GRIFFIN FACULTY PHYSICIANS INC

EIN: 061463147 501(c)(3) Health Care

DERBY, CT

Total Revenue
$38,588,793
Total Expenses
$51,022,681
Total Assets
$14,156,342
Net Assets
$2,158,302
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
CT
Principal Officer
PATRICK S CHARMEL
Phone
2037321447
Tax Period
2023-10-01 to 2024-09-30

GRIFFIN FACULTY PHYSICIANS INC, founded in 1996, is a mid-sized nonprofit in the Health Care sector that reported $38.6M in total revenue in fiscal year 2023. Expenses of $51.0M exceeded revenue, resulting in a 32% operating deficit.

Mission

PROVIDE MEDICAL SERVICES FOR THE PATIENTS OF GRIFFIN HOSPITAL AND THE COMMUNITY SERVED BY THE HOSPITAL. GRIFFIN FACULTY PHYSICIANS ALSO PROVIDES TEACHING SERVICES FOR GRIFFIN HOSPITAL'S GRADUATE MEDICAL EDUCATION PROGRAMS AND CONDUCT PREVENTIVE HEALTH SERVICES RESEARCH.

Program Service Accomplishments

Program 1
Expenses: $45,754,825 Revenue: $38,585,993

PROVIDE MEDICAL SERVICES FOR THE PATIENTS OF GRIFFIN HOSPITAL AND THE COMMUNITY SERVED BY THE HOSPITAL. GRIFFIN FACULTY PHYSICIANS ALSO PROVIDES TEACHING SERVICES FOR GRIFFIN HOSPITAL'S GRADUATE...

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PROVIDE MEDICAL SERVICES FOR THE PATIENTS OF GRIFFIN HOSPITAL AND THE COMMUNITY SERVED BY THE HOSPITAL. GRIFFIN FACULTY PHYSICIANS ALSO PROVIDES TEACHING SERVICES FOR GRIFFIN HOSPITAL'S GRADUATE MEDICAL EDUCATION PROGRAMS AND CONDUCT PREVENTIVE HEALTH SERVICES RESEARCH.

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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 $0
Program Service Revenue $38,585,993
Investment Income $0
Other Revenue $2,800
TOTAL REVENUE $38,588,793

Expense Breakdown

Grants Paid $0
Salaries & Benefits $37,930,970
Fundraising Expenses $0
Program Expenses $45,754,825
Other Expenses $13,091,711
TOTAL EXPENSES $51,022,681

Year-over-Year Comparison

2023 2022 Change
Revenue $38,588,793 $37,907,589 +0.0%
Expenses $51,022,681 $51,245,477 0.0%
Net Income $-12,433,888 $-13,337,888 -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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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
N/A
Employees
130
Volunteers
4

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
$2,382,427
Total Directors
4
$2,382,427
Key Employees
2
$434,917
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FREDERICK BROWNE MD PRESIDENT 40.00
Officer Director
$453,215 $47,176 $500,391
DENISE BARAJAS MD VICE PRESIDENT 40.00
Officer Director
$361,032 $32,669 $393,701
PATRICK CHARMEL SECRETARY 3.00
Officer Director
$0 $40,515 $1,010,141
ALEXANDER S BALKO TREASURER 3.00
Officer Director
$0 $42,212 $478,194
ADAM M DWORKIN VICE PRESIDENT (LEFT 11/11/23) 40.00
Key Emp
$0 $35,836 $229,129
DEBORAH A HENNESSY ASSISTANT VP 40.00
Key Emp
$0 $18,689 $205,788
RICHARD P SALZANO JR PHYSICIAN 40.00
Highest
$508,796 $43,124 $551,920
GRACE A BIGGS MD PHYSICIAN 40.00
Highest
$658,545 $40,966 $699,511
MARK A MARIEB MD PHYSICIAN 40.00
Highest
$678,070 $36,949 $715,019
JONATHAN T SIMON PHYSICIAN 40.00
Highest
$691,794 $30,839 $722,633
SCOTT A VANDER VENNET MD PHYSICIAN 40.00
Highest
$517,469 $33,022 $550,491
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 $38,588,793 $51,022,681 $14,156,342 $-12,433,888
2023 $37,907,589 $51,245,477 $15,183,798 $-13,337,888
2022 $34,562,008 $45,457,730 $14,312,661 $-10,895,722
2021 $29,375,664 $36,321,621 $13,034,587 $-6,945,957
2020 $22,503,842 $30,330,024 $12,511,656 $-7,826,182
2019 $20,796,034 $26,871,871 $4,342,006 $-6,075,837
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