THE LOWELL GENERAL 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

1939

Legal Domicile

Principal Officer

AMY HOEY

Phone

9789376000

Tax Period

2023-10-01 to 2024-09-30

THE LOWELL GENERAL HOSPITAL, founded in 1939, is a major nonprofit in the Health Care sector that reported $605.3M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

TO MEET THE HEALTHCARE NEEDS OF COMMUNITIES SERVED THROUGH THE PROVISION OF INPATIENT AND OUTPATIENT MEDICAL SERVICES. TO PROVIDE SERVICES, PROGRAMS AND INITIATIVES TO IMPROVE THE HEALTH AND QUALITY OF LIFE OF THE CITIZENS IN THE AREA, WITH A PARTICULAR FOCUS ON PEOPLE WHO ARE MEDICALLY UNDERSERVED, AT RISK, OR FINANCIALLY DISADVANTAGED.

Program Service Accomplishments

Program 1

Expenses: $337,640,091 Revenue: $301,787,671

LOWELL GENERAL HOSPITAL'S OUTPATIENT AND ANCILLARY SERVICES INCLUDE EMERGENCY DEPARTMENT (LEVEL III TRAUMA SERVICES), IMAGING/RADIOLOGY (INCLUDING MRI, CT, ULTRASOUND, MAMMOGRAPHY), LABORATORY...

LOWELL GENERAL HOSPITAL'S OUTPATIENT AND ANCILLARY SERVICES INCLUDE EMERGENCY DEPARTMENT (LEVEL III TRAUMA SERVICES), IMAGING/RADIOLOGY (INCLUDING MRI, CT, ULTRASOUND, MAMMOGRAPHY), LABORATORY, CARDIAC TESTING AND CATHETERIZATION, ENDOSCOPY, SURGERY, REHABILITATION THERAPIES, RADIATION ONCOLOGY AND CHEMOTHERAPY, AND A NUMBER OF OTHER SERVICES NEEDED TO SUPPORT INPATIENT AND OUTPATIENT CARE.

Program 2

Expenses: $181,499,480 Revenue: $286,285,209

LOWELL GENERAL HOSPITAL'S PRIMARY SERVICE AREA ("PSA") IS COMPRISED OF THE FOLLOWING NINE COMMUNITIES: BILLERICA, CHELMSFORD, DRACUT, DUNSTABLE, LOWELL, TEWKSBURY, TYNGSBORO AND WESTFORD...

LOWELL GENERAL HOSPITAL'S PRIMARY SERVICE AREA ("PSA") IS COMPRISED OF THE FOLLOWING NINE COMMUNITIES: BILLERICA, CHELMSFORD, DRACUT, DUNSTABLE, LOWELL, TEWKSBURY, TYNGSBORO AND WESTFORD, MASSACHUSETTS, AND PELHAM, NEW HAMPSHIRE, WITH A TOTAL OF APPROXIMATELY 291,000 RESIDENTS. THE HOSPITAL'S SECONDARY SERVICE AREA ("SSA") HAS A POPULATION OF ALMOST 340,000 AND INCLUDES THE SURROUNDING MUNICIPALITIES OF ANDOVER, CARLISLE, GROTON, LAWRENCE, LITTLETON, METHUEN, NORTH ANDOVER, PEPPERELL AND WILMINGTON, MASSACHUSETTS, AND HOLLIS, HUDSON AND NASHUA, NEW HAMPSHIRE.THE HOSPITAL OFFERS THE LATEST TECHNOLOGY AND A FULL RANGE OF MEDICAL, SURGICAL AND CRITICAL CARE SERVICES FOR PATIENTS, FROM NEWBORNS TO SENIORS. IT IS CURRENTLY LICENSED BY THE MASSACHUSETTS DEPARTMENT OF PUBLIC HEALTH TO OPERATE A TOTAL OF 434 ACUTE CARE BEDS (301 ADULT MEDICAL/SURGICAL, 29 INTENSIVE CARE, 40 PEDIATRIC, 26 OBSTETRICAL, 10 LEVEL IIB SPECIAL CARE NURSERY BASSINETS AND 28 WELL-NEWBORN BASSINETS).

