SOUTH SHORE HOSPITAL INC

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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

STEPHEN JENNEY

Phone

7816248000

Tax Period

2023-10-01 to 2024-09-30

SOUTH SHORE HOSPITAL INC, founded in 1982, is a major nonprofit in the Health Care sector that reported $895.9M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

SOUTH SHORE HOSPITAL'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE HEALTH CARE SERVICES TO THE COMMUNITY INCLUDING SURGICAL, MEDICAL AND OTHER TREATMENT OF THE SICK AND INJURED. SOUTH SHORE HEALTH SYSTEM HAS AN OVERARCHING MISSION FOR EVERY ENTITY THAT IS PART OF THEIR HEALTH SYSTEM. THAT MISSION IS AS FOLLOWS: YOUR HEALTH. OUR PASSION. ONE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $781,977,329 Revenue: $854,548,541

HEALTH CARE PROGRAMS, GENERAL/OTHER: SOUTH SHORE HOSPITAL IS A NOT-FOR-PROFIT ACUTE CARE, REGIONAL HOSPITAL LICENSED BY THE MASSACHUSETTS DEPARTMENT OF PUBLIC HEALTH TO OPERATE 374 ACUTE CARE BEDS...

HEALTH CARE PROGRAMS, GENERAL/OTHER: SOUTH SHORE HOSPITAL IS A NOT-FOR-PROFIT ACUTE CARE, REGIONAL HOSPITAL LICENSED BY THE MASSACHUSETTS DEPARTMENT OF PUBLIC HEALTH TO OPERATE 374 ACUTE CARE BEDS (COMPOSED OF 287 MEDICAL/SURGICAL, 24 INTENSIVE CARE/CORONARY CARE, 51 LEVEL III MATERNAL/NEWBORN, 12 PEDIATRIC/YOUNG ADULT AND 10 NEONATAL), AND 67 BASSINETS (COMPOSED OF 20 LEVEL II SPECIAL CARE NURSERY BASSINETS AND 47 NEWBORN BASSINETS). THE HOSPITAL OFFERS A COMPREHENSIVE RANGE OF HEALTH CARE SERVICES TO MEET DIVERSE COMMUNITY NEEDS, INCLUDING EMERGENCY CARE, ACUTE CARE (INCLUDING MEDICAL, SURGICAL, OBSTETRICAL/GYNECOLOGICAL, PEDIATRICS, CARDIAC AND CANCER CARE), OUTPATIENT SERVICES (INCLUDING IMAGING, SURGICAL, REHABILITATION, WOUND AND SPECIALIZED ORTHOPEDIC CARE), HOME HEALTH SERVICES AND COMMUNITY SERVICES. THE HOSPITAL PROVIDES FREE CARE TO THOSE WHO ARE UNABLE TO PAY, SPONSORS FREE CANCER SCREENINGS, OTHER HEALTH SCREENINGS, VARIOUS SUPPORT GROUPS AND EDUCATIONAL PROGRAMS, INCLUDING PUBLIC HEALTH EDUCATION, WELLNESS PROGRAMS AND THE TRAINING OF HEALTH PROFESSIONALS SUCH AS PHYSICIANS, NURSES AND TECHNICIANS. DURING THE YEAR ENDED SEPTEMBER 30, 2024, THE HOSPITAL HAD 35,980 DISCHARGES AND APPROXIMATELY 330,308 OUTPATIENT VISITS. THE HOSPITAL'S EMERGENCY CENTER IS OPEN 24 HOURS A DAY, EVERY DAY OF THE YEAR, AND HAD 123,221 VISITS DURING THE YEAR. THE HOSPITAL'S HOME CARE DIVISION HELPS PEOPLE MAINTAIN INDEPENDENCE AT HOME. THE VISITING NURSES COORDINATE THE APPROPRIATE SPECIALISTS, SERVICES AND COMMUNITY RESOURCES FOR EACH PATIENT. OUR HOME CARE DIVISION PROVIDED OVER 101,962 HOME VISITS TO PATIENTS IN FY24.

