PHELPS MEMORIAL HOSPITAL ASSOCIATI… - 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

1952

Legal Domicile

Principal Officer

MICHAEL DOWLING

Phone

5163216058

Tax Period

2023-01-01 to 2023-12-31

PHELPS MEMORIAL HOSPITAL ASSOCIATION C/O NORTHWELL HEALTH INC, founded in 1952, is a major nonprofit in the Health Care sector that reported $419.9M in total revenue in fiscal year 2023. Expenses of $377.3M left a modest 10% surplus.

Mission

PHELPS MEMORIAL HOSPITAL ASSOCIATION ("PMHA") 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 CLINICAL CARE; EDUCATING THE CURRENT AND FUTURE GENERATIONS OF HEALTHCARE PROFESSIONALS; SEARCHING FOR NEW ADVANCES IN MEDICINE THROUGH THE CONDUCT OF BIOMEDICAL RESEARCH; PROMOTING HEALTH EDUCATION; AND CARING FOR THE ENTIRE COMMUNITY REGARDLESS OF THE ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $139,224,327 Revenue: $130,743,431

PHELPS MEMORIAL HOSPITAL ASSOCIATON PROVIDES ACUTE AND REHABILITATION INPATIENT HEALTH CARE SERVICES TO MEMBERS OF THE COMMUNITY REGARDLESS OF ABILITY TO PAY. THE HOSPITAL HAD 5,578 ACUTE CARE...

PHELPS MEMORIAL HOSPITAL ASSOCIATON PROVIDES ACUTE AND REHABILITATION INPATIENT HEALTH CARE SERVICES TO MEMBERS OF THE COMMUNITY REGARDLESS OF ABILITY TO PAY. THE HOSPITAL HAD 5,578 ACUTE CARE ADMISSIONS AND 199 REHABILITATION ADMISSIONS.

Program 2

Expenses: $151,707,373 Revenue: $228,805,451

PHELPS MEMORIAL HOSPITAL ASSOCIATON PROVIDES OUTPATIENT HEALTH CARE SERVICES TO MEMBERS OF THE COMMUNITY REGARDLESS OF ABILITY TO PAY. PHELPS MEMORIAL HOSPITAL ASSOCIATON'S LARGER OUTPATIENT PROGRAMS INCLUDE THE FOLLOWING SERVICES: EMERGENCY SERVICES: 21,662 VISITS; RADIOLOGY SERVICES: 27,475 PROCEDURES; WOUND & DIABETIC CARE: 2,705 VISITS; PHYSICAL THERAPY, AQUATIC THERAPY AND OCCUPATIONAL THERAPY: 41,856 PROCEDURES; HYPERBARIC TREATMENTS: 2,369 PROCEDURES; CHEMO & RADIATION SERVICES 16,534 VISITS.

Program 3

Expenses: $35,776,609 Revenue: $16,749,316

PHELPS MEMORIAL HOSPITAL ASSOCIATION PROVIDES INPATIENT AND OUTPATIENT BEHAVIORAL HEALTH SERVICES TO MEMBERS OF THE COMMUNITY REGARDLESS OF ABILITY TO PAY. PHELPS MEMORIAL HOSPITAL ASSOCIATION HAD...

PHELPS MEMORIAL HOSPITAL ASSOCIATION PROVIDES INPATIENT AND OUTPATIENT BEHAVIORAL HEALTH SERVICES TO MEMBERS OF THE COMMUNITY REGARDLESS OF ABILITY TO PAY. PHELPS MEMORIAL HOSPITAL ASSOCIATION HAD 403 BEHAVIORAL HEALTH ADMISSIONS AND 22,343 OUTPATIENT BEHAVIORAL HEALTH VISITS.

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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 $9,598,185

Program Service Revenue $376,298,198

Investment Income $5,611,860

Other Revenue $28,403,211

TOTAL REVENUE $419,911,454

Expense Breakdown

Grants Paid $28,500

Salaries & Benefits $200,164,053

Fundraising Expenses $391,580

Program Expenses $326,708,309

Other Expenses $177,063,965

TOTAL EXPENSES $377,256,518

Year-over-Year Comparison

	2023	2022	Change
Revenue	$419,911,454	$402,953,212	+0.0%
Expenses	$377,256,518	$372,534,583	+0.0%
Net Income	$42,654,936	$30,418,629	+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

2253

Volunteers

180

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

$1,351,749

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
EILEEN EGAN	Executive Director	50.0	Key Emp	$676,914	$64,637	$741,551
GRAHAM SELLERS	Associate Chief, Colorectal Su	50.0	Highest	$572,327	$55,472	$627,799
BEATA MASTALERZ	Executive Director	50.0	Key Emp	$533,365	$76,833	$610,198
ROBERT RANIOLO	Dir, Surgery	50.0	Highest	$567,623	$36,900	$604,523
JAMES MCCULLAGH	Assoc Exec Dir Fin Multi Sites	50.0	Highest	$437,192	$78,507	$515,699
CRAIG ROGERS	Psychiatrist	50.0	Highest	$415,168	$64,637	$479,805
HARRY GINDI	Assistant Secretary	0.0	Officer	$0	$64,637	$470,207
HUGH WILSON	Assoc Dir HM	50.0	Highest	$408,105	$36,900	$445,005
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	$419,911,454	$377,256,518	$546,784,345	$42,654,936
2022	$402,953,212	$372,534,583	$478,938,696	$30,418,629
2021	$392,628,339	$357,417,972	$493,295,569	$35,210,367
2020	$330,336,314	$319,702,084	$469,744,028	$10,634,230
2019	$306,646,891	$288,064,769	$432,505,212	$18,582,122
2018	$294,263,630	$239,518,696	$369,337,695	$54,744,934

PHELPS MEMORIAL HOSPITAL ASSOCIATION C/O NORTHWELL HEALTH INC