UNIVERSITY SURGICAL ASSOCIATES INC (EIN 050389803) - 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

1980

Legal Domicile

Principal Officer

DR AURORA PRYOR

Phone

4014539623

Tax Period

2023-10-01 to 2024-09-30

UNIVERSITY SURGICAL ASSOCIATES INC, founded in 1980, is a mid-sized nonprofit that reported $51.1M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

UNIVERSITY SURGICAL ASSOCIATES, INC. IS A NONPROFIT CORPORATION FOUNDED TO PROVIDE DIAGNOSIS AND TREATMENT OF DISORDERS FOR PATIENTS OF RHODE ISLAND HOSPITAL AND OTHERS REQUIRING SURGERY, TO CONDUCT RESEARCH IN THE FIELD OF SURGERY, AND TO TEACH PHYSICIANS, MEDICAL STUDENTS AND OTHER HEALTH CARE PERSONNEL IN THE FIELD OF SURGERY.

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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 $1,078,668

Program Service Revenue $48,739,305

Investment Income $1,343,226

Other Revenue $-72,694

TOTAL REVENUE $51,088,505

Expense Breakdown

Grants Paid $33,804

Salaries & Benefits $45,765,125

Fundraising Expenses $0

Program Expenses $46,395,724

Other Expenses $10,009,409

TOTAL EXPENSES $55,808,338

Year-over-Year Comparison

	2023	2022	Change
Revenue	$51,088,505	$45,374,352	+0.1%
Expenses	$55,808,338	$49,357,568	+0.1%
Net Income	$-4,719,833	$-3,983,216	+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

224

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

$2,512,328

Total Directors

$5,332,228

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AURORA PRYOR MD	PRESIDENT (AS OF 8/24)	1.00	Officer Director	$0	$0	$0
WILLIAM CIOFFI MD	PRESIDENT (TO 6/24)	40.00	Officer Director	$617,235	$97,281	$714,516
STEPHEN MIGLIORI MD	VICE PRESIDENT/TREASURER	40.00	Officer Director	$501,664	$69,092	$570,756
JEFFREY SLAIBY MD	SECRETARY	40.00	Officer Director	$482,589	$126,613	$609,202
DAVID HARRINGTON MD	TRUSTEE (TO 10/23)	40.00	Director	$500,114	$110,164	$610,278
STEPHANIE LUECKEL MD	TRUSTEE	40.00	Director	$387,358	$92,642	$480,000
FRANCOIS LUKS MD	TRUSTEE	40.00	Director	$485,202	$114,374	$599,576
MATTHEW VREES MD	TRUSTEE	40.00	Director	$354,527	$74,685	$429,212
CHARU TANEJA MD	TRUSTEE	40.00	Director	$302,724	$114,426	$417,150
TRAVIS COTTON	TRUSTEE	40.00	Director	$385,796	$82,737	$468,533
RACHEL BEARD	TRUSTEE	40.00	Director	$376,171	$56,834	$433,005
MATT UUSTAL	EXECUTIVE DIRECTOR	40.00	Officer	$317,683	$83,687	$401,370
AMY HICKEY	DIRECTOR OF FINANCE	1.00	Officer	$145,054	$71,430	$216,484
PETER MAZZAGLIA MD	PHYSICIAN	40.00	Highest	$505,787	$106,602	$612,389
PAUL MORRISSEY MD	PHYSICIAN	40.00	Highest	$409,964	$97,714	$507,678
THOMAS MINER MD	PHYSICIAN	40.00	Highest	$423,935	$125,973	$549,908
ABBAS ABBAS MD	PHYSICIAN	40.00	Highest	$996,115	$101,959	$1,098,074
CHARLES ADAMS MD	PHYSICIAN	40.00	Highest	$580,748	$135,003	$715,751

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	$51,088,505	$55,808,338	$47,404,891	$-4,719,833
2023	$45,374,352	$49,357,568	$45,870,123	$-3,983,216
2022	$43,777,859	$46,872,662	$42,732,079	$-3,094,803
2021	$42,930,028	$45,694,688	$57,102,663	$-2,764,660
2020	$40,663,754	$42,422,892	$53,734,580	$-1,759,138
2019	$39,866,201	$41,120,432	$47,208,911	$-1,254,231
2018	$40,193,029	$38,556,352	$36,804,984	$1,636,677

UNIVERSITY SURGICAL ASSOCIATES INC