LAWRENCE MEMORIAL HOSPITAL INC (EIN 060646704) - 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

1912

Legal Domicile

Principal Officer

RICHARD LISITANO

Phone

2036880580

Tax Period

2023-10-01 to 2024-09-30

LAWRENCE MEMORIAL HOSPITAL INC, founded in 1912, is a major nonprofit in the Health Care sector that reported $501.4M in total revenue in fiscal year 2023.

Mission

TO IMPROVE THE HEALTH OF THE REGION AND TO PROVIDE HEALTHCARE SERVICES.

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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 $2,371,571

Program Service Revenue $496,321,557

Investment Income $848,539

Other Revenue $1,902,534

TOTAL REVENUE $501,444,201

Expense Breakdown

Grants Paid $319,730

Salaries & Benefits $217,317,218

Fundraising Expenses $356,365

Program Expenses $454,861,066

Other Expenses $275,643,837

TOTAL EXPENSES $493,280,785

Year-over-Year Comparison

	2023	2022	Change
Revenue	$501,444,201	$471,777,121	+0.1%
Expenses	$493,280,785	$464,752,849	+0.1%
Net Income	$8,163,416	$7,024,272	+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

Employees

2725

Volunteers

163

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

$4,207,739

Total Directors

$2,669,374

Key Employees

$1,794,577

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM J ASELTYNE	SECR/TRUSTEE (CURRENT YR)	1.00	Officer Director	$0	$193,425	$1,450,910
WILLIAM J ASELTYNE	SECR/TRUSTEE (VESTED DEFERRED)	1.00	Officer Director	$0	$0	$235,138
GAIL KOSYLA	TREASURER	1.00	Officer	$0	$407,968	$1,543,615
PATRICK L GREEN	FORMER OFFICER (CURRENT YR)	0.00		$0	$219,082	$835,885
PATRICK L GREEN	FORMER OFFICER (VESTED DEFERRED)	0.00		$0	$0	$157,810
RICHARD LISITANO	PRESIDENT/TRUSTEE	35.00	Officer Director	$554,857	$284,504	$978,076
OLIVER MAYORGA	VP/CMO	35.00	Key Emp	$667,025	$122,210	$955,991
CRAIG MITTLEMAN	ED MEDICAL DIRECTOR	40.00	Highest	$623,421	$49,029	$672,450
BENJAMIN ARMSTRONG	ED PHYSICIAN	40.00	Highest	$542,427	$39,314	$581,741
KERIN DACRUZ	VP/CNO TERM 2/2024	40.00	Key Emp	$521,644	$37,743	$559,387
DENISE FIORE	FORMER OFFICER	0.00		$0	$0	$547,749
MICHAEL JOSEPH	ED PHYSICIAN	40.00	Highest	$504,738	$39,314	$544,052
PETER WILLIS	ED PHYSICIAN	40.00	Highest	$423,267	$38,949	$462,216
NADER BAHADORY	ED PHYSICIAN	40.00	Highest	$404,436	$35,905	$440,341
SHANNON CHRISTIAN	SVP/CNO EFFECTIVE 4/2024	40.00	Key Emp	$250,905	$28,294	$279,199
STEPHEN ALLEGRETTO	FORMER OFFICER	0.00		$0	$0	$211,813
MAUREEN ANDERSON	FORMER OFFICER	0.00		$0	$0	$118,596
DANIEL GACCIONE	TRUSTEE	1.00	Director	$0	$0	$5,250
F GREGORY AHERN	TRUSTEE	1.00	Director	$0	$0	$0
TODD BLUE	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL BRANNEGAN	TRUSTEE	1.00	Director	$0	$0	$0
NICHOLAS FORTSON	TRUSTEE	1.00	Director	$0	$0	$0
JOHN HOLSTEIN	TRUSTEE	1.00	Director	$0	$0	$0
KATHLEEN HOLT	VICE CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
JAMES MAYNARD	TRUSTEE	1.00	Director	$0	$0	$0
MARIE PEAKMAN	TRUSTEE	1.00	Officer Director	$0	$0	$0
SHANNA REELS	TRUSTEE	1.00	Director	$0	$0	$0
VICTORIA REYES	TRUSTEE	1.00	Director	$0	$0	$0
ROCCO TIMPANO	TRUSTEE	1.00	Director	$0	$0	$0
REV CATHERINE ZALL	TRUSTEE	1.00	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	$501,444,201	$493,280,785	$426,995,625	$8,163,416
2023	$471,777,121	$464,752,849	$425,702,458	$7,024,272
2022	$461,794,793	$442,738,204	$456,988,884	$19,056,589
2022	$461,794,793	$442,738,204	$456,988,884	$19,056,589
2021	$440,849,922	$419,884,133	$500,211,474	$20,965,789
2020	$383,580,295	$394,935,731	$460,648,797	$-11,355,436
2019	$379,401,803	$357,106,009	$411,338,982	$22,295,794
2018	$347,355,422	$325,708,955	$410,610,409	$21,646,467

LAWRENCE MEMORIAL HOSPITAL INC