MELROSEWAKEFIELD HEALTHCARE INC (EIN 042767880) - 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

1982

Legal Domicile

Principal Officer

KELLY CORBI

Phone

7819793000

Tax Period

2023-10-01 to 2024-09-30

MELROSEWAKEFIELD HEALTHCARE INC, founded in 1982, is a major nonprofit in the Health Care sector that reported $267.6M in total revenue in fiscal year 2023. Revenue fell 20% from the prior year — a significant decline worth monitoring.

Mission

TO OPERATE HOSPITALS ON TWO CAMPUSES (ONE WITH 24 HOUR ER SERVICES) ALONG WITH A HOSPITAL SCHOOL OF NURSING. MELROSEWAKEFIELD HEALTHCARE PROVIDES INPATIENT AND OUTPATIENT MEDICAL CARE AND ANCILLARY MEDICAL SERVICES AND TESTING.

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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 $12,303,896

Program Service Revenue $243,928,201

Investment Income $7,520,287

Other Revenue $3,887,490

TOTAL REVENUE $267,639,874

Expense Breakdown

Grants Paid $0

Salaries & Benefits $158,335,762

Fundraising Expenses $0

Program Expenses $223,392,871

Other Expenses $122,295,688

TOTAL EXPENSES $280,631,450

Year-over-Year Comparison

	2023	2022	Change
Revenue	$267,639,874	$336,322,410	-0.2%
Expenses	$280,631,450	$286,401,935	0.0%
Net Income	$-12,991,576	$49,920,475	-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

2158

Volunteers

242

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

$5,631,152

Key Employees

$337,824

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	40.00	Officer Director	$724,563	$114,673	$839,236
WILLIAM WYMAN	ASSISTANT TREASURER	47.00	Officer Director	$499,190	$60,460	$559,650
ANDRAS SANDOR MD	DIRECTOR/SURGEON	3.00	Director	$18,750	$34,849	$534,709
JOSEPH PENNACCHIO MD	DIRECTOR/HEMATOLOGIST	3.00	Director	$16,669	$23,875	$499,187
BINDIYA THAKKAR MD	DIR./ENDOCRINOLOGIST (UNTIL 2/24)	3.00	Director	$0	$30,682	$475,775
LAURENCE CONWAY MD	DIRECTOR	3.00	Director	$76,240	$8,246	$444,577
PATRICIA CAMPBELL	CHAIR (UNTIL 2/24)/DIRECTOR	3.00	Officer Director	$0	$0	$0
PAUL BARDARO	TREASURER (UNTIL 2/24)/DIRECTOR	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	DIRECTOR	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 (UNTIL 2/24)/DIRECTOR	3.00	Officer Director	$0	$0	$0
RISHI LIKHI MD	DIRECTOR (AS OF 2/24)	3.00	Director	$0	$0	$0
JEFFREY MCALLISTER	ASST. SEC./DIRECTOR (AS OF 7/24)	3.00	Officer Director	$0	$2,830	$192,157
CHARLES R WHIPPLE ESQ	ASST SEC/GENERAL COUNSEL (UNTIL 4/24)	3.00	Officer	$401,883	$77,182	$479,065
DONNA SANDLER	ASSISTANT SECRETARY (UNTIL 7/24)	3.00	Officer	$88,575	$17,365	$105,940
SUSAN GREEN	ASSISTANT 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
BARBARA VIENS	CNO	40.00	Key Emp	$302,699	$35,125	$337,824
JOHN G GIRAGOS MD	PSYCH M.D.	40.00	Highest	$346,868	$35,502	$382,370
LAWRENCE TENDO	RN	40.00	Highest	$343,503	$27,870	$371,373
CARYL BEISON	EXECUTIVE DIRECTOR PHO	40.00	Highest	$346,822	$8,450	$355,272
JAMES LECH	PSYCHIATRIST	40.00	Highest	$315,777	$5,331	$321,108
BOBBIANN NAKHOUL	CLINICAL ADMIN COORDINATOR	40.00	Highest	$289,602	$6,449	$296,051

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	$267,639,874	$280,631,450	$207,226,827	$-12,991,576
2023	$336,322,410	$286,401,935	$266,194,060	$49,920,475
2022	$249,297,940	$308,860,327	$344,183,016	$-59,562,387
2021	$268,442,770	$245,540,701	$443,008,431	$22,902,069
2020	$253,170,701	$231,079,367	$453,532,534	$22,091,334
2019	$249,458,051	$227,360,595	$364,382,440	$22,097,456
2018	$255,502,455	$233,537,537	$294,461,064	$21,964,918
2018	$255,502,455	$233,537,537	$294,461,064	$21,964,918

MELROSEWAKEFIELD HEALTHCARE INC