Homestead Hospital Inc (EIN 650232993) - 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

1991

Legal Domicile

Phone

7866627000

Tax Period

2023-10-01 to 2024-09-30

Homestead Hospital Inc, founded in 1991, is a major nonprofit in the Health Care sector that reported $529.9M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

SEE FORM 990, PART III, LINE 1

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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 (2023)

Revenue Breakdown

Contributions & Grants $855,765

Program Service Revenue $524,960,494

Investment Income $438,774

Other Revenue $3,667,112

TOTAL REVENUE $529,922,145

Expense Breakdown

Grants Paid $22,500

Salaries & Benefits $135,786,710

Fundraising Expenses $0

Program Expenses $499,464,751

Other Expenses $400,349,371

TOTAL EXPENSES $536,158,581

Year-over-Year Comparison

	2023	2022	Change
Revenue	$529,922,145	$458,543,202	+0.2%
Expenses	$536,158,581	$500,914,192	+0.1%
Net Income	$-6,236,436	$-42,370,990	-0.9%

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

1561

Volunteers

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

$1,706,069

Total Directors

$3,921

Key Employees

$1,469,822

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bill R Tillett	Director	2.0	Director	$0	$0	$200
David Trueba MD	Director - END 03/2024	2.0	Director	$0	$0	$0
George E Cadman III	Director	2.0	Director	$0	$0	$0
Jeanne F Jacobs	Director	2.0	Director	$0	$0	$0
Johanna Paterson Carrier	Director	2.0	Director	$0	$0	$0
John P Maas ESQ	Director - END 06/2024	2.0	Director	$0	$0	$3,721
Jose Prado	Director	2.0	Director	$0	$0	$0
Maria Costa Smith	Director	2.0	Director	$0	$0	$0
Rao Uppaluri	Director	2.0	Director	$0	$0	$0
Rene W Taylor	Director	2.0	Director	$0	$0	$0
Rev William Chambers III	Director	2.0	Director	$0	$0	$0
Steven Sapp	Director	2.0	Director	$0	$0	$0
Willie Carpenter	Director	2.0	Director	$0	$0	$0
Edward G Shashaty	VP Finance Hospital Operations	8.0	Officer	$0	$136,725	$743,190
Kenneth Spell	CEO	50.0	Officer	$0	$162,416	$962,879
Ana Cabrera	VP of Nursing	50.0	Key Emp	$347,205	$86,339	$433,544
Charles Anderson Augustus II	Chief Medical Officer	50.0	Key Emp	$590,698	$32,437	$623,135
David Abercrombie	VP Operations	50.0	Key Emp	$348,902	$64,241	$413,143
Ann M Allen	AVP Nursing, End 12/31/2023	45.0	Highest	$222,323	$31,695	$254,018
Karl W Cetta	AVP Hospital Admin, End 10/1/2023	45.0	Highest	$257,069	$16,226	$273,295
Kurt H Kadel	AVP Hospital Admin	45.0	Highest	$244,197	$28,592	$272,789
Marie-Elsie Ade	Pharmacy Director	45.0	Highest	$237,356	$21,648	$259,004
Sherine A Craig	AVP Nursing	45.0	Highest	$225,661	$21,514	$247,175

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	$529,922,145	$536,158,581	$129,689,598	$-6,236,436
2023	$458,543,202	$500,914,192	$100,971,814	$-42,370,990
2022	$425,552,270	$451,662,922	$104,241,620	$-26,110,652
2021	$445,999,422	$435,900,958	$129,832,589	$10,098,464
2020	$409,266,841	$423,346,341	$84,032,014	$-14,079,500
2019	$398,708,599	$433,225,705	$64,906,221	$-34,517,106
2018	$417,782,248	$461,243,610	$63,558,635	$-43,461,362

Homestead Hospital Inc