The Hospital of Central Connecticut (EIN 060646768) - 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

1893

Legal Domicile

Principal Officer

Gina Calder

Phone

8606963530

Tax Period

2023-10-01 to 2024-09-30

The Hospital of Central Connecticut, founded in 1893, is a major nonprofit in the Health Care sector that reported $776.5M in total revenue in fiscal year 2023. Expenses of $715.6M left a modest 8% surplus.

Mission

The Hospital of Central Connecticut is dedicated to fostering, sustaining and improving the health status of the people in the 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 $3,464,054

Program Service Revenue $762,405,500

Investment Income $12,144,945

Other Revenue $-1,558,739

TOTAL REVENUE $776,455,760

Expense Breakdown

Grants Paid $40,000

Salaries & Benefits $304,267,138

Fundraising Expenses $476,760

Program Expenses $679,216,259

Other Expenses $411,279,798

TOTAL EXPENSES $715,586,936

Year-over-Year Comparison

	2023	2022	Change
Revenue	$776,455,760	$740,893,645	+0.0%
Expenses	$715,586,936	$676,763,697	+0.1%
Net Income	$60,868,824	$64,129,948	-0.1%

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

3414

Volunteers

457

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

$1,749,994

Total Directors

$1,580,012

Key Employees

$1,640,482

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	Officer Director	$0	$0	$0
Bruce Eldridge	Vice Chair	2.00	Officer Director	$0	$0	$0
Vincent Fortunato	Director	1.00	Director	$0	$0	$0
Nadine Francis-West	Chair (Thru 06/24)	2.00	Officer Director	$0	$0	$0
Gary Havican	Director/President (Thru 02/24)	30.00	Officer Director	$0	$136,812	$900,380
Ali Hemdan MD	Director (Thru 09/24)	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 MD	Director	1.00	Director	$0	$0	$0
John Rathgeber	Director (Thru 06/24)	1.00	Director	$0	$0	$0
David Silverman	Director	1.00	Director	$0	$0	$0
Alex Toribio	Director	1.00	Director	$0	$0	$0
Jeffrey Finkelstein MD	Director/Interim President(Thru8/24)	30.00	Officer Director	$0	$71,147	$679,632
Fred Sorbo III	Interim VP, Finance (Thru 12/23)	30.00	Officer	$0	$3,839	$100,916
Joseph Del Mastro	VP, Finance	30.00	Officer	$0	$1,178	$69,066
Doris Poma	VP, Human Resources	30.00	Key Emp	$0	$33,740	$286,006
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
Haklai P Lau	Hospitalist	60.00	Highest	$1,145,620	$23,100	$1,168,720
Umar Mahmud	Hospitalist	60.00	Highest	$538,342	$59,252	$597,594
Sharon Weintraub	Medical Director, Trauma	60.00	Highest	$512,282	$35,922	$548,204
Rekinder Singh	Chief of Surgery	60.00	Highest	$510,075	$60,903	$570,978
Mohammed Shams	Chief of Medicine	60.00	Highest	$507,749	$61,039	$568,788
Sean Curtin	Former VP, Finance	0.00		$0	$63,344	$440,432
Elizabeth Ciotti	Former VP, Care Logistic Center	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	$776,455,760	$715,586,936	$839,062,058	$60,868,824
2023	$740,893,645	$676,763,697	$765,243,892	$64,129,948
2022	$650,286,838	$612,855,807	$704,869,483	$37,431,031
2021	$587,568,789	$535,056,811	$664,024,187	$52,511,978
2020	$510,239,174	$478,209,539	$589,328,146	$32,029,635
2020	$510,239,174	$478,209,539	$589,328,146	$32,029,635
2019	$460,866,378	$431,552,831	$516,517,817	$29,313,547
2018	$418,021,472	$398,646,102	$500,886,603	$19,375,370

The Hospital of Central Connecticut