NORTHWELL HEALTH FOUNDATION

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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

1988

Legal Domicile

Principal Officer

MICHAEL J DOWLING

Phone

5163216058

Tax Period

2023-01-01 to 2023-12-31

NORTHWELL HEALTH FOUNDATION, founded in 1988, is a major nonprofit in the Health Care sector that reported $155.8M in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $44.8M, a strong 29% operating margin.

Mission

NORTHWELL HEALTH FOUNDATION INC. IS DEDICATED TOWARD HELPING DONORS, PATIENTS, AND LEADERS LINK THEIR VISION AND PHILANTHROPIC SUPPORT TOWARD HELPING THE UNDERSERVED AND UNINSURED, ADVANCING THE LATEST FRONTIERS IN MEDICAL TECHNOLOGY AND RESEARCH, OR PROVIDING CRITICAL FINANCIAL SUPPORT FOR NEW FACILITIES AND PROGRAMS WITHIN NORTHWELL HEALTH.

Program Service Accomplishments

Program 1

Expenses: $84,429,231 Revenue: $151,438,518

The Foundation raises funds in support of Northwell Health, including gifts, for the expansion, modernization, and medical care for the affiliated health care organizations within Northwell Health...

The Foundation raises funds in support of Northwell Health, including gifts, for the expansion, modernization, and medical care for the affiliated health care organizations within Northwell Health. The Philanthropy enables Northwell to innovate in the advancement of health care standards.

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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 $151,438,518

Program Service Revenue $0

Investment Income $7,114,275

Other Revenue $-2,763,214

TOTAL REVENUE $155,789,579

Expense Breakdown

Grants Paid $84,429,231

Salaries & Benefits $20,895,316

Fundraising Expenses $22,583,161

Program Expenses $84,429,231

Other Expenses $5,714,974

TOTAL EXPENSES $111,039,521

Year-over-Year Comparison

	2023	2022	Change
Revenue	$155,789,579	$116,719,999	+0.3%
Expenses	$111,039,521	$87,263,071	+0.3%
Net Income	$44,750,058	$29,456,928	+0.5%

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

105

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

$29,996,154

Total Directors

$10,403,676

Key Employees

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
BRIAN LALLY	SVP, Chief Development Officer	50.0	Officer	$1,008,232	$64,637	$1,072,869
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
ANASTASIOS KOZAITIS	VP, Development	50.0	Highest	$547,260	$76,228	$623,488
ROBERT LANE	VP, Principal Gifts	50.0	Highest	$536,389	$50,790	$587,179
SOUZAN HANNA	VP, Foundation Ops	50.0	Highest	$432,600	$78,507	$511,107
ROBERT CASTANO	VP, Development	50.0	Highest	$396,063	$78,569	$474,632
HARRY GINDI	Assistant Secretary	0.0	Officer	$0	$64,637	$470,207
ROBIN ROSS	Senior Principal Gifts Officer	50.0	Highest	$409,888	$36,900	$446,788
MARK CLASTER	Vice Chairman	2.0	Officer Director	$0	$0	$324,306
MARGARET CROTTY	Chairman	3.0	Officer Director	$0	$0	$0
MICHAEL EPSTEIN	Immediate Past Chairman	2.0	Officer Director	$0	$0	$0
RICHARD GOLDSTEIN	Vice Chairman	2.0	Officer Director	$0	$0	$0
WILLIAM MACK	Vice Chairman	2.0	Officer Director	$0	$0	$0
BARRY RUBENSTEIN	Vice Chairman	2.0	Officer Director	$0	$0	$0
ROBERT ROSENTHAL	Treasurer	2.0	Officer Director	$0	$0	$0
DONALD ZUCKER	Secretary	2.0	Officer Director	$0	$0	$0
NON-COMPENSATED TRUSTEES	SEE SCHEDULE O	2.0	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	$155,789,579	$111,039,521	$539,501,981	$44,750,058
2022	$116,719,999	$87,263,071	$466,111,453	$29,456,928
2021	$139,689,097	$78,449,388	$461,901,470	$61,239,709
2020	$120,253,750	$85,628,241	$391,965,886	$34,625,509
2019	$97,593,785	$87,249,258	$343,577,244	$10,344,527
2018	$110,747,825	$82,594,063	$346,916,644	$28,153,762