TRINITY HEALTH OF NEW ENGLAND CORP… - 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

1997

Legal Domicile

Principal Officer

MONTEZ CARTER

Phone

8607141900

Tax Period

2023-10-01 to 2024-09-30

TRINITY HEALTH OF NEW ENGLAND CORPORATION INC, founded in 1997, is a major nonprofit in the Health Care sector that reported $205.4M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year.

Mission

WE, TRINITY HEALTH OF NEW ENGLAND AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES. TRINITY HEALTH OF NEW ENGLAND IS A MEMBER OF TRINITY HEALTH.

Program Service Accomplishments

Program 1

Expenses: $155,559,146 Revenue: $204,311,404

ORGANIZED IN 1997, TRINITY HEALTH OF NEW ENGLAND IS LOCATED IN HARTFORD, CT AND IS THE SOLE MEMBER OF FIVE NONPROFIT HOSPITAL ORGANIZATIONS. TRINITY HEALTH OF NEW ENGLAND HAS DEVELOPED AN...

ORGANIZED IN 1997, TRINITY HEALTH OF NEW ENGLAND IS LOCATED IN HARTFORD, CT AND IS THE SOLE MEMBER OF FIVE NONPROFIT HOSPITAL ORGANIZATIONS. TRINITY HEALTH OF NEW ENGLAND HAS DEVELOPED AN ADMINISTRATIVE ORGANIZATIONAL STRUCTURE TO INTEGRATE THESE NONPROFIT HOSPITALS AND OTHER SUBSIDIARIES. THE ACTIVITY WITHIN THE ORGANIZATION INCLUDES INTEGRATION OF INFORMATION SYSTEMS, FINANCE, MARKETING, BUSINESS DEVELOPMENT, LEGAL, COMPLIANCE AND OTHER ADMINISTRATIVE FUNCTIONS WITH THE GOAL OF REDUCING OVERALL COSTS TO THE MEMBER ORGANIZATIONS. TRINITY HEALTH OF NEW ENGLAND IS AN INTEGRATED HEALTH CARE DELIVERY SYSTEM COMPRISED OF WORLD-CLASS PROVIDERS AND FACILITIES DEDICATED TO THE FULL SPECTRUM OF PREVENTATIVE, ACUTE, AND POST-ACUTE CARE, ALL DELIVERED WITH THE TRIPLE AIM OF BETTER HEALTH, BETTER CARE AND LOWER COSTS FOR OUR PATIENT POPULATIONS. IN NEW ENGLAND, OUR HOSPITALS, WALK-IN CLINICS, MEDICAL OFFICES, SPECIALIZED FACILITIES, AFFILIATED INSTITUTIONS, AND FOUNDATIONS SERVE A POPULATION OF NEARLY 3 MILLION PEOPLE. AS A DYNAMIC PART OF TRINITY HEALTH, ONE OF THE NATION'S LARGEST MULTI-INSTITUTIONAL CATHOLIC HEALTH CARE DELIVERY SYSTEMS, TRINITY HEALTH OF NEW ENGLAND IS UNIQUELY POSITIONED TO ADVANCE HEALTH CARE THROUGH ALLIANCES WITH THE UNIVERSITY OF CONNECTICUT SCHOOL OF MEDICINE, THE FRANK H. NETTER MD SCHOOL OF MEDICINE AT QUINNIPIAC UNIVERSITY, AND THROUGH OUR OWN RESEARCH INSTITUTIONS DEDICATED TO THE DEVELOPMENT OF PRIMARY CARE, NEW TREATMENTS FOR CANCER AND MULTIPLE SCLEROSIS, AND MUCH MORE. PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION: WWW.TRINITYHEALTHOFNE.ORG

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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 $5,000

Program Service Revenue $204,311,404

Investment Income $1,348,614

Other Revenue $-303,196

TOTAL REVENUE $205,361,822

Expense Breakdown

Grants Paid $94,231

Salaries & Benefits $79,574,341

Fundraising Expenses $0

Program Expenses $155,559,146

Other Expenses $125,638,066

TOTAL EXPENSES $205,306,638

Year-over-Year Comparison

	2023	2022	Change
Revenue	$205,361,822	$230,952,220	-0.1%
Expenses	$205,306,638	$239,038,425	-0.1%
Net Income	$55,184	$-8,086,205	-1.0%

