Owensboro Health Twin Lakes Regional Medical Center Inc

EIN: 853033915 501(c)(3) Health Care

Owensboro, KY

Total Revenue
$72,093,592
Total Expenses
$58,729,029
Total Assets
$145,817,446
Net Assets
$48,984,035
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Organization Details

Formation Year
2020
Legal Domicile
KY
Phone
2702599400
Tax Period
2024-06-01 to 2025-05-31

Owensboro Health Twin Lakes Regional Medical Center Inc, founded in 2020, is a mid-sized nonprofit in the Health Care sector that reported $72.1M in total revenue in fiscal year 2024. The organization ran a surplus of $13.4M, a strong 19% operating margin.

Mission

OWENSBORO HEALTH TWIN LAKES MEDICAL CENTER EXISTS TO HEAL THE SICK AND TO IMPROVE THE HEALTH OF THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1
Expenses: $53,704,278 Revenue: $71,109,609

OWENSBORO HEALTH TWIN LAKES MEDICAL CENTER ("OHTLMC") IS A 75 BED HOSPITAL BASED IN LEITCHFIELD, KY, ABOUT 65 MILES SOUTHEAST OF OWENSBORO. THE SERVICE AREA COMPRISES 115,000 PEOPLE FROM SIX...

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OWENSBORO HEALTH TWIN LAKES MEDICAL CENTER ("OHTLMC") IS A 75 BED HOSPITAL BASED IN LEITCHFIELD, KY, ABOUT 65 MILES SOUTHEAST OF OWENSBORO. THE SERVICE AREA COMPRISES 115,000 PEOPLE FROM SIX COUNTIES: GRAYSON (PRIMARY), BRECKINRIDGE, OHIO, BUTLER, EDMONSON, HART, AND HARDIN. OWENSBORO HEALTH, INC. ("OH") WHOLLY OWNS AND CONTROLS OHTLMC AND IS NOT A MEMBER OF THE OBLIGATED GROUP. OHTLMC'S PRIMARY ACTIVITY CONSISTS OF PROVIDING MEDICAL AND PATIENT CARE SERVICES IN ITS MAIN HOSPITAL, SERVING SIX COUNTIES, IN SUPPORT OF OH. THE SOLE MEMBER OF OHTLMC IS OH. OUR MEDICAL SERVICES ARE DELIVERED BY HIGHLY SKILLED PHYSICIANS ALONG WITH A CARING AND COMPASSIONATE NURSING STAFF. IN MAY 2023, OHTLMC OPENED ITS NEW INPATIENT 12-BED GERIATRIC BEHAVIORAL HEALTH UNIT. THE UNIT IS SPECIFICALLY DESIGNED TO PROVIDE MENTAL HEALTH SERVICES FOR THE AGING POPULATION. THE GOAL IS TO HELP OLDER ADULTS EXPERIENCE LESS DISRUPTIVE BEHAVIORS AND SLOW THEIR RATE OF COGNITIVE DECLINE. FOR THE FISCAL YEAR 2025, OHTLMC HAD TOTAL ADMISSIONS OF 1,601, PATIENT DAYS OF 6,588 AND TOTAL ER VISITS OF 19,954. COST OF PARTICIPATING IN GOVERNMENT PROGRAMS: OHTLMC IS COMMITTED TO SERVING ALL PERSONS IN NEED, REGARDLESS OF RACE, CREED, SEX, NATIONALITY, RELIGION, DISABILITY, AGE OR ABILITY TO PAY. TO PROMOTE ACCESS TO CARE, OHTLMC PARTICIPATES IN THE FOLLOWING PUBLIC HEALTH PROGRAMS: MEDICAID, MEDICARE, TRICARE AND LOCAL HEALTH DEPARTMENTS. IN GENERAL, PAYMENTS FROM THESE PROGRAMS FREQUENTLY DO NOT COVER THE COSTS OHTLMC INCURS TO SERVE PROGRAM BENEFICIARIES. UNCOMPENSATED CARE AND FINANCIAL ASSISTANCE: OHTLMC PROVIDES MEDICAL CARE WITHOUT CHARGE OR AT REDUCED COST TO RESIDENTS OF THE COMMUNITIES THAT IT SERVES. OHTLMC'S FINANCIAL ASSISTANCE PROGRAM WAS ESTABLISHED TO ASSIST PATIENTS WHO DO NOT QUALIFY FOR MEDICAL ASSISTANCE PROGRAMS, LIKE MEDICAID, AND WHOSE ANNUAL INCOMES ARE AT OR BELOW CERTAIN PERCENTAGES OF THE FEDERAL POVERTY GUIDELINES. OHTLMC IS COMMITTED TO EXPANDING ITS PROGRAMS TO IMPROVE ACCESS TO HEALTH CARE IN THE AREAS IT SERVES, WHICH INCLUDE RURAL AND ECONOMICALLY DEPRESSED AREAS AND AREAS THAT LACK ADEQUATE NUMBERS OF PRIMARY CARE AND SPECIALTY PROVIDERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $55,134
Program Service Revenue $71,056,093
Investment Income $0
Other Revenue $982,365
TOTAL REVENUE $72,093,592

