Ballad Health (EIN 611771290) - 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

2015

Legal Domicile

Principal Officer

Alan Levine PresCEO

Phone

4233023467

Tax Period

2024-07-01 to 2025-06-30

Ballad Health, founded in 2015, is a major nonprofit in the Health Care sector that reported $130.2M in total revenue in fiscal year 2024. Revenue surged 61% from the prior year, signaling strong growth momentum. The organization ran a surplus of $35.0M, a strong 27% operating margin.

Mission

Honor those we serve by delivering the best possible care.

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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 $11,043,877

Program Service Revenue $14,327,992

Investment Income $100,341,703

Other Revenue $4,526,698

TOTAL REVENUE $130,240,270

Expense Breakdown

Grants Paid $2,007,011

Salaries & Benefits $9,439,048

Fundraising Expenses $342,109

Program Expenses $239,566,694

Other Expenses $83,830,954

TOTAL EXPENSES $95,277,013

Year-over-Year Comparison

	2024	2023	Change
Revenue	$130,240,270	$80,998,230	+0.6%
Expenses	$95,277,013	$85,724,392	+0.1%
Net Income	$34,963,257	$-4,726,162	-8.4%

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

2394

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

$9,699,571

Total Directors

$4,610,943

Key Employees

$2,671,739

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Alan Levine PresidentCEO	Executive Chair	57.00	Officer Director	$3,848,876	$286,146	$4,135,022
Marta Wayt MD BHMA	Director	5.00	Director	$0	$30,487	$475,921
Aldo Noseda	Director	5.00	Director	$0	$0	$0
Keith Wilson	Director	5.00	Director	$0	$0	$0
David Golden	Director	5.00	Director	$0	$0	$0
Dr Brian Noland	Director, Vice Chair	5.00	Officer Director	$0	$0	$0
Scott Niswonger	Director	5.00	Director	$0	$0	$0
David May MD	Director	5.00	Director	$0	$0	$0
David Lester	Director, Treasurer	5.00	Officer Director	$0	$0	$0
Martin Kent	Director	5.00	Director	$0	$0	$0
Michael J Quillen	Director	5.00	Director	$0	$0	$0
Shane Hilton EVP	Chief Financial Officer	57.00	Officer	$988,163	$113,059	$1,101,222
Eric Deaton EVP	Chief Operating Officer	57.00	Officer	$1,747,698	$137,400	$1,885,098
Marvin Eichorn EVP	Chief Administrative Officer	57.00	Officer	$1,445,711	$53,543	$1,499,254
Julie Bennett CLOGovnc Offcr	Director, Secretary	57.00	Officer	$976,689	$102,286	$1,078,975
Anthony Keck EVP	Chief Transformation Officer	64.00	Key Emp	$996,815	$110,024	$1,106,839
Pam Austin SVP	Chief Information Officer	55.00	Key Emp	$764,221	$79,619	$843,840
Lisa Smithgall SVP	Chief Nursing Executive	55.00	Key Emp	$628,794	$92,266	$721,060
Amit Vashist MD	Chief Clinical Officer	55.00	Highest	$847,756	$81,164	$928,920
Clay Runnels MD EVP	Chief Physician Executive	64.00	Highest	$1,375,526	$131,128	$1,506,654
Steve Kilgore SVP	Retail & Physician Svcs.	55.00	Highest	$1,651,089	$104,672	$1,755,761
Deborah Dover SVP	Chief Human Resources Officer	55.00	Highest	$779,824	$82,108	$861,932
Bradley Price SVP	Regional Ops & Svc. Line Dev.	55.00	Highest	$736,224	$90,464	$826,688
Lynn Krutak	Former Officer	57.00		$1,101,262	$76,184	$1,177,446
Shana Tate VP Financial Mgmt	Former Key Employee	40.00		$365,817	$49,886	$415,703
Melissa Carr Sr Dir Treasury	Former Key Employee	40.00		$132,197	$18,724	$150,921
Tim Belisle	Former Officer	0.00		$448,129	$0	$448,129

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
2025	$130,240,270	$95,277,013	$1,973,498,062	$34,963,257
2024	No data	No data	No data	No data
2023	$72,147,131	$85,176,207	$1,842,874,401	$-13,029,076
2022	$90,929,944	$86,860,303	$1,902,110,390	$4,069,641
2021	$66,069,991	$87,114,676	$2,205,229,549	$-21,044,685
2020	$56,396,392	$148,620,567	$2,037,115,071	$-92,224,175
2019	$45,556,469	$73,288,960	$1,975,165,200	$-27,732,491
2018	$-13,098,518	$563,134	$856,766,017	$-13,661,652

Ballad Health