CARE NEW ENGLAND HEALTH SYSTEM (EIN 050490997) - 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

1996

Legal Domicile

Principal Officer

MICHAEL WAGNER MD

Phone

4014556267

Tax Period

2023-10-01 to 2024-09-30

CARE NEW ENGLAND HEALTH SYSTEM, founded in 1996, is a major nonprofit in the Health Care sector that reported $186.6M in total revenue in fiscal year 2023.

Mission

THE ORGANIZATION IS DEVOTED TO CONTINUALLY IMPROVING THE HEALTH AND WELL-BEING OF THE PEOPLE AND COMMUNITIES THEY SERVE.

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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 $130,000

Program Service Revenue $184,330,977

Investment Income $1,633,271

Other Revenue $466,634

TOTAL REVENUE $186,560,882

Expense Breakdown

Grants Paid $440,900

Salaries & Benefits $70,938,957

Fundraising Expenses $0

Program Expenses $174,888,204

Other Expenses $122,891,384

TOTAL EXPENSES $194,271,241

Year-over-Year Comparison

	2023	2022	Change
Revenue	$186,560,882	$189,328,753	0.0%
Expenses	$194,271,241	$179,135,413	+0.1%
Net Income	$-7,710,359	$10,193,340	-1.8%

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

875

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

$3,014,671

Total Directors

$2,968,398

Key Employees

$3,787,243

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	$1,688,410	$32,601	$1,721,011
JAMES E FANALE MD	FORMER OFFICER	0.0		$1,317,641	$140,001	$1,457,642
F JOSEPH IANNONI	FORMER OFFICER	0.0		$806,929	$83,899	$890,828
RAYMOND O POWRIE MD	CHIEF MEDICAL QUALITY OFFICER	55.0	Key Emp	$0	$33,225	$775,090
TODD A CONKLIN	ASST. TREAS./EVP/CFO/CNE	55.0	Officer	$707,222	$26,659	$733,881
KEVIN BAILL MD	DIRECTOR - MED DIR OP SVCS/BH	55.0	Director	$0	$52,549	$635,307
GAIL E ROBBINS	SVP, FINANCE AND PLANNING	55.0	Key Emp	$579,794	$33,981	$613,775
ANA TUYA FULTON MD	DIR-CHIEF POP HLTH OFF/CNE	55.0	Director	$590,920	$21,160	$612,080
ASHLEY M TAYLOR ESQ	ASST. SEC./GEN. COUNSEL/CNE	55.0	Officer	$542,295	$17,484	$559,779
ROGER MITTY	President - CNEMG	55.0	Key Emp	$478,528	$651	$479,179
ARNOLD AVILA	FORMER KEY EMPLOYEE	0.0		$438,127	$19,006	$457,133
JESSICA MCCARTHY	VP, CHIEF MARKETING OFFICER	55.0	Key Emp	$414,733	$40,852	$455,585
BRYAN LIESE	SVP, Operations - CNEMG	55.0	Highest	$377,435	$30,244	$407,679
STEPHEN M SILVA	VP LOGISTIC & SUPPLY CHAIN	55.0	Highest	$364,970	$32,333	$397,303
KRYSTEN BLANCHETTE	VP REV CYCLE	55.0	Key Emp	$360,118	$35,311	$395,429
MARK YERRICK	VP FACILITIES & SUPPORT SVCS.	55.0	Highest	$372,331	$22,651	$394,982
JENNIE HENRIQUES	CHIEF COMPLIANCE OFFICER	55.0	Key Emp	$371,955	$16,520	$388,475
JAMES M BURKE	VP FINANCE MED/SURG HOSP	55.0	Highest	$358,134	$20,505	$378,639
GARY SPECIALE	VP RISK MANAGEMENT	55.0	Key Emp	$316,011	$36,730	$352,741
MAE MEDEIROS	VP LABORATORY SERVICES	55.0	Key Emp	$0	$44,897	$326,969
JOHN S MINICHIELLO	FORMER KEY EMPLOYEE	0.0		$277,188	$21,706	$298,894
DEAN R CARLSON	VP HUMAN RESOURCES	55.0	Highest	$197,310	$43,745	$241,055
SUSAN C MARTIN	FORMER KEY EMPLOYEE	0.0		$138,012	$29,343	$167,355
JOHN POLANOWICZ	former officer	0.0		$136,935	$5,613	$142,548
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	$186,560,882	$194,271,241	$67,118,060	$-7,710,359
2023	$189,328,753	$179,135,413	$54,110,952	$10,193,340
2022	$175,954,411	$187,735,266	$48,312,739	$-11,780,855
2021	$172,013,739	$177,797,113	$77,099,194	$-5,783,374
2020	$165,919,700	$165,709,309	$107,215,720	$210,391
2019	$151,776,108	$150,977,849	$96,254,217	$798,259
2018	$148,618,840	$154,489,053	$111,248,010	$-5,870,213

CARE NEW ENGLAND HEALTH SYSTEM