Nuvance Health Medical Practice CT… - Form 990 Financial Data

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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

1985

Legal Domicile

Phone

2037397000

Tax Period

2023-10-01 to 2024-09-30

Nuvance Health Medical Practice CT Inc, founded in 1985, is a major nonprofit that reported $423.7M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

IMPROVE THE HEALTH OF EVERY PERSON IN OUR COMMUNITY THROUGH THE EFFICIENT DELIVERY OF EXCELLENT, INNOVATIVE AND COMPASSIONATE CARE.

Program Service Accomplishments

Program 1

Expenses: $421,383,604 Revenue: $421,139,255

NUVANCE HEALTH MEDICAL PRACTICE CT (NHMP CT) PROVIDES VARIOUS PRIMARY CARE AND SUB-SPECIALTY SERVICES INCLUDING FAMILY MEDICINE, INTERNAL MEDICINE, PEDIATRICS, SURGICAL SERVICES, CARDIOLOGY...

NUVANCE HEALTH MEDICAL PRACTICE CT (NHMP CT) PROVIDES VARIOUS PRIMARY CARE AND SUB-SPECIALTY SERVICES INCLUDING FAMILY MEDICINE, INTERNAL MEDICINE, PEDIATRICS, SURGICAL SERVICES, CARDIOLOGY, PULMONOLOGY, GASTROENTEROLOGY, RHEUMATOLOGY, PHYSICAL MEDICINE, ENDOCRINOLOGY, INFECTIOUS DISEASES, NEPHROLOGY, BREAST SURGERY, ONCOLOGY, BARIATRIC SURGERY, NEUROLOGY, SLEEP MEDICINE, OBSTETRICS AND GYNECOLOGY, BEHAVIORAL HEALTH, AND PALLIATIVE MEDICINE. NHMP CT ALSO PROVIDES VARIOUS HOSPITAL BASED SERVICES SUCH AS ANESTHESIOLOGY HOSPITAL MEDICINE AND EMERGENCY MEDICINE. NHMP CT SERVICES DANBURY AND NORWALK, AS WELL AS THE SURROUNDING TOWNS. THERE ARE APPROXIMATELY 56 LOCATIONS SERVING AREAS IN WESTERN CONNECTICUT. 176,117 PATIENTS DURING FISCAL YEAR 2024 835,698 VISITS DURING FISCAL YEAR 2024 $8,540,582 - CHARITY CARE DURING FISCAL YEAR 2024 NHMP CT SERVES INDIVIDUALS OF ALL INCOME LEVELS AND FOLLOWS THE FINANCIAL ASSISTANCE POLICY ESTABLISHED BY ITS PARENT ORGANIZATION, NUVANCE HEALTH, AND FOLLOWED BY DANBURY AND NORWALK HOSPITALS.

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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 $1,867,660

Program Service Revenue $417,064,916

Investment Income $77

Other Revenue $4,743,603

TOTAL REVENUE $423,676,256

Expense Breakdown

Grants Paid $0

Salaries & Benefits $347,486,897

Fundraising Expenses $0

Program Expenses $421,383,604

Other Expenses $92,745,791

TOTAL EXPENSES $440,232,688

Year-over-Year Comparison

	2023	2022	Change
Revenue	$423,676,256	$377,660,174	+0.1%
Expenses	$440,232,688	$399,746,820	+0.1%
Net Income	$-16,556,432	$-22,086,646	-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

N/A

Employees

1859

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

$4,254,542

Total Directors

$8,717,831

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER M LEHRACH MD	PRESIDENT/CHIEF PHYSICIAN EXECUTIVE	12.0	Officer Director	$0	$64,150	$1,438,820
PATRICK BRODERICK MD	CHAIR	43.0	Officer Director	$85,047	$4,040	$89,915
SHANTALA SONNAD MD	VICE CHAIR	3.0	Officer Director	$0	$56,308	$317,165
AARTI CAMPO MD	DIRECTOR	2.0	Director	$0	$63,829	$1,054,693
AMBER MITCHELL MD	DIRECTOR/ PHYSICIAN-CLINICAL	2.0	Director	$0	$14,205	$816,062
CHARLES HERRICK MD	DIRECTOR	42.0	Director	$766,238	$66,779	$833,017
CRAIG SERIN MD	DIRECTOR/ STAFF PHYSICIAN	42.0	Director	$422,042	$21,687	$443,729
DANIEL CRUSER MD	DIRECTOR/ MED. DEPT. CHIEF	2.0	Director	$0	$22,194	$723,825
JAMES NITZKORSKI MD	DIRECTOR/PHYSICIAN-CLINICAL	2.0	Director	$0	$60,234	$705,259
LORRAINE ALLEGRO-SKINNER MD	DIRECTOR/PHYSICIAN-CLINICAL	2.0	Director	$0	$60,677	$281,228
PAUL FIEDLER MD	DIRECTOR/STAFF PHYSICIAN	42.0	Director	$445,153	$65,133	$510,286
STEVEN GORELICK MD	DIRECTOR/SYS CHAIR D.H.I	42.0	Director	$838,231	$47,029	$885,260
THOMAS KOOBATIAN MD	DIRECTOR/ EXEC DIR-COS-NMH	42.0	Director	$557,037	$61,535	$618,572
BRIAN WYATT	SECRETARY & CHIEF LEGAL OFFICER	2.0	Officer	$0	$124,638	$758,850
DANIEL DEBARBA	CHIEF FINANCIAL OFFICER; TREASURER	2.0	Officer	$0	$175,627	$1,649,792
DIMITRY ZILBERMAN DO	PHYSICIAN	40.0	Highest	$1,264,556	$60,234	$1,324,790
LINUS T CHUANG MD	NETWORK CHAIRMAN OB/GYN	40.0	Highest	$1,258,862	$44,223	$1,303,085
MARK K WARSHOFSKY MD	SVP & SYS. CHAIRMAN HEART & VASC. INST.	20.0	Highest	$1,097,649	$63,729	$1,161,378
RICHARD KAPLON MD	SECTION CHIEF CARDIOTHORACIC SURGERY	40.0	Highest	$1,680,354	$68,429	$1,748,783
VINCENT S LENCZEWSKI MD	STAFF PHYSICIAN	40.0	Highest	$1,174,332	$47,691	$1,222,023
CORNELIUS FERREIRA MD	FORMER DIRECTOR	0.0		$0	$11,741	$136,456
MARTIN J SERRINS MD	FORMER CHAIR; PHYSICIAN	40.0		$337,488	$49,913	$387,401

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	$423,676,256	$440,232,688	$195,933,695	$-16,556,432
2023	$377,660,174	$399,746,820	$194,641,047	$-22,086,646
2022	$352,148,695	$357,835,609	$186,188,493	$-5,686,914
2021	$331,745,572	$329,701,670	$186,538,535	$2,043,902
2019	$295,023,966	$305,822,586	$51,472,052	$-10,798,620
2018	$247,564,516	$262,451,150	$55,642,980	$-14,886,634

Nuvance Health Medical Practice CT Inc