CHMC Surgical Foundation Inc (EIN 042767602) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

Steven J Fishman MD

Phone

6173554022

Tax Period

2023-10-01 to 2024-09-30

CHMC Surgical Foundation Inc, founded in 1982, is a mid-sized nonprofit in the Health Care sector that reported $49.5M in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year. Expenses of $47.6M left a modest 4% surplus.

Mission

The Foundation provides surgical services and educational services to Boston (see Schedule O) Children's Hospital and Harvard Medical School. The Foundation also provides care for patients regardless of their ability to pay, as well as providing and subsidizing hospital and community based services that are either unavailable or limited elsewhere in the community.

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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 $356,181

Program Service Revenue $46,917,072

Investment Income $1,292,861

Other Revenue $899,421

TOTAL REVENUE $49,465,535

Expense Breakdown

Grants Paid $15,000

Salaries & Benefits $40,136,414

Fundraising Expenses $0

Program Expenses $44,261,715

Other Expenses $7,409,246

TOTAL EXPENSES $47,560,660

Year-over-Year Comparison

	2023	2022	Change
Revenue	$49,465,535	$59,885,653	-0.2%
Expenses	$47,560,660	$42,419,465	+0.1%
Net Income	$1,904,875	$17,466,188	-0.9%

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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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

N/A

Employees

Volunteers

N/A

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

$4,035,460

Total Directors

$8,664,923

Key Employees

$1,109,390

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Steven J Fishman MD	President	55.00	Officer Director	$1,550,657	$134,070	$1,684,727
Heung Bae Kim MD	Clerk	60.00	Officer Director	$1,193,431	$133,156	$1,326,587
Tom Jaksic MD	Treasurer	60.00	Officer Director	$897,011	$127,135	$1,024,146
Shawn J Rangel MD	Director	60.00	Director	$804,242	$224,750	$1,028,992
Biren P Modi MD	Director	60.00	Director	$1,067,746	$205,340	$1,273,086
Brent Weil MD	Director	60.00	Director	$909,970	$227,208	$1,137,178
Terry L Buchmiller MD	Director	60.00	Director	$1,081,676	$108,531	$1,190,207
N/A	Institutional Trustee	2.00		$0	$0	$0
Marc R Laufer MD	Dept. Chief	60.00	Key Emp	$971,827	$137,563	$1,109,390
Konstantinos Papadakis MD	Physician	60.00	Highest	$951,832	$129,297	$1,081,129
Benjamin Zendejas-Mummert MD	Physician	60.00	Highest	$902,801	$195,091	$1,097,892
Belinda Hsi Dickie MD	Physician	60.00	Highest	$929,883	$236,293	$1,166,176
Alireza Abdollah Shamshirsaz MD	Physician	60.00	Highest	$958,167	$182,665	$1,140,832
Alex G Cuenca MD	Physician	60.00	Highest	$891,187	$203,735	$1,094,922

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	$49,465,535	$47,560,660	$106,727,513	$1,904,875
2023	$59,885,653	$42,419,465	$95,368,583	$17,466,188
2022	$34,006,141	$30,644,046	$83,277,496	$3,362,095
2021	$41,065,629	$34,162,300	$91,440,860	$6,903,329
2020	$31,940,359	$28,246,669	$73,400,034	$3,693,690
2019	$35,053,234	$27,733,080	$63,029,765	$7,320,154
2018	$31,803,248	$27,992,069	$57,108,153	$3,811,179

CHMC Surgical Foundation Inc