Baptist Health Properties 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

1983

Legal Domicile

Phone

9042022883

Tax Period

2023-10-01 to 2024-09-30

Baptist Health Properties Inc, founded in 1983, is a mid-sized nonprofit that reported $16.5M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.8M, a strong 23% operating margin.

Mission

To make hope, healing and well-being accessible to every person as an expression of God's love.

Program Service Accomplishments

Program 1

Expenses: $10,669,555 Revenue: $15,818,792

Baptist Health Properties, Inc. (BHP) owns and manages various real estate properties that are primarily leased to various healthcare-related entities that are part of Baptist Health System, Inc...

Baptist Health Properties, Inc. (BHP) owns and manages various real estate properties that are primarily leased to various healthcare-related entities that are part of Baptist Health System, Inc. (BHS), an exempt 501(c)(3) charitable hospital system located in Northeast Florida, as well as other 501(c)(3) medical-related entities. These properties include medical office buildings within close proximity to BHS's six hospitals, free parking lots for employees and patients, and vacant land for future use. During the 2024 tax year, Baptist Health Properties completed construction on Baptist Nassau Crossing Medical Campus, which includes a Free-Standing Emergency Department and Imaging Center and a medical office building condominium that was constructed by Pavilion Health Services, Inc., an affiliated company of BHP. BHP purchased 1.66 acres of undeveloped land in the Bartram Commons commercial development in Duval County on March 7, 2024. BHP also purchased 5.25 acres of undeveloped land adjacent to the Nassau Crossing campus on July 25, 2024.

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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 $710,414

Program Service Revenue $15,807,262

Investment Income $16,905

Other Revenue $0

TOTAL REVENUE $16,534,581

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $10,669,555

Other Expenses $12,701,853

TOTAL EXPENSES $12,701,853

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,534,581	$14,027,918	+0.2%
Expenses	$12,701,853	$10,785,084	+0.2%
Net Income	$3,832,728	$3,242,834	+0.2%

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

N/A

Employees

N/A

Volunteers

N/A

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

$7,068,014

Total Directors

$5,549,920

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Keith A Tickell	VP/Treasurer	0.5	Officer Director	$0	$33,489	$1,178,603
Matthew A Zuino	President	0.5	Officer Director	$0	$154,075	$1,577,184
Michael A Mayo DHA	Chair	0.5	Officer Director	$0	$55,718	$2,456,417
Karl B Hanson Esq	Director	0.1	Director	$0	$14,834	$337,716
G Scott Baity Esq	Secretary	0.5	Officer	$0	$133,808	$1,052,314
T Scott Finnegan	Treasurer through 03.27.24/Asst. Treasurer	0.3	Officer	$0	$125,686	$803,496
Brett S McClung	Former Chair (As of 05.01.21)	0.0		$0	$0	$512,000
Scott M Wooten	Former Treasurer (As of 12.28.21)	0.0		$0	$0	$800,676

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	$16,534,581	$12,701,853	$167,516,879	$3,832,728
2023	$14,027,918	$10,785,084	$139,611,320	$3,242,834
2022	$11,714,055	$8,691,582	$134,827,111	$3,022,473
2021	$9,788,818	$8,320,177	$119,152,906	$1,468,641
2020	$8,337,904	$7,130,348	$84,398,691	$1,207,556
2019	$8,171,198	$6,726,134	$98,072,766	$1,445,064
2018	$8,668,863	$6,667,115	$91,508,344	$2,001,748