The Norwalk Hospital Association (EIN 066068853) - Form 990 Financial Analysis & Trantor Score

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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

1893

Legal Domicile

Phone

2037394593

Tax Period

2023-10-01 to 2024-09-30

The Norwalk Hospital Association, founded in 1893, is a major nonprofit in the Health Care sector that reported $433.1M in total revenue in fiscal year 2023.

Mission

Improve the health of every person in our community through the efficient delivery of excellent, innovative and compassionate care.

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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 $12,012,412

Program Service Revenue $409,549,190

Investment Income $7,691,400

Other Revenue $3,836,971

TOTAL REVENUE $433,089,973

Expense Breakdown

Grants Paid $33,887

Salaries & Benefits $185,856,628

Fundraising Expenses $0

Program Expenses $431,366,587

Other Expenses $281,352,399

TOTAL EXPENSES $467,242,914

Year-over-Year Comparison

	2023	2022	Change
Revenue	$433,089,973	$418,962,236	+0.0%
Expenses	$467,242,914	$443,344,321	+0.1%
Net Income	$-34,152,941	$-24,382,085	+0.4%

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

1876

Volunteers

105

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

$3,247,326

Total Directors

$1,447,514

Key Employees

$4,002,464

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PABLO COLON	VICE CHAIR (TO 12/31); CHAIR (FROM 01/01)	3.0	Officer Director	$0	$0	$0
PETER CORDEAU	PRESIDENT NORWALK HOSPITAL	46.0	Officer Director	$775,400	$63,284	$838,684
SUSAN BEYMAN	DIRECTOR; VICE CHAIR (FROM 01/01)	3.0	Officer Director	$0	$0	$0
THOMAS DUBIN	CHAIR (TO 12/31/23); DIRECTOR	3.0	Officer Director	$0	$0	$0
AMY AHASIC MD	DIRECTOR	2.0	Director	$0	$68,476	$556,404
CURTIS STEWART	DIRECTOR (FROM 1/1)	42.0	Director	$52,253	$173	$52,426
DANIELLE ROBINSON PHD	DIRECTOR	2.0	Director	$0	$0	$0
JAMES DIMONEKAS	DIRECTOR	2.0	Director	$0	$0	$0
KAREN GOTTLIEB	DIRECTOR	2.0	Director	$0	$0	$0
LEONARD DINARDO	DIRECTOR	2.0	Director	$0	$0	$0
MARY GRACE GUDIS	DIRECTOR	2.0	Director	$0	$0	$0
MICHAEL L WITHERSPOON JD	DIRECTOR	2.0	Director	$0	$0	$0
PATRICIA S BAM	DIRECTOR	2.0	Director	$0	$0	$0
PETER CAMPBELL	DIRECTOR	2.0	Director	$0	$0	$0
PETER HERBERT	DIRECTOR	2.0	Director	$0	$0	$0
SEAN ARMSTRONG	DIRECTOR (FROM 1/1)	2.0	Director	$0	$0	$0
SUSAN WEINBERGER	DIRECTOR	2.0	Director	$0	$0	$0
THOMAS AYOUB	Director (To 12/31/23)	2.0	Director	$0	$0	$0
BRIAN WYATT	SECRETARY & CHIEF LEGAL OFFICER	2.0	Officer	$0	$124,638	$758,850
DANIEL DEBARBA	CHIEF FINANCIAL OFFICER; TREASURER	2.0	Officer	$0	$175,627	$1,649,792
JEAN AHN	CHIEF STRATEGY OFFICER	5.0	Key Emp	$0	$98,768	$1,079,899
KATHRYN D CULLINAN	CHIEF HUMAN RESOURCES OFFICER	5.0	Key Emp	$0	$111,060	$827,453
MICHELLE ROBERTSON	CHIEF OPERATING OFFICER	5.0	Key Emp	$0	$187,713	$1,525,961
WAYNE MCNULTY	CHIEF COMPLIANCE OFFICER	5.0	Key Emp	$0	$33,749	$569,151
ELIZABETH BRICE RN	NURSE	40.0	Highest	$296,258	$33,818	$330,076
LESLIE LINCOLN RN	CHIEF NURSING OFFICER	40.0	Highest	$325,634	$47,864	$373,498
NINA KALACH	PHYSICIST	40.0	Highest	$251,914	$43,314	$295,228
SANGEETHA CHACKO	NURSE	40.0	Highest	$243,179	$32,912	$276,091
STEPHEN M PAPP	VP OPERATIONS	38.0	Highest	$339,288	$32,426	$392,109
SHARON ADAMS	FORMER COO/CNO; PRESIDENT DH	0.0		$0	$22,810	$1,083,590

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	$433,089,973	$467,242,914	$693,807,819	$-34,152,941
2023	$418,962,236	$443,344,321	$720,288,595	$-24,382,085
2022	$404,720,317	$421,736,967	$794,136,829	$-17,016,650
2021	$402,634,806	$400,928,677	$792,848,163	$1,706,129
2020	$425,486,882	$408,192,474	$694,830,905	$17,294,408
2019	$409,990,308	$408,589,360	$664,303,538	$1,400,948
2018	$413,973,859	$390,707,436	$653,817,365	$23,266,423

The Norwalk Hospital Association