Henry Heywood Memorial Hospital

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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

1907

Legal Domicile

Principal Officer

Rozanna Penney

Phone

9786306106

Tax Period

2023-10-01 to 2024-09-30

Henry Heywood Memorial Hospital, founded in 1907, is a major nonprofit in the Health Care sector that reported $191.9M in total revenue in fiscal year 2023.

Mission

To be our community's trusted choice for exceptional patient care.

Program Service Accomplishments

Program 1

Expenses: $172,076,891 Revenue: $189,611,603

Heywood offers various outpatient services such as an Emergency Room, Outpatient oncology and hematology advanced imaging, special procedures, rehabilitation services and many others on an outpatient basis.Heywood offers Inpatient services including telemetry, intensive care, maternity, pediatrics, geriatric and adult inpatient care and inpatient adult mental health.Heywood has eleven specialty and one Primary Care, provider based practices. The primary care practice focuses on Pediatrics and Family Practice, and the specialty care practices focus on the areas of Cardiology, Endocrinology, Gastroenterology, Gynecology/Obstetrics, Orthopedics, Pulmonology, Urology and General Surgery.

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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 $2,103,727

Program Service Revenue $189,611,603

Investment Income $132,099

Other Revenue $36,108

TOTAL REVENUE $191,883,537

Expense Breakdown

Grants Paid $0

Salaries & Benefits $90,195,947

Fundraising Expenses $432,684

Program Expenses $172,076,891

Other Expenses $111,538,021

TOTAL EXPENSES $201,733,968

Year-over-Year Comparison

	2023	2022	Change
Revenue	$191,883,537	$186,576,297	+0.0%
Expenses	$201,733,968	$198,472,536	+0.0%
Net Income	$-9,850,431	$-11,896,239	-0.2%

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

1306

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

$770,150

Total Directors

$2,504,543

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert Chauvin	Chairman	0.20	Officer Director	$0	$0	$0
Roy Lake	Vice Chairman	0.20	Officer Director	$0	$0	$0
JoAnne Parks	Clerk	0.20	Officer Director	$0	$0	$0
Elizabeth Nottleson	Trustee	0.20	Director	$0	$11,600	$354,307
Joyce Fletcher	Trustee	0.20	Director	$0	$0	$0
Nicole Moorshead	Trustee	0.20	Director	$0	$0	$0
Tina Sbrega	Trustee	0.20	Director	$0	$0	$0
Frank Garofalo	Trustee	0.20	Director	$0	$32,543	$536,249
Erin O'Hara	Trustee	0.20	Director	$0	$31,933	$640,575
Frank Sweeney	Trustee	0.20	Director	$0	$0	$0
Craig Napolitano	Trustee	0.20	Director	$0	$31,113	$598,628
David Spackman	Trustee	0.20	Director	$0	$0	$0
Michele Parker	Trustee	0.20	Director	$0	$0	$0
Albert Rose	Trustee	0.20	Director	$0	$0	$0
Thomas Kane	Trustee	0.20	Director	$0	$0	$0
Joel Shaughnessy	Trustee	0.20	Director	$0	$0	$0
Craig Twohey	Trustee	0.20	Director	$0	$0	$0
Glenn Hunt	Trustee	0.20	Director	$0	$0	$0
John Skrzypczak	Trustee	0.20	Director	$0	$0	$0
Rozanna Penney	President/CEO	40.00	Officer Director	$365,243	$9,541	$374,784
Thomas Sullivan	Treasurer/Past CEO & CFO	40.00	Officer	$206,677	$0	$206,677
John Bujak	CFO	40.00	Officer	$169,966	$18,723	$188,689
Andrew Cocchiarella	Director of Anesthesia Services	40.00	Highest	$840,911	$41,188	$882,099
Joseph Wollman	ER Physician	40.00	Highest	$645,492	$38,482	$683,974
Daniel Wilson	ER Physician	40.00	Highest	$558,676	$26,966	$585,642
Saleem Khanani	Oncology Physician	40.00	Highest	$535,849	$36,526	$572,375
Tatsuyoshi Kitamura	Past Phycician Hospitalist	40.00	Highest	$497,757	$41,902	$539,659
Winfield Brown	Former President/CEO	0.00		$525,783	$26,970	$552,753

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
2024	$191,883,537	$201,733,968	$93,868,400	$-9,850,431
2023	$186,576,297	$198,472,536	$100,238,845	$-11,896,239
2022	$156,584,006	$174,626,360	$118,045,157	$-18,042,354
2021	$151,408,670	$150,916,902	$147,988,951	$491,768
2020	$148,836,626	$146,513,357	$135,103,213	$2,323,269
2019	$150,499,734	$146,409,293	$95,608,319	$4,090,441
2018	$132,137,658	$129,313,317	$93,519,747	$2,824,341