MEMORIAL HOSPITAL FLAGLER INC (EIN 592951990) - 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

1989

Legal Domicile

Principal Officer

DENYSE BALES-CHUBB

Phone

3865862000

Tax Period

2023-01-01 to 2023-12-31

MEMORIAL HOSPITAL FLAGLER INC, founded in 1989, is a major nonprofit in the Health Care sector that reported $313.9M in total revenue in fiscal year 2023. The organization ran a surplus of $48.3M, a strong 15% operating margin.

Mission

THE PROVISION OF MEDICAL CARE TO THE COMMUNITY THROUGH THE OPERATION OF A 99 BED HOSPITAL.

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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 $344,958

Program Service Revenue $310,456,325

Investment Income $3,113,482

Other Revenue $0

TOTAL REVENUE $313,914,765

Expense Breakdown

Grants Paid $708,759

Salaries & Benefits $82,406,215

Fundraising Expenses $0

Program Expenses $248,289,010

Other Expenses $182,540,176

TOTAL EXPENSES $265,655,150

Year-over-Year Comparison

	2023	2022	Change
Revenue	$313,914,765	$292,432,530	+0.1%
Expenses	$265,655,150	$263,405,374	+0.0%
Net Income	$48,259,615	$29,027,156	+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

2239

Volunteers

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

$3,129,467

Total Directors

$10,708,370

Key Employees

$2,512,587

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALTER MD DENNIS	DIRECTOR	0.20	Director	$0	$35,043	$869,211
BALES-CHUBB DENYSE	DIR/FACILITY CEO	25.00	Officer Director	$0	$144,265	$991,766
CELANO PATRICIA	DIRECTOR	0.20	Director	$0	$142,301	$1,295,567
CHIUMENTO MICHAEL	DIRECTOR (END 12/23)	0.20	Director	$250	$0	$250
DAVIS BRENT	DIRECTOR (END 12/23)	6.00	Director	$0	$158,702	$884,687
FOWLER DAVID	DIRECTOR	0.20	Director	$250	$0	$250
GOODMAN TODD	DIRECTOR	0.50	Director	$0	$187,885	$1,783,370
GREGORY PHD AUDREY	DIRECTOR/CHAIRMAN	6.00	Officer Director	$0	$229,438	$1,716,377
HAFFNER PHD RANDALL	DIRECTOR	0.20	Director	$0	$205,401	$2,651,112
KABIR MD RIZWANUL	DIR / CHIEF OF STAFF	0.20	Director	$0	$0	$0
LEVERTON ROGER	DIRECTOR	0.20	Director	$250	$0	$250
PAPANDREA TONY	DIRECTOR	0.20	Director	$250	$0	$250
REGAN MD TERRENCE	DIRECTOR (END 12/23)	0.20	Director	$0	$0	$0
REVELS BARBARA	DIRECTOR	0.20	Director	$250	$0	$250
SOWERS SCOTT	DIRECTOR (END 12/23)	0.20	Director	$250	$0	$250
SWORD RAVEN	DIRECTOR	0.20	Director	$250	$0	$250
TIBBITS RICHARD	DIRECTOR (END 6/23)	0.20	Director	$0	$0	$0
GOEB-BURKETT MICHELLE	DIRECTOR	6.50	Director	$0	$72,517	$514,530
RATHBUN MARK	CFO - HOSPITAL FACILITY	25.00	Officer	$0	$52,470	$421,324
BRADY MARY	CNO-HOSPITAL FACILITY	25.00	Key Emp	$0	$31,659	$292,704
DE AQUINO WALMIR	COO-HOSPITAL FACILITY (END 5/23)	25.00	Key Emp	$0	$71,954	$431,031
HERBERT MD TERESA	CMO-HOSPITAL FACILITY (BEG 11/23)	25.00	Key Emp	$0	$61,693	$670,366
KILMAN MD MARK	CMO-HOSPITAL FACILITY (END 5/23)	25.00	Key Emp	$0	$106,063	$799,832
SCOTT CLIFTON	COO-HOSPITAL FACILITY (BEG 6/23)	25.00	Key Emp	$0	$31,132	$318,654
AMUNDSONMEGAN	AHPC ASSIST NURSE MGR	45.14	Highest	$205,825	$0	$205,825
SAMRAI BALRAJ	CLINICAL PHARMACIST	40.00	Highest	$190,249	$17,482	$207,731
BELL MARGARET	HOSPICE MEDICAL DIRECTOR	40.00	Highest	$214,022	$33,247	$247,269
DANIELS AIYONNA	AHPC RN	41.32	Highest	$180,352	$0	$180,352
TAYLOR WAYNE	AHPC DIRECTOR OF PHARMACY	35.69	Highest	$212,425	$41,824	$254,249
DOMAYER CORY	FORMER OFFICER	0.00		$0	$99,666	$532,555
THOMAS DEBORA	FORMER OFFICER	6.00		$0	$108,500	$980,815
GOVER MARY KATHY	FORMER KEY EMPLOYEE	0.00		$0	$33,854	$423,264

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	$313,914,765	$265,655,150	$566,398,902	$48,259,615
2022	$292,432,530	$263,405,374	$513,813,698	$29,027,156
2021	$307,723,697	$249,976,974	$540,444,241	$57,746,723
2020	$250,105,389	$206,719,246	$477,258,544	$43,386,143
2019	$239,348,498	$193,604,199	$433,613,054	$45,744,299
2018	$220,729,429	$181,103,445	$367,479,276	$39,625,984

MEMORIAL HOSPITAL FLAGLER INC