Civic Intelligence

Hendrick Anesthesia Network

990 • Fiscal year 2022 • EIN 75-2728889

Sep 01, 2021 to Aug 31, 2022 • Filed on Jan 25, 2023

PO Box 3117Abilene, TX 79604

(325) 670-2000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.42x

Higher debt load relative to assets than 72% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

41st percentile

0.15x

Higher debt load relative to revenue than 41% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

3rd percentile

-110%

Higher net margin than 3% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

98th percentile

$1,300,349

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 11.5% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

95th percentile

98%

Faster asset growth than 95% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

90th percentile

79%

Faster revenue growth than 90% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$4,052,857

Up $2,007,119 (+98%) from 2021

Net Assets

Up

$2,330,616

Up $2,166,165 (+1317%) from 2021

Liabilities

Down

$1,722,241

Down $159,046 (-8.5%) from 2021

Revenue

Up

$11,314,662

Up $4,998,246 (+79%) from 2021

Expenses

Up

$23,813,088

Up $7,936,850 (+50%) from 2021

Net Income

Down

-$12,498,426

Down $2,938,604 (-31%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $1,696,783Liabilities 2010: $1,694,047Net Assets 2010: $2,7362010Assets 2011: $1,891,330Liabilities 2011: $2,083,966Net Assets 2011: -$192,6362011Assets 2012: $1,999,995Liabilities 2012: $1,957,727Net Assets 2012: $42,2682012Assets 2013: $2,372,791Liabilities 2013: $2,280,960Net Assets 2013: $91,8312013Assets 2014: $541,255Liabilities 2014: $487,555Net Assets 2014: $53,7002014Assets 2015: $510,940Liabilities 2015: $552,163Net Assets 2015: -$41,2232015Assets 2016: $501,793Liabilities 2016: $312,445Net Assets 2016: $189,3482016Assets 2017: $482,617Liabilities 2017: $269,722Net Assets 2017: $212,8952017Assets 2018: $622,485Liabilities 2018: $758,219Net Assets 2018: -$135,7342018Assets 2019: $550,400Liabilities 2019: $855,476Net Assets 2019: -$305,0762019Assets 2020: $1,291,974Liabilities 2020: $1,383,264Net Assets 2020: -$91,2902020Assets 2021: $2,045,738Liabilities 2021: $1,881,287Net Assets 2021: $164,4512021Assets 2022: $4,052,857Liabilities 2022: $1,722,241Net Assets 2022: $2,330,6162022Assets 2023: $1,111,143Liabilities 2023: $2,277,470Net Assets 2023: -$1,166,3272023Assets 2024: $931,685Liabilities 2024: $1,657,684Net Assets 2024: -$725,9992024

Highlighted filing

2022

Assets$4,052,857
Liabilities$1,722,241
Net Assets$2,330,616

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2010: $10,745,8552010Expenses 2011: $10,933,6742011Expenses 2012: $10,987,2282012Expenses 2013: $11,806,4082013Revenue 2014: $9,937,307Expenses 2014: $11,774,835Net Income 2014: -$1,837,5282014Revenue 2015: $8,954,127Expenses 2015: $11,730,872Net Income 2015: -$2,776,7452015Revenue 2016: $8,450,137Expenses 2016: $11,753,522Net Income 2016: -$3,303,3852016Revenue 2017: $8,332,648Expenses 2017: $12,787,438Net Income 2017: -$4,454,7902017Revenue 2018: $8,898,500Expenses 2018: $13,246,138Net Income 2018: -$4,347,6382018Revenue 2019: $9,278,838Expenses 2019: $13,725,147Net Income 2019: -$4,446,3092019Revenue 2020: $9,599,193Expenses 2020: $14,233,915Net Income 2020: -$4,634,7222020Revenue 2021: $6,316,416Expenses 2021: $15,876,238Net Income 2021: -$9,559,8222021Revenue 2022: $11,314,662Expenses 2022: $23,813,088Net Income 2022: -$12,498,4262022Revenue 2023: $14,631,521Expenses 2023: $28,659,772Net Income 2023: -$14,028,2512023Revenue 2024: $15,309,662Expenses 2024: $30,140,752Net Income 2024: -$14,831,0902024

Highlighted filing

2022

Revenue$11,314,662
Expenses$23,813,088
Net Income-$12,498,426
Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
Jan 25, 2023
Return Version
2021v4.2
Gross Receipts
$11,314,662
Mission and Program Overview

