MELROSEWAKEFIELD HEALTHCARE PARENT CORPORATION (EIN 042103587) - 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

1921

Legal Domicile

Principal Officer

KELLY CORBI

Phone

7819793000

Tax Period

2023-10-01 to 2024-09-30

MELROSEWAKEFIELD HEALTHCARE PARENT CORPORATION, founded in 1921, is a small nonprofit in the Health Care sector that reported $827K in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 36% operating deficit.

Mission

DEVELOP, SPONSOR AND PROMOTE SERVICE AND PROGRAMS SOLELY FOR THE BENEFIT OF MELROSEWAKEFIELD HEALTHCARE, INC. (HOSPITAL) AND ITS RELATED ORGANIZATIONS. THESE PROGRAMS AND SERVICES ARE CHARITABLE, SCIENTIFIC OR EDUCATIONAL.

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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 $0

Program Service Revenue $826,676

Investment Income $0

Other Revenue $0

TOTAL REVENUE $826,676

Expense Breakdown

Grants Paid $0

Salaries & Benefits $111,480

Fundraising Expenses $0

Program Expenses $1,008,645

Other Expenses $1,014,639

TOTAL EXPENSES $1,126,119

Year-over-Year Comparison

	2023	2022	Change
Revenue	$826,676	$1,674,545	-0.5%
Expenses	$1,126,119	$2,499,894	-0.5%
Net Income	$-299,443	$-825,349	-0.6%

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

N/A

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

$3,931,352

Total Directors

$5,631,151

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DANDORPH	DIRECTOR/PRES & CEO - TUFTS MEDICINE	3.00	Director	$0	$359,711	$2,085,861
KELLY CORBI	PRESIDENT/DIRECTOR	3.00	Officer Director	$0	$114,673	$839,236
WILLIAM WYMAN	ASSISTANT TREASURER	3.00	Officer Director	$0	$60,460	$559,650
ANDRAS SANDOR MD	DIRECTOR	3.00	Director	$0	$34,849	$534,709
JOSEPH PENNACCHIO MD	DIRECTOR	3.00	Director	$0	$23,875	$499,186
BINDIYA THAKKAR MD	DIRECTOR (UNTIL 2/24)	3.00	Director	$0	$30,682	$475,775
LAURENCE CONWAY MD	DIRECTOR	3.00	Director	$0	$8,246	$444,577
PATRICIA CAMPBELL	CHAIR/DIRECTOR (UNTIL 2/24)	3.00	Officer Director	$0	$0	$0
PAUL BARDARO	ASSISTANT TREASURER	3.00	Officer Director	$0	$0	$0
EDWARD DOHERTY JR	DIRECTOR (UNTIL 8/24)	3.00	Director	$0	$0	$0
MAURICE M EDOUARD-VINCENT EDD	DIRECTOR	3.00	Director	$0	$0	$0
ANDREW FREED	CHAIR (UNTIL 2/24)/DIRECTOR	3.00	Officer Director	$0	$0	$0
TARA GIBSON	VICE CHAIR	3.00	Director	$0	$0	$0
THOMAS GRAF	DIRECTOR	3.00	Director	$0	$0	$0
GAIL INFURNA RN	DIRECTOR	3.00	Director	$0	$0	$0
DIANA JEONG	DIRECTOR	3.00	Director	$0	$0	$0
PHILIP LEMBO	CHAIR/DIRECTOR (AS OF 2/24)	3.00	Officer Director	$0	$0	$0
ROBERT L SWANSON JR	SECRETARY/DIRECTOR	3.00	Officer Director	$0	$0	$0
RISHI LIKHI MD	DIRECTOR (AS OF 2/24)	3.00	Director	$0	$0	$0
JEFFREY MCALLISTER	ASSIST. SECRETARY/DIR. (AS OF 7/24)	3.00	Officer Director	$0	$2,830	$192,157
CHARLES R WHIPPLE ESQ	ASSIST. SECRETARY (UNTIL 4/24)	40.00	Officer	$0	$77,182	$479,065
DONNA SANDLER	SECRETARY (UNTIL 7/24)	3.00	Officer	$0	$17,365	$105,940
SUSAN GREEN	ASSIST. TREASURER (UNTIL 12/23)	3.00	Officer	$0	$38,808	$1,085,892
ANDREW DEVOE	CFO/TREASURER (AS OF 2/24)	1.00	Officer	$0	$0	$0
ZACHARY REDMOND	SECRETARY (AS OF 2/24)	1.00	Officer	$0	$70,149	$669,412

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	$826,676	$1,126,119	$2,025,116	$-299,443
2023	$1,674,545	$2,499,894	$2,208,451	$-825,349
2022	$2,290,391	$2,277,053	$4,729,910	$13,338
2021	$2,133,974	$2,387,731	$6,989,833	$-253,757
2020	$2,158,034	$2,497,652	$8,250,817	$-339,618
2019	$2,823,339	$2,657,319	$5,135,389	$166,020
2018	$2,101,638	$2,735,867	$5,227,992	$-634,229

MELROSEWAKEFIELD HEALTHCARE PARENT CORPORATION