventist Health SystemSunbelt Inc, founded in 1973, is a large national nonprofit in the Health Care sector that reported $6.3B in total revenue in fiscal year 2022. Expenses of $5.8B left a modest 7% surplus.

Mission

Adventist Health System Sunbelt Healthcare Corporation and all its subsidiary organizations were established by the Seventh-Day Adventist Church to bring a ministry of healing and health to the communities served. Our mission is to extend the healing ministry of Christ. The hospital and healthcare system whose parent is Adventist Health System Sunbelt Healthcare Corporation is known as AdventHealth. AdventHealth seeks to be widely respected as a consumer-focused organization that engages individuals in their health by delivering wholistic, best practice care across a connected, comprehensive continuum of services. With Christ as our example, AdventHealth cares for and nurtures people: our employees, our communities, our healthcare professionals, and those who trust us for care and healing.

Program Service Accomplishments

Program 1

Expenses: $5,328,982,795 Revenue: $5,988,701,337

Operation of 11 acute care hospitals with 159,286 patient admissions, 900,829 patient days and 1,817,829 outpatient visits in the current year. In addition to hospital operations, the corporation...

Operation of 11 acute care hospitals with 159,286 patient admissions, 900,829 patient days and 1,817,829 outpatient visits in the current year. In addition to hospital operations, the corporation provides medical care through a number of other activities such as urgent care centers, physician clinics, home health services, hospice services, sleep centers, wound centers, therapy and rehab.

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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 $104,069,888

Program Service Revenue $6,021,551,256

Investment Income $128,778,123

Other Revenue $-1,693,372

TOTAL REVENUE $6,252,705,895

Expense Breakdown

Grants Paid $25,705,251

Salaries & Benefits $2,473,662,371

Fundraising Expenses $0

Program Expenses $5,328,982,795

Other Expenses $3,309,863,414

TOTAL EXPENSES $5,809,231,036

Year-over-Year Comparison

	2022	2021	Change
Revenue	$6,252,705,895	$5,907,306,351	+0.1%
Expenses	$5,809,231,036	$5,148,408,584	+0.1%
Net Income	$443,474,859	$758,897,767	-0.4%

