LAWRENCE MEMORIAL HEALTH FOUNDATIO… - Form 990 Financial Data

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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

Phone

8708861263

Tax Period

2023-07-01 to 2024-06-30

LAWRENCE MEMORIAL HEALTH FOUNDATION INC, founded in 2003, is a mid-sized nonprofit in the Health Care sector that reported $19.6M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year.

Mission

WE BELIEVE A FACILITY SHOULD DO MORE THAN PROVIDE HEALTH CARE SERVICES: AFTER ALL, OUR JOB IS ALL ABOUT BUILDING A HEALTHY COMMUNITY. FOR OVER 60 YEARS, LAWRENCE MEMORIAL HEALTH FOUNDATION, INC. HAS BEEN COMMITTED TO DELIVERING EMPLOYMENT, PUBLIC HEALTH EDUCATION AND QUALITY HEALTH CARE SERVICES TO THE RESIDENTS OF LAWRENCE COUNTY AND SURROUNDING COUNTIES. LAWRENCE MEMORIAL HEALTH FOUNDATION, INC. HAS A VISION OF COMMITTING THE RESOURCES TO MEET THE NEEDS AND EXPECTATIONS OF OUR PATIENTS, OUR STAFF, AND THE COMMUNITIES WE SERVICE. WE STRIVE TO BE A LEADER IN EFFICIENTLY AND CONTINUOUSLY IMPROVING THE ECONOMICS, ACCESSIBILITY AND QUALITY OF HEALTH CARE IN LAWRENCE COUNTY. AS A HEALTH CARE PROVIDER, WE ARE COMMITTED TO THOROUGHLY ASSESSING THE NEEDS OF THE COMMUNITIES THAT WE SERVE. EVERY YEAR, WE SERVE THOSE NEEDS THROUGH THE DELIVERY OF VOLUNTEERING, CHARITY CARE AND OTHER BENEFITS, SUCH AS EDUCATIONAL EVENTS AND FREE HEALTH SCREENINGS.

Program Service Accomplishments

Program 1

Expenses: $14,713,682 Revenue: $16,830,230

PROVIDE ROUTINE HOSPITAL CARE, OUTPATIENT AND CLINICAL SERVICES TO PATIENTS IN AND AROUND LAWRENCE COUNTY. IN FY24, 1,864 INPATIENT DAYS, 14,545 OUTPATIENT ADMISSIONS, 6,142 EMERGENCY ROOM ADMISSION

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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 $2,700,610

Program Service Revenue $16,830,230

Investment Income $78,210

Other Revenue $10,457

TOTAL REVENUE $19,619,507

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,804,337

Fundraising Expenses $33,425

Program Expenses $14,713,682

Other Expenses $9,246,677

TOTAL EXPENSES $20,051,014

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,619,507	$21,487,796	-0.1%
Expenses	$20,051,014	$19,096,200	+0.1%
Net Income	$-431,507	$2,391,596	-1.2%

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

241

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BONITA STAUDT	SECRETARY	1.0	Officer Director	$0	$0	$0
CLAY SLOAN	TREASURER	1.0	Officer Director	$0	$0	$0
JOHN THOMISON	CHAIRMAN	1.0	Officer Director	$0	$0	$0
LILA FLOYD	VICE CHAIRMAN	1.0	Officer Director	$0	$0	$0
AARON ANDREWS	BOARD MEMBER	1.0	Director	$0	$0	$0
BLAKE PERKINS	BOARD MEMBER	1.0	Director	$0	$0	$0
JEFF YATES	BOARD MEMBER	1.0	Director	$0	$0	$0
JEREMY HOPPER	BOARD MEMBER	1.0	Director	$0	$0	$0
JORDAN ANDREWS DDS	BOARD MEMBER	1.0	Director	$0	$0	$0
KERRY DALTON	BOARD MEMBER	1.0	Director	$0	$0	$0
RHONDA FORRESTER	BOARD MEMBER	1.0	Director	$0	$0	$0
SEB SPADES MD	BOARD MEMBER	1.0	Director	$0	$0	$0
WILLIAM WILCOXSON	BOARD MEMBER	1.0	Director	$0	$0	$0
WILMA JONES	BOARD MEMBER	1.0	Director	$0	$0	$0
AARON HILTON	PRESIDENT	25.0	Officer	$0	$0	$0
GREGG MCELHANON	CFO	40.0	Officer	$0	$0	$0
ELIZABETH FIKE MD	PHYSICIAN	39.4	Highest	$255,335	$13,201	$268,536
KEVIN DIAMOND MD	PHYSICIAN	67.7	Highest	$476,483	$30,325	$506,808
LEISA SPENCE MD	PHYSICIAN	49.9	Highest	$357,313	$18,278	$375,591
PAUL VELLOZO MD	PHYSICIAN	40.2	Highest	$220,811	$26,120	$246,931
SHANNON COOPER MD	PHYSICIAN	38.5	Highest	$252,989	$12,983	$265,972

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	No data	No data	No data	No data
2024	$19,619,507	$20,051,014	$19,221,489	$-431,507
2023	$21,487,796	$19,096,200	$20,362,829	$2,391,596
2022	$17,486,217	$17,508,429	$18,602,579	$-22,212
2021	$22,078,590	$16,386,956	$19,692,878	$5,691,634
2020	$17,200,827	$16,872,807	$19,729,060	$328,020
2019	$8,185,782	$8,194,592	$12,381,909	$-8,810

LAWRENCE MEMORIAL HEALTH FOUNDATION INC