THE MEMORIAL HOSPITAL

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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

1901

Legal Domicile

Principal Officer

MICHAEL WAGNER MD

Phone

4014556267

Tax Period

2023-10-01 to 2024-09-30

THE MEMORIAL HOSPITAL, founded in 1901, is a community nonprofit in the Health Care sector that reported $2.4M in total revenue in fiscal year 2023.

Mission

UNTIL THE ORGANIZATION CLOSED ON JANUARY 1, 2018, OUR MISSION WAS PRIMARY CARE AND PREVENTATIVE MEDICINE, PROVIDING ADVANCED DIAGNOSIS AND TREATMENT WITH A FOCUS ON TEACHING AND RESEARCH. AN ESSENTIAL RESOURCE IN ACHIEVING OUR MISSION WAS THE MEDICAL EXPERTISE PROVIDED BY OUR COMPETENT AND CARING PROFESSIONAL STAFF. WE STRIVED TO ACHIEVE THE TIMELY AND EFFICIENT DELIVERY OF CARE IN A COMPASSIONATE ATMOSPHERE.

Program Service Accomplishments

Program 1

Expenses: $2,316,767 Revenue: $1,794,607

THE ORGANIZATION CEASED ALL OPERATIONS AS OF JANUARY 1, 2018, AND WAS COMMITTED IN PROVIDING VARIOUS MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER...

THE ORGANIZATION CEASED ALL OPERATIONS AS OF JANUARY 1, 2018, AND WAS COMMITTED IN PROVIDING VARIOUS MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR 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 $0

Program Service Revenue $1,794,607

Investment Income $591,586

Other Revenue $0

TOTAL REVENUE $2,386,193

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,316,767

Other Expenses $2,574,184

TOTAL EXPENSES $2,574,184

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,386,193	$2,230,882	+0.1%
Expenses	$2,574,184	$2,971,784	-0.1%
Net Income	$-187,991	$-740,902	-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

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

N/A

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

$3,014,671

Total Directors

$2,968,398

Key Employees

$378,639

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
TODD A CONKLIN	ASST. TREAS./EVP/CFO/CNE	55.0	Officer	$0	$26,659	$733,881
KEVIN BAILL MD	DIRECTOR - MED DIR OP SVCS/BH	55.0	Director	$0	$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
JAMES M BURKE	VP - FINANCE MED/SURG HOSP	55.0	Key Emp	$0	$20,505	$378,639
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	$2,386,193	$2,574,184	$22,427,697	$-187,991
2023	$2,230,882	$2,971,784	$22,201,300	$-740,902
2022	$3,934,364	$27,036,632	$20,047,303	$-23,102,268
2021	$8,550,332	$3,956,831	$49,053,196	$4,593,501
2020	$1,694,622	$3,980,183	$46,648,214	$-2,285,561
2019	$4,667,962	$5,926,165	$46,863,270	$-1,258,203
2018	$35,817,207	$76,937,122	$50,432,667	$-41,119,915