COVENANT HOSPITAL HOBBS (EIN 844273963) - 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

2019

Legal Domicile

Principal Officer

RACHEL SLADE

Phone

5754925000

Tax Period

2024-01-01 to 2024-12-31

COVENANT HOSPITAL HOBBS, founded in 2019, is a mid-sized nonprofit in the Health Care sector that reported $51.2M in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $74.1M exceeded revenue, resulting in a 45% operating deficit.

Mission

AS EXPRESSIONS OF GOD'S HEALING LOVE, WITNESSED THROUGH THE MINISTRY OF JESUS, WE ARE STEADFAST IN SERVING ALL, ESPECIALLY THOSE WHO ARE POOR AND VULNERABLE.

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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 $2,684,430

Program Service Revenue $47,651,119

Investment Income $50,222

Other Revenue $768,717

TOTAL REVENUE $51,154,488

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,926,054

Fundraising Expenses $0

Program Expenses $71,378,244

Other Expenses $58,188,764

TOTAL EXPENSES $74,114,818

Year-over-Year Comparison

	2024	2023	Change
Revenue	$51,154,488	$39,769,109	+0.3%
Expenses	$74,114,818	$59,813,796	+0.2%
Net Income	$-22,960,330	$-20,044,687	+0.1%

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

227

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

$1,031,707

Total Directors

$940,114

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE WHITE	BOARD MEMBER	0.50	Director	$0	$73,911	$514,499
JAMES KELLY	FRMR OFF. - VP SENIOR CORP COUNSEL	0.00		$0	$13,669	$509,442
JON LEVIN	BOARD MEMBER	0.50	Director	$0	$17,057	$425,615
DYANA KERR	FRMR OFF. - REGIONAL CFO	0.00		$0	$38,627	$375,482
DONALD ANDERSON JR	ASSISTANT SECRETARY FOR ENROLLMENT	0.50	Officer	$0	$18,932	$335,486
JENNIFER BRYAN	FRMR OFF. - LUBBOCK AREA MARKET/CFO	0.00		$0	$28,590	$314,564
RACHEL SLADE	CEO	55.00	Officer	$260,146	$22,800	$282,946
CORA RIVERA	CFO	18.40	Officer	$0	$24,199	$233,225
KATHLEEN BURRELL	SECRETARY/CHIEF GOVERNANCE OFFICER	0.50	Officer	$0	$15,437	$180,050
KIMBERLY MADRID	SUPERVISOR CLINICAL PHARMACY	50.00	Highest	$163,304	$10,760	$174,064
STACY VOYLES	MANAGER NURSING	50.00	Highest	$144,784	$10,802	$155,586
ALLAN YEH	CLINICAL PHARMACIST	50.00	Highest	$148,376	$4,955	$153,331
HAZEL APODACA	ACUTE CARE RN	50.00	Highest	$143,192	$8,986	$152,178
BECKY BERG	MANAGER NURSING	50.00	Highest	$142,458	$9,278	$151,736
CARABETH GRAY MOORE	BOARD MEMBER	0.50	Director	$0	$0	$0
DEBRA HICKS	BOARD MEMBER	0.50	Director	$0	$0	$0
JOE COTTON	BOARD MEMBER	0.50	Director	$0	$0	$0
JONATHAN SENA	BOARD MEMBER/CHAIR	1.00	Director	$0	$0	$0
JOSH GRASSHAM	BOARD MEMBER/VICE CHAIR	1.00	Director	$0	$0	$0
ROSA CARILLO	BOARD MEMBER	0.50	Director	$0	$0	$0

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	$51,154,488	$74,114,818	$113,407,068	$-22,960,330
2023	$39,769,109	$59,813,796	$126,687,571	$-20,044,687
2022	$48,687,075	$48,672,033	$133,798,245	$15,042
2021	$44,968,348	$46,933,067	$41,744,699	$-1,964,719
2020	No data	$107,278	$3,237,580	No data

COVENANT HOSPITAL HOBBS