Hospital For Special Care Foundation Inc

EIN: 061534092 501(c)(3) Philanthropy & Grantmaking

New Britain, CT

Total Revenue
$2,178,267
Total Expenses
$835,711
Total Assets
$19,030,378
Net Assets
$18,879,547
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
CT
Principal Officer
Lynn Ricci
Phone
8608274842
Tax Period
2024-04-01 to 2025-03-31

Hospital For Special Care Foundation Inc, founded in 1999, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.2M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 62% operating margin.

Mission

THE HOSPITAL FOR SPECIAL CARE FOUNDATION, INC. OPERATES EXCLUSIVELY FOR THE BENEFIT OF HOSPITAL FOR SPECIAL CARE & ITS AFFILIATES BY SOLICITING & RECEIVING CONTRIBUTIONS GRANTS, DONATIONS, BEQUESTS AND FUNDRAISING. THE FOUNDATION ALSO ACCEPTS, HOLD, INVESTS, & ADMINSTERS ANY OF THE ABOVE MENTIONED & MAKES DISTRIBUTIONS IN FURTHERANCE OF THE MISSION OF THE HOSPITAL AND ITS AFFILIATES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,482,859
Program Service Revenue $0
Investment Income $598,231
Other Revenue $97,177
TOTAL REVENUE $2,178,267

Expense Breakdown

Grants Paid $301,322
Salaries & Benefits $462,709
Fundraising Expenses $487,274
Program Expenses $301,322
Other Expenses $71,680
TOTAL EXPENSES $835,711

Year-over-Year Comparison

2024 2023 Change
Revenue $2,178,267 $1,714,443 +0.3%
Expenses $835,711 $1,012,064 -0.2%
Net Income $1,342,556 $702,379 +0.9%
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
3
Independent Members
2
Employees
N/A
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
5
$2,316,056
Total Directors
3
$1,451,041
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Lynn Ricci FACHE President & CEO 1.20
Officer Director
$10,086 $19,278 $1,451,041
Laurie A Rudman Treasurer 1.00
Officer
$6,964 $44,044 $476,016
Megan A McGovern Esq Secretary 0.80
Officer
$3,738 $10,830 $317,008
Anna Maria Andarowski Asst. Secretary 0.00
Officer
$0 $0 $71,991
Tracy McKaveney CPA Board Member 0.06
Director
$0 $0 $0
Diane R Chace Esq Chairman 0.06
Officer Director
$0 $0 $0
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
2025 $2,178,267 $835,711 $19,030,378 $1,342,556
2024 $1,714,443 $1,012,064 $17,163,999 $702,379
2023 $857,837 $938,400 $14,439,662 $-80,563
2022 $1,573,130 $1,431,230 $15,511,890 $141,900
2021 $1,642,600 $1,483,752 $14,883,253 $158,848
2020 $3,421,389 $2,683,268 $11,463,300 $738,121
2019 $2,411,297 $1,774,250 $11,800,063 $637,047
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