THE MILFORD HOSPITAL INC

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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

1942

Legal Domicile

Principal Officer

LAURA SMITH

Phone

2033011634

Tax Period

2019-10-01 to 2020-09-30

Mission

TO EFFECTIVELY AND EFFICIENTLY PROVIDE HIGH QUALITY HEALTHCARE SERVICES.THE HOSPITAL SOLD ITS ASSETS AND CEASED OPERATIONS EFFECTIVE JUNE 9, 2019.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

EFFECTIVE JUNE 9, 2019, THE HOSPITAL SOLD SUBSTANTIALLY ALL ASSETS AND TRANSFERRED CERTAIN LIABILITIES USED IN OR INCIDENTAL TO THE CONDUCT OF THE BUSINESS TO YALE-NEW HAVEN HEALTH SERVICES...

EFFECTIVE JUNE 9, 2019, THE HOSPITAL SOLD SUBSTANTIALLY ALL ASSETS AND TRANSFERRED CERTAIN LIABILITIES USED IN OR INCIDENTAL TO THE CONDUCT OF THE BUSINESS TO YALE-NEW HAVEN HEALTH SERVICES CORPORATION AND BRIDGEPORT HOSPITAL ("THE BUYER"), AND THIS REPORTING ENTITY WILL NO LONGER OPERATE. THE OPERATIONS OF THIS REPORTING ENTITY, HOWEVER, WILL CONTINUE UNDER THE CONTROL OF THE BUYER, WHICH IS UNRELATED TO THE COMPANY.

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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 (2019)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $0

TOTAL EXPENSES $0

Year-over-Year Comparison

	2019	2018	Change
Revenue	N/A	$38,834,756	-1.0%
Expenses	N/A	$51,473,318	-1.0%
Net Income	N/A	$-12,638,562	N/A

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

669

Volunteers

N/A

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

$104,665

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR MICHAEL RUDOLPH	PHYSICIAN	40.00	Highest	$143,493	$15,582	$159,075
DR PATRICK BENTON	PHYSICIAN	40.00	Highest	$146,508	$6,881	$153,389
DR RESUL DALIPI	PHYSICIAN	40.00	Highest	$134,024	$15,136	$149,160
DR MAMTA PATEL	PHYSICIAN	40.00	Highest	$134,150	$6,844	$140,994
LAURA SMITH	VP FINANCE & CFO	38.00	Officer	$89,896	$14,769	$104,665
MARK TONEY	PRESIDENT/CEO/CRO	30.00	Officer	$0	$0	$0
SAMUEL S BERGAMI JR	CHAIR	2.00	Officer Director	$0	$0	$0
LOUIS D'AMATO	VICE CHAIR (UNTIL 11/2019)	1.00	Officer Director	$0	$0	$0
RICHARD MEISENHEIMER	TREASURER (UNTIL 11/2019)	1.00	Officer Director	$0	$0	$0
MICHAEL SAFFER ESQ	SECRETARY (UNTIL 11/2019)	1.00	Officer Director	$0	$0	$0
NANCY BENNETT	DIRECTOR	1.00	Director	$0	$0	$0
ARMAND CANTAFIO	DIRECTOR	1.00	Director	$0	$0	$0
JAMES BEARD	DIRECTOR (UNTIL 11/2019)	1.00	Director	$0	$0	$0
LEO CARROLL ESQ	DIRECTOR (UNTIL 11/2019)	1.00	Director	$0	$0	$0
BRADFORD GESLER	DIRECTOR (UNTIL 11/2019)	1.00	Director	$0	$0	$0
LEN NAPOLI JR	DIRECTOR (UNTIL 11/2019)	1.00	Director	$0	$0	$0
ANN LOESCH	DIRECTOR (UNTIL 11/2019)	0.50	Director	$0	$0	$0
CAROL MCINNIS	DIRECTOR (UNTIL 11/2019)	0.50	Director	$0	$0	$0
RAYMOND S OLIVER	DIRECTOR (UNTIL 11/2019)	0.50	Director	$0	$0	$0
GARY OPIN DMD	DIRECTOR (UNTIL 11/2019)	0.50	Director	$0	$0	$0
RONALD SILVERBERG	DIRECTOR (UNTIL 11/2019)	0.50	Director	$0	$0	$0
JOY TOPAZIAN MOORE ESQ	DIRECTOR (UNTIL 11/2019)	0.50	Director	$0	$0	$0
VIJAY CHHABRA MD	MED STAFF PRESIDENT (UNTIL 11/2019)	1.00	Director	$0	$0	$0
SUZANNE BELIVEAU	AUXILIARY PRESIDENT (UNTIL 11/2019)	0.50	Director	$0	$0	$0
ROBERT LEWIS MD NON-VOTING	MED STAFF REP. (UNTIL 11/2019)	0.50	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
2020	No data	No data	No data	No data
2019	$38,834,756	$51,473,318	No data	$-12,638,562
2018	$66,968,069	$69,460,999	$34,051,608	$-2,492,930