Baptist Healthcare System Inc

EIN: 610444707 501(c)(3) Health Care

Louisville, KY

Total Revenue
$4,336,531,405
Total Expenses
$3,883,349,938
Total Assets
$5,185,344,282
Net Assets
$2,991,029,938
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1918
Legal Domicile
KY
Principal Officer
Gerard Colman
Phone
5028965000
Tax Period
2023-09-01 to 2024-08-31

Baptist Healthcare System Inc, founded in 1918, is a large national nonprofit in the Health Care sector that reported $4.3B in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $3.9B left a modest 10% surplus.

Mission

The mission of Baptist Health is to exemplify our Christian heritage of providing quality healthcare services by enhancing the physical & emotional health of the people & communities we serve, guided by integrity, respect, stewardship, excellence, compassion & joy.

Program Service Accomplishments

Program 1
Expenses: $3,484,580,749 Revenue: $4,210,408,498

Since its inception in 1924, Baptist Healthcare System, Inc. ("Baptist Health") has been dedicated to providing accessible, quality healthcare to all patients regardless of their ability to pay. The...

Read more

Since its inception in 1924, Baptist Healthcare System, Inc. ("Baptist Health") has been dedicated to providing accessible, quality healthcare to all patients regardless of their ability to pay. The hospitals owned and operated by Baptist Healthcare System, Inc. under tax identification number 61-0444707 include: Baptist Health Louisville, located in Louisville, Kentucky; Baptist Health Corbin, located in Corbin, Kentucky; Baptist Health Lexington, located in Lexington, Kentucky; Baptist Health Paducah, located in Paducah, Kentucky; Baptist Health La Grange, located in La Grange, Kentucky, Baptist Health Richmond, located in Richmond, Kentucky, Baptist Health Hardin, located in Elizabethtown, Kentucky and Baptist Health Floyd, located in New Albany, Indiana. MISSION: As indicated by its mission statement, "Baptist Health demonstrates the love of Christ by providing and coordinating care and improving health in our communities", Baptist Health endeavors to faithfully continue its Christian heritage of service. Baptist Health is organized and operated exclusively for the benefit of each community that we serve, and each hospital is considered a respected and valuable community asset. Over the last 100 years, Baptist Health has earned a strong reputation for providing compassionate, safe, high quality, cost efficient, and patient-friendly care. The Baptist Health Board of Directors is comprised of local representatives who, along with the Systems' management and employees, understand that they are responsible to their communities for providing the highest quality healthcare services to enhance the physical, emotional and spiritual health and well-being of all. Both the mission and vision of Baptist Health are engrained into the culture of the entire organization. Baptist Health will live out its Christ-centered mission and achieve its vision guided by integrity, respect, stewardship, excellence, collaboration, compassion and joy. VISION: The vision of Baptist Health is to be the premier source for healthcare in Kentucky and Indiana, leading in clinical excellence, providing compassionate care and pursuing a growth model that best meets the needs of our communities and our patients. Our goal is to provide efficient, effective and affordable high-value services through dedicated, skilled teams that are focused on clinical excellence, and more importantly, the people in the communities we serve. The Baptist Health family includes more than 480 points of care at eight wholly owned and two joint venture acute care hospitals; three freestanding emergency departments; over 100 clinic and diagnostic locations and more than 370 physician offices and treatment facilities; offering inpatient, outpatient, urgent care, home and hospice care, rehab and many other services. Baptist Health services are available in 39 Kentucky counties, six counties in Illinois and six counties in southern Indiana. Our physician network of more than 3,200 employed and affiliated physicians, representing over 78 specialties, continues to grow as we strive to improve access to healthcare and enhance the health of the communities that we serve. To ensure that Baptist Health is prepared to meet the growing needs of its communities and is well positioned for the next generation of healthcare, we are working to build on our high-quality and accessible network of care. This multifaceted strategy will enhance existing facilities, build upon our sustainability goals, expand the availability of services and provide a locally convenient continuum of care. Investing in the areas where patients live, work and play - and want to receive care - will help Baptist Health have an even greater and more positive impact on the health of the populations we serve. Because of our strong reputation for providing high-quality patient care that utilizes the latest in