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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 $16,318,725

Program Service Revenue $560,961,261

Investment Income $1,839,451

Other Revenue $26,135,481

TOTAL REVENUE $605,254,918

Expense Breakdown

Grants Paid $78,924

Salaries & Benefits $299,728,121

Fundraising Expenses $772,051

Program Expenses $519,139,571

Other Expenses $327,032,456

TOTAL EXPENSES $626,839,501

Year-over-Year Comparison

	2023	2022	Change
Revenue	$605,254,918	$657,122,447	-0.1%
Expenses	$626,839,501	$590,309,347	+0.1%
Net Income	$-21,584,583	$66,813,100	-1.3%

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

4574

Volunteers

345

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

$4,774,863

Total Directors

$2,085,861

Key Employees

$550,618

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYMOND ANSTISS JR	CHAIR	1.00	Officer Director	$0	$0	$0
JOHN CARSON PH D	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN CHAPMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
JULIE CHEN PH D	BOARD MEMBER	1.00	Director	$0	$0	$0
JACK CLANCY	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK S COCHRAN	BOARD MEMBER (UNTIL 7/24)	1.00	Director	$0	$0	$0
SHAMIN DAHOD MD	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL DANDORPH	PRESIDENT & CEO - TUFTS MEDICINE	1.00	Officer Director	$0	$359,711	$2,085,861
MICHAEL DUBUQUE	CLERK	1.00	Officer Director	$0	$0	$0
SUSAN WEST LAVINE	BOARD MEMBER	1.00	Director	$0	$0	$0
BOPHA MALONE	BOARD MEMBER	1.00	Director	$0	$0	$0
DANIEL J MANSUR ESQ	BOARD MEMBER	1.00	Director	$0	$0	$0
GEORGE MELTSAKOS MD	BOARD MEMBER	1.00	Director	$0	$0	$0
TUSHAR PATEL MD	BOARD MEMBER	1.00	Director	$0	$0	$0
NAOMI M PRENDERGAST	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BRUCE ROBINSON	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY HOEY	PRESIDENT	1.00	Officer	$806,881	$126,817	$933,698
ZACHARY REDMOND ESQ	SECRETARY	1.00	Officer	$0	$70,149	$669,412
SUSAN GREEN	TREASURER (UNTIL 12/23)	1.00	Officer	$0	$38,808	$1,085,892
ANDREW DEVOE	TREASURER/CFO	1.00	Officer	$0	$0	$0
CECELIA LYNCH	VP/PATIENT CARE SVCS, CNE	50.00	Key Emp	$520,486	$30,132	$550,618
DIANE REGAN	ASSOC CHIEF NURSING OFFICER	50.00	Highest	$271,037	$20,868	$291,905
JASON PROULX	CLINICAL ADMIN COORDINATOR	50.00	Highest	$237,300	$21,065	$258,365
KATHLEEN GARLAND	SR DIRECTOR CONTRACTING	50.00	Highest	$251,539	$19,402	$270,941
TRACIE MCPADDEN	ASSOCIATE CNO	50.00	Highest	$262,823	$22,260	$285,083
YISHI REN	CHIEF MEDICAL PHYSICIST	50.00	Highest	$306,967	$18,819	$325,786
JOSEPH A WHITE	FORMER PRESIDENT/CEO (UNTIL 9/23)	0.00		$0	$23,483	$1,140,951
WILLIAM F WYMAN	FORMER SR VP, OPS/TREAS/ASST CLERK	0.00		$0	$60,460	$559,650
WILLIAM GALVIN III MD	FORMER BOARD MEMBER/MED DIR.	50.00		$577,138	$24,295	$601,433

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	$605,254,918	$626,839,501	$399,882,241	$-21,584,583
2023	$657,122,447	$590,309,347	$481,194,403	$66,813,100
2022	$528,659,287	$608,429,753	$523,332,091	$-79,770,466
2021	$534,206,195	$498,595,095	$620,869,238	$35,611,100
2020	$492,829,849	$469,388,239	$603,322,132	$23,441,610
2019	$485,151,578	$458,621,162	$455,209,859	$26,530,416
2018	$496,748,443	$456,080,286	$488,997,334	$40,668,157