SOUTH SHORE MEDICAL CENTER INC

EIN: 042297845 501(c)(3) Health Care

NORWELL, MA

Total Revenue
$86,229,755
Total Expenses
$98,323,618
Total Assets
$53,005,476
Net Assets
$-14,803,879
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
MA
Principal Officer
STEPHEN JENNEY
Phone
7818785200
Tax Period
2023-10-01 to 2024-09-30

SOUTH SHORE MEDICAL CENTER INC, founded in 2004, is a mid-sized nonprofit in the Health Care sector that reported $86.2M in total revenue in fiscal year 2023. Expenses of $98.3M exceeded revenue, resulting in a 14% operating deficit.

Mission

SOUTH SHORE MEDICAL CENTER DELIVERS EFFECTIVE AND COMPASSIONATE PATIENT CARE WITH THE HIGHEST MEDICAL AND ETHICAL STANDARDS. WE BUILD A BETTER FUTURE FOR THE COMMUNITIES WE SERVE THROUGH TEACHING AND LEADERSHIP IN HEALTHCARE INNOVATION. YOUR HEALTH, OUR PASSION, ONE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $84,933,657 Revenue: $86,253,468

SOUTH SHORE MEDICAL CENTER PROVIDED MEDICAL, PREVENTATIVE AND OTHER CLINICAL SERVICES TO ITS PATIENTS. THE ORGANIZATION WORKS TO IMPROVE THE QUALITY OF HEALTH CARE SERVICES PROVIDED TO PATIENTS IN...

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SOUTH SHORE MEDICAL CENTER PROVIDED MEDICAL, PREVENTATIVE AND OTHER CLINICAL SERVICES TO ITS PATIENTS. THE ORGANIZATION WORKS TO IMPROVE THE QUALITY OF HEALTH CARE SERVICES PROVIDED TO PATIENTS IN SOUTHEASTERN MASSACHUSETTS THROUGH CLINICAL INTEGRATION AND THE IMPLEMENTATION OF A UNIFIED ELECTRONIC MEDICAL RECORDS SYSTEM. SOUTH SHORE MEDICAL CENTER PARTICIPATED IN EDUCATIONAL AND TRAINING PROGRAMS FOR MEDICAL STUDENTS AND MEDICAL RESIDENTS AND FOR OTHER HEALTHCARE PROFESSIONALS INCLUDING PHYSICIAN ASSISTANTS AND NURSES.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $74,349,554
Investment Income $-45,088
Other Revenue $11,925,289
TOTAL REVENUE $86,229,755

Expense Breakdown

Grants Paid $0
Salaries & Benefits $70,845,240
Fundraising Expenses $0
Program Expenses $84,933,657
Other Expenses $27,478,378
TOTAL EXPENSES $98,323,618

Year-over-Year Comparison

2023 2022 Change
Revenue $86,229,755 $88,675,084 0.0%
Expenses $98,323,618 $96,966,946 +0.0%
Net Income $-12,093,863 $-8,291,862 +0.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
8
Employees
756
Volunteers
8

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
5
$2,367,972
Total Directors
16
$2,675,264
Key Employees
2
$1,023,791
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALLEN SMITH MD PRESIDENT & CEO 0.50
Officer Director
$0 $183,307 $1,446,616
KIMBERLY DEVER MD DIRECTOR, CHIEF OB/GYN 0.50
Director
$0 $41,762 $831,786
AMANDA MARCHICA DO DIRECTOR AS OF 10/1/2023 0.50
Director
$0 $31,720 $316,862
BRADFORD SAMPSON DIRECTOR 0.50
Director
$0 $0 $80,000
PAMELA O'LEARY CHAIR 0.50
Officer Director
$0 $0 $0
THOMAS MCCARTHY VICE CHAIR 0.50
Officer Director
$0 $0 $0
ALAN MCKIM DIRECTOR 0.50
Director
$0 $0 $0
CHRISTOPHER ODDLEIFSON DIRECTOR THRU 12/31/2023 0.50
Director
$0 $0 $0
ELLEN ESSENFELD DIRECTOR 0.50
Director
$0 $0 $0
GRACE LEE DIRECTOR AS OF 10/1/2023 0.50
Director
$0 $0 $0
HELEN GARVEY DIRECTOR THRU 12/31/2023 0.50
Director
$0 $0 $0
KENNETH QUIGLEY JR DIRECTOR AS OF 10/1/2023 0.50
Director
$0 $0 $0
MICHAEL SHEEHAN DIRECTOR 0.50
Director
$0 $0 $0
PAMELA WHELTON DIRECTOR THRU 12/31/2023 0.50
Director
$0 $0 $0
PAUL WANTANABE PHD DIRECTOR 0.50
Director
$0 $0 $0
PAULA L BECKER DIRECTOR 0.50
Director
$0 $0 $0
JOSEPH R DRISCOLL ESQ SECRETARY 0.50
Officer
$0 $36,056 $607,535
STEPHEN JENNEY CFO & TREAS. AS OF 10/1/23 0.50
Officer
$0 $20,403 $313,821
DAVID HALLE MD AMBULATORY MEDICAL DIRECTOR 40.00
Key Emp
$594,728 $36,056 $630,784
LINDA OLIVER VP AMBULATORY SERV. 40.00
Key Emp
$383,107 $9,900 $393,007
MATTHEW HJORT MD PHYSICIAN 40.00
Highest
$726,549 $36,056 $762,605
SERGIO FEFER MD PHYSICIAN 40.00
Highest
$621,620 $31,227 $652,847
STEVEN STARR MD PHYSICIAN 40.00
Highest
$555,478 $29,559 $585,037
TEJASH SHAH PHYSICIAN 40.00
Highest
$540,972 $9,900 $550,872
MOHAMMED SHARAF MD PHYSICIAN 40.00
Highest
$508,342 $14,774 $523,116
JUSTIN CAMPBELL DIRECTOR THRU 9/30/2023 0.00
$0 $0 $91,600
MICHAEL AYERS MD DIRECTOR THRU 9/30/2023 0.50
$0 $0 $29,133
KRISTINE HANSCOM CPA MST CGMA FORMER TREAS. & CFO (THRU 5/31/23) 0.50
$0 $18,546 $926,096
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 $86,229,755 $98,323,618 $53,005,476 $-12,093,863
2023 $88,675,084 $96,966,946 $59,822,242 $-8,291,862
2022 $81,798,241 $88,534,021 $57,053,453 $-6,735,780
2021 $83,043,739 $86,994,299 $68,415,013 $-3,950,560
2020 $76,015,365 $82,094,954 $67,114,601 $-6,079,589
2019 $75,074,000 $78,966,624 $24,590,759 $-3,892,624
2018 $68,032,833 $70,879,286 $21,164,756 $-2,846,453
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