MEDICAL FOUNDATION INC

EIN: 640834532 501(c)(3) Health Care

MERIDIAN, MS

Total Revenue
$41,409,964
Total Expenses
$59,309,331
Total Assets
$6,962,928
Net Assets
$-38,135,687
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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
1993
Legal Domicile
MS
Principal Officer
D LARKIN KENNEDY
Phone
6017039992
Tax Period
2023-01-01 to 2023-12-31

MEDICAL FOUNDATION INC, founded in 1993, is a mid-sized nonprofit in the Health Care sector that reported $41.4M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $59.3M exceeded revenue, resulting in a 43% operating deficit.

Mission

PROVIDE HEALTH CARE SERVICES

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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 $41,383,955
Investment Income $0
Other Revenue $26,009
TOTAL REVENUE $41,409,964

Expense Breakdown

Grants Paid $0
Salaries & Benefits $38,798,944
Fundraising Expenses $0
Program Expenses $49,884,738
Other Expenses $20,510,387
TOTAL EXPENSES $59,309,331

Year-over-Year Comparison

2023 2022 Change
Revenue $41,409,964 $33,212,172 +0.2%
Expenses $59,309,331 $52,682,965 +0.1%
Net Income $-17,899,367 $-19,470,793 -0.1%
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
N/A
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
$1,396,022
Total Directors
4
$1,588,355
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
D LARKIN KENNEDY CEO - OCHSNER RUSH HEALTH 1.00
Officer Director
$0 $54,090 $669,893
J ALLEN TYRA CEO - OCHSNER RUSH MEDICAL CENTER 1.00
Officer Director
$0 $23,546 $374,098
DAVID BUTLER CFO - OCHSNER RUSH HEALTH 1.00
Officer Director
$0 $21,709 $352,031
P LANCE BRENT BOARD MEMBER 1.00
Director
$0 $19,570 $192,333
FREDERICK DUGGAN MD FORMER OFFICER 0.00
$0 $27,383 $840,103
BYRON TUCKERMD FORMER HIGHEST COMP - PHYSICIAN 0.00
$0 $33,529 $1,292,958
EDWARD SMITH MD FORMER HIGHEST COMP - PHYSICIAN 0.00
$0 $24,121 $1,190,317
LANE RUSH MD FORMER HIGHEST COMP - PHYSICIAN 0.00
$0 $27,545 $1,141,456
URELAINE SIMON-HART MD FORMER HIGHEST COMP - PHYSICIAN 0.00
$0 $24,189 $934,141
LESLIE B GRAY MD FORMER HIGHEST COMP - PHYSICIAN 0.00
$0 $25,849 $898,077
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 $41,409,964 $59,309,331 $6,962,928 $-17,899,367
2022 $33,212,172 $52,682,965 $1,447,906 $-19,470,793
2021 $51,016,013 $54,507,454 $80,416,096 $-3,491,441
2020 $67,409,430 $66,752,355 $61,253,202 $657,075
2019 $68,939,647 $67,783,383 $61,168,789 $1,156,264
2018 $55,323,136 $56,920,686 $53,844,807 $-1,597,550
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