Midstate Medical Center (EIN 060646715) - 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

1885

Legal Domicile

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.

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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 $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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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

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

$1,753,380

Total Directors

$1,652,463

Key Employees

$1,622,599

Highest Compensated

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

Midstate Medical Center