SHERIDAN MEMORIAL HOSPITAL ASSOCIA… - 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

1920

Legal Domicile

Principal Officer

KODY NELSON

Phone

4067653700

Tax Period

2024-07-01 to 2025-06-30

SHERIDAN MEMORIAL HOSPITAL ASSOCIATION, founded in 1920, is a mid-sized nonprofit in the Health Care sector that reported $24.0M in total revenue in fiscal year 2024. Expenses of $22.5M left a modest 6% surplus.

Mission

PROVIDING QUALITY CARE TO IMPROVE THE HEALTH AND WELL-BEING OF THE PEOPLE AND COMMUNITY WE SERVE, REGARDLESS OF THEIR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $18,661,470 Revenue: $24,005,071

SHERIDAN MEMORIAL HOSPITAL ASSOCIATION OPERATES A 19-BED CRITICAL ACCESS HOSPITAL, A 35-BED LONG-TERM CARE FACILITY, AND A RURAL HEALTH CLINIC THAT BENEFIT THE PEOPLE IN THE SURROUNDING AREA. SMHA IS THE ONLY MEDICAL FACILITY IN SHERIDAN COUNTY, WHICH HAS A POPULATION OF APPROXIMATELY 3,500 RESIDENTS. HIGHLIGHTS OF THE ORGANIZATION'S ACCOMPLISHMENTS DURING FY25 ARE INCLUDED BELOW: - SMHA INCREASED ITS CAPACITY TO PATIENTS IN THE RHC BY 4% IN FY25. THIS WAS ACCOMPLISHED BY INSTITUTING PRODUCTIVITY REQUIREMENTS FOR PROVIDERS, HIRING QUALIFIED AND HARD-WORKING PROVIDERS AND UPDATING PATIENT WORKFLOWS. - SMHA CONTINUED TO UPDATE ITS DIAGNOSTIC CAPABILITIES, ALLOWING FOR IMPROVED IDENTIFICATION OF AILMENTS AND HEALTH ISSUES. THIS IN-TURN HAS ALLOWED SMHA TO HAVE PATIENTS SEEN AT THE CORRECT LEVEL OF CARE FOR THEIR NEEDS AND HELPED SMHA PROVIDERS TREAT PATIENTS LOCALLY RATHER THAN HAVING TO REFER OR TRANSFER TO A HIGHER LEVEL OF CARE. THIS IS EVIDENT IN THE INCREASE IN PATIENTS SEEN IN OUR CLINIC AND UTILIZATION OF OUR ANCILLARY SERVICES.VOLUME INDICATORS FOR THE FISCAL YEAR ARE AS FOLLOWS: ACUTE CARE INPATIENT ADMISSIONS - 108ED VISITS - 1,026SWING BED PATIENTS - 51LONG-TERM CARE ADMISSIONS - 15HOME CARE VISITS - 2,963HOSPICE - 233CLINIC VISITS - 10,820

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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 $24,213

Program Service Revenue $24,005,071

Investment Income $4,264

Other Revenue $2,175

TOTAL REVENUE $24,035,723

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,523,592

Fundraising Expenses $189,123

Program Expenses $18,661,470

Other Expenses $11,960,309

TOTAL EXPENSES $22,483,901

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,035,723	$22,728,154	+0.1%
Expenses	$22,483,901	$21,924,359	+0.0%
Net Income	$1,551,822	$803,795	+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

192

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
DON BENSON	CHAIR	1.00	Officer Director	$0	$0	$0
PAUL HANSON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOAN TOMMERUP	SECRETARY	1.00	Officer Director	$0	$0	$0
NANCY JENSEN	DIRECTOR	2.00	Director	$0	$0	$0
MYRNETTE MILLER	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS WIENS	DIRECTOR	2.00	Director	$0	$0	$0
LEXI OLSEN	DIRECTOR	1.00	Director	$0	$0	$0
KODY NELSON	CEO	40.00	Officer	$0	$0	$0
SIVASH SHAHBODAGHI	PHYSCIAN	40.00	Highest	$785,690	$18,201	$803,891
BRIT NYBY	APP	40.00	Highest	$223,846	$6,264	$230,110
CARLOS TREVINO	PHYSCIAN	10.00	Highest	$135,320	$6,278	$141,598
STEPHANIE KANNING	RN	40.00	Highest	$307,399	$9,221	$316,620
JENNIFER HOVERSLAND	FNP	40.00	Highest	$117,588	$3,526	$121,114

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	$24,035,723	$22,483,901	$15,362,567	$1,551,822
2024	$22,728,154	$21,924,359	$12,888,326	$803,795
2023	$20,091,288	$19,114,895	$11,846,107	$976,393
2022	$16,110,911	$16,765,467	$10,733,629	$-654,556
2021	$17,187,432	$14,472,609	$12,705,710	$2,714,823
2020	$14,761,824	$13,746,126	$11,785,850	$1,015,698
2019	$11,819,364	$12,633,582	$6,285,031	$-814,218
2018	$11,959,015	$12,145,051	$6,168,743	$-186,036

SHERIDAN MEMORIAL HOSPITAL ASSOCIATION