WILKES MEDICAL CENTER FOUNDATION (EIN 822345613) - 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

2017

Legal Domicile

Principal Officer

LEE HERRING

Phone

3368381111

Tax Period

2024-01-01 to 2024-12-31

WILKES MEDICAL CENTER FOUNDATION, founded in 2017, is a small nonprofit in the Health Care sector that reported $495K in total revenue in fiscal year 2024. Revenue fell 42% from the prior year — a significant decline worth monitoring. Expenses of $900K exceeded revenue, resulting in a 82% operating deficit.

Mission

TO SUPPORT AND CARRY OUT THE FUNCTIONS AND PURPOSES OF WRMC HOSPITAL OPERATING CORPORATION (DBA ATRIUM HEALTH WAKE FOREST BAPTIST WILKES MEDICAL CENTER) TO ENHANCE THE DELIVERY OF QUALITY HEALTH CARE WITHIN THE ORGANIZATION'S REGION.

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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 $11,613

Program Service Revenue $0

Investment Income $483,774

Other Revenue $0

TOTAL REVENUE $495,387

Expense Breakdown

Grants Paid $822,348

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $861,236

Other Expenses $77,775

TOTAL EXPENSES $900,123

Year-over-Year Comparison

	2024	2023	Change
Revenue	$495,387	$849,018	-0.4%
Expenses	$900,123	$617,037	+0.5%
Net Income	$-404,736	$231,981	-2.7%

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

$341,764

Total Directors

$186,706

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANN ABSHER	DIRECTOR	2.00	Director	$0	$0	$0
HOLLY MINTON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JIM SANDERS	DIRECTOR	2.00	Director	$0	$0	$0
LORI MCNEIL	SECRETARY	2.00	Officer Director	$0	$30,101	$83,011
SUSAN COGDILL	DIRECTOR	2.00	Director	$0	$0	$0
A LEE HERRING	DIRECTOR (TO 12/11/24)	2.00	Director	$0	$0	$0
ZACH LUFFMAN	CHAIR	2.00	Officer Director	$0	$0	$0
MICK ZULPO	DIRECTOR	2.00	Director	$0	$0	$0
JACKIE MALLORY	DIRECTOR	2.00	Director	$0	$0	$0
GRAYLIN CARLTON	DIRECTOR	2.00	Director	$0	$31,209	$103,695
BARRY WALD	TREASURER (TO 10/25/24)	2.00	Officer	$0	$31,006	$258,753

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	$495,387	$900,123	$13,816,625	$-404,736
2023	$849,018	$617,037	$11,569,482	$231,981
2022	$1,606,685	$397,719	$11,035,400	$1,208,966
2021	$1,442,177	$336,195	$11,111,972	$1,105,982
2021	$1,352,225	$533,159	$9,932,717	$819,066
2020	$1,125,475	$98,439	$6,846,112	$1,027,036
2019	$788,469	$96,245	$5,694,228	$692,224
2018	$5,060,540	$7,640	$5,050,438	$5,052,900

WILKES MEDICAL CENTER FOUNDATION