KENT HOSPITAL FOUNDATION

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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

2000

Legal Domicile

Principal Officer

PAARI GOPALAKRISHNAN MD

Phone

4014556267

Tax Period

2023-10-01 to 2024-09-30

KENT HOSPITAL FOUNDATION, founded in 2000, is a community nonprofit in the Health Care sector that reported $1.7M in total revenue in fiscal year 2023. Revenue surged 48% from the prior year, signaling strong growth momentum. The organization ran a surplus of $848K, a strong 49% operating margin.

Mission

THE MISSION OF KENT COUNTY HOSPITAL FOUNDATION IS TO SERVE THE HEALTH CARE NEEDS OF OUR REGION THROUGH KENT COUNTY MEMORIAL HOSPITAL; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, BY ENCOURAGING AND FACILITATING PHILANTHROPIC GENEROSITY AND SPIRIT OF VOLUNTEERISM. THE KENT HOSPITAL FOUNDATION SERVES AS THE PHILANTHROPIC ARM OF KENT COUNTY MEMORIAL HOSPITAL BY ACCEPTING, ACKNOWLEDGING AND RECOGNIZING CHARITABLE CONTRIBUTIONS FROM INDIVIDUALS, BUSINESSES, FOUNDATIONS AND GOVERNMENTAL SOURCES THAT SUPPORT THE HOSPITAL'S MISSION AND WORK IN THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $872,081 Revenue: $0

CULTIVATE FUNDS DEVELOPMENT ON BEHALF OF KENT COUNTY MEMORIAL HOSPITAL; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION.

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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 $1,579,756

Program Service Revenue $0

Investment Income $140,302

Other Revenue $0

TOTAL REVENUE $1,720,058

Expense Breakdown

Grants Paid $870,190

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $872,081

Other Expenses $2,101

TOTAL EXPENSES $872,291

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,720,058	$1,163,769	+0.5%
Expenses	$872,291	$669,233	+0.3%
Net Income	$847,767	$494,536	+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

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

$2,832,298

Total Directors

$3,044,005

Key Employees

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
PAARI GOPALAKRISHNANMDMBA	DIRECTOR-PRESIDENT/COO/KCMH	55.0	Officer Director	$0	$44,007	$732,648
JAMES M BURKE	TREAS - DIR - VP FINANCE/KCMH	55.0	Officer Director	$0	$20,505	$378,639
CHARLES L CRONIN III DO	DIRECTOR	55.0	Director	$0	$46,241	$211,707
EDWARD J COONEY JR	CHAIRMAN - DIRECTOR	1.0	Officer Director	$0	$0	$0
MARIBETH Q WILLIAMSON	SECRETARY - DIRECTOR	1.0	Officer Director	$0	$0	$0
KAREN BALCH	DIRECTOR	1.0	Director	$0	$0	$0
CARRA BETH BAPTISTA	DIRECTOR	1.0	Director	$0	$0	$0
TERRANCE JACKSON	DIRECTOR	1.0	Director	$0	$0	$0
ABIGAIL KOHLER	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL MCMAHON	DIRECTOR	1.0	Director	$0	$0	$0
STEPHEN D NELSON ESQ	DIRECTOR	1.0	Director	$0	$0	$0
DEBRA SKORSKI	DIRECTOR	1.0	Director	$0	$0	$0
EDWARD S THOMAS MD	DIRECTOR	1.0	Director	$0	$0	$0
JESSE TOLPPA	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	$1,720,058	$872,291	$6,273,612	$847,767
2023	$1,163,769	$669,233	$4,232,610	$494,536
2022	$1,138,523	$638,708	$3,879,140	$499,815
2021	$1,425,391	$406,012	$4,292,826	$1,019,379
2020	$528,238	$399,791	$2,381,681	$128,447
2019	$1,581,064	$1,420,730	$3,598,138	$160,334
2018	$567,088	$913,184	$2,650,871	$-346,096