Signature Healthcare Medical Group Inc (EIN 043306782) - 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

1996

Legal Domicile

Principal Officer

DAVID DRINKWATER MD

Phone

5089417000

Tax Period

2023-10-01 to 2024-09-30

Signature Healthcare Medical Group Inc, founded in 1996, is a mid-sized nonprofit in the Health Care sector that reported $75.7M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $92.1M exceeded revenue, resulting in a 22% operating deficit.

Mission

TO SUPPORT THE MEDICAL, EDUCATIONAL, SCIENTIFIC AND CHARITABLE PURPOSE OF BROCKTON HOSPITAL.

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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 $126,228

Program Service Revenue $75,536,903

Investment Income $20,855

Other Revenue $8,640

TOTAL REVENUE $75,692,626

Expense Breakdown

Grants Paid $0

Salaries & Benefits $65,772,299

Fundraising Expenses $0

Program Expenses $89,838,586

Other Expenses $26,331,188

TOTAL EXPENSES $92,103,487

Year-over-Year Comparison

	2023	2022	Change
Revenue	$75,692,626	$61,339,996	+0.2%
Expenses	$92,103,487	$83,098,908	+0.1%
Net Income	$-16,410,861	$-21,758,912	-0.2%

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

N/A

Employees

589

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

$3,322,612

Total Directors

$6,203,834

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SYED M IMAM MD	DIRECTOR/PHYSICIAN	50.0	Director	$1,480,068	$39,677	$1,519,745
REMYA RAVINDRAN THARACKALMD	PHYSICIAN	50.0	Highest	$1,229,140	$28,226	$1,257,366
DIVJOT K SOOCH MD	PHYSICIAN	50.0	Highest	$1,011,726	$41,157	$1,052,883
KYUNG HEE CHANG MD	PHYSICIAN	50.0	Highest	$1,030,621	$14,943	$1,045,564
SURESH GUNDAJI MD	PHYSICIAN	50.0	Highest	$875,855	$42,727	$918,582
KINJAL P PATEL MD	PHYSICIAN	50.0	Highest	$877,273	$6,666	$883,939
ALEXANDER GEORGAKIS MD	CHIEF OF MED SPEC./EX OFFICIO	50.0	Director	$771,674	$44,671	$816,345
ROBERT HAFFEY	CEO	1.0	Officer	$0	$66,406	$776,351
DAVID DRINKWATER MD	PRESIDENT	50.0	Officer Director	$654,729	$42,531	$697,260
JANE YU MD	VICE PRESIDENT	50.0	Officer Director	$607,851	$18,888	$626,739
STEVEN MILMAN MD	CHIEF OF SURGICAL SPEC/EX OFF.	50.0	Director	$539,048	$32,753	$571,801
HUAN NGO MD	CHIEF MEDICAL OFFICER, SHC	50.0	Officer	$525,318	$40,557	$565,875
JASON RADZEVICH	TREASURER/CFO	1.0	Officer	$0	$38,262	$534,359
OLIVERA BOSKOVSKA MD	DIRECTOR/PHYSICIAN	50.0	Director	$426,267	$16,313	$442,580
ROBERT WEINSTEIN MD	CHIEF-PRIMARY CARE/EX OFFICIO	50.0	Director	$407,107	$31,350	$438,457
SRIDHAR DASARI MD	DIRECTOR/PHYSICIAN	50.0	Director	$338,042	$44,652	$382,694
ADREA S LEE MD	DIRECTOR/PHYSICIAN	50.0	Director	$298,337	$6,033	$304,370
KIM HOLLON	FORMER PRESIDENT/CEO	0.0		$0	$0	$283,844
STEPHEN PIDGEON DPM	DIR./PHYSICIAN (UNTIL 12/23)	50.0	Director	$201,665	$4,507	$206,172
VICKI A SCHWARTZ GALE MD	DIR./PHYSICIAN (UNTIL 12/23)	50.0	Director	$179,413	$18,258	$197,671
AUXILIA MALLORY UNTIL 124	CLERK,CLINICAL PROJECT MANAGER	50.0	Officer	$119,580	$2,448	$122,028
CATHERINE SCHMITT	FORMER CLERK	50.0		$23,776	$8,481	$32,257
KIMSONE CHAU	CLERK/ADMIN ASST. (FROM 1/24)	50.0	Officer	$0	$0	$0

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	$75,692,626	$92,103,487	$36,495,095	$-16,410,861
2023	$61,339,996	$83,098,908	$34,008,431	$-21,758,912
2022	$67,679,143	$84,242,321	$33,846,407	$-16,563,178
2021	$73,463,169	$82,442,364	$35,048,796	$-8,979,195
2020	$72,000,048	$82,240,467	$25,387,503	$-10,240,419
2019	$72,569,122	$90,368,585	$25,038,227	$-17,799,463
2018	$78,962,957	$87,430,100	$23,700,116	$-8,467,143

Signature Healthcare Medical Group Inc