Cottage Hospital (EIN 020223321) - 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

1903

Legal Domicile

Principal Officer

Holly McCormack

Phone

6037479000

Tax Period

2024-10-01 to 2025-09-30

Cottage Hospital, founded in 1903, is a mid-sized nonprofit in the Health Care sector that reported $45.7M in total revenue in fiscal year 2024. Expenses of $44.0M left a modest 4% surplus.

Mission

Medical care and related services

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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 $4,247,820

Program Service Revenue $39,113,481

Investment Income $2,283,705

Other Revenue $66,827

TOTAL REVENUE $45,711,833

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,609,278

Fundraising Expenses $0

Program Expenses $35,170,591

Other Expenses $19,424,924

TOTAL EXPENSES $44,034,202

Year-over-Year Comparison

	2024	2023	Change
Revenue	$45,711,833	$42,673,071	+0.1%
Expenses	$44,034,202	$43,817,268	+0.0%
Net Income	$1,677,631	$-1,144,197	-2.5%

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

380

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

$937,259

Total Directors

$802,494

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Clare Vallee	Chairperson	1.00	Officer Director	$0	$0	$0
Andrew Barter	Vice Chair	1.00	Officer Director	$0	$0	$0
William Taxter	Secretary	1.00	Officer Director	$0	$0	$0
Maryanne Aldrich	Trustee	1.00	Director	$0	$0	$0
Derek Curtis	Trustee	1.00	Director	$0	$0	$0
Jesse Dimick	Trustee	1.00	Director	$0	$0	$0
Randy Foster	Trustee	1.00	Director	$0	$0	$0
Ian Kirit	Trustee	1.00	Director	$0	$0	$0
Rebecca Zampieri	Trustee	1.00	Director	$0	$0	$0
Mark Harris	Past Trustee	1.00	Director	$0	$0	$0
Holly McCormack	CEO	40.00	Officer Director	$253,823	$43,978	$297,801
E Colin McDougal	Med Staff President	40.00	Director	$245,204	$10,040	$255,244
James Wilton	Med Staff Secretary	40.00	Director	$215,779	$33,670	$249,449
Delphine Sullivan	CMO	40.00	Officer	$269,493	$9,163	$278,656
Ann Duffy	CFO	40.00	Officer	$195,007	$25,047	$220,054
Natalie Kennett	CNO	40.00	Officer	$134,252	$6,496	$140,748
Nathan Potter	Physician ED	40.00	Highest	$448,037	$29,995	$478,032
Jeffrey Hanissian	Chief Of ED	40.00	Highest	$417,906	$42,490	$460,396
Christopher Danielson	Physician RHC	40.00	Highest	$370,008	$51,786	$421,794
Russell Sarver	Physician-Urology	40.00	Highest	$353,027	$19,238	$372,265
Peter B Schroer	Physician RHC	40.00	Highest	$337,381	$38,576	$375,957
Lili Cargill	Former Med Staff President	40.00		$159,586	$0	$159,586

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	$45,711,833	$44,034,202	$36,071,557	$1,677,631
2024	$42,673,071	$43,817,268	$37,828,101	$-1,144,197
2023	$41,478,609	$42,171,933	$37,311,075	$-693,324
2022	$38,166,718	$40,491,066	$38,805,493	$-2,324,348
2021	$41,926,770	$38,583,527	$42,210,200	$3,343,243
2020	$36,145,158	$35,303,732	$41,461,746	$841,426
2019	$34,968,158	$34,209,587	$33,556,630	$758,571
2018	$33,336,256	$33,943,828	$32,123,774	$-607,572

Cottage Hospital