MEDICAL FINANCIAL SERVICES INC

EIN: 621112364 501(c)(3) Health Care

MEMPHIS, TN

Total Revenue
$202,808
Total Expenses
$404,065
Total Assets
$5,634,184
Net Assets
$5,447,119
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
TN
Principal Officer
JASON M LITTLE
Phone
9018217163
Tax Period
2023-10-01 to 2024-09-30

MEDICAL FINANCIAL SERVICES INC, founded in 1982, is a small nonprofit in the Health Care sector that reported $203K in total revenue in fiscal year 2023. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $404K exceeded revenue, resulting in a 99% operating deficit.

Mission

TO PROVIDE COLLECTION SERVICES FOR THE BAPTIST MEMORIAL HEALTH CARE CORPORATION OWNED/MANAGED FACILITIES IN THE MEMPHIS METRO AREA.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $202,808
Investment Income $0
Other Revenue $0
TOTAL REVENUE $202,808

Expense Breakdown

Grants Paid $0
Salaries & Benefits $176,384
Fundraising Expenses $0
Program Expenses $323,253
Other Expenses $227,681
TOTAL EXPENSES $404,065

Year-over-Year Comparison

2023 2022 Change
Revenue $202,808 $585,810 -0.7%
Expenses $404,065 $439,785 -0.1%
Net Income $-201,257 $146,025 -2.4%
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

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Governance

Voting Members
4
Independent Members
N/A
Employees
4
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
4
$6,457,527
Total Directors
5
$7,804,028
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GARY C ANDERSON VICE PRESIDENT/DIRECTOR 0.10
Officer Director
$0 $88,606 $1,300,745
GREGORY M DUCKETT DIRECTOR 0.23
Director
$0 $90,318 $1,346,501
JASON M LITTLE PRESIDENT/DIRECTOR 0.10
Officer Director
$0 $108,222 $3,155,218
KIMBERLY O YOUNG SECRETARY/DIRECTOR (AS OF 11/23) 0.10
Officer Director
$0 $47,942 $620,481
WILLIAM A GRIFFIN SECRETARY/DIRECTOR (THRU 10/23) 0.10
Officer Director
$0 $66,668 $1,381,083
CLAUDE VINSON FORMER EXECUTIVE DIRECTOR 0.00
$0 $39,130 $180,481
PAUL D DEPRIEST MD FORMER VICE PRESIDENT 0.00
$0 $85,100 $2,156,966
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 $202,808 $404,065 $5,634,184 $-201,257
2023 $585,810 $439,785 $5,986,177 $146,025
2022 $1,425,739 $1,694,414 $6,087,395 $-268,675
2021 $1,816,680 $2,138,508 $6,784,441 $-321,828
2020 $3,656,622 $3,047,132 $7,231,806 $609,490
2019 $5,003,458 $3,036,275 $6,130,701 $1,967,183
2018 $5,493,861 $3,056,648 $4,271,270 $2,437,213
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