Midstate Medical Center

EIN: 060646715 501(c)(3) Health Care

Meriden, CT

Total Revenue
$443,370,802
Total Expenses
$426,648,757
Total Assets
$517,182,671
Net Assets
$323,186,694
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Financial Trends

Organization Details

Formation Year
1885
Legal Domicile
CT
Principal Officer
Gina Calder
Phone
8602445272
Tax Period
2023-10-01 to 2024-09-30

Midstate Medical Center, founded in 1885, is a major nonprofit in the Health Care sector that reported $443.4M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $426.6M left a modest 4% surplus.

Mission

The mission of Midstate Medical Center is to improve the health and healing of the people and communities we serve.

Program Service Accomplishments

Program 1
Expenses: $77,787,726 Revenue: $86,031,317

Orthopedics:In partnership with the parent, Hartford HealthCare Corporation, the organization launched the Connecticut Orthopedic Institute at Midstate Medical Center. Designed and managed by our...

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Orthopedics:In partnership with the parent, Hartford HealthCare Corporation, the organization launched the Connecticut Orthopedic Institute at Midstate Medical Center. Designed and managed by our renowned Orthopedic specialists, the professionals at the Institute plan every detail to give patients the best possible experience for treatment and recovery.At 14,000 square feet, the Institute spans an entire pavilion of Midstate Medical Center that's been completely renovated and repurposed for Orthopedic patients and their guests. The Institute includes 21 all-private patient rooms and 11 operating rooms, a new Orthopedic rehabilitation space, separate kitchen facilities, and other convenient amenities to make the patient experience seamless, comforting, and safe.The Institute offers the latest treatments and techniques for bone, muscle, and joint problems to give patients a faster path to recovery. Our Orthopedic specialists are fellowship-trained in their area of expertise, so patients can be comforted knowing that their doctors are wholly focused on treating their injury and helping them move forward.The Institute is a dedicated Orthopedic hospital that offers a full continuum of care from first diagnosis through rehabilitation in areas including: *Joint Reconstruction (Knee, Hip, Shoulder, and Elbow) *Foot and Ankle Surgery *Podiatric Care *Hand Surgery *Spine Services *Artificial Disc Replacements *Arthroscopic Procedures *Fracture CareFor FY24, the Institute had 15,025 cases with an average length of stay of 3.0 days. The Institute employed 38 surgeons during the previous fiscal year.

Program 2
Expenses: $49,932,611 Revenue: $59,355,205

Gastroenterology:The Digestive Health Center of Midstate Medical Center (The Center) is a dedicated hospital center by board certified gastroenterologists and is located on the Hospital's main...

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Gastroenterology:The Digestive Health Center of Midstate Medical Center (The Center) is a dedicated hospital center by board certified gastroenterologists and is located on the Hospital's main campus. For patients in central Connecticut, The Center is a comprehensive resource for the prevention, diagnosis and treatment of a full range of gastrointestinal disorders that affect the stomach, colon and digestive tract.The staff provides expert care to all of our patients and work together to provide a seamless transition from pre-procedure to procedure and room to home. Our staff ensures that each patient has a visit that is as pleasant and comfortable as possible. We care for inpatients as well as an outpatient population.The Center provides upper services such endoscopies and colonoscopies as well as radiofrequency ablation for patients with high grade Barrett's Esophagus, and ERCP (Endoscopic Retrograde Cholangiopancreatogram). Pulmonologist's frequent our department as we continue to care for patients having Bronchoscope procedures. Some other conditions treated at the Center include: Ulcerative Colitis; GERD (Heartburn); Diverticulitis; Irritable Bowel Syndrome; Crohn's Disease; Barrett's Esophagus; and Colon Cancer.For FY24, the Center had 13,648 cases with an average length of stay of 3.2 days.

Program 3
Expenses: $39,108,634 Revenue: $45,418,402

Orthopedic Spine Conditions:Midstate Spine Care brings together the expertise of specialists in Orthopedic spine surgery, neurosurgery, pain medicine, physical medicine, rehabilitation and...

