Adventist Health SystemSunbelt Inc

EIN: 591479658 501(c)(3) Health Care

Altamonte Springs, FL

Total Revenue
$6,252,705,895
Total Expenses
$5,809,231,036
Total Assets
$11,012,939,296
Net Assets
$6,030,562,565
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
FL
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

Operation of 11 acute-care hospitals & related healthcare 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%)

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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

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Governance

Voting Members
22
Independent Members
15
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
3
$11,037,225
Total Directors
29
$5,961,184
Key Employees
12
$13,365,179
Highest Compensated
5
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
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