KENT COUNTY MEMORIAL HOSPITAL (EIN 050258896) - 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

1951

Legal Domicile

Principal Officer

PAARI GOPALAKRISHNAN MD MBA

Phone

4014556267

Tax Period

2023-10-01 to 2024-09-30

KENT COUNTY MEMORIAL HOSPITAL, founded in 1951, is a major nonprofit in the Health Care sector that reported $687.2M in total revenue in fiscal year 2023.

Mission

THE ORGANIZATION IS DEVOTED TO IMPROVING THE HEALTH & WELL-BEING OF THE PEOPLE & COMMUNITIES WE SERVE OFFERING OUR ESSENTIAL SERVICES WITHOUT REGARD FOR ABILITY TO PAY.

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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 $1,862,904

Program Service Revenue $681,685,219

Investment Income $1,866,818

Other Revenue $1,805,299

TOTAL REVENUE $687,220,240

Expense Breakdown

Grants Paid $0

Salaries & Benefits $355,393,331

Fundraising Expenses $0

Program Expenses $630,372,847

Other Expenses $345,020,944

TOTAL EXPENSES $700,414,275

Year-over-Year Comparison

	2023	2022	Change
Revenue	$687,220,240	$646,011,139	+0.1%
Expenses	$700,414,275	$668,151,722	+0.0%
Net Income	$-13,194,035	$-22,140,583	-0.4%

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

3475

Volunteers

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

$4,130,448

Total Directors

$2,968,398

Key Employees

$1,685,312

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL E WAGNER MD	DIRECTOR - PRESIDENT/CEO/CNE	55.0	Officer Director	$0	$32,601	$1,721,011
JAMES E FANALE MD	FORMER OFFICER	0.0		$0	$140,001	$1,457,642
F JOSEPH IANNONI	FORMER OFFICER	0.0		$0	$83,899	$890,828
JONATHAN GASTEL MD	ORTHOPEDIST	55.0	Highest	$752,154	$48,866	$801,020
SHANNON SULLIVAN	FORMER OFFICER	55.0		$0	$96,163	$800,222
DORIS COSTELLO MD	ANESTHESIOLOGIST	55.0	Highest	$763,554	$32,521	$796,075
TODD A CONKLIN	ASST. TREAS./EVP/CFO/CNE	55.0	Officer	$0	$26,659	$733,881
PAARI GOPALAKRISHNAN MD MBA	PRESIDENT & COO	55.0	Officer	$688,641	$44,007	$732,648
STEVEN N GRAFF MD	ORTHOPEDIST	55.0	Highest	$677,661	$54,295	$731,956
GHULAM SURTI MD	CHIEF MEDICAL OFFICER	55.0	Key Emp	$661,001	$58,485	$719,486
HUAI-JEN YANG MD	ANESTHESIOLOGIST	55.0	Highest	$679,893	$30,295	$710,188
ROBERT M SHALVOY MD	EXEC CHIEF, ORTHO SPORTS MED	55.0	Highest	$649,787	$50,472	$700,259
KEVIN BAILL MD	DIRECTOR - MED DIR OP SVCS/BH	55.0	Director	$582,758	$52,549	$635,307
ANA TUYA FULTON MD	DIR-CHIEF POP HLTH OFF/CNE	55.0	Director	$0	$21,160	$612,080
ASHLEY M TAYLOR ESQ	ASST. SEC./GEN. COUNSEL/CNE	55.0	Officer	$0	$17,484	$559,779
DUANE T GOLOMB MD	PRESIDENT-AFFINITY PHYSICIANS	55.0	Officer	$346,532	$36,597	$383,129
JAMES M BURKE	VP - FINANCE	55.0	Key Emp	$0	$20,505	$378,639
JUDITH ANN THORPE MSN RN	FORMER KEY EMPLOYEE	55.0		$360,508	$14,500	$375,008
SHERRI SPRAGUE MHA BSN RN	CNO	55.0	Key Emp	$336,658	$9,474	$346,132
DEAN R CARLSON	VP - HUMAN RESOURCES	55.0	Key Emp	$0	$43,745	$241,055
GARY E FURTADO	CHAIRMAN - DIRECTOR	1.0	Officer Director	$0	$0	$0
R STEPHEN MANTY	VICE CHAIR/TREASURER-DIRECTOR	1.0	Officer Director	$0	$0	$0
JAMES A BOTVIN	SECRETARY - DIRECTOR	1.0	Officer Director	$0	$0	$0
SHARON CONARD-WELLS	DIRECTOR	1.0	Director	$0	$0	$0
CAROLYN MASTERS PHD RN	DIRECTOR	1.0	Director	$0	$0	$0
JOSEPH J MCGAIR ESQ	DIRECTOR	1.0	Director	$0	$0	$0
PATRICK J MURRAY JR	DIRECTOR	1.0	Director	$0	$0	$0
PETER PHILIPS	DIRECTOR	1.0	Director	$0	$0	$0
JUDITH REMONDI	DIRECTOR	1.0	Director	$0	$0	$0
CHARLES R REPPUCCI ESQ	DIRECTOR	1.0	Director	$0	$0	$0
MARIBETH Q WILLIAMSON	DIRECTOR	1.0	Director	$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	$687,220,240	$700,414,275	$232,531,196	$-13,194,035
2023	$646,011,139	$668,151,722	$273,921,260	$-22,140,583
2022	$601,092,922	$634,246,477	$277,772,542	$-33,153,555
2021	$616,989,024	$587,743,090	$281,809,597	$29,245,934
2020	$505,476,351	$516,372,099	$263,427,116	$-10,895,748
2019	$520,038,036	$510,223,879	$189,001,144	$9,814,157
2018	$493,418,602	$478,218,794	$173,166,039	$15,199,808

KENT COUNTY MEMORIAL HOSPITAL