AdventHealth University 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

1991

Legal Domicile

Principal Officer

Josef Ghosn

Phone

4073039798

Tax Period

2023-01-01 to 2023-12-31

AdventHealth University Inc, founded in 1991, is a mid-sized nonprofit that reported $39.1M in total revenue in fiscal year 2023.

Mission

AdventHealth University, Inc., a Seventh-day Adventist institution, specializes in the education of professionals in healthcare. Service-oriented and guided by the values of nurture, excellence, spirituality, and stewardship, the University seeks to develop leaders who will practice healthcare as a ministry.

Program Service Accomplishments

Program 1

Expenses: $37,967,013 Revenue: $30,395,663

AdventHealth University, Inc. enrolled 1,413 degree seeking students in Spring 2023, 1,322 degree seeking students in Summer 2023, and 1,692 degree seeking students in Fall 2023. The programs with...

AdventHealth University, Inc. enrolled 1,413 degree seeking students in Spring 2023, 1,322 degree seeking students in Summer 2023, and 1,692 degree seeking students in Fall 2023. The programs with the greatest enrollment numbers included sonography, radiology, nursing, allied health, healthcare administration, imaging sciences, spirtual care, and robotics.

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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 $8,207,257

Program Service Revenue $30,395,663

Investment Income $332,938

Other Revenue $204,351

TOTAL REVENUE $39,140,209

Expense Breakdown

Grants Paid $1,758,773

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $37,967,013

Other Expenses $39,842,825

TOTAL EXPENSES $41,601,598

Year-over-Year Comparison

	2023	2022	Change
Revenue	$39,140,209	$38,827,725	+0.0%
Expenses	$41,601,598	$36,959,428	+0.1%
Net Income	$-2,461,389	$1,868,297	-2.3%

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

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

$1,689,173

Total Directors

$19,838,196

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Shaw Terry	Member (ended 6/2023)	0.50	Director	$0	$1,335,139	$6,344,107
Haffner PhD Randall	Chairman/Member	3.50	Director	$0	$205,401	$2,651,112
Ottati David	Member	0.50	Director	$0	$214,123	$2,195,971
Bacon Kenneth	Member (ended 4/2023)	0.50	Director	$0	$273,737	$2,044,666
Goodman Todd	Member	1.00	Director	$0	$187,885	$1,783,370
Azevedo Olesea	Member	1.00	Director	$0	$216,442	$1,413,709
Kuhlman MD Jeffrey	Member	0.50	Director	$0	$117,238	$979,045
Ghosn C Josef	Sec/President/Member (began 5/2023)	50.00	Officer Director	$0	$72,138	$763,096
Hernandez PhD Edwin	Sec/President/Member (ended 4/2023)	50.00	Officer Director	$0	$16,357	$712,298
Mitchell PhD Lamata	Member	0.50	Director	$0	$92,397	$546,295
Saliba Slimen	Member	0.50	Director	$0	$35,371	$243,413
Martinez Ruben	CFO	50.00	Officer	$0	$37,405	$213,779
Miles Rachel	Member (began 9/2023)	0.50	Director	$0	$10,841	$129,213
Smith DMin PhD Ron	Vice Chair/Member	0.50	Director	$0	$0	$11,541
Cummings Des	Member (began 9/2023)	0.50	Director	$0	$0	$7,588
Luxton Andrea	Member (began 9/2023)	0.50	Director	$0	$0	$6,706
Machado DMin Allan	Member	0.50	Director	$0	$0	$6,066
Andrews PhD Diane	Member	0.50	Director	$0	$0	$0
Clem MD Kathleen	Member	0.50	Director	$0	$0	$0
Diaz Arelis	Member	0.50	Director	$0	$0	$0
Dixon Daryl	Member	0.50	Director	$0	$0	$0
Hubbell Gerald	Member	0.50	Director	$0	$0	$0
Stewartson Shannon	Member	0.50	Director	$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	No data	No data	No data	No data
2023	$39,140,209	$41,601,598	$45,037,223	$-2,461,389
2022	$38,827,725	$36,959,428	$46,276,102	$1,868,297
2021	$41,988,749	$37,673,006	$48,086,659	$4,315,743
2020	$38,831,995	$33,963,901	$26,283,457	$4,868,094
2019	$35,609,258	$35,268,491	$20,268,002	$340,767
2018	$34,730,091	$35,142,545	$20,586,008	$-412,454