St Luke's Cornwall Hospital

EIN: 141340054 501(c)(3) Health Care

NEWBURGH, NY

Total Revenue
$268,202,117
Total Expenses
$264,121,853
Total Assets
$195,286,803
Net Assets
$95,724,593
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
NY
Phone
8455682881
Tax Period
2023-01-01 to 2023-12-31

St Luke's Cornwall Hospital, founded in 2002, is a major nonprofit in the Health Care sector that reported $268.2M in total revenue in fiscal year 2023.

Mission

MONTEFIORE ST. LUKE'S CORNWALL HOSPITAL, A MEMBER OF THE MONTEFIORE HEALTH SYSTEM, IS DEDICATED TO PROVIDE HIGH QUALITY, SAFE, EQUITABLE AND EXTRAORDINARY HEALTHCARE THAT: PATIENTS RECOMMEND, PHYSICIANS PREFER, EMPLOYEES ARE PROUD OF, AND THE HUDSON VALLEY TRUSTS. OUR VISION IS TO BE THE LEADER OF EXCEPTIONAL, EQUITABLE, AND ACCESSABLE CARE THAT ADVANCES THE HEALTH AND WELL-BEING OF OUR COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $228,634,335 Revenue: $251,469,114

Montefiore St. Luke's Cornwall (MSLC) is a two-Campus 242-bed acute care hospital located in Newburgh, NY, with a robust Ambulatory Center in Cornwall, NY, and satellite locations in Newburgh, New...

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Montefiore St. Luke's Cornwall (MSLC) is a two-Campus 242-bed acute care hospital located in Newburgh, NY, with a robust Ambulatory Center in Cornwall, NY, and satellite locations in Newburgh, New Windsor, and Fishkill, NY. For nearly 150 years, MSLC has been a cornerstone of high-quality healthcare, fostering a healing environment through community collaboration, dedicated staff, and a rich history. The Newburgh campus is inclusive of an Emergency Department, Level III Trauma Center, Intensive Care Unit, Birthing Center, Neonatal Intensive Care Unit and much more. In 2023, MSLC expanded its Cardiovascular Services with the newly transformed Kaplan Family Center for Cardiovascular Medicine and Interventional Radiology, which includes three state of the art Cardiac Catheterization Rooms. In addition, MSLC has vastly expanded its surgical services with the addition of Metabolic and Bariatric Surgery, Robotic Surgery, Thoracic Surgery, and advanced surgical technologies used in the treatment of urologic disorders. The Cornwall Campus has transformed into a robust outpatient center including a comprehensive Imaging Center, the Medical Group at MSLC which includes Primary and Specialty care, outpatient laboratory services, rehabilitative medicine, vascular services, dialysis, pain management, and wound care. The campus also includes the Littman Cancer Center, which offers the latest technology in radiation therapy with its newly installed Radixact system, which precisely treats cancer. This new equipment not only provides cutting edge radiation therapy but also reduces the number of necessary radiation treatments for patients undergoing cancer care. Additionally, the Infusion suite on the Cornwall campus offers everything from antibiotic treatments to chemotherapy. MSLC is proud to include a Graduate Medical Education Program, through its Internal Medicine Residency program, which was originally established in that is helping to shape the future of medicine in the Hudson Valley, offering both inpatient experience and in the outpatient setting within MSLC's Medical Practice, through the Medical Group at Montefiore St. Luke's Cornwall. MSLC experienced a great deal of growth in 2023. * On the Cornwall campus, MSLC completed extensive renovations of the main lobby to create the Joan Cusack- McGuirk Welcome and Navigation Center, streamlining how patients access care. * Recognizing the growing demand of patients with Behavioral Health needs, MSLC established an in-house Behavioral Health program with Telepsychiatry. * In collaboration with its medical staff and community members, MSLC proudly established Patient Blood Management and Bloodless Medicine Program. The program formalizes our commitment to appropriate use of blood products and to developing a culturally competent workforce that respects patient choices. * MSLC's Internal Medicine Residency Program achieved ten-year accreditation, solidifying its commitment to graduate medical education. These enhancements complement MSLC's robust existing offerings with Centers of Excellence in Cancer Care, Cardiovascular Care, Angioplasty, Cardiac Rehabilitation, Orthopedics and Sports Medicine, and Metabolic and Bariatric Surgery. Providing exceptional care is at the core of what MSLC is privilege to offer the community. This commitment is recognized by many outside organization and includes: * Magnet Designation by the American Nursing Credentialing Center (ANCC), * Certification as a Level III Trauma Center by the American College of Surgeons Committee on Trauma * American Heart Association/American Stroke Association's Get With The Guidelines-Stroke Gold Plus Quality Achievement Award for the 15th consecutive year. * American Heart Association's Mission: Lifeline STEMI Receiving Center Silver recognition * 2023 CHIME Digital Health Most Wired recognition as a certified level 7. * MBSAQIP Montefiore St. Luke's Cornwall's Institute for Metabolic and Bariatric Surgery has been accredited as a Comprehensive Center under the Metabolic and Bariatric Surgery Accreditation and Quality Improvement Program (MBSAQIP), a joint program of the American College of Surgeons (ACS) and the American Society for Metabolic and Bariatric Surgery (ASMBS). MSLC's outreach efforts are based on a strong dedication to improve the overall health of the communities we serve. These efforts include annual prevention and screening events, educational presentations, which directly address the health disparities identified in MSLC's tri-annual Community Health Needs Assessment. Each year, MSLC aims to increase the number of screening and education offerings to residents of the Hudson Valley.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $12,498,039
Program Service Revenue $251,093,325
Investment Income $2,465,208
Other Revenue $2,145,545
TOTAL REVENUE $268,202,117