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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 $18,154,392

Program Service Revenue $851,056,693

Investment Income $14,434,234

Other Revenue $12,257,516

TOTAL REVENUE $895,902,835

Expense Breakdown

Grants Paid $20,000

Salaries & Benefits $576,224,816

Fundraising Expenses $2,751,273

Program Expenses $781,977,329

Other Expenses $323,768,447

TOTAL EXPENSES $900,013,263

Year-over-Year Comparison

	2023	2022	Change
Revenue	$895,902,835	$828,492,047	+0.1%
Expenses	$900,013,263	$822,354,818	+0.1%
Net Income	$-4,110,428	$6,137,229	-1.7%

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

6122

Volunteers

195

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

$3,321,330

Total Directors

$2,675,264

Key Employees

$3,299,115

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLEN SMITH MD	PRESIDENT & CEO	40.00	Officer Director	$1,263,309	$183,307	$1,446,616
KIMBERLY DEVER MD	DIRECTOR, CHIEF OB/GYN	40.00	Director	$790,024	$41,762	$831,786
AMANDA MARCHICA DO	DIRECTOR AS OF 10/1/2023	40.00	Director	$285,142	$31,720	$316,862
BRADFORD SAMPSON	MEDICAL STAFF PRESIDENT	1.00	Director	$80,000	$0	$80,000
PAMELA O'LEARY	CHAIR	1.00	Officer Director	$0	$0	$0
THOMAS MCCARTHY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ALAN MCKIM	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER ODDLEIFSON	DIRECTOR THRU 12/31/2023	1.00	Director	$0	$0	$0
ELLEN ESSENFELD	DIRECTOR	1.00	Director	$0	$0	$0
GRACE LEE	DIRECTOR AS OF 10/1/2023	1.00	Director	$0	$0	$0
HELEN GARVEY	DIRECTOR THRU 12/31/2023	1.00	Director	$0	$0	$0
KENNETH QUIGLEY JR	DIRECTOR AS OF 10/1/2023	1.00	Director	$0	$0	$0
MICHAEL SHEEHAN	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA WHELTON	DIRECTOR THRU 12/31/2023	1.00	Director	$0	$0	$0
PAUL WANTANABE PHD	DIRECTOR	1.00	Director	$0	$0	$0
PAULA L BECKER	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM JOHNSTON	COO	40.00	Officer	$809,302	$144,056	$953,358
JOSEPH R DRISCOLL ESQ	SECRETARY	40.00	Officer	$571,479	$36,056	$607,535
STEPHEN JENNEY	CFO & TREAS. AS OF 10/1/23	40.00	Officer	$293,418	$20,403	$313,821
LUKE O'CONNELL MD	CHIEF CLINICAL OFFICER	40.00	Key Emp	$783,443	$359,724	$1,143,167
JASON TRACY MD	CHIEF MED. OFF. AS OF 12/17/2023	40.00	Key Emp	$706,644	$32,009	$738,653
ADAM BUCKLEY MD	CHIEF DIGITAL & INFO. OFFICER	40.00	Key Emp	$539,815	$7,733	$547,548
TIMOTHY QUIGLEY	SVP SPECIAL PROJECTS	40.00	Key Emp	$455,141	$36,209	$491,350
TIMOTHY M LYNCH MD	VP OF MED, CRITICAL CARE, & PERIOP.	40.00	Key Emp	$345,359	$33,038	$378,397
FREDERICK MILLHAM MD	CHAIR, SURGERY	40.00	Highest	$1,033,361	$29,559	$1,062,920
DILIP NATARAJ MD	CHAIR, CRITICAL CARE	40.00	Highest	$771,284	$21,360	$792,644
ERIK SHANK MD	CHAIR, ANESTHESIA	40.00	Highest	$671,863	$33,984	$705,847
HOWARD CHANG MD	CHIEF, PSYCHIATRY	40.00	Highest	$671,599	$28,973	$700,572
KRISTEN STADTLANDER MD	PHYSICIAN	40.00	Highest	$608,720	$42,573	$651,293
JUSTIN CAMPBELL	DIR/CH PROV COUNCIL THRU 9/30/2023	1.00		$91,600	$0	$91,600
MICHAEL AYERS MD	MEDICAL STAFF VP THRU 1/31/23, DIR. THRU 9/30/2023	1.00		$29,133	$0	$29,133
KRISTINE HANSCOM CPA MST CGMA	FORMER TREAS. & CFO (THRU 5/31/23)	40.00		$907,550	$18,546	$970,156
TIMOTHY R LYNCH MD	FORMER CHIEF MED. OFF. THRU 7/22/22	0.00		$383,089	$0	$383,089

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	$895,902,835	$900,013,263	$689,608,323	$-4,110,428
2023	$828,492,047	$822,354,818	$655,989,824	$6,137,229
2022	$782,781,208	$829,190,893	$662,180,992	$-46,409,685
2021	$754,117,212	$749,430,342	$826,172,591	$4,686,870
2020	$747,772,833	$691,336,943	$833,708,503	$56,435,890
2019	$664,438,324	$649,520,188	$684,466,670	$14,918,136
2018	$622,531,139	$608,394,211	$666,831,990	$14,136,928