Summit Medical Group Inc (EIN 611300608) - 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

1995

Legal Domicile

Phone

8596559253

Tax Period

2024-01-01 to 2024-12-31

Summit Medical Group Inc, founded in 1995, is a major nonprofit in the Health Care sector that reported $548.3M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

SUMMIT MEDICAL GROUP, INC. DBA ST. ELIZABETH PHYSICIANS ("SEP") IS A MULTI-SPECIALTY PHYSICIAN ORGANIZATION, DEDICATED TO PHYSICIAN DIRECTED DELIVERY OF QUALITY MEDICAL CARE IN THE NORTHERN KENTUCKY, SOUTHWESTERN OHIO, AND SOUTHEASTERN INDIANA AREAS. SEP PROVIDES QUALITY HEALTH CARE TO ALL PATIENTS REGARDLESS OF THEIR ABILITY TO PAY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $67,923

Program Service Revenue $546,012,236

Investment Income $1,088,100

Other Revenue $1,163,860

TOTAL REVENUE $548,332,119

Expense Breakdown

Grants Paid $0

Salaries & Benefits $426,990,882

Fundraising Expenses $0

Program Expenses $454,492,120

Other Expenses $120,102,926

TOTAL EXPENSES $547,093,808

Year-over-Year Comparison

	2024	2023	Change
Revenue	$548,332,119	$488,811,199	+0.1%
Expenses	$547,093,808	$514,243,325	+0.1%
Net Income	$1,238,311	$-25,432,126	-1.0%

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

2891

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

$3,478,631

Total Directors

$11,465,349

Key Employees

$407,475

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Chaitanya Mandapakala MD	PHYSICIAN/VICE CHAIR	50.0	Officer Director	$961,639	$58,396	$1,020,035
Donald Price MD	PHYSICIAN/CHAIR	50.0	Officer Director	$459,367	$59,546	$518,913
Heidi Murley MD	PRESIDENT/CEO	25.0	Officer Director	$0	$62,765	$867,983
Alvin Garrison	DIRECTOR THRU JUNE 2024	4.0	Director	$0	$0	$0
Amy Haney MD	PHYSICIAN/DIRECTOR	50.0	Director	$312,979	$49,014	$361,993
Bradley Patterson MD	PHYSICIAN/DIRECTOR AS OF JANUARY 2024	50.0	Director	$385,848	$24,360	$410,208
Curtis Dorsch MD	PHYSICIAN/DIRECTOR THRU MARCH 2024	50.0	Director	$590,104	$59,703	$649,807
Daniel Flora MD	PHYSICIAN/DIRECTOR	50.0	Director	$633,530	$61,699	$695,229
Garren Colvin	SEH PRESIDENT/CEO	4.0	Director	$0	$52,122	$1,709,972
LaRoy Kendall MD	SEH CHIEF MEDICAL OFFICER/DIRECTOR	4.0	Director	$0	$43,281	$617,537
Linda Hermiller-Steller MD	PHYSICIAN/DIRECTOR	50.0	Director	$378,121	$35,354	$413,475
Lisa Arehart APRN	APRN/DIRECTOR	50.0	Director	$284,241	$46,249	$330,490
Lori Ritchey-Baldwin	SEH EXECUTIVE VP/DIRECTOR	4.0	Director	$0	$52,290	$878,579
Noreen Durrani MD	PHYSICIAN/DIRECTOR	50.0	Director	$701,315	$59,649	$760,964
Robert Wagner MD	PHYSICIAN/DIRECTOR	50.0	Director	$184,149	$51,674	$235,823
Sonia Chopra MD	PHYSICIAN/DIRECTOR	50.0	Director	$514,922	$45,004	$559,926
Stacey Bishop-Yeatman MD	PHYSICIAN/DIRECTOR	50.0	Director	$369,025	$61,086	$430,111
Thom Bunnell DO	PHYSICIAN/DIRECTOR	50.0	Director	$407,062	$56,149	$463,211
Vickie Chan MD	PHYSICIAN/DIRECTOR	50.0	Director	$483,668	$57,425	$541,093
Bruce Henley	CFO/TREASURER	35.0	Officer	$0	$50,803	$419,669
Jacob Bast	SENIOR VP/COO/SECRETARY	35.0	Officer	$0	$57,710	$652,031
Ann Beers MD	PHYSICIAN/CHIEF MEDICAL OFFICER	50.0	Key Emp	$381,285	$26,190	$407,475
Colleen Darnell MD	PHYSICIAN	50.0	Highest	$1,189,381	$58,546	$1,247,927
Ivan Bedoya-Apraez MD	PHYSICIAN	50.0	Highest	$1,297,012	$54,346	$1,351,358
Neal Moser MD	PHYSICIAN	50.0	Highest	$1,567,729	$48,974	$1,616,703
Pratish Shah MD	PHYSICIAN	50.0	Highest	$1,276,276	$54,975	$1,331,251
William Willmott MD	PHYSICIAN	50.0	Highest	$1,502,584	$58,352	$1,560,936
Douglas Flora MD	PHYSICIAN/FORMER EXECUTIVE MEDICAL DIRECTOR	0.0		$838,243	$58,836	$897,079
Susan Oakley MD	FORMER VICE CHAIR	0.0		$743,075	$41,373	$784,448

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	$548,332,119	$547,093,808	$234,616,272	$1,238,311
2023	$488,811,199	$514,243,325	$208,890,607	$-25,432,126
2022	$459,566,276	$460,711,313	$194,320,329	$-1,145,037
2021	$425,285,378	$432,141,988	$190,205,942	$-6,856,610
2020	$361,498,574	$367,997,484	$161,505,600	$-6,498,910
2019	$357,405,081	$345,101,163	$131,881,432	$12,303,918
2018	$334,728,573	$319,491,911	$39,337,741	$15,236,662

Summit Medical Group Inc