SOUTH COUNTY HOSPITAL HEALTHCARE S… - Form 990 Financial Data

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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

1920

Legal Domicile

Principal Officer

AARON S ROBINSON

Phone

4017828000

Tax Period

2023-10-01 to 2024-09-30

SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM, founded in 1920, is a major nonprofit in the Health Care sector that reported $238.8M in total revenue in fiscal year 2023.

Mission

SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM IS DEDICATED TO ENRICHING THE QUALITY OF LIFE OF SOUTHERN RHODE COMMUNITY MEMBERS AND VISITORS. FOR MORE INFORMATION, SEE SCHEDULE O.

Program Service Accomplishments

Program 1

Expenses: $221,349,323 Revenue: $236,133,721

SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM (THE HOSPITAL) IS AN INDEPENDENT, NON-PROFIT, ACUTE-CARE HOSPITAL, SERVING THE COMMUNITIES OF SOUTHERN RHODE ISLAND, OFFERING THE LATEST ADVANCES IN TECHNOLOGY AND A COMPREHENSIVE RANGE OF MEDICAL AND SURGICAL SERVICES DELIVERED BY EXPERT PHYSICIANS AND HIGHLY TRAINED STAFF. THE SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM IS COMMITTED TO ITS COMMUNITY AND GUIDED BY THE VALUES OF CARING, RESPECT, INTEGRITY, EXCELLENCE, PARTNERSHIP AND STEWARDSHIP. FOR MORE INFORMATION, SEE SCHEDULE O.

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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 $145,715

Program Service Revenue $238,243,296

Investment Income $1,650,237

Other Revenue $-1,243,247

TOTAL REVENUE $238,796,001

Expense Breakdown

Grants Paid $0

Salaries & Benefits $120,247,251

Fundraising Expenses $29,168

Program Expenses $221,349,323

Other Expenses $119,083,009

TOTAL EXPENSES $239,330,260

Year-over-Year Comparison

	2023	2022	Change
Revenue	$238,796,001	$233,454,572	+0.0%
Expenses	$239,330,260	$239,963,963	0.0%
Net Income	$-534,259	$-6,509,391	-0.9%

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

1689

Volunteers

167

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

$1,419,408

Total Directors

$348,742

Key Employees

$3,194,527

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER JALBERT	VP OF MEDICAL STAFF (THRU 9/24)	40.00	Director	$318,678	$30,064	$348,742
ROBERT BIERWIRTH MD	PRESIDENT OF MED STAFF	1.00	Director	$0	$0	$0
JOSEPH MATTHEWS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JAMES FARRELL	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
BETTY RAMBUR PHD RN	TREASURER	1.00	Officer Director	$0	$0	$0
NOAH BENEDICT	SECRETARY	1.00	Officer Director	$0	$0	$0
SANDRA COLETTA	TRUSTEE (THRU 4/24)	1.00	Director	$0	$0	$0
ROBERT DYER MD	TRUSTEE	1.00	Director	$0	$0	$0
JOHN H HOWLAND	TRUSTEE	1.00	Director	$0	$0	$0
ROGEAN MAKOWSKI	TRUSTEE	1.00	Director	$0	$0	$0
JASON MARSHALL	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MCCAFFREY	TRUSTEE (AS OF 4/24)	1.00	Director	$0	$0	$0
ERIC NORBERG	TRUSTEE	1.00	Director	$0	$0	$0
AUSTIN C SMITH	TRUSTEE	1.00	Director	$0	$0	$0
VICTORIA WICKS	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA WOLFE	TRUSTEE	1.00	Director	$0	$0	$0
AARON S ROBINSON	PRESIDENT AND CEO	40.00	Officer	$864,218	$50,078	$914,296
THOMAS J BREEN	VP AND CHIEF FINANCIAL OFFICER	40.00	Officer	$458,792	$46,320	$505,112
ARNOLD SARAZEN	MEDICAL DIRECTOR (THRU 12/23)	40.00	Key Emp	$570,474	$19,911	$590,385
ROBERT KORNAS	CHIEF MED OFF, VP SCMG (THRU 12/23)	40.00	Key Emp	$481,350	$41,384	$522,734
KEVIN CHARPENTIER	CHIEF MED OFF, VP SCMG	40.00	Key Emp	$485,469	$53,660	$539,129
ANETRIA GALMORE	VP, COO/CNO	40.00	Key Emp	$408,848	$38,414	$447,262
MARGARET REGAN THOMAS	VP, CHIEF HR OFFICER	40.00	Key Emp	$273,036	$42,205	$315,241
ANDREW PRESCOTT	GENERAL COUNSEL	40.00	Key Emp	$269,557	$21,367	$290,924
IAN CLARK	VP, STRATEGY & PERF EXCELL	40.00	Key Emp	$227,103	$19,878	$246,981
ANGIE MATHIEU	VP, CHIEF DIGITAL OFFICER	40.00	Key Emp	$218,988	$22,883	$241,871
JOHN HEFFERNAN	PHYSICIAN	40.00	Highest	$543,414	$43,137	$586,551
DANIEL FASS	PHYSICIAN	40.00	Highest	$572,210	$12,448	$584,658
DAVID BADER	PHYSICIAN	40.00	Highest	$614,158	$30,825	$644,983
ANGELA TABER	PHYSICIAN	40.00	Highest	$501,173	$24,827	$526,000
JOHN MURPHY	PHYSICIAN	40.00	Highest	$492,677	$29,250	$521,927
AARON WEISBORD MD	FORMER TRUSTEE	40.00		$446,624	$49,499	$496,123
SALVATORE ABBRUZZESE JR DO	FORMER PRESIDENT OF MED STAFF	40.00		$121,676	$0	$121,676

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	$238,796,001	$239,330,260	$182,043,753	$-534,259
2023	$233,454,572	$239,963,963	$186,937,684	$-6,509,391
2022	$225,971,731	$230,593,558	$165,173,339	$-4,621,827
2021	$224,427,852	$218,007,567	$197,555,724	$6,420,285
2020	$206,333,121	$202,171,590	$180,477,830	$4,161,531
2019	$204,000,716	$202,292,102	$149,328,980	$1,708,614
2018	$184,815,801	$181,518,489	$144,244,334	$3,297,312

SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM