BRISTOL HOSPITAL MULTI-SPECIALTY G… - 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

2011

Legal Domicile

Principal Officer

KURT BARWIS

Phone

8605853469

Tax Period

2023-10-01 to 2024-09-30

BRISTOL HOSPITAL MULTI-SPECIALTY GROUP INC, founded in 2011, is a mid-sized nonprofit in the Health Care sector that reported $38.3M in total revenue in fiscal year 2023. Expenses of $56.1M exceeded revenue, resulting in a 47% operating deficit.

Mission

TO PROVIDE ACCESSIBLE, HIGH QUALITY, SUSTAINABLE, PATIENT-CENTERED HEALTH CARE IN THE COMMUNITY, AND TO RESPOND TO THE EVOLVING HEALTH CARE NEEDS OF THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $47,917,003 Revenue: $27,574,766

THE BRISTOL HOSPITAL MULTISPECIALTY GROUP WAS FORMED TO DELIVER A FULL RANGE OF HEALTH AND SPECIALTY CARE SERVICES AT CONVENIENT LOCATIONS THROUGHOUT BRISTOL, CONNECTICUT, AND THE SURROUNDING TOWNS. THEY PROVIDE ACCESSIBLE, HIGH QUALITY, EVIDENCE-BASED, STATE-OF-THE-ART, COST-EFFECTIVE, COMPASSIONATE AND PATIENT-CENTERED HEALTH CARE IN THE COMMUNITIES SERVED BY BRISTOL HOSPITAL. THEY RESPOND APPROPRIATELY TO EVOLVING COMMUNITY HEALTH CARE NEEDS AND TO CHANGES IN TECHNOLOGY AND THE HEALTH CARE SYSTEM; AND THEY ASSURE A SUSTAINABLE LEGACY OF HEALTH CARE SERVICE EXCELLENCE IN THOSE COMMUNITIES. THESE SERVICES ARE AVAILABLE TO ALL PERSONS, WITHOUT REGARD TO THEIR ABILITY TO PAY FOR SUCH SERVICES, AND ARE OPERATIONAL AT ALL TIMES IN FURTHERANCE OF THE TAX-EXEMPT CHARITABLE MISSIONS OF BRISTOL HOSPITAL AND HEALTH CARE GROUP, INC. THE ORGANIZATION'S PHYSICIANS PROVIDE FREQUENT COMMUNITY-WIDE EDUCATION SUCH AS SEMINARS, ARTICLES IN THE LOCAL NEWSPAPERS, AND SESSIONS AT THE SENIOR CENTERS AND SCHOOLS. THESE COMMUNITY EVENTS ALSO PROVIDE THE PUBLIC THE OPPORTUNITY TO INTERACT WITH THE PHYSICIANS AT NO COST.

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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 $9,460,303

Program Service Revenue $27,574,766

Investment Income $-22,512

Other Revenue $1,310,376

TOTAL REVENUE $38,322,933

Expense Breakdown

Grants Paid $0

Salaries & Benefits $38,753,167

Fundraising Expenses $0

Program Expenses $47,917,003

Other Expenses $17,394,425

TOTAL EXPENSES $56,147,592

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,322,933	$39,085,453	0.0%
Expenses	$56,147,592	$56,350,859	0.0%
Net Income	$-17,824,659	$-17,265,406	+0.0%

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

Governance

Voting Members

Independent Members

Employees

352

Volunteers

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

$1,977,889

Total Directors

$3,708,676

Key Employees

$436,305

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS ANN MEANEY	PRESIDENT OF BHMG	5.00	Officer Director	$0	$1,230	$331,607
KURT BARWIS	PRESIDENT, CEO & CFO	2.00	Officer Director	$0	$37,738	$687,770
RUPALINI RAWAL-DHINGRA MD	CHAIR OF THE BOARD	40.00	Officer Director	$370,527	$28,912	$399,439
MARGARITA REYES MD	VICE CHAIR (UNTIL 5/23)	40.00	Officer Director	$324,208	$15,583	$339,791
JOHN LODOVICO JR	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
GLENN HEISER	DIRECTOR (UNTIL 4/24)	2.00	Director	$0	$0	$0
LIRAN BLUM MD	DIRECTOR / PHYSICIAN	40.00	Director	$447,429	$28,912	$476,341
TOSHITA KUMAR MD	DIRECTOR (UNTIL 11/23) / PHYSICIAN	40.00	Director	$390,644	$147	$390,791
KEONA DAWSON-CAMEROTA APRN	DIRECTOR (UNTIL 1/24)	40.00	Director	$149,492	$139	$149,631
ROBERT BLACK MD	VICE CHAIR OF THE BOARD	2.00	Director	$434,871	$148	$435,019
MATTHEW HUNT APRN	DIRECTOR	2.00	Director	$110,383	$5,852	$116,235
LOUIS AULETTA JR	DIRECTOR	2.00	Director	$0	$0	$0
SAIMA PASHA	DIRECTOR	2.00	Director	$381,904	$148	$382,052
HENRY EDWARD VINCENT	EXECUTIVE DIRECTOR	30.00	Officer	$0	$14,197	$219,282
ANDREW LIM MD	MEDICAL DIRECTOR	40.00	Key Emp	$435,923	$382	$436,305
KAI HANS HAMMERICH	PHYSICIAN	40.00	Highest	$1,242,323	$2,905	$1,245,228
THOMAS O'SHEA	PHYSICIAN	40.00	Highest	$712,193	$22,483	$734,676
KYLE LAVERY	PHYSICIAN	40.00	Highest	$585,596	$31,737	$617,333
MORENIKEJI AYODELE BURAIMOH	PHYSICIAN	40.00	Highest	$659,409	$28,912	$688,321
VANESSA MALIT	PHYSICIAN	40.00	Highest	$694,169	$32,303	$726,472

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	$38,322,933	$56,147,592	$13,995,466	$-17,824,659
2023	$39,085,453	$56,350,859	$15,526,638	$-17,265,406
2022	$38,393,054	$52,099,267	$5,357,518	$-13,706,213
2021	$37,683,739	$47,500,943	$6,063,010	$-9,817,204
2020	$35,976,255	$45,097,443	$5,842,306	$-9,121,188
2019	$30,566,320	$39,100,727	$4,540,741	$-8,534,407
2018	$30,178,956	$34,588,257	$4,050,946	$-4,409,301

BRISTOL HOSPITAL MULTI-SPECIALTY GROUP INC