Kevin Kelbly

Kevin Kelbly is the Chief Financial Officer of Carroll Hospital in Westminster, Maryland, where he also holds the title of Senior Vice President of Corporate and Fiscal Affairs. He joined the organization in 1990 as Vice President of Finance and rose to the CFO role, giving him more than three decades of tenure with the institution. He also serves as Chief Financial Officer of Carroll Health Group, LLC, the hospital's affiliated physician-practice entity.

Before joining Carroll Hospital, Kelbly was Controller of Montgomery General Hospital in Olney, Maryland. He earned a bachelor's degree in business administration from the College of William and Mary in Williamsburg, Virginia, and a master's degree in administrative science from The Johns Hopkins University in Baltimore.

Carroll Hospital is part of LifeBridge Health, a Baltimore-area nonprofit health system; corporate records also list Kelbly in a former VP/CFO capacity associated with Northwest Hospital, another LifeBridge facility. His work is squarely in nonprofit hospital finance — balance-sheet management, bond ratings, and operating results — rather than startup or venture investing.

Under Kelbly's financial leadership, Carroll Hospital Center drew favorable notice for its fiscal management. Moody's Investors Service affirmed the hospital's "A3" bond rating with a stable outlook, and the organization reported a strong balance sheet with 195 days cash on hand as of June 30, 2013, and roughly a 12.2 percent operating cash flow margin in fiscal year 2013.

• No documented startup/angel investment thesis exists for Kevin Kelbly. His professional focus is institutional hospital finance, not equity investing in early-stage companies.
• Areas of demonstrated expertise: hospital operating margins, days-cash-on-hand and liquidity management, tax-exempt bond financing and credit ratings (Moody's "A3"), and physician-group (Carroll Health Group) financial oversight.
• If contacted in his actual professional capacity, the relevant "thesis" is fiscal stewardship of a nonprofit health system — capital budgeting, cost control, and maintaining strong operating results — rather than check-writing into ventures.