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Orthopedic Spine Conditions:Midstate Spine Care brings together the expertise of specialists in Orthopedic spine surgery, neurosurgery, pain medicine, physical medicine, rehabilitation and rheumatology to offer patients with back and neck pain the most comprehensive, effective medical and surgical treatment options.Whenever possible, our physicians will prescribe conservative, nonsurgical treatment to get you back to your life quickly and safely.For some problems, however, surgery is the best solution, and Midstate offers the clinical expertise and a wide variety of options for even the most difficult spine conditions. Midstate Medical Center's Spine Surgery Program has earned distinction by the Aetna Institutes of Quality and has been recognized for program excellence related to high-quality care and commitment to continuous improvement.The Hospital Spine Center treats a variety of conditions including, but not limited to: *Chronic back and neck pain *Degenerative back and neck disorders *Spondylolisthesis *Spinal stenosis *Disc herniation *Chiari malformation *Spinal fracture *Deformities, including scoliosis and kyphosis *Primary and metastatic spinal tumorsFor FY24, the Center had 7,784 cases with an average length of stay of 3.2 days. During the previous fiscal year, the Center employed 12 surgeons.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $267,790
Program Service Revenue $435,019,663
Investment Income $7,855,943
Other Revenue $227,406
TOTAL REVENUE $443,370,802

Expense Breakdown

Grants Paid $45,250
Salaries & Benefits $151,687,834
Fundraising Expenses $281,757
Program Expenses $392,397,047
Other Expenses $274,915,673
TOTAL EXPENSES $426,648,757

Year-over-Year Comparison

2023 2022 Change
Revenue $443,370,802 $478,470,804 -0.1%
Expenses $426,648,757 $465,983,868 -0.1%
Net Income $16,722,045 $12,486,936 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
9
Employees
1932
Volunteers
169

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
7
$1,753,380
Total Directors
16
$1,652,463
Key Employees
4
$1,622,599
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Howard Boey MD Director 1.00
Director
$0 $0 $0
Phillip Boiselle MD Director 1.00
Director
$0 $0 $0
Gina Calder Director/President 30.00
Director
$0 $0 $0
Bruce Eldridge Vice Chair 2.00
Officer Director
$0 $0 $0
Jeffrey Finkelstein MD Dir./Interim President (Thru 08/24) 30.00
Officer Director
$0 $71,147 $679,632
Vincent Fortunato Director 1.00
Director
$0 $0 $0
Nadine Francis-West Chair (Thru 06/2024) 0.00
Officer Director
$0 $0 $0
Gary Havican Director/President (Thru 02/2024) 30.00
Officer Director
$0 $136,812 $900,380
Ali Hemdan MD Director (Thru 09/2024) 1.00
Director
$0 $0 $0
Yvette Highsmith Director 1.00
Director
$0 $0 $0
David Hyman DDS Chair 2.00
Officer Director
$0 $0 $0
Cynthia McCraven Director 1.00
Director
$0 $0 $0
John Rathgeber Director (Thru 06/2024) 0.00
Director
$0 $0 $0
David Silverman Director 1.00
Director
$0 $0 $0
Alex Toribio Director 1.00
Director
$0 $0 $0
Joseph Del Mastro VP, Finance 30.00
Officer Director
$0 $4,563 $72,451
Fred Sorbo III Interim VP, Finance (Thru 12/23) 30.00
Officer
$0 $3,839 $100,917
Doris Poma VP, Human Resources 30.00
Key Emp
$0 $15,857 $268,123
Janette Edwards VP, Operations 30.00
Key Emp
$0 $67,245 $397,523
Karen Fasano VP, Patient Care 30.00
Key Emp
$0 $27,381 $369,295
Rockman Ferrigno MD Interim VP, Medical Affairs 30.00
Key Emp
$0 $50,527 $587,658
Manjunath Ramaiah MD Hospitalist 60.00
Highest
$664,109 $23,857 $687,966
Timothy Pratt MD Hospitalist 60.00
Highest
$582,050 $33,887 $615,937
Andrew Metzger MD Medical Director 60.00
Highest
$515,353 $62,050 $577,403
Katherine Stettmeier MD Hospitalist 60.00
Highest
$444,477 $29,948 $474,425
Leslie Muska MD Physician Assistant PDm 60.00
Highest
$457,916 $44,799 $502,715
Sean Curtin Former Officer 0.00
$0 $63,344 $440,432
Elizabeth Ciotti Former Officer 0.00
$0 $32,404 $339,998
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 $443,370,802 $426,648,757 $517,182,671 $16,722,045
2023 $478,470,804 $465,983,868 $474,857,778 $12,486,936
2022 $439,842,089 $424,155,725 $467,211,742 $15,686,364
2021 $410,150,277 $379,470,588 $459,995,708 $30,679,689
2020 $379,906,364 $356,518,886 $402,305,670 $23,387,478
2019 $320,059,067 $291,243,590 $331,693,554 $28,815,477
2018 $283,390,732 $265,279,078 $304,607,474 $18,111,654
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