Triad Health Systems Inc

Nonprofit profile at a glance

EIN
208963925
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Warsaw, KY, USA
Phone
8595671271
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$9,380,768
Expenses
$11,005,329
Assets
$9,746,682
Liabilities
$4,762,779

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • ADAM CRAFT (CEO)

Highest reported compensation

  • ERIC BAUMANN (PHYSICIAN/MEDICAL DIRECTOR): $331,503 total reported compensation
  • DOUG SMALARA (PHYSICIAN/MEDICAL DIRECTOR): $305,654 total reported compensation
  • LARRY JOHNSON (PHYSICIAN): $294,532 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To meet the needs of the underserved by promoting wellness and prevention and providing the highest quality medical services possible for the three county areas of carroll, owen, and gallatin.

What it reported doing in 2024

Provide medical, mental health, dental, and optometry services to the residents of gallatin, owen and carroll counties with an emphasis on services to the uninsured and underinsured. The system provided approximately $114,316 in charity care.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 69.3%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -17.3%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.89; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 17.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 15.1% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 19.5% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 69.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.6M in reported program spending
  • Leadership: top reported pay $332K · 20 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $149K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 8/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.