Bethesda Hospital 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

1959

Legal Domicile

Phone

7866627000

Tax Period

2023-10-01 to 2024-09-30

Bethesda Hospital Inc, founded in 1959, is a major nonprofit in the Health Care sector that reported $519.5M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

AS PART OF THE BAPTIST HEALTH NETWORK, THE MISSION OF BETHESDA HOSPITAL IS TO IMPROVE THE HEALTH AND WELL-BEING OF INDIVIDUALS, AND TO PROMOTE THE SANCTITY AND PRESERVATION OF LIFE, IN THE COMMUNITIES WE SERVE. BAPTIST HEALTH IS A FAITH-BASED ORGANIZATION GUIDED BY THE SPIRIT OF JESUS CHRIST AND THE JUDEO-CHRISTIAN ETHIC. WE ARE COMMITTED TO MAINTAINING THE HIGHEST STANDARDS OF CLINICAL AND SERVICE EXCELLENCE, ENHANCED THROUGH TEACHING, RESEARCH AND INNOVATION, AND ROOTED IN THE UTMOST INTEGRITY AND MORAL PRACTICE. CONSISTENT WITH ITS SPIRITUAL FOUNDATION, BAPTIST HEALTH IS DEDICATED TO PROVIDING HIGH-QUALITY, COST-EFFECTIVE, COMPASSIONATE HEALTHCARE SERVICES TO ALL, REGARDLESS OF RELIGION, CREED, RACE OR NATIONAL ORIGIN, INCLUDING, AS PERMITTED BY ITS RESOURCES, CHARITY CARE TO THOSE IN NEED.

Program Service Accomplishments

Program 1

Expenses: $492,104,174 Revenue: $475,938,096

DURING 2023, THE INDIVIDUALS LISTED BELOW RECEIVED SEVERANCE PAYMENTS. SUCH AMOUNTS WERE TREATED AS TAXABLE COMPENSATION. - JOANNE AQUILINA: $320,000 - VICTOR M. OSPINA: $37,796 - MICHAEL P. SHIELDS...

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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 $912,350

Program Service Revenue $469,283,642

Investment Income $33,901,736

Other Revenue $15,386,834

TOTAL REVENUE $519,484,562

Expense Breakdown

Grants Paid $0

Salaries & Benefits $211,907,462

Fundraising Expenses $0

Program Expenses $492,104,174

Other Expenses $338,103,320

TOTAL EXPENSES $550,010,782

Year-over-Year Comparison

	2023	2022	Change
Revenue	$519,484,562	$417,756,065	+0.2%
Expenses	$550,010,782	$525,634,579	+0.0%
Net Income	$-30,526,220	$-107,878,514	-0.7%

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

2877

Volunteers

109

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

$1,527,976

Total Directors

Key Employees

$2,356,685

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
George T Elmore	Director	2.0	Officer Director	$0	$0	$0
Barbara B Lucas	Director	2.0	Director	$0	$0	$0
Calvin H Babcock	Director	2.0	Director	$0	$0	$0
Colleen Rhodd	Director	2.0	Director	$0	$0	$0
I Jeffrey Pheterson ESQ	Director	2.0	Director	$0	$0	$0
John Pasqual DMD	Director	2.0	Director	$0	$0	$0
Marie Bedner	Director	2.0	Director	$0	$0	$0
Michael Mccarthy	Director	2.0	Director	$0	$0	$0
Roberta Stokes	Director	2.0	Director	$0	$0	$0
Steven Litinsky MD MBA	Director	2.0	Director	$0	$0	$0
Jared Smith	CEO	44.0	Officer	$0	$53,103	$571,837
Keith M Nilsson	Regional VP of Finance	25.0	Officer	$0	$166,435	$956,139
Ana Machado Rosacker	VP Administration	50.0	Key Emp	$255,936	$62,094	$318,030
Joanne Aquilina	VP of Finance Operations - End 06/2023	50.0	Key Emp	$1,035,370	$37,194	$1,072,564
Keith J Foster	CMO - Beg 01/2023	50.0	Key Emp	$486,185	$130,648	$616,833
Tracy Jo Edelstein	VP Nursing - End 11/2023	50.0	Key Emp	$307,416	$41,842	$349,258
Dana Marschall	Patient Care Supervisor	45.0	Highest	$256,955	$31,144	$288,099
Joshua Jay Bailin	Medical Dir Care Mgmt	45.0	Highest	$251,778	$25,751	$277,529
Michael P Shields	AVP Operations	45.0	Highest	$194,715	$24,336	$219,051
Sharlene Lau	Director Pharmacy	45.0	Highest	$197,615	$36,617	$234,232
Victor M Ospina	AVP Patient Care Svcs - End 10/2023	45.0	Highest	$237,993	$22,001	$259,994
Nelson Lazo	Former CEO	0.0		$0	$16,231	$441,480
Roger Kirk	Former CEO	0.0		$386,123	$0	$386,123

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	$519,484,562	$550,010,782	$397,415,418	$-30,526,220
2023	$417,756,065	$525,634,579	$396,550,429	$-107,878,514
2022	$402,080,725	$513,588,117	$360,206,928	$-111,507,392
2021	$384,523,374	$435,961,439	$437,055,378	$-51,438,065
2020	$424,699,317	$418,447,687	$331,023,091	$6,251,630
2019	$432,574,420	$398,249,301	$253,356,090	$34,325,119
2018	$339,554,551	$351,350,644	$262,262,853	$-11,796,093