ADVENTIST BOLINGBROOK HOSPITAL

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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

2003

Legal Domicile

Principal Officer

ED NOSEWORTHY

Phone

6303125000

Tax Period

2024-07-01 to 2025-06-30

ADVENTIST BOLINGBROOK HOSPITAL, founded in 2003, is a major nonprofit that reported $295.0M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORPORATION AND ALL ITS SUBSIDIARY ORGANIZATIONS WERE ESTABLISHED BY THE SEVENTH-DAY ADVENTIST CHURCH TO BRING A MINISTRY OF HEALING AND HEALTH TO THE COMMUNITIES SERVED. OUR MISSION IS TO EXTEND THE HEALING MINISTRY OF CHRIST.THE TAXPAYER'S PARENT IS ADVENTIST MIDWEST HEALTH, WHICH IS OWNED 49% BY ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORPORATION (ADVENTHEALTH). EFFECTIVE JANUARY 1, 2023, THE TAXPAYER'S PARENT ENTERED INTO A MASTER MANAGEMENT AGREEMENT WITH ADVENTHEALTH. ADVENTHEALTH SEEKS TO BE WIDELY RESPECTED AS A CONSUMER-FOCUSED ORGANIZATION THAT ENGAGES INDIVIDUALS IN THEIR HEALTH BY DELIVERING WHOLISTIC, BEST PRACTICE CARE ACROSS A CONNECTED, COMPREHENSIVE CONTINUUM OF SERVICES. WITH CHRIST AS OUR EXAMPLE, ADVENTHEALTH CARES FOR AND NURTURES PEOPLE: OUR EMPLOYEES, OUR COMMUNITIES, OUR HEALTHCARE PROFESSIONALS, AND THOSE WHO TRUST US FOR CARE AND HEALING.

Program Service Accomplishments

Program 1

Expenses: $273,517,929 Revenue: $289,869,679

OPERATION OF ACUTE CARE HOSPITAL TOTALING 138 BEDS. DURING THE CURRENT YEAR THERE WERE 6,985 ADMISSIONS RESULTING IN 29,086 PATIENT DAYS AND 172,693 OUTPATIENT VISITS.

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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 $187,851

Program Service Revenue $290,282,138

Investment Income $4,567,115

Other Revenue $0

TOTAL REVENUE $295,037,104

Expense Breakdown

Grants Paid $46,440

Salaries & Benefits $1,721,821

Fundraising Expenses $0

Program Expenses $273,517,929

Other Expenses $286,224,824

TOTAL EXPENSES $287,993,085

Year-over-Year Comparison

	2024	2023	Change
Revenue	$295,037,104	$255,346,719	+0.2%
Expenses	$287,993,085	$244,506,139	+0.2%
Net Income	$7,044,019	$10,840,580	-0.4%

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

N/A

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

$1,148,415

Total Directors

$1,071,608

Key Employees

$878,038

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REED MD MONICA	DIR/PRES/CEO REG	10.00	Director	$197,028	$34,087	$1,019,230
ROSE KENNETH	CEO BOLINGBROOK(CEO AGO END 02/2025)	37.50	Officer	$540,485	$120,856	$841,502
BUCHANAN HERBERT	FORMER OFFICER	0.00		$198,930	$27,059	$822,777
KRIKORIAN MD ARMAND	CMO BOLINGBROOK/GLENOAKS	25.00	Key Emp	$242,224	$116,011	$600,458
RADIVOJEVIC VLADIMIR	FORMER KEY EMPLOYEE (END 01/2025)	0.00		$0	$107,120	$559,480
SHAW TRISTAN	CFO BOLINGBROOK	50.00	Officer	$262,117	$44,796	$306,913
GALLAGHER RN KAREN	CNO BOLINGBROOK (END 10/2024)	50.00	Key Emp	$256,736	$20,844	$277,580
CHRISTIAN BRUCE	FORMER OFFICER	0.00		$76,789	$1,026	$154,604
KOHLI MD MANINDER	DIRECTOR	0.20	Director	$0	$0	$50,250
SHAYANI MD VAFA	DIRECTOR	0.50	Director	$2,128	$0	$2,128
AHMED MD AZIZ	DIRECTOR (BEG 01/2025)	0.20	Director	$0	$0	$0
ARQUILLA VENANZIO	DIRECTOR	0.20	Director	$0	$0	$0
BANKS DAVID	DIRECTOR/CHAIRMAN	0.20	Director	$0	$0	$0
DENSLOW KENNETH	DIRECTOR/VICE CHAIR (END 06/2025)	0.20	Director	$0	$0	$0
DIXON SUSAN	DIRECTOR	0.20	Director	$0	$0	$0
EASTMAN LINDA	DIRECTOR	0.20	Director	$0	$0	$0
GRAY JR MARSHALL	DIRECTOR (END 06/2025)	0.20	Director	$0	$0	$0
GRYS D MIN JOHN	DIRECTOR	0.20	Director	$0	$0	$0
HAWKINS RONNIE	DIRECTOR	0.20	Director	$0	$0	$0
HOLDER BILL	DIRECTOR	0.20	Director	$0	$0	$0
JAHN ANDREW	DIRECTOR	0.20	Director	$0	$0	$0
LEVINE MD STACIE	DIRECTOR (BEG 07/2024)	0.20	Director	$0	$0	$0
O'CONNOR PETER	DIRECTOR	0.20	Director	$0	$0	$0
PATARI MD SANJAY	DIRECTOR (END 12/2024)	0.20	Director	$0	$0	$0
RAMIREZ ELDEN	DIRECTOR	0.20	Director	$0	$0	$0
RYAN MD PAUL	DIRECTOR	0.20	Director	$0	$0	$0
SCOTT GLYNN	DIRECTOR	0.20	Director	$0	$0	$0
SNYDER BRENT	DIRECTOR	0.20	Director	$0	$0	$0
VALAITIS MD SANDRA	DIRECTOR	0.20	Director	$0	$0	$0
WRIGHT JONATHAN	DIRECTOR	0.20	Director	$0	$0	$0

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	$295,037,104	$287,993,085	$297,312,225	$7,044,019
2024	$255,346,719	$244,506,139	$285,574,027	$10,840,580
2023	$122,455,051	$124,019,696	$284,808,847	$-1,564,645
2022	$220,111,652	$210,039,693	$142,338,258	$10,071,959
2021	$216,065,202	$194,862,448	$157,968,235	$21,202,754
2020	$179,719,336	$173,689,304	$140,783,483	$6,030,032
2019	$140,985,402	$131,431,944	$112,328,568	$9,553,458
2018	$137,071,095	$132,427,172	$110,340,812	$4,643,923