Portercare Adventist Health System

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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

1930

Legal Domicile

Principal Officer

Brett Spenst

Phone

3037656861

Tax Period

2022-07-01 to 2023-06-30

Portercare Adventist Health System, founded in 1930, is a large national nonprofit in the Health Care sector that reported $1.5B in total revenue in fiscal year 2022. Expenses of $1.5B left a modest 4% surplus.

Mission

We extend the healing ministry of Christ by caring for those who are ill and by nurturing the health of the people in our communities.

Program Service Accomplishments

Program 1

Expenses: $1,241,321,768 Revenue: $1,522,056,246

Operation of 5 acute care hospitals with 34,115 patient admissions, 149,432 patient days and 302,938 outpatient visits in the current year. In addition to hospital operations, the corporation...

Operation of 5 acute care hospitals with 34,115 patient admissions, 149,432 patient days and 302,938 outpatient visits in the current year. In addition to hospital operations, the corporation provides medical care through a number of other activities such as urgent care centers, physician clinics, home health services, hospice services, sleep centers, wound centers, therapy and rehab.

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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 (2022)

Revenue Breakdown

Contributions & Grants $352,291

Program Service Revenue $1,514,190,632

Investment Income $11,152,807

Other Revenue $10,341,453

TOTAL REVENUE $1,536,037,183

Expense Breakdown

Grants Paid $2,386,590

Salaries & Benefits $571,928,748

Fundraising Expenses $0

Program Expenses $1,241,321,768

Other Expenses $894,231,813

TOTAL EXPENSES $1,468,547,151

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,536,037,183	$1,484,227,840	+0.0%
Expenses	$1,468,547,151	$1,370,076,693	+0.1%
Net Income	$67,490,032	$114,151,147	-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

6878

Volunteers

706

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

$3,395,713

Total Directors

$5,367,011

Key Employees

$5,497,581

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rathbun Paul	Board Member / AH CFO	1.00	Director	$0	$211,956	$2,747,966
Bacon Kenneth	Board Chairman/AH CEO Multi State	5.00	Director	$0	$290,272	$1,911,910
Houmann Lars	Board Member	1.00	Director	$0	$13,112	$695,984
Thurber Gary	Board Member	1.00	Director	$0	$0	$6,063
Thurber John Mic	Board Member	1.00	Director	$0	$0	$5,088
Enderson Dan	Secretary-Group President	5.00	Officer	$0	$256,943	$1,916,310
Gaasch Andrew	Treasurer/CFO	5.00	Officer	$0	$215,974	$1,479,403
Goebel Michael	CEO Parker Adventist Hospital	50.00	Key Emp	$0	$135,883	$1,015,701
Folkenberg Todd	CEO Porter Adventist Hospital	50.00	Key Emp	$0	$134,932	$894,457
Sendros Isaac	CEO Avista Adv Hosp(end 2/23)	50.00	Key Emp	$0	$107,665	$658,594
Pittman Jeremy	CEO Castle Rock Adv Hospital	50.00	Key Emp	$0	$89,615	$531,331
Travis Carol	CFO Avista Adv Hospital	50.00	Key Emp	$0	$36,569	$389,720
Ward Erin	CFO Parker Adv Hospital	50.00	Key Emp	$0	$7,212	$354,575
Whitlock Andrew	CFO Porter Adv Hosp(beg 12/22)	50.00	Key Emp	$0	$36,569	$231,085
Dodds Rick	CEO Littleton Adv Hospital	50.00	Key Emp	$0	$76,509	$870,873
Gal Matt	CFO Castle Rock Adv Hospital	50.00	Key Emp	$0	$8,095	$280,668
Still Danae	CFO Littleton(beg 2/23)	50.00	Key Emp	$0	$40,111	$270,577
Miner MD Todd	Orthopedic Surgeon	50.00	Highest	$1,200,856	$35,142	$1,235,998
Yang MD Charlie	Orthopedic Surgeon	50.00	Highest	$1,216,204	$37,920	$1,254,124
Jennings MD Jason	Orthopedic Surgeon	50.00	Highest	$1,398,131	$41,270	$1,439,401
Sanchez II MD Anthony	Orthopedic Surgeon	50.00	Highest	$1,107,538	$37,656	$1,145,194
Rajpal Sharad	Neuro Surgeon	50.00	Highest	$1,004,601	$11,942	$1,016,543
Banko Peter	Former President CHC	0.00		$0	$771,093	$4,505,270
Dean Morre	Former Officer/CIO	0.00		$0	$22,337	$610,730
Huenergardt Samuel	Former Key Emp/CEO Mid-America	0.00		$0	$193,052	$1,274,018
McKinney Jillyan	Former Key Emp/CEO AHMG Central FL	0.00		$0	$128,575	$765,092
Fisher Jonathan	Former Key Emp/CFO Wesley	0.00		$0	$103,582	$448,927
Beckner Michelle	Former CFO Littleton	0.00		$0	$31,708	$351,137

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	No data	No data	No data	No data
2023	$1,536,037,183	$1,468,547,151	$1,992,859,331	$67,490,032
2023	$731,175,522	$824,419,557	$1,847,895,763	$-93,244,035
2022	$1,484,227,840	$1,370,076,693	$1,937,409,919	$114,151,147
2021	$1,421,605,812	$1,323,940,436	$2,016,681,749	$97,665,376
2020	$1,249,249,565	$1,190,676,059	$1,854,648,345	$58,573,506
2019	$1,324,358,723	$1,212,250,476	$1,727,435,014	$112,108,247
2018	$1,238,499,806	$1,164,649,755	$1,578,342,186	$73,850,051