UMass Memorial Health Care Inc (Parent)

EIN: 043358566 501(c)(3) Health Care

Worcester, MA

Total Revenue
$692,531,729
Total Expenses
$684,274,355
Total Assets
$2,279,779,491
Net Assets
$974,518,004
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
MA
Phone
5083340252
Tax Period
2023-10-01 to 2024-09-30

UMass Memorial Health Care Inc (Parent), founded in 1998, is a major nonprofit in the Health Care sector that reported $692.5M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum.

Mission

To support, develop and coordinate an integrated health care delivery system that includes multiple health care facilities and providers. To receive in trust, from whatever source, and administer gifts and grants, whether restricted or for a specific purpose. To promote services and programs that are charitable, scientific or educational and that address the physical and mental needs of the community at large, provided the corporation shall operate exclusively for the benefit of the Medical Center and other charitable organizations or hospitals that are under common control.

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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 $48,482,023
Program Service Revenue $603,858,570
Investment Income $39,541,643
Other Revenue $649,493
TOTAL REVENUE $692,531,729

Expense Breakdown

Grants Paid $6,213,198
Salaries & Benefits $260,002,462
Fundraising Expenses $3,659,136
Program Expenses $600,169,016
Other Expenses $418,058,695
TOTAL EXPENSES $684,274,355

Year-over-Year Comparison

2023 2022 Change
Revenue $692,531,729 $563,656,357 +0.2%
Expenses $684,274,355 $538,975,429 +0.3%
Net Income $8,257,374 $24,680,928 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
17
Independent Members
16
Employees
2427
Volunteers
22

