THE BROOKLYN HOSPITAL FOUNDATION I… - 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

1987

Legal Domicile

Principal Officer

GARY TERRINONI

Phone

7182506755

Tax Period

2023-01-01 to 2023-12-31

THE BROOKLYN HOSPITAL FOUNDATION INC, founded in 1987, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023. Expenses of $2.6M exceeded revenue, resulting in a 32% operating deficit.

Mission

THE FOUNDATION EXISTS TO SUPPORT THE VISION AND MISSION OF THE BROOKLYN HOSPITAL CENTER (TBHC) THROUGH A CHARITABLE ORGANIZATION COMMITTED TO THE BROOKLYN COMMUNITY. THE PRIMARY PURPOSE AND SCOPE OF THE FOUNDATION IS TO SUPPORT A BROAD RANGE OF EDUCATIONAL AND CLINICAL PROGRAMS AND SERVICES WHICH STRIVE TO IMPROVE THE HEALTHCARE DELIVERY SYSTEM IN BROOKLYN. THE VISION OF THE FOUNDATION SUPPORTS AND COMPLEMENTS THE VISION OF TBHC AND ITS PARTNERS, WITH A FIRM COMMITMENT TO A CONTINUED PRESENCE AND SERVICE TO RESIDENTS, PROVIDERS, EMPLOYERS, ORGANIZATIONS AND HEALTHCARE PROVIDERS. THE FOUNDATION IS SPECIFICALLY COMMITTED TO PURSUING CLINICAL EXCELLENCE THROUGH RESEARCH AND EDUCATION; TO IMPROVING ACCESS TO HEALTHCARE THROUGH COMMUNITY SERVICE AND OUTREACH PROGRAMS; AND TO SUPPORT ECONOMIC DEVELOPMENT THROUGH PHILANTHROPIC GIFTS AND GRANTS. THE FOUNDATION IS ROOTED DEEPLY IN BROOKLYN, TO SERVE ITS RESIDENTS, TO STRENGTHEN ITS RESOURCES AND TO PROVIDE THE MEANS FOR A HEALTHIER BROOKLYN.

Program Service Accomplishments

Program 1

Expenses: $1,844,528 Revenue: $0

PROVIDE FUNDS FOR THE BROOKLYN HOSPITAL DEVELOPMENT PROGRAM AND HELP PAY FOR HEALTH AND EDUCATIONAL PROGRAMS.

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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 $2,034,751

Program Service Revenue $0

Investment Income $72,112

Other Revenue $-176,248

TOTAL REVENUE $1,930,615

Expense Breakdown

Grants Paid $1,359,894

Salaries & Benefits $512,599

Fundraising Expenses $123,422

Program Expenses $1,844,528

Other Expenses $637,788

TOTAL EXPENSES $2,556,813

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,930,615	$1,833,849	+0.1%
Expenses	$2,556,813	$2,374,570	+0.1%
Net Income	$-626,198	$-540,721	+0.2%

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

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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

N/A

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

$3,067,681

Total Directors

$5,970,484

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DINO VERONESE	CO-CHAIR	1.00	Officer Director	$0	$0	$0
HARRY DYM	CO-CHAIR	1.00	Officer Director	$0	$12,234	$475,935
ARMAND P ASARIAN MD	VICE CHAIR	1.00	Officer Director	$0	$12,234	$462,213
GARY TERRINONI	PRESIDENT & CEO	1.00	Officer Director	$0	$12,234	$1,818,388
DEBBIE NIEDERHOFFER	VICE PRESIDENT	60.00	Officer Director	$0	$11,145	$311,145
ADRINA BANKS-MARTIN	TREASURER	1.00	Officer Director	$0	$0	$0
BERNARD DRAYTON	SECRETARY	1.00	Officer Director	$0	$0	$0
J ANDERS COHEN MD	TRUSTEE	1.00	Director	$0	$12,234	$880,571
MARTHA BAKOS DIETZ	TRUSTEE	1.00	Director	$0	$0	$0
ANNE ELIZABETH FONTAINE	TRUSTEE	1.00	Director	$0	$0	$0
JAMES GASPERINO MD	TRUSTEE	1.00	Director	$0	$3,830	$688,830
ANDREW L HAMM	TRUSTEE	1.00	Director	$0	$0	$0
NOAH KONDAMUDI MD	TRUSTEE	1.00	Director	$0	$12,234	$462,234
LESIA BATES MOSS	TRUSTEE	1.00	Director	$0	$0	$0
MADHAVI REDDY MD	TRUSTEE	1.00	Director	$0	$12,234	$537,234
DANIEL RICCIARDI MD	TRUSTEE	1.00	Director	$0	$0	$0
JOSHUA ROSENBERG MD	TRUSTEE	1.00	Director	$0	$8,934	$333,934
CARLOS P NAUDON	TRUSTEE (UNTIL APRIL 2023)	1.00	Director	$0	$0	$0
DAVID SCHWARTZ	TRUSTEE (UNTIL APRIL 2023)	1.00	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	$1,930,615	$2,556,813	$6,343,880	$-626,198
2022	$1,833,849	$2,374,570	$6,463,743	$-540,721
2021	$2,100,243	$2,409,298	$7,793,909	$-309,055
2020	$3,936,281	$1,826,736	$7,825,357	$2,109,545
2019	$2,782,759	$1,440,002	$5,469,673	$1,342,757
2018	$1,329,705	$1,271,567	$3,520,558	$58,138

THE BROOKLYN HOSPITAL FOUNDATION INC