Apella Health Management Inc

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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

2016

Legal Domicile

Phone

8645605010

Tax Period

2023-10-01 to 2024-09-30

Apella Health Management Inc, founded in 2016, is a major nonprofit in the Philanthropy & Grantmaking sector that reported $473.8M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

Apella Health Management was formed to provide certain charitable and health care services to the benefit of Spartanburg Regional Health Services District, Inc., a public hospital corporation and political subdivision of the State of South Carolina, in furtherance of serving the health care needs of Spartanburg County communities in South Carolina and other surrounding communities.

Program Service Accomplishments

Program 1

Expenses: $447,740,671 Revenue: $471,855,286

THE ORGANIZATION WAS FORMED TO PROMOTE HEALTH FOR THE BENEFIT OF THE COMMUNITY AND LESSEN THE BURDENS OF GOVERNMENT BOTH WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE BY PROVIDING CERTAIN...

THE ORGANIZATION WAS FORMED TO PROMOTE HEALTH FOR THE BENEFIT OF THE COMMUNITY AND LESSEN THE BURDENS OF GOVERNMENT BOTH WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE BY PROVIDING CERTAIN ESSENTIAL CHARITABLE AND HEALTH CARE SERVICES, INCLUDING MANAGEMENT SERVICES TO THE SPARTANBURG REGIONAL HEALTH SERVICES DISTRICT, A STATE INSTRUMENTALITY OF SOUTH CAROLINA (THE "DISTRICT"). SUCH SERVICES ARE ESSENTIAL IN FURTHERANCE OF SERVING THE HEALTH CARE NEEDS OF THE COMMUNITIES IN AND SURROUNDING SPARTANBURG. THE DISTRICT'S HEALTH CARE FACILITIES, INCLUDE FIVE (5) ACUTE-CARE HOSPITALS; A LONG TERM ACUTE CARE HOSPITAL; TWO LONG-TERM CARE FACILITIES; A HOSPICE HOME AND IN-HOME HOSPICE SERVICES; A PHYSICIAN GROUP CONSISTING OF OVER 484 PHYSICIANS LOCATED THROUGHOUT THE DISTRICT'S SERVICE AREA; AND OTHER RELATED ENTITIES. PROVIDING THESE SERVICES, THE ORGANIZATION'S ACTIVITIES ALLOW THE DISTRICT TO BETTER ACHIEVE ITS CHARITABLE AND GOVERNMENTAL PURPOSES.

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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 $0

Program Service Revenue $471,855,286

Investment Income $1,904,278

Other Revenue $0

TOTAL REVENUE $473,759,564

Expense Breakdown

Grants Paid $0

Salaries & Benefits $455,459,682

Fundraising Expenses $0

Program Expenses $447,740,671

Other Expenses $7,762,889

TOTAL EXPENSES $463,222,571

Year-over-Year Comparison

	2023	2022	Change
Revenue	$473,759,564	$405,021,942	+0.2%
Expenses	$463,222,571	$399,365,996	+0.2%
Net Income	$10,536,993	$5,655,946	+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

8010

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

Total Directors

$2,250,384

Key Employees

$4,801,127

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ashley Allen	Board Member	1.0	Director	$0	$0	$0
D Byrd Miller III	Chair	1.0	Director	$0	$0	$0
Katherine O'Neil	Vice Chair	1.0	Director	$0	$0	$0
Mary L Thomas	Past Chair	1.0	Director	$0	$0	$0
Michael Orseck MD	Board Member	1.0	Director	$0	$15,051	$1,711,154
Robert Barrett	Secretary	1.0	Director	$0	$0	$0
Scott Montgomery	Treasurer	1.0	Director	$0	$0	$0
Terry Cash	Board Member	1.0	Director	$0	$0	$0
Vic Bailey III	Board Member	1.0	Director	$0	$0	$0
Wellesley Alexander MD	Board Member	1.0	Director	$0	$22,654	$539,230
Bruce Davis	EVP/CFO	40.0	Key Emp	$1,081,140	$157,948	$1,239,088
Bruce Holstien	President/CEO	40.0	Key Emp	$1,860,115	$378,390	$2,238,505
Mark Aycock	VP-Operations	40.0	Key Emp	$1,296,151	$27,383	$1,323,534
Brett English	VP Finance	40.0	Highest	$418,841	$37,947	$456,788
David Church	FOUNDATION PRESIDENT	40.0	Highest	$472,588	$33,197	$505,785
Maria Williamson	VP-MARKETING	40.0	Highest	$457,169	$13,156	$470,325
Mary Jennings	CHIEF NURSING OFFICER-SMC	40.0	Highest	$421,725	$30,028	$451,753
Paul Newhouse	PRESIDENT-UMC	40.0	Highest	$351,745	$23,030	$374,775
Kenneth Meinke	EVP/CFO	40.0		$946,343	$30,028	$976,371

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	$473,759,564	$463,222,571	$78,430,719	$10,536,993
2023	$405,021,942	$399,365,996	$61,151,196	$5,655,946
2022	$335,907,316	$329,351,686	$51,496,580	$6,555,630
2021	$292,650,959	$286,479,565	$56,380,726	$6,171,394
2020	$237,715,064	$233,482,741	$39,656,964	$4,232,323
2019	$179,171,179	$175,605,657	$24,957,794	$3,565,522
2018	$72,348,631	$70,592,889	$10,970,363	$1,755,742