Putnam Hospital Center Foundation Inc

EIN: 061399319 501(c)(3) Health Care

CARMEL, NY

Total Revenue
$537,399
Total Expenses
$908,126
Total Assets
$15,905,420
Net Assets
$15,827,167
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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
1986
Legal Domicile
NY
Phone
8454759500
Tax Period
2023-10-01 to 2024-09-30

Putnam Hospital Center Foundation Inc, founded in 1986, is a small nonprofit in the Health Care sector that reported $537K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $908K exceeded revenue, resulting in a 69% operating deficit.

Mission

FUNDRAISING FOR SUPPORT OF PUTNAM HOSPITAL CENTER'S SERVICES AND PROGRAMS.

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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 $436,526
Program Service Revenue $0
Investment Income $100,873
Other Revenue $0
TOTAL REVENUE $537,399

Expense Breakdown

Grants Paid $772,907
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $772,907
Other Expenses $135,219
TOTAL EXPENSES $908,126

Year-over-Year Comparison

2023 2022 Change
Revenue $537,399 $835,664 -0.4%
Expenses $908,126 $445,474 +1.0%
Net Income $-370,727 $390,190 -2.0%
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

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Governance

Voting Members
10
Independent Members
9
Employees
N/A
Volunteers
12

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
$3,852,026
Total Directors
12
$750,948
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH A DEMARZO VICE CHAIR (TO 12/31); CHAIR (FROM 01/01) 1.0
Officer Director
$0 $0 $0
LORETTA MOLINARI VICE CHAIR (FROM 01/01) 1.0
Officer Director
$0 $0 $0
MARK K HIRKO MD PRESIDENT - PUTNAM HOSPITAL 0.5
Officer Director
$0 $45,894 $750,948
WAYNE RYDER CHAIR (TO 12/31) 1.0
Officer Director
$0 $0 $0
BARBARA TUFANO DIRECTOR (FROM 01/01) 0.5
Director
$0 $0 $0
CORRINNE DIVESTEA DIRECTOR 0.5
Director
$0 $0 $0
JEFFREY KELLOGG DIRECTOR 0.5
Director
$0 $0 $0
JOSEPH ROBERTO DIRECTOR 0.5
Director
$0 $0 $0
JUSTIN MUENZ DIRECTOR 0.5
Director
$0 $0 $0
KENNETH KEARNEY DIRECTOR 0.5
Director
$0 $0 $0
MARJORIE L KEITH DIRECTOR 0.5
Director
$0 $0 $0
RAYMOND DURKIN DIRECTOR (TO 12/31) 0.5
Director
$0 $0 $0
BRIAN WYATT SECRETARY & CHIEF LEGAL OFFICER 0.5
Officer
$0 $124,638 $758,850
DANIEL DEBARBA CHIEF FINANCIAL OFFICER; TREASURER 0.5
Officer
$0 $175,627 $1,649,792
GRACE LINHARD CHIEF DEVELOPMENT OFFICER 8.5
Officer
$0 $76,482 $692,436
PETER A KELLY FORMER PHC PRESIDENT; VBMC PRESIDENT 0.0
$0 $14,267 $254,347
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 $537,399 $908,126 $15,905,420 $-370,727
2023 $835,664 $445,474 $14,266,035 $390,190
2022 $1,116,405 $160,366 $15,382,448 $956,039
2021 $1,019,685 $3,146,501 $17,725,980 $-2,126,816
2018 $1,617,330 $946,675 $14,910,063 $670,655
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