GLEN COVE HOSPITAL C/O NORTHWELL H… - 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

1956

Legal Domicile

Principal Officer

MICHAEL J DOWLING

Phone

5163216058

Tax Period

2023-01-01 to 2023-12-31

GLEN COVE HOSPITAL C/O NORTHWELL HEALTH INC, founded in 1956, is a major nonprofit in the Health Care sector that reported $239.8M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

GLEN COVE HOSPITAL IS PART OF NORTHWELL HEALTH, INC. ("NORTHWELL"), WHICH STRIVES TO IMPROVE THE HEALTH OF THE COMMUNITIES IT SERVES AND IS COMMITTED TO PROVIDING THE HIGHEST QUALITY GERIATRIC CARE; EDUCATING THE CURRENT AND FUTURE GENERATIONS OF HEALTHCARE PROFESSIONALS; AND CARING FOR THE ENTIRE COMMUNITY REGARDLESS OF THE ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $176,910,710 Revenue: $192,471,232

Glen Cove Hospital (GCH) is home to the renowned Inpatient Rehabilitation Center which includes a state of the art brain injury unit. GCH is a NYS DOH - designated Stroke Center. In 2023, the...

Glen Cove Hospital (GCH) is home to the renowned Inpatient Rehabilitation Center which includes a state of the art brain injury unit. GCH is a NYS DOH - designated Stroke Center. In 2023, the hospital had 6,102 inpatient discharges, provided 20,198 emergency department visits and performed 4,951 ambulatory surgeries, including endoscopies.

Program 2

Expenses: $41,712,774 Revenue: $30,120,063

Glen Cove Faculty Practice is an affiliated member of Northwell Health ("Northwell") and part of Northwell's medical group and ambulatory lines of service. It strives to make a measurable difference in the health status of the communities it serves by providing comprehensive health care regardless of ability to pay.

Program 3

Expenses: $6,218,927 Revenue: $6,739,747

North Shore-LIJ Imaging at Glen Cove provides a full range of diagnostic radiology services. Extensive imaging capabilities support multiple diagnostic goals, including primary diagnosis, the...

North Shore-LIJ Imaging at Glen Cove provides a full range of diagnostic radiology services. Extensive imaging capabilities support multiple diagnostic goals, including primary diagnosis, the tracking of treatment process, pre-surgical testing and post-operative analysis. Exams are performed by certified technologist that use state of the art equipment coupled with the very latest advances in imaging techniques to ensure consistent high quality images, expert analysis and uncompromised quality.

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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 $2,607,235

Program Service Revenue $230,844,873

Investment Income $2,032,487

Other Revenue $4,284,398

TOTAL REVENUE $239,768,993

Expense Breakdown

Grants Paid $0

Salaries & Benefits $165,669,013

Fundraising Expenses $150,005

Program Expenses $225,947,494

Other Expenses $80,250,759

TOTAL EXPENSES $245,919,772

Year-over-Year Comparison

	2023	2022	Change
Revenue	$239,768,993	$219,690,441	+0.1%
Expenses	$245,919,772	$219,190,554	+0.1%
Net Income	$-6,150,779	$499,887	-13.3%

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

1699

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

$28,923,285

Total Directors

$10,403,676

Key Employees

$818,771

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DOWLING	President & CEO	0.0	Officer Director	$0	$70,612	$9,042,544
MARK SOLAZZO	Pres, Strategic Initiatives &	0.0	Officer	$0	$63,855	$3,710,066
DAVID BATTINELLI	EVP & Physician in Chief	0.0	Officer	$0	$78,569	$1,814,841
MICHELE CUSACK	EVP & CFO	0.0	Officer	$0	$78,507	$1,696,458
JOSEPH MOSCOLA	EVP, Enterprise Services	0.0	Officer	$0	$50,769	$1,651,192
JEFFREY KRAUT	EVP Strategy	0.0	Officer	$0	$64,879	$1,534,296
EUGENE TANGNEY	SVP & Chf Bus Continuity & Cri	0.0	Officer	$0	$78,507	$1,451,043
RICHARD MILLER	EVP & Chf Business Strategy Of	0.0	Officer	$0	$63,119	$1,401,009
LAURENCE KRAEMER	EVP, Gen Coun, CLO & Asst Sec	0.0	Officer	$0	$69,888	$1,372,753
DONNA DRUMMOND	SVP & Chf Expense Officer	0.0	Officer	$0	$63,119	$1,217,650
KONSTANTINE COSTALAS	SVP, Managed Care	0.0	Officer	$0	$78,507	$1,177,868
RALPH NAPPI	EVC	0.0	Officer Director	$0	$64,637	$1,036,826
MARK GLOADE	SVP, Dep Gen Coun, Dep CLO & A	0.0	Officer	$0	$78,507	$1,022,226
KERRI SCANLON	Executive Director	50.0	Key Emp	$740,202	$78,569	$818,771
JOHN REYES	Assoc Medical Director	50.0	Highest	$620,778	$78,507	$699,285
SUSAN PALLESCHI	Physician	50.0	Highest	$589,461	$76,228	$665,689
BRADLEY SHERMAN	Medical Director (Site)	50.0	Highest	$593,426	$50,769	$644,195
SAMER SBAYI	Associate Chair, Surgery	50.0	Highest	$542,454	$76,773	$619,227
JOHANNA FIGUEROA	Chief, Pelvic Medicine	50.0	Highest	$512,768	$49,035	$561,803
HARRY GINDI	Assistant Secretary	0.0	Officer	$0	$64,637	$470,207
MARK CLASTER	Vice Chairman	0.0	Officer Director	$0	$0	$324,306
MARGARET CROTTY	Chairman	0.0	Officer Director	$0	$0	$0
MICHAEL EPSTEIN	Immediate Past Chairman	0.0	Officer Director	$0	$0	$0
RICHARD GOLDSTEIN	Vice Chairman	0.0	Officer Director	$0	$0	$0
WILLIAM MACK	Vice Chairman	0.0	Officer Director	$0	$0	$0
BARRY RUBENSTEIN	Vice Chairman	0.0	Officer Director	$0	$0	$0
ROBERT ROSENTHAL	Treasurer	0.0	Officer Director	$0	$0	$0
DONALD ZUCKER	Secretary	0.0	Officer Director	$0	$0	$0
NON COMPENSATED TRUSTEES	SEE SCHEDULE O	0.0	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
2024	No data	No data	No data	No data
2023	$239,768,993	$245,919,772	$163,529,627	$-6,150,779
2022	$219,690,441	$219,190,554	$162,041,474	$499,887
2021	$195,211,867	$194,499,522	$156,522,519	$712,345
2020	$171,436,068	$184,382,645	$158,034,452	$-12,946,577
2019	$143,332,356	$153,467,208	$129,256,435	$-10,134,852
2018	$146,534,058	$152,532,285	$134,546,000	$-5,998,227

GLEN COVE HOSPITAL C/O NORTHWELL HEALTH INC