Mission

To promote the health and welfare of the general public by providing quality healthcare to the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,035,863$3,878,988▲ $1,843,125
Savings and Temporary Cash Investments$9,875$173,869▲ $163,994
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$2,045,738$4,052,857▲ $2,007,119
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,488,529$1,722,241▲ $233,712
Deferred Revenue$252,865$0▼ $252,865
Other Liabilities$139,893$0▼ $139,893
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,881,287$1,722,241▼ $159,046
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$164,451$2,330,616▲ $2,166,165
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$164,451$2,330,616▲ $2,166,165
Total Liabilities and Net Assets / Fund Balance$2,045,738$4,052,857▲ $2,007,119
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Doug McewenDirectorFT$604,248$63,877$668,125
Stephen LowryDirectorFT$608,611$59,345$667,956
Brandon CaddellChairFT$603,839$60,507$664,346
Christopher ArmstrongDirectorFT$602,952$58,674$661,626
Russell HicksDirectorFT$609,636$49,245$658,881
Dennis CarterDirectorFT$591,874$63,016$654,890
Ray MartinDirectorFT$591,663$61,737$653,400
Jeremie PerryDirectorFT$587,438$60,577$648,015
Dickson FergusonDirectorFT$585,002$58,773$643,775
Michael SullivanDirectorFT$579,311$57,022$636,333
Bradley ButlerDirectorFT$567,886$39,104$606,990
Joseph EricksonDirectorFT$518,519$52,409$570,928
Brandon LeeCrnaFT$300,654$29,110$329,764
Priscilla KortynaCrnaFT$288,206$30,167$318,373
Jane NilsonCrnaFT$251,953$45,246$297,199
Trinity GalleCrnaFT$246,671$39,740$286,411
Marcella BryanCrnaFT$240,942$41,122$282,064

Board Members and Trustees

NameTitle
Brad HollandPresident
David StephensonVice President
Jeremy WalkerCFO
Michael MurphySecretary
Joe PearsonSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
LocumtenenscomContract LaborPO BOX 405547, Atlanta, GA 30384-5547$2,102,047
Weatherby HealthcareContract LaborPO BOX 972633, Dallas, TX 75397-2633$823,870
Scout Nursing StaffContract Labor1602 AVENUE Q, Lubbock, TX 79401-4732$503,527
Hayes Locums LLCContract LaborPO BOX 88122, Chicago, IL 60680-1122$405,730
Crna Locum JobsContract Labor15108 ANGUS COURT, Little Rock, AR 72210$223,838
Revenue and Support

Revenue Composition

Contributions and Grants
$1,241,095
Program Service Revenue
$10,072,405
Investment Income
$85
Other Revenue
$1,077
Change in Net Assets
$-12,498,426

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,314,662
Revenue Not Reported on Form 990
$-153,844
Total Revenue per Audited Statements
$11,160,818
Total Revenue per Form 990
$11,314,662
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$16,713,652
Other Expenses$7,099,436
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$7,735,266--$7,735,266
Other Salaries and Wages$7,680,251--$7,680,251
Fees for Services Other$6,602,714--$6,602,714
Payroll Taxes$566,809--$566,809
Other Employee Benefits$416,757--$416,757
Pension Plan Contributions$314,569--$314,569
Insurance$115,365--$115,365
All Other Expenses$12,869$31,486-$44,355
Other Expenses$34,422--$34,422
Office Expenses$9,221$8,799-$18,020
Travel$17,298$46-$17,344
Fees for Services Accounting-$12,900-$12,900
Fees for Services Management$11,713--$11,713
Total Functional Expenses$23,759,857$53,231$0$23,813,088

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$23,813,088
Expenses per Audited Statements$23,659,244
Total Expenses per Audited Statements$23,659,244
Expenses Not Reported on Financial Statements$153,844
Other Expense Adjustments$153,844
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Hendrick medical center is the sole member of hendrick anesthesia network.

Form 990, Part VI, Section A, Line 7A

Physicians who are employed by the entity shall have authority to nominate, from time to time, those physicians who shall serve as directors.

Form 990, Part VI, Section A, Line 7B

Article vii of the restated articles of incorporation provides, in part, that an amendment to article ii relating to the purpose of the corporation and article vi relating to the number and method of the election or appointment of the board of trustees shall occur only with the consent of the baptist general convention of texas or its executive board.

