AdventHealth Polk North 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

2019

Legal Domicile

Principal Officer

Tim Clark

Phone

8634224971

Tax Period

2023-01-01 to 2023-12-31

AdventHealth Polk North Inc, founded in 2019, is a major nonprofit that reported $282.6M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $243.5M left a modest 14% surplus.

Mission

Adventist Health System Sunbelt Healthcare Corporation and all its subsidiary organizations were established by the Seventh-Day Adventist Church to bring a ministry of healing and health to the communities served. Our mission is to extend the healing ministry of Christ.The hospital and healthcare system whose parent is Adventist Health System Sunbelt Healthcare Corporation is known as AdventHealth. AdventHealth seeks to be widely respected as a consumer-focused organization that engages individuals in their health by delivering wholistic, best practice care across a connected, comprehensive continuum of services. With Christ as our example, AdventHealth cares for and nurtures people: our employees, our communities, our healthcare professionals, and those who trust us for care and healing.

Program Service Accomplishments

Program 1

Expenses: $225,920,505 Revenue: $277,108,737

Operation of a 202-bed acute care hospital located in Polk County, FL. During the current year there were 9,490 patient admissions, 40,808 patient days, and 92,778 outpatient visits.

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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 $4,328,750

Program Service Revenue $277,108,737

Investment Income $1,210,562

Other Revenue $0

TOTAL REVENUE $282,648,049

Expense Breakdown

Grants Paid $57,192

Salaries & Benefits $101,878,006

Fundraising Expenses $0

Program Expenses $225,920,505

Other Expenses $141,553,584

TOTAL EXPENSES $243,488,782

Year-over-Year Comparison

	2023	2022	Change
Revenue	$282,648,049	$252,795,505	+0.1%
Expenses	$243,488,782	$227,814,104	+0.1%
Net Income	$39,159,267	$24,981,401	+0.6%

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

1980

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

$2,398,558

Total Directors

$5,422,586

Key Employees

$1,941,032

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Adams Brian	Former Officer	0.00		$0	$183,603	$1,409,460
Wandersleben Jennifer	Director/Chair/President	8.90	Officer Director	$0	$161,468	$1,381,811
Hilliard Doug	Director	0.20	Director	$0	$131,368	$1,098,912
Harcombe Doug	Director	0.20	Director	$0	$128,222	$936,804
Dunkel Jason	Director	0.20	Director	$0	$91,439	$721,829
Heinrich William	Former Officer	0.00		$0	$94,418	$697,978
Clark Tim	Director/CEO Polk Mkt	25.00	Officer Director	$0	$114,781	$662,923
Hagensicker Janice	Director (End 07/23)	0.20	Director	$0	$27,317	$617,851
Keller-Pickford Aimee	COO (End 02/23)	50.00	Key Emp	$0	$39,169	$509,194
Fernandez Duarte Jose	CMO - Polk Mkt	25.00	Key Emp	$0	$86,636	$504,451
Hengesbach Justin	CFO - Polk Mkt	25.00	Officer	$0	$45,612	$353,824
Ankoviak Jo Ann	CNO	50.00	Key Emp	$0	$35,424	$352,200
Hess Julie	COO (Beg 05/23)	50.00	Key Emp	$0	$40,393	$331,601
Cottage Jason	Assistant Nurse Manager	0.00	Highest	$203,559	$41,404	$244,963
Lassel Rachel	CNO (End 01/23)	50.00	Key Emp	$0	$30,366	$243,586
Nolan Aaron	Director of Emergency Nursing	40.00	Highest	$181,110	$42,019	$223,129
Bichachi Joshua	Director of Pharmacy	40.00	Highest	$206,878	$10,362	$217,240
Ace Jose	Registered Nurse	0.00	Highest	$188,642	$22,317	$210,959
Phillips LaTosha	Director of Nursing	0.00	Highest	$191,694	$8,898	$200,592
Gordon Anthony	Director (End 12/23)	0.20	Director	$614	$0	$614
Guth Jim	Director	0.20	Director	$614	$0	$614
Littleton Greg	Director	0.20	Director	$614	$0	$614
Nelson James	Director	0.20	Director	$614	$0	$614

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	$282,648,049	$243,488,782	$362,912,253	$39,159,267
2022	$252,795,505	$227,814,104	$319,623,349	$24,981,401
2019	$43,324,459	$50,770,579	$191,610,634	$-7,446,120