Vassar Brothers Hospital 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

1990

Legal Domicile

Phone

8454759500

Tax Period

2023-10-01 to 2024-09-30

Vassar Brothers Hospital Foundation, founded in 1990, is a community nonprofit in the Health Care sector that reported $4.2M in total revenue in fiscal year 2023. Revenue surged 130% from the prior year, signaling strong growth momentum. Expenses of $4.9M exceeded revenue, resulting in a 16% operating deficit.

Mission

THE MISSION OF VASSAR BROTHERS HOSPITAL FOUNDATION IS TO RAISE FUNDS, REINVEST AND ADMINISTER THESE FUNDS AND MAKE DISTRIUBTIONS TO VASSAR BROTHERS MEDICAL CENTER AND OTHER NOT-FOR-PROFIT VASSAR BROTHERS MEDICAL CENTER AFFILIATES.

Program Service Accomplishments

Program 1

Expenses: $3,871,684 Revenue: $0

THE VASSAR BROTHERS FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION LOCATED IN POUGHKEEPSIE, NY. THE FOUNDATION WAS ORGANIZED FOR THE PURPOSE OF SOLICITING, RECEIVING, HOLDING, INVESTING AND...

THE VASSAR BROTHERS FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION LOCATED IN POUGHKEEPSIE, NY. THE FOUNDATION WAS ORGANIZED FOR THE PURPOSE OF SOLICITING, RECEIVING, HOLDING, INVESTING AND ADMINISTERING CONTRIBUTIONS ON BEHALF OF VASSAR BROTHERS MEDICAL CENTER AND OTHER NOT-FOR-PROFIT HEALTHCARE AFFILIATES.

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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 $3,717,588

Program Service Revenue $0

Investment Income $511,532

Other Revenue $12,650

TOTAL REVENUE $4,241,770

Expense Breakdown

Grants Paid $3,871,684

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,871,684

Other Expenses $1,028,173

TOTAL EXPENSES $4,899,857

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,241,770	$1,843,420	+1.3%
Expenses	$4,899,857	$7,552,172	-0.4%
Net Income	$-658,087	$-5,708,752	-0.9%

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

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

$3,101,078

Total Directors

$3,060,763

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG IRWIN	VICE CHAIR (TO 12/31); CHAIR (FROM 01/01)	1.0	Officer Director	$0	$0	$0
GEETA GORWARA	DIRECTOR; VICE CHAIR (FROM 01/01)	1.0	Officer Director	$0	$0	$0
SARAH LEVINE	CHAIR (TO 12/31)	1.0	Officer Director	$0	$0	$0
ANN ST GERMAIN	DIRECTOR (FROM 01/01)	0.5	Director	$0	$0	$0
CAROLYNN FRANKEL	DIRECTOR (FROM 01/01)	0.5	Director	$0	$0	$0
DARRELYN BRENNAN	DIRECTOR	0.5	Director	$0	$0	$0
DR JOHN CHOI	DIRECTOR (FROM 01/01)	0.5	Director	$0	$63,640	$795,011
DR SUNNY INTWALA	DIRECTOR (FROM 01/01)	0.5	Director	$0	$21,708	$1,098,824
JANELLE ANNE STYLES	DIRECTOR (TO 12/31)	0.5	Director	$0	$0	$0
JOHN VENTOSA	DIRECTOR (FROM 01/01)	0.5	Director	$0	$0	$0
KIMBERLY HUNT LEE	DIRECTOR (TO 12/31)	0.5	Director	$0	$0	$0
KRISTI BRIEN	DIRECTOR	0.5	Director	$0	$0	$0
MARK HARRISON MD	DIRECTOR/HV CARDIO PHYS. (TO 12/31)	0.5	Director	$0	$59,592	$1,166,928
MICHAEL MAZZUCA JR	DIRECTOR (TO 12/31)	0.5	Director	$0	$0	$0
NILOUFER RODRIGUES MD	DIRECTOR	0.5	Director	$0	$0	$0
RANDI PETROVITS	DIRECTOR	0.5	Director	$0	$0	$0
REBECCA SEAMAN	DIRECTOR (TO 12/31)	0.5	Director	$0	$0	$0
SHARON FAULKNER	DIRECTOR	0.5	Director	$0	$0	$0
BRIAN WYATT	SECRETARY & CHIEF LEGAL OFFICER	0.5	Officer	$0	$124,638	$758,850
DANIEL DEBARBA	CHIEF FINANCIAL OFFICER; TREASURER	0.5	Officer	$0	$175,627	$1,649,792
GRACE LINHARD	CHIEF DEVELOPMENT OFFICER	8.5	Officer	$0	$76,482	$692,436

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	$4,241,770	$4,899,857	$52,685,172	$-658,087
2023	$1,843,420	$7,552,172	$47,641,794	$-5,708,752
2022	$3,570,639	$4,712,402	$49,829,838	$-1,141,763
2021	$4,051,790	$8,640,364	$58,560,925	$-4,588,574
2020	$17,847,063	$2,233,819	$64,309,875	$15,613,244
2018	$8,794,879	$6,664,362	$42,637,649	$2,130,517