Form 990, Part VI, Section B, Line 11B

The organization engages an outside accounting firm to prepare form 990. Once prepared, the form is reviewed by the organization's internal accountants prior to filing.

Form 990, Part VI, Section B, Line 12C

The organization conducts, at a minimum, annual reviews of the possible conflicts of interest and other financial relationships identified under this conflict of interest policy.

Form 990, Part VI, Section B, Line 15A

A comprehensive review of compensation is conducted by an independent party at least every three years. This report presents the results of the analysis of salary, incentive, total cash compensation (salary plus incentive), benefits, and total compensation (total cash and benefits). Integrated healthcare strategies (ihs) works with the personnel committee to formally define an executive total compensation philosophy. Hendrick health system's current philosophy is to use ranges built around the median of the market with a 50% spread from minimum to maximum. Incentive opportunity levels are competitive with practices of peer groups and benefits will be delivered at market competitive levels. Severance and perquisites reflect a conservative philosophy. The committee determined that the peer group would be primarily regional not-for-profit hospitals of similar size and complexity. National peer group will be used for reference purposes where appropriate. The hendrick health system personnel committee is delegated the responsibility for the executive compensation program by the board of trustees. The committee: sets the overall executive compensation philosophy to be implemented by hendrick health system; sets compensation components for the president and ceo; reviews, discusses and makes decisions based on the president and ceo's recommendations for his direct reports; reports a summary of the process back to the board of trustees along with the actual compensation approved for the president and ceo; and approves all incentive goals and awards.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Form 990, Part VI, Section A, Line 1A

Material differences in voting rights: officers of hendrick medical center who are board members of hendrick anesthesia network are not voting members.

Filing and Contact Details

Filer

Filer Name
Hendrick Anesthesia Network
EIN
75-2728889
In Care Of
% JEREMY WALKER
Phone
3256702000
Address
PO BOX 3117, ABILENE, TX 79604

Signing Officer

Name
Jeremy Walker
Title
CFO
Phone
7134994600
Signed
2023-01-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brad Holland CEO
Formed
1997
Legal Domicile
TX
Voting Board Members
15
Independent Board Members
0
Employees
61
Volunteers
0

Preparer

Firm
Forvis Llp
Address
2700 Post Oak Blvd Ste 1500, HOUSTON, TX 77056
Preparer
Amanda Maya
Phone
7134994600
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other changes in net assets: transfer from affiliates $ 14,664,591

Form 990 Part IX Line 11G

Description:contract labor total fees:5051186

Form 990 Part IX Line 11G

Description:professional fees total fees:1146988

Form 990 Part IX Line 11G

Description:purchased services total fees:404540

Financial Statement Notes

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part XI, Line 2D

Reconciliation of audited financial statements to form 990 revenue on books not on return: bad debt expense $ (153,844)

Schedule D, Part XII, Line 4B

Reconciliation of audited financial statements to form 990 expense on return not on books: bad debt expense $ 153,844

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.93$1.66$0.73$15.3$30.1$14.8
2023Detailed filing. Detailed filing data is available for this year.$1.11$2.28$1.17$14.6$28.7$14.0
2022Detailed filing. Detailed filing data is available for this year.$4.05$1.72$2.33$11.3$23.8$12.5
2021Detailed filing. Detailed filing data is available for this year.$2.05$1.88$0.16$6.32$15.9$9.56
2020Detailed filing. Detailed filing data is available for this year.$1.29$1.38$0.09$9.60$14.2$4.63
2019Detailed filing. Detailed filing data is available for this year.$0.55$0.86$0.31$9.28$13.7$4.45
2018Detailed filing. Detailed filing data is available for this year.$0.62$0.76$0.14$8.90$13.2$4.35
2017Detailed filing. Detailed filing data is available for this year.$0.48$0.27$0.21$8.33$12.8$4.45
2016Detailed filing. Detailed filing data is available for this year.$0.50$0.31$0.19$8.45$11.8$3.30
2015Detailed filing. Detailed filing data is available for this year.$0.51$0.55$0.04$8.95$11.7$2.78
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.49$0.05$9.94$11.8$1.84
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$2.28$0.09$11.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.00$1.96$0.04$11.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.89$2.08$0.19$10.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$1.69$0.00$10.7