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
7
$8,768,353
Total Directors
21
$4,129,251
Key Employees
18
$13,342,644
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELVIRA GUARDIOLA VICE-CHAIRPERSON, DIRECTOR, UMM HEALTH CARE, INC. 1.0
Officer Director
$0 $0 $0
ERIC W DICKSON MD PRESIDENT, CEO, DIRECTOR, UMM HEALTH CARE, INC. 40.0
Officer Director
$3,438,759 $476,577 $3,915,336
GORDON BENSON PRESIDENT, COMMUNITY HEALTHLINK, INC, DIRECTOR VARIOUS 5.0
Officer Director
$0 $35,843 $213,915
LYNDA M YOUNG MD CHAIRPERSON, DIRECTOR, UMM HEALTH CARE, INC. 1.0
Officer Director
$0 $0 $0
BRIAN J EARLY DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
DAVID L BENNETT DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
EVAN BENJAMIN MD DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
JEAN KING PHD DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
JEAN MCMURRAY DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
LESLIE BOVENZI DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
LISA COLOMBO DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
MICHAEL COLLINS MD DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
MICHAEL ENGEL DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
MICHAEL F O'BRIEN DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
NANCY KANE DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
RAYMOND PAWLICKI DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
RICHARD K BENNETT DIRECTOR UNTIL 9/2024, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
RICHARD SIEGRIST DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
ROSEMARY THOMSEN DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
SUSAN MAILMAN DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
TERENCE FLOTTE MD DIRECTOR, UMM HEALTH CARE, INC. 1.0
Director
$0 $0 $0
DOUGLAS S BROWN SECRETARY UNTIL 9/2024, UMM HEALTH CARE, INC. 40.0
Officer
$1,472,173 $242,010 $1,714,183
KATHARINE BOLLAND ESHGHI ASSISTANT SECRETARY, UMM HEALTH CARE, INC. 40.0
Officer
$871,851 $147,111 $1,018,962
SERGIO MELGAR EVP/CFO/TREASURER, UMM HEALTH CARE, INC. OFFICER 40.0
Officer
$1,815,312 $90,645 $1,905,957
ALICE A SHAKMAN SVP, CLINICAL SVCS 5.0
Key Emp
$0 $80,633 $539,855
ANDREW KARSON MD SVP, CMO-UMMMC 5.0
Key Emp
$0 $174,130 $1,221,909
BRIAN HUGGINS SVP FINANCE/CORPORATE CONTROLLER 40.0
Key Emp
$494,716 $67,650 $562,366
CATHERINE ROSSI SVP HEALTH SYSTEM CONTRACTING 40.0
Key Emp
$523,448 $98,338 $621,786
DIANNA J CAFFARENA SVP, AMBULATORY SVCS 5.0
Key Emp
$0 $66,666 $598,412
EDWARD MOORE PRESIDENT, HARRINGTON HOSPITAL 5.0
Key Emp
$0 $54,292 $896,640
ERIC J ALPER MD SVP CQO & CHF INFORMATICS OFF 40.0
Key Emp
$805,013 $149,151 $954,164
GERALDINE VAUGHAN SVP/COO UMMMG 5.0
Key Emp
$0 $70,709 $654,494
JOAHD TOURE SVP CMG 5.0
Key Emp
$0 $19,538 $518,379
JOHN GREENWOOD SVP, POP HLTH & PRESIDENT, ACO 5.0
Key Emp
$0 $131,677 $756,913
JOHN T RANDOLPH VP, CHIEF CORPORATE COMPLIANCE 40.0
Key Emp
$407,405 $71,531 $478,936
JUSTIN PRECOURT SVP, PATIENT CARE SVCS & CNO 5.0
Key Emp
$0 $119,767 $980,681
KATHLEEN DRISCOLL SVP, CHIEF PHILANTHROPHY OFC 40.0
Key Emp
$636,426 $55,147 $691,573
ROBIN L SODANO SVP, INFORMATION SYSTEMS 40.0
Key Emp
$748,860 $116,054 $864,914
STEVEN ROACH KEY EMPLOYEE UNTIL 9/30/2024 5.0
Key Emp
$0 $130,313 $995,468
THERESE MASTRODOMENICO VP/CHIEF FINANCIAL OFFICER MED CENTER 5.0
Key Emp
$0 $126,610 $744,981
TOD WIESMAN SVP CHIEF HR OFFICER 40.0
Key Emp
$677,305 $109,160 $786,465
VICTORIA MCCANDLESS VP SYS CEO COMM OFC/ASSOC COS 40.0
Key Emp
$425,278 $49,430 $474,708
BRIAN K GIBBS VP CHIEF DIV EQTY INCL OFC 40.0
Highest
$439,998 $50,772 $490,770
CATHERYN C MCEVOY VP CORPORATE RELATIONS 40.0
Highest
$403,062 $0 $403,062
JEANNE SHIRSHAC TREASURER, UMM ACCOUNTABLE CARE ORGANIZATION, INC. 40.0
Highest
$418,135 $84,057 $502,192
JUDITH TAYLOR PATEL VP INTERIM CHIEF MKTG OFC 40.0
Highest
$420,297 $36,968 $457,265
ROBERT A KLUGMAN MD AVP MED DIR, EHS & OCC HLTH 40.0
Highest
$406,233 $35,784 $442,017
BART METZGER FORMER SVP, CHIEF HR OFFICER UNTIL 9/30/2022 0.0
$391,038 $28 $391,066
JACK W BAILEY SVP, CLINICAL SVCS UNTIL 9/2023 0.0
$0 $42,933 $579,665
JAMES P CYR FORMER KEY EMPLOYEE UNTIL FY2024 0.0
$0 $70,451 $683,492
JOHN R SALZBERG FORMER SVP, SYSTEM REV CYCLE OPS & CRO UNTIL 9/2023 0.0
$468,686 $79,944 $548,630
LATAMARA LUNDI PRESIDENT COMMUNTY HEALTHLINK UNTIL 9/2023 0.0
$495,409 $47,375 $542,784
MARK JOHNSON MD FORMER DIRECTOR UNTIL 9/2022, UMM HEALTH CARE, INC. 0.0
$0 $54,020 $1,089,541
MICHAEL GUSTAFSON MD FORMER PRESIDENT, MEDICAL CENTER UNTIL 9/2023 0.0
$0 $197,211 $2,804,106
STEPHEN TOSI FORMER KEY EMPLOYEE UNTIL FY2021 0.0
$0 $53,521 $671,242
WILLIAM CORBETT MD SVP, COMMUNITY PRACTICES UNTIL 9/2023 0.0
$0 $60,947 $656,356
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 $692,531,729 $684,274,355 $2,279,779,491 $8,257,374
2023 $563,656,357 $538,975,429 $1,878,775,973 $24,680,928
2022 $486,009,918 $517,187,036 $1,839,772,366 $-31,177,118
2021 $457,890,056 $446,806,062 $1,470,153,319 $11,083,994
2020 $410,243,999 $398,486,852 $909,920,912 $11,757,147
2019 $399,681,870 $395,288,746 $885,822,460 $4,393,124
2018 $412,349,603 $360,364,061 $697,446,791 $51,985,542
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