Expense Breakdown

Grants Paid $15,880
Salaries & Benefits $24,555,172
Fundraising Expenses $0
Program Expenses $53,704,278
Other Expenses $34,157,977
TOTAL EXPENSES $58,729,029

Year-over-Year Comparison

2024 2023 Change
Revenue $72,093,592 $73,294,481 0.0%
Expenses $58,729,029 $58,639,106 +0.0%
Net Income $13,364,563 $14,655,375 -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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Governance

Voting Members
9
Independent Members
7
Employees
456
Volunteers
38

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
5
$2,519,364
Total Directors
10
$2,098,479
Key Employees
2
$580,225
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GLENNA BLACK SECRETARY 1.0
Officer Director
$0 $0 $0
LAURA CHAPMAN BOARD CHAIRPERSON 1.0
Officer Director
$0 $0 $0
MARK MARSH PRESIDENT AND CEO 2.0
Officer Director
$0 $63,070 $1,394,120
RUSSELL S RANALLO BOARD TREASURER, CHIEF FINANCIAL OFFICER 2.0
Officer Director
$0 $95,325 $704,359
CHRIS LOVE BOARD MEMBER (TERMED 10/31/2024) 1.0
Director
$0 $0 $0
DONNA VANMETER BOARD MEMBER 1.0
Director
$0 $0 $0
MATT HAYES BOARD MEMBER 1.0
Director
$0 $0 $0
MICHAEL SCHERM MD BOARD MEMBER (EFFECTIVE 11/25/24) 1.0
Director
$0 $0 $0
SCOTT MAJORS BOARD MEMBER 1.0
Director
$0 $0 $0
TISH CORREA OSBORNE BOARD MEMBER 1.0
Director
$0 $0 $0
ASHLEY HERRINGTON CEO - OHTLMC 45.0
Officer
$370,083 $50,802 $420,885
CATHERINE CLEMONS VP OF OPERATIONS - OHTLMC 45.0
Key Emp
$232,919 $23,502 $256,421
CATHY STEWART VP PATIENT CARE SVCS AND CNO - OHTLMC 45.0
Key Emp
$243,090 $80,714 $323,804
ANGELA M GIBSON DIRECTOR OF PHARMACY 50.0
Highest
$187,247 $18,386 $205,633
CHLOE ADAMS CLINICAL PHARMACIST 50.0
Highest
$130,990 $37,938 $168,928
JEREMY NEWTON MANAGER OF PHARMACY 50.0
Highest
$125,301 $25,017 $150,318
LINSEY LOGSDON MANAGER OF NURSING 50.0
Highest
$120,654 $15,136 $135,790
TODD BULLOCK NURSE PRACTITIONER 50.0
Highest
$143,976 $17,757 $161,733
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
2025 $72,093,592 $58,729,029 $145,817,446 $13,364,563
2024 $73,294,481 $58,639,106 $140,520,348 $14,655,375
2023 $63,065,522 $50,312,873 $83,782,092 $12,752,649
2022 $56,278,932 $48,430,350 $55,501,629 $7,848,582
2021 $21,369,566 $21,004,481 $49,384,321 $365,085
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