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

36897

Volunteers

1539

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

$11,037,225

Total Directors

$5,961,184

Key Employees

$13,365,179

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Aguilera Ronald	Director (End 5/22)	1.00	Director	$0	$0	$6,088
Bernard Roger A	Director (End 9/22)	1.00	Director	$0	$0	$5,708
Bigalke John T	Director	1.00	Director	$0	$0	$37,511
Brooks Stephen	Director (Beg 9/22)	1.00	Director	$0	$0	$5,238
Cherry MD Robert A	Director	1.00	Director	$0	$0	$29,511
Craig Carlos J	Dir./Vice Chair/Secretary	1.00	Director	$0	$0	$5,417
Davidson James R	Director (End 9/22)	1.00	Director	$0	$0	$5,363
Denslow Kenneth	Dir./Vice Chair	2.00	Director	$0	$0	$5,692
Devore Susan D	Director	1.00	Director	$0	$0	$34,013
Freedman David	Director (Beg 9/22)	1.00	Director	$0	$0	$5,363
Gabriel Garth	Director (Beg 9/22)	1.00	Director	$0	$0	$5,088
Grys DMin MD John	Director (Beg 5/22)	1.00	Director	$0	$0	$5,013
Johnson Tidjani Michelle	Director	1.00	Director	$0	$0	$26,013
Machado Allan	Director	1.00	Director	$0	$0	$5,088
Morel Jr D Min Hubert J	Director (Beg 9/22)	1.00	Director	$0	$0	$5,238
Morgan William H	Director	1.00	Director	$0	$0	$0
Page John M	Director (End 9/22)	1.00	Director	$0	$0	$5,213
Ramirez Elden	Director (End 9/22)	1.00	Director	$0	$0	$5,363
Rustad Gary	Director (Beg 9/22)	1.00	Director	$0	$0	$6,913
Sauder PhD Vinita	Director	1.00	Director	$0	$0	$5,213
Scott Glynn CW	Director (Beg 9/22)	1.00	Director	$0	$0	$5,363
Shaw EdD Kenneth	Director	1.00	Director	$0	$0	$5,613
Shaw Terry D	Dir/President/AdventHealth CEO	1.00	Officer Director	$0	$955,707	$5,678,983
Smith DMin PhD Ron C	Director/Chairperson	2.00	Director	$0	$0	$5,542
Thurber Gary F	Director/Vice Chair	2.00	Director	$0	$0	$6,063
Thurber John Mic	Director (End 9/22)	1.00	Director	$0	$0	$5,088
Tikker Blair	Director	1.00	Director	$0	$0	$34,013
VandeVere David	Director (End 9/22)	1.00	Director	$0	$0	$5,888
Werner Thomas L	Director	1.00	Director	$0	$0	$5,585
Haffner PhD Randall	CEO Central FL Division	1.00	Officer	$0	$190,032	$2,610,276
Rathbun Paul C	AdventHealth CFO	1.00	Officer	$0	$211,956	$2,747,966
Adams Brian	CEO Central FL Div. South Region	50.00	Key Emp	$0	$182,815	$1,336,201
Cook Timothy	CEO AH Altamonte & Seminole Market	50.00	Key Emp	$0	$124,531	$822,433
Deininger Robert	CEO AH Orlando	50.00	Key Emp	$0	$140,188	$877,151
Finkler MD Neil	Chief Clinical Officer AH Central FL Div.	50.00	Key Emp	$0	$43,176	$1,268,478
Goodman Todd	CFO, AH Central FL Division	1.00	Key Emp	$0	$204,341	$2,027,198
Harcombe Douglas	CEO AH Celebration & South Market	50.00	Key Emp	$0	$132,260	$824,869
Hilliard Douglas	Sr Finance Officer AH Orlando	50.00	Key Emp	$0	$138,480	$1,144,938
Moorhead Sheryl	Chief People Off. AH Central FL Div.	50.00	Key Emp	$0	$35,912	$784,719
Thompson Michael	CEO IHS Central FL Div-South Region	40.00	Key Emp	$0	$146,845	$1,370,772
Vargas Karilynn	CEO AH Winter Garden & West Market	50.00	Key Emp	$0	$95,411	$671,700
Villanueva Jeffrey	CEO AH East Orlando & East Market	50.00	Key Emp	$0	$119,592	$1,434,484
Zbaraschuk Amy	Sr Fin Off. Central FL Div-South Region	40.00	Key Emp	$0	$122,000	$802,236
Accola MD Kevin	Phy/Exec Med Dir/Cardio Surgery & Structural Heart	50.00	Highest	$1,626,444	$35,524	$1,661,968
Bogar MD Linda	Physician - Heart Transplant	75.00	Highest	$1,434,928	$44,830	$1,479,758
Palmer MD George	Phy/AH Celebration Cardio Surgery	50.00	Highest	$1,416,890	$44,716	$1,461,606
Silvestry MD Scott	Phy/Dir AH Thoracic Transplant	85.00	Highest	$2,909,076	$47,861	$2,956,937
Zeeshan MD Ahmad	Physician - Heart Transplant	75.00	Highest	$1,458,296	$35,593	$1,493,889
Tol Daryl	Former SEVP/CEO Central FL Div	0.00		$0	$104	$792,136
Bradley Kenneth W	Former Key Emp/AH Dir Emerging Leader	0.00		$0	$34,267	$227,815
Moorhead MD David	Former EVP/Chief Clinical Officer	0.00		$0	$34,340	$1,769,015
Owen Terry R	Former SVP Partnering Strategy CFD	0.00		$0	$16,138	$321,697
Wandersleben Jennifer	Former CEO AH CFD So Acute Care S	0.00		$0	$170,444	$1,119,714

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	No data	No data	No data	No data
2022	$6,252,705,895	$5,809,231,036	$11,012,939,296	$443,474,859
2021	$5,907,306,351	$5,148,408,584	$11,276,131,812	$758,897,767
2020	$4,826,472,683	$4,450,231,883	$9,561,434,235	$376,240,800
2019	$4,693,907,348	$3,999,356,091	$8,921,698,765	$694,551,257
2018	$4,426,413,514	$3,876,266,167	$8,117,641,825	$550,147,347