The Elliot Hospital of the City of Manchester (EIN 020232673) - 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

1942

Legal Domicile

Principal Officer

William G Baxter

Phone

6036632033

Tax Period

2023-07-01 to 2024-06-30

The Elliot Hospital of the City of Manchester, founded in 1942, is a major nonprofit in the Health Care sector that reported $736.7M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $649.8M left a modest 12% surplus.

Mission

Hospital 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 (2023)

Revenue Breakdown

Contributions & Grants $14,788,073

Program Service Revenue $709,334,033

Investment Income $7,842,189

Other Revenue $4,719,169

TOTAL REVENUE $736,683,464

Expense Breakdown

Grants Paid $737,125

Salaries & Benefits $256,410,883

Fundraising Expenses $0

Program Expenses $479,063,296

Other Expenses $392,623,749

TOTAL EXPENSES $649,771,757

Year-over-Year Comparison

	2023	2022	Change
Revenue	$736,683,464	$676,586,588	+0.1%
Expenses	$649,771,757	$580,261,281	+0.1%
Net Income	$86,911,707	$96,325,307	-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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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

3611

Volunteers

175

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

$4,852,835

Total Directors

$5,511,391

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Marina Feldman MD	Trustee	1.00	Director	$0	$47,849	$845,963
William G Baxter	President & CEO	41.00	Officer Director	$1,787,964	$206,206	$1,994,170
Carl Fier MD	Trustee	1.00	Director	$0	$41,890	$978,827
Nancy Hursarik MD	Trustee (end 2/2024)	1.00	Director	$0	$38,181	$276,447
Marjan Makatam-Abrams MD	Trustee (end 2/2024)	1.00	Director	$0	$33,678	$349,008
Todd Burdette MD	Trustee (eff. 2/2024)	1.00	Director	$0	$40,966	$694,211
Joyia Fazelat MD	Trustee (eff. 2/2024)	1.00	Director	$0	$42,270	$372,765
David Bellman	Trustee	1.00	Director	$0	$0	$0
David Cuzzi	Trustee	1.00	Director	$0	$0	$0
Richard Fisher	Trustee (start 2/2024)	1.00	Director	$0	$0	$0
Charles Goodwin	Trustee	1.00	Director	$0	$0	$0
Lara Hanlon MD	Trustee (start 2/2024)	1.00	Director	$0	$0	$0
James C Hood Esq	Trustee (end 1/2024)	1.00	Director	$0	$0	$0
Linda Lassonde	Trustee	1.00	Director	$0	$0	$0
Andrew MacWilliam	Trustee (start 2/2024)	1.00	Director	$0	$0	$0
Priscilla Marsicovetere	Trustee (start 2/2024)	1.00	Director	$0	$0	$0
Heidi Meinz MD	Trustee (end 2/2024)	1.00	Director	$0	$0	$0
John Mercier	Trustee (end 2/2024)	1.00	Director	$0	$0	$0
Daniel M Monfried	Trustee (end 2/2024)	1.00	Director	$0	$0	$0
Selma Naccah-Hoff	Trustee (start 2/2024)	1.00	Director	$0	$0	$0
Charles F Rolecek	Trustee (end 1/2024)	1.00	Director	$0	$0	$0
Philip Taub	Trustee	1.00	Director	$0	$0	$0
James J Tenn Jr Esq	Chair/Trustee	1.00	Officer Director	$0	$0	$0
Loretta LC Brady PhD	Vice Chair/Trustee	1.00	Officer Director	$0	$0	$0
Robert Fremeau DMD	Treasurer/Trustee	1.00	Officer Director	$0	$0	$0
Stephen Langan	Treasurer/Trustee (end 2/2024)	1.00	Officer Director	$0	$0	$0
Paul W Hoff PhD	Secretary/Trustee (end 2/2024)	1.00	Officer Director	$0	$0	$0
Karen Van Der Beken	Secretary/Trustee	1.00	Officer Director	$0	$0	$0
Michael Turilli	SVP/CFO, SolutionHealth	1.00	Officer	$0	$110,268	$707,877
Brad Kreick	Pres./CEO, SolutionHealth (end 4/24)	1.00	Officer	$0	$197,518	$1,466,807
John E Friberg Esq	Interim CEO, SolutionHealth	40.00	Officer	$0	$115,687	$683,981
Joseph T Curti	Chief Operating Officer	40.00	Highest	$573,246	$41,945	$615,191
Kevin Desrosiers MD	CMO & EMG Acute Care Services	40.00	Highest	$561,059	$44,530	$605,589
Martha Leighton MD	Senior VP & CNO	40.00	Highest	$359,700	$22,496	$382,196
Holly Mintz	SVP, CMO, EMG Ambulatory Care	40.00	Highest	$526,819	$38,083	$564,902
Shawn Stapp DO	SVP, CMO, EMG Ambulatory Care	40.00	Highest	$399,476	$45,244	$444,720

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	No data	No data	No data	No data
2024	$736,683,464	$649,771,757	$706,210,829	$86,911,707
2023	$676,586,588	$580,261,281	$662,848,004	$96,325,307
2022	$634,706,089	$530,502,382	$647,940,005	$104,203,707
2021	$594,778,887	$486,772,113	$676,110,969	$108,006,774
2020	$503,607,421	$445,640,535	$588,879,146	$57,966,886
2019	$526,686,387	$451,527,566	$504,316,382	$75,158,821
2018	$487,831,467	$439,982,799	$476,544,250	$47,848,668

The Elliot Hospital of the City of Manchester