medical technology and a vast network of community access points of care, patients seek out Baptist Health facilities for their health and wellness needs. According to state statistics for the period ended 9/30/2024, Baptist Health is one of the largest healthcare providers in the Commonwealth of Kentucky, providing more services than any other health system. KENTUCKY FY 2024 HOSPITAL STATISTICS: LICENSED BEDS: 2,301 beds - the second largest number of beds of any health system in Kentucky. EMPLOYEES: 21,334 employees during fiscal year 2024 - one of the top employers in Kentucky. INPATIENT CARE: 94,290 admissions/451,108 days - the largest number of admissions in Kentucky at a system-owned or managed hospital. One out of every six inpatients receiving care in Kentucky received care at a system-owned or managed hospital. OBSTETRIC (DELIVERIES): 12,955 babies - the largest number of babies delivered in Kentucky at a system-owned or managed hospital. Almost one in four babies in Kentucky was delivered at a Baptist Health owned or managed hospital. EMERGENCY VISITS: 396,645 registrations - the largest number of emergency visits in Kentucky at a system-owned or managed hospital. One in seven Emergency Department patients was treated at a system-owned or managed hospital. OUTPATIENT VISITS: 2,309,887 hospital visits - one in six outpatients in Kentucky receiving care in an acute-care setting was seen at a system-owned or managed hospital. RESPONSIVE TO COMMUNITY NEEDS: Operating healthcare facilities in today's environment requires a delicate balance between producing a sufficient margin to allow for adequate staffing and an investment in new technologies, while also providing enough resources to absorb the cost of care for those patients who do not have the ability to pay for the services. During the 2024 fiscal year, Baptist Health was able to re-invest over $359 million into our communities in new technology, construction, renovation and systems improvements. Because of the need to generate a modest margin while caring for all patients, Baptist Health strives to fulfill its community responsibility of collecting appropriate reimbursement from all patients who have the necessary resources while providing a generous, yet accountable charity care policy to assist those patients who do not have the means to pay for the services rendered. (See "Charity Care Policy" later in this section for further discussion). Baptist Health facilities consistently provide the highest levels of quality care to every patient and improve the health of the people it serves through health and educational programs, health screenings, medical research, community engagement and the training of health professionals. OTHER COMMUNITY BENEFITS INCLUDE: - Maintaining necessary, but unprofitable services that meet community needs - Helping to recruit physicians to underserved areas - Helping patients coordinate services with other healthcare providers - Providing resources for support groups - Promoting and providing preventive care services - Monitoring clinical outcomes in order to ensure quality care - Committing resources to improving safety and processes of care - Providing services that are conveniently accessible by patients - Working with state and local agencies and governments to safely and effectively respond to public health emergencies. In addition, Baptist Health employees volunteer thousands of hours in community services and leadership. Baptist Health's support for community activities underscores its commitment to improving the lives of those served. Baptist Health celebrated 100 years of service and caring with 176 days of service in our local communities. Baptist Health staff and providers interacted with nearly 11,000 community members, performed over 2,400 health screenings, collected over 350 units of blood, donated over $35,000 of food and cash to local food banks, donated over 650 pairs of shoes and backpacks to school children, delivered over 80,000 donated baby care items to new mothers and supporting agencies, introduced more than 100 students to healthcare careers and partnered with over 85 local agencies to serve our communities. Because Baptist Health and its employees contribute so much of their time, talent and resources to serve others, communities served by Baptist Health are better places to live and work. Quantification of many of the community benefits is detailed later in this section. However, what the Statement of Program Service Accomplishments doesn't measure is the economic benefit derived by each community from Baptist Health being one of the largest employers in the state. The local economic impact of the wages paid to Baptist Health employees is significant considering the dollars that are spent on food, housing, services and other products.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $42,572,688
Program Service Revenue $4,192,465,412
Investment Income $64,553,398
Other Revenue $36,939,907
TOTAL REVENUE $4,336,531,405