Expense Breakdown

Grants Paid $6,050,683
Salaries & Benefits $127,064,151
Fundraising Expenses $0
Program Expenses $228,634,335
Other Expenses $131,007,019
TOTAL EXPENSES $264,121,853

Year-over-Year Comparison

2023 2022 Change
Revenue $268,202,117 $250,752,402 +0.1%
Expenses $264,121,853 $249,904,760 +0.1%
Net Income $4,080,264 $847,642 +3.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
9
Employees
1577
Volunteers
35

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
6
$1,530,738
Total Directors
13
$5,229,222
Key Employees
3
$1,386,528
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A CHAIR 1.0
Officer Director
$0 $0 $0
N/A SECRETARY 1.0
Officer Director
$0 $0 $0
N/A TREASURER 1.0
Officer Director
$0 $0 $0
N/A VICE CHAIR 1.0
Officer Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $50,061 $1,027,995
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE (RESIGNED 11/1/2023) 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TURSTEE (APPOINTED 1/1/2023) 1.0
Director
$0 $0 $0
N/A TRUSTEE (RESIGNED 12/31/2023) 1.0
Director
$0 $49,826 $1,441,667
N/A TRUSTEE 1.0
Director
$0 $46,906 $2,759,560
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A PRESIDENT & CEO 50.0
Officer
$846,611 $15,735 $862,346
N/A SVP, CFO/TREASURER 50.0
Officer
$598,956 $69,436 $668,392
N/A CHIEF MEDICAL OFFICER 31.0
Key Emp
$641,830 $31,956 $673,786
N/A VP, OPERATIONS 55.0
Key Emp
$288,125 $7,662 $295,787
N/A VP, CHIEF NURSING OFFICER 55.0
Key Emp
$378,932 $38,023 $416,955
N/A PHARMACIST 54.0
Highest
$309,420 $14,041 $323,461
N/A VP, CHIEF INFORMATION OFFICER 55.0
Highest
$307,276 $13,609 $320,885
N/A VP, HUMAN RESOURCES 55.0
Highest
$314,919 $51,254 $366,173
N/A VP, NETWORK, STRATEGY & BUS 55.0
Highest
$334,034 $45,386 $379,420
N/A VP, QUALITY MANAGEMENT 55.0
Highest
$320,038 $33,818 $353,856
N/A FORMER OFFICER 1.0
$156,250 $0 $156,250
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 $268,202,117 $264,121,853 $195,286,803 $4,080,264
2022 $250,752,402 $249,904,760 $195,267,465 $847,642
2021 $262,716,527 $244,026,438 $225,516,003 $18,690,089
2020 $264,293,520 $234,143,795 $234,501,962 $30,149,725
2019 $246,519,863 $229,783,380 $168,517,480 $16,736,483
2018 $228,557,403 $217,702,327 $146,443,514 $10,855,076
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