HALIFAX MEDICAL CENTER FOUNDATION INC (EIN 592893051) - 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

1988

Legal Domicile

Principal Officer

CHARLIE LYDECKER

Phone

3862264050

Tax Period

2023-10-01 to 2024-09-30

HALIFAX MEDICAL CENTER FOUNDATION INC, founded in 1988, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.1M, a strong 70% operating margin.

Mission

THE HMC FOUNDATION WAS ESTABLISHED TO DEVELOP PHILANTROPIC FUNDS FOR HALIFAX MEDICAL CENTER BY GENERATING A HIGH LEVEL OF UNDERSTANDING IN THE COMMUNITY REGARDING THE NEED FOR GIFT GIVING AND INVOLVING THE COMMUNITY IN FINANCIALLY SUPPORTING THE MEDICAL CENTER.

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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 $1,560,608

Program Service Revenue $0

Investment Income $1,510,847

Other Revenue $0

TOTAL REVENUE $3,071,455

Expense Breakdown

Grants Paid $665,141

Salaries & Benefits $63,366

Fundraising Expenses $0

Program Expenses $929,928

Other Expenses $201,421

TOTAL EXPENSES $929,928

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,071,455	$4,033,463	-0.2%
Expenses	$929,928	$898,968	+0.0%
Net Income	$2,141,527	$3,134,495	-0.3%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT GABLE	ASSISTANT SE	5.00	Officer	$0	$0	$0
CHARLENE GREER	ASSISTANT TR	5.00	Officer	$0	$0	$0
JOHN GUTHRIE	EXECUTIVE DI	40.00	Officer	$0	$0	$0
BISSY HOLDEN	SECRETARY	5.00	Officer	$0	$0	$0
CHARLIE LYDECKER	CHAIR	5.00	Officer	$0	$0	$0
BUD RITCHEY	REASURER	5.00	Officer	$0	$0	$0
BOBBY THIGPEN	VICE CHAIR	5.00	Officer	$0	$0	$0

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	$3,071,455	$929,928	$73,046,559	$2,141,527
2023	$4,033,463	$898,968	$60,639,886	$3,134,495
2022	$4,325,845	$2,226,894	$53,893,097	$2,098,951
2021	$4,408,931	$920,583	$59,347,387	$3,488,348
2020	$4,785,844	$1,492,017	$47,690,414	$3,293,827
2020	$4,785,844	$1,492,017	$47,690,414	$3,293,827
2019	$2,767,069	$693,005	$45,832,117	$2,074,064
2018	$1,870,195	$700,875	$45,276,638	$1,169,320

HALIFAX MEDICAL CENTER FOUNDATION INC