Expense Breakdown

Grants Paid $212,926,884
Salaries & Benefits $1,584,838,957
Fundraising Expenses $0
Program Expenses $3,484,580,749
Other Expenses $2,085,584,097
TOTAL EXPENSES $3,883,349,938

Year-over-Year Comparison

2023 2022 Change
Revenue $4,336,531,405 $3,692,771,906 +0.2%
Expenses $3,883,349,938 $3,533,165,433 +0.1%
Net Income $453,181,467 $159,606,473 +1.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
13
Independent Members
10
Employees
21334
Volunteers
750

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
$5,541,315
Total Directors
18
$3,562,911
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Gerard J Colman PhD CEO & Director 40.00
Officer Director
$3,115,807 $402,104 $3,517,911
Aaron Thompson PhD Director (Through 12/31/23) 1.00
Director
$3,000 $0 $3,000
Alan Redditt Director (Effective 1/1/24) 1.00
Director
$0 $0 $0
Bonnie Stith Director 1.00
Director
$3,000 $0 $3,000
Cory Hicks Director (Effective 1/1/24) 1.00
Director
$0 $0 $0
Dwain Morris Director 1.00
Director
$3,000 $0 $3,000
Glenn Leveridge Director (Through 12/31/23) 1.00
Director
$3,000 $0 $3,000
Jennifer Thomas Director 1.00
Director
$3,000 $0 $3,000
Kerry M Stemler Director 1.00
Director
$3,000 $0 $3,000
Lewis Diaz Director 1.00
Director
$3,000 $0 $3,000
Linda J Thomas PhD Director 1.00
Director
$3,000 $0 $3,000
Peter E Locken III MD Director (Through 10/23/23) 1.00
Director
$3,000 $0 $3,000
Rev Dr Terry T Lester Director (Through 12/31/23) 1.00
Director
$3,000 $0 $3,000
Robert L Hook Jr Director 1.00
Director
$3,000 $0 $3,000
Tammy Zimmerman Director 1.00
Director
$3,000 $0 $3,000
Victoria Buster Director (Through 12/31/23) 1.00
Director
$3,000 $0 $3,000
William B Shircliff Director 1.00
Director
$3,000 $0 $3,000
William Jeffrey Fultz Director 1.00
Director
$3,000 $0 $3,000
Richard F Carrico CFO, Treasurer, VP 40.00
Officer
$883,091 $30,778 $913,869
Janet Norton Secretary, VP, Chief Legal Officer 40.00
Officer
$1,070,881 $38,654 $1,109,535
Patrick Falvey System Chief Operating Officer 40.00
Highest
$1,589,511 $220,117 $1,809,628
Isaac Myers MD Chief Health Integration Officer 20.00
Highest
$1,166,884 $39,786 $1,206,670
Joseph Prather Chief Strategy Officer(Through 5/24) 40.00
Highest
$945,828 $156,005 $1,101,833
Christopher Roty Hospital President 40.00
Highest
$834,183 $45,611 $879,794
Angela Mannino Chief HR, Marketing & Comm Officer 40.00
Highest
$892,090 $73,466 $965,556
Stephen R Oglesby Former CFO, Treas, VP(Through 1/23) 0.00
$336,248 $7,196 $343,444
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 $4,336,531,405 $3,883,349,938 $5,185,344,282 $453,181,467
2023 $3,692,771,906 $3,533,165,433 $4,563,630,785 $159,606,473
2022 $3,703,027,563 $3,149,011,341 $4,254,824,382 $554,016,222
2021 $3,424,340,732 $2,734,409,007 $4,706,189,081 $689,931,725
2020 $2,507,006,969 $2,165,249,181 $3,706,111,550 $341,757,788
2019 $2,299,934,365 $1,997,900,399 $3,059,532,712 $302,033,966
2018 $2,116,259,710 $1,860,267,322 $2,890,128,218 $255,992,388
Explore More Nonprofits
Top 100 Nonprofits in Kentucky Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare Baptist Healthcare System Inc with other nonprofits in Kentucky and across the country.