FLORIDA HOSPITAL MEDICAL GROUP 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

1994

Legal Domicile

Principal Officer

JILLYAN MCKINNEY

Phone

4072002700

Tax Period

2023-01-01 to 2023-12-31

FLORIDA HOSPITAL MEDICAL GROUP INC, founded in 1994, is a large national nonprofit that reported $1.0B in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORPORATION AND ALL ITS SUBSIDIARY ORGANIZATIONS WERE ESTABLISHED BY THE SEVENTH-DAY ADVENTIST CHURCH TO BRING A MINISTRY OF HEALING AND HEALTH TO THE COMMUNITIES SERVED. OUR MISSION IS TO EXTEND THE HEALING MINISTRY OF CHRIST.THE FILING ORGANIZATION AND HEALTHCARE SYSTEM WHOSE PARENT IS ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORPORATION IS KNOWN AS ADVENTHEALTH. ADVENTHEALTH SEEKS TO BE WIDELY RESPECTED AS A CONSUMER-FOCUSED ORGANIZATION THAT ENGAGES INDIVIDUALS IN THEIR HEALTH BY DELIVERING WHOLISTIC, BEST PRACTICE CARE ACROSS A CONNECTED, COMPREHENSIVE CONTINUUM OF SERVICES. WITH CHRIST AS OUR EXAMPLE, ADVENTHEALTH CARES FOR AND NURTURES PEOPLE: OUR EMPLOYEES, OUR COMMUNITIES, OUR HEALTHCARE PROFESSIONALS, AND THOSE WHO TRUST US FOR CARE AND HEALING.

Program Service Accomplishments

Program 1

Expenses: $953,023,881 Revenue: $1,039,016,514

THE PRIMARY MISSION OF FHMG IS TO SERVE THE HEALTH CARE NEEDS OF THE LOCAL COMMUNITY BY PROVIDING BROAD ACCESS TO SERVICES THROUGH VARIOUS PROGRAMS, INCLUDING PHYSICIAN PARTICIPATION IN MEDICARE...

THE PRIMARY MISSION OF FHMG IS TO SERVE THE HEALTH CARE NEEDS OF THE LOCAL COMMUNITY BY PROVIDING BROAD ACCESS TO SERVICES THROUGH VARIOUS PROGRAMS, INCLUDING PHYSICIAN PARTICIPATION IN MEDICARE, MEDICAID, AND BY PROVIDING INDIGENT CARE. THERE WERE 2,774,977 PATIENT VISITS DURING THE CURRENT YEAR.

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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 $953,213

Program Service Revenue $1,039,016,514

Investment Income $913,284

Other Revenue $220,130

TOTAL REVENUE $1,041,103,141

Expense Breakdown

Grants Paid $27,621

Salaries & Benefits $840,578,116

Fundraising Expenses $0

Program Expenses $953,023,881

Other Expenses $204,865,117

TOTAL EXPENSES $1,045,470,854

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,041,103,141	$871,635,550	+0.2%
Expenses	$1,045,470,854	$864,647,972	+0.2%
Net Income	$-4,367,713	$6,987,578	-1.6%

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

5539

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

$1,246,602

Total Directors

$10,600,664

Key Employees

$1,979,281

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATEL MD VIPUL	PHYSICIAN	69.00	Highest	$4,109,978	$546,968	$4,656,946
HAFFNER PHD RANDALL	DIRECTOR/CHAIRMAN (END 12/23)	5.00	Director	$0	$205,401	$2,651,112
BHATHEJA MD ROHIT	PHYSICIAN	63.00	Highest	$2,118,818	$49,806	$2,168,624
KATA MD EDWARD	PHYSICIAN	45.00	Highest	$1,956,492	$45,089	$2,001,581
BARSOUM MD BASIEM	PHYSICIAN	45.00	Highest	$1,872,575	$52,008	$1,924,583
HOLLOWAY MD ROBERT	PHYSICIAN	49.00	Highest	$1,802,913	$35,600	$1,838,513
GOODMAN TODD	DIRECTOR (END 08/23)	0.50	Director	$0	$187,885	$1,783,370
THOMPSON MICHAEL	DIRECTOR (END 08/23)	10.00	Director	$0	$144,054	$1,487,155
ADAMS BRIAN	DIRECTOR/CHAIRPERSON (BEG 08/23)	0.50	Director	$0	$183,603	$1,409,460
STILTZ BRYAN	DIRECTOR (BEG 04/23)	0.50	Director	$0	$167,645	$1,394,176
HILLIARD DOUG	DIRECTOR (BEG 08/23)	0.50	Director	$0	$131,368	$1,098,912
CACCIATORE MD MICHAEL	FORMER KEY EMPLOYEE	0.00		$0	$125,136	$1,082,893
DESHAIES MD ERIC	CHIEF PHYSICIAN EXEC	50.00	Key Emp	$0	$160,015	$809,364
JIMENEZ KRISTIN	DIRECTOR (BEG 12/23)	0.10	Director	$0	$101,645	$776,479
MCKINNEY JILLYAN	CEO	50.00	Officer	$0	$121,514	$769,420
WYLIE II WARREN	COO (END 03/23)	50.00	Key Emp	$0	$50,662	$623,193
MCLARREN VANCE	COO (BEG 03/23)	50.00	Key Emp	$100,239	$67,883	$546,724
HATCHER NICHOLE	CFO	50.00	Officer	$0	$82,620	$477,182

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	$1,041,103,141	$1,045,470,854	$304,698,326	$-4,367,713
2022	$871,635,550	$864,647,972	$264,573,268	$6,987,578
2021	$775,240,217	$776,360,139	$261,853,637	$-1,119,922
2020	$646,457,847	$647,397,266	$218,308,219	$-939,419
2019	$595,979,283	$600,302,902	$186,531,620	$-4,323,619
2018	$562,588,844	$560,499,877	$137,291,365	$2,088,967