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

9115

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

$2,534,156

Total Directors

$3,175,253

Key Employees

$1,072,442

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MONTEZ CARTER	DIRECTOR; PRESIDENT/CEO	50.00	Officer Director	$0	$270,752	$1,638,045
JAMES SMITH	DIRECTOR; CHAIR THROUGH 12/23	1.00	Officer Director	$0	$0	$0
JOANN PRICE	DIR V CHR THROUGH 12/23; CHR AT 1/24	1.00	Officer Director	$0	$0	$0
WALTER HARRISON	DIRECTOR; VICE CHAIR AS OF 1/24	1.00	Officer Director	$0	$0	$0
MOST REV JUAN MIGUEL BETANCOURT	DIRECTOR	1.00	Director	$0	$0	$0
EMILY BROWER	DIRECTOR; TRINITY SVP CLINICAL INTG	1.00	Director	$0	$177,280	$961,884
GREGORY DAVIS	DIRECTOR THROUGH 12/23	1.00	Director	$0	$0	$0
ROBERT GUMBARDO MD	DIRECTOR	1.00	Director	$0	$0	$0
AROSHA JAYAWICKREMA	DIRECTOR AS OF 1/24	1.00	Director	$0	$0	$0
JOHN KINNEY	DIRECTOR AS OF 1/24	1.00	Director	$0	$0	$0
KARL KRAPEK	DIRECTOR	1.00	Director	$0	$0	$0
NANCY KROEBER	DIRECTOR	1.00	Director	$0	$0	$0
JOYCE MANDELL	DIRECTOR THROUGH 12/23	1.00	Director	$0	$0	$0
BARBARA MULLEN CSJ	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE SPATH MD	DIRECTOR, MEDICAL STAFF PRESIDENT	1.00	Director	$0	$52,055	$575,324
MICHELLE THEROUX	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT ANTHONY	SECRETARY; VP MANAGING COUNSEL	44.00	Officer	$0	$124,357	$769,952
SHERI LEMIEUX	ASST SECY; ASSISTANT TO PRES/CEO	35.00	Officer	$109,978	$16,181	$126,159
SEAN FITZPATRICKPD BY MGMT CO	TREAS; INTERIM REG CFO AS OF 10/23	44.00	Officer	$0	$0	$0
SYED HUSSAIN MD	CHIEF CLINICAL AND CHWB EXECUTIVE	54.00	Key Emp	$0	$137,353	$1,072,442
PETRENA SAUNDERS	VP CHIEF HEALTH INFO OFCR THRU 11/23	50.00	Highest	$0	$449,025	$990,548
LISA ZAPATKA	CHIEF NURSING OFFICER	50.00	Highest	$0	$102,859	$604,318
MIKE RYAN	REGIONAL VP OF FINANCE	40.00	Highest	$0	$49,064	$483,458
PAMELA DEL NEGRO	VP COMPLIANCE	50.00	Highest	$0	$50,384	$392,940
MAUREEN LANZONI	CHIEF HUMAN RESOURCES OFFICER	50.00	Highest	$0	$29,305	$358,267
DAVID BITTNER	FORMER OFFICER	0.00		$0	$571,302	$1,263,682
REGINALD EADIE MD	FORMER OFFICER; TRINITY HEALTH SVP	0.00		$0	$324,537	$2,032,870
JENNIFER SCHNEIDER	FORMER OFFICER	0.00		$0	$388,340	$966,813
DANYAL IBRAHIM	FORMER HIGHEST COMPENSATED EMP.	0.00		$407,355	$40,849	$448,204

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	$205,361,822	$205,306,638	$548,315,541	$55,184
2023	$230,952,220	$239,038,425	$558,926,740	$-8,086,205
2022	$245,426,062	$234,311,286	$555,288,962	$11,114,776
2021	$237,315,884	$238,544,919	$683,679,706	$-1,229,035
2020	$251,840,818	$249,443,066	$658,047,910	$2,397,752
2019	$224,778,195	$226,790,424	$383,797,982	$-2,012,229
2018	$214,630,705	$216,696,922	$433,272,010	$-2,066,217

TRINITY HEALTH OF NEW ENGLAND CORPORATION INC