SETON HEALTH SYSTEM INC (EIN 141776186) - Form 990 Financial Analysis & Trantor Score

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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

1995

Legal Domicile

Principal Officer

MICHAEL FINEGAN

Phone

5182685520

Tax Period

2018-07-01 to 2018-12-31

SETON HEALTH SYSTEM INC, founded in 1995, is a mid-sized nonprofit that reported $42.5M in total revenue in fiscal year 2018. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $47.5M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROVIDE HEALTH CARE AND HOSPITAL SERVICES

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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 (2018)

Revenue Breakdown

Contributions & Grants $820,413

Program Service Revenue $40,813,045

Investment Income $941,107

Other Revenue $-112,519

TOTAL REVENUE $42,462,046

Expense Breakdown

Grants Paid $0

Salaries & Benefits $23,027,009

Fundraising Expenses $0

Program Expenses $45,596,855

Other Expenses $24,451,249

TOTAL EXPENSES $47,478,258

Year-over-Year Comparison

	2018	2017	Change
Revenue	$42,462,046	$85,267,906	-0.5%
Expenses	$47,478,258	$94,240,100	-0.5%
Net Income	$-5,016,212	$-8,972,194	-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

788

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

$3,305,037

Total Directors

$3,916,609

Key Employees

$682,864

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES REED MD	DIRECTOR; PRESIDENT & CEO	1.00	Officer Director	$0	$87,506	$1,161,138
GARY DAKE	DIRECTOR; CHAIR	1.00	Officer Director	$0	$0	$0
BEVERLY KARPIAK	DIRECTOR; VICE CHAIR	1.00	Officer Director	$0	$0	$0
RONALD GUZIOR	DIRECTOR; TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT BYLANCIK	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA COTTRELL	DIRECTOR	1.00	Director	$0	$0	$0
ANN DISARRO	DIRECTOR	1.00	Director	$0	$0	$0
JOHN FILIPPONE MD	DIRECTOR; PHYSICIAN	1.00	Director	$0	$40,887	$687,664
HAROLD GORDON ESQ	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE HEARST III	DIRECTOR	1.00	Director	$0	$0	$0
PHYLLIS HERBERT RSM	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT JOHNSON III ESQ	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL KEEGAN	DIRECTOR	1.00	Director	$0	$0	$0
MARY ANN LOGIUDICE RSM	DIRECTOR	1.00	Director	$0	$0	$0
NORMAN MASSRY	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT MCCORMICK	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN NATWIN DC	DIRECTOR	1.00	Director	$0	$0	$0
CURTIS POWELL	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL ROTH MD	DIRECTOR; TRINITY EVP CHIEF CLIN OFF	1.00	Director	$0	$249,271	$1,748,458
ALAN SANDERS MD	DIRECTOR THRU 9/18; CMO AS OF 9/18	1.00	Director	$0	$17,375	$266,784
JAMES SLAVIN MD	DIRECTOR THROUGH 12/18	1.00	Director	$0	$0	$0
LISA THORN MD	DIRECTOR THROUGH 12/18	1.00	Director	$0	$0	$52,565
ROBERT SWIDLER ESQ	SECRETARY; VP LEGAL SERVICES	1.00	Officer	$0	$28,412	$383,076
THOMAS ROBERT	SPHP VP, CFO & TREASURER	1.00	Officer	$0	$119,309	$634,507
MICHAEL FINEGAN	PRESIDENT, ACUTE CARE	10.00	Officer	$0	$44,224	$707,288
LORI SANTOS	VICE PRESIDENT, ACUTE CARE FINANCE	10.00	Officer	$0	$26,918	$419,028
DANIEL SILVERMAN MD	VP & CMO TROY THROUGH 7/18	25.00	Key Emp	$0	$247,314	$682,864
STEVEN BALSAMO DO	PHYSICIAN	50.00	Highest	$558,546	$44,488	$603,034
DINA GOTTESMAN MD	PHYSICIAN	50.00	Highest	$503,945	$37,260	$541,205
ARTHUR SUNKIN MD	PHYSICIAN	50.00	Highest	$502,953	$29,874	$532,827
SIKANDER MANZOOR MD	PHYSICIAN	50.00	Highest	$499,660	$38,073	$537,733
MATTHEW CUNNINGHAM MD	PHYSICIAN	50.00	Highest	$455,888	$18,600	$474,488
CAROL CRUCETTI	FORMER KEY EMPLOYEE; VP & CNO TROY	25.00		$214,133	$27,515	$241,648
DANIEL KOCHIE	FORMER OFFICER; REG DIRECTOR PFS	25.00		$0	$22,625	$283,285
NORMAN DASCHER JR	FORMER OFF; VP & CEO TROY THRU 10/18	25.00		$0	$372,657	$923,721

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
2018	$85,267,906	$94,240,100	$83,544,219	$-8,972,194
2018	$42,462,046	$47,478,258	No data	$-5,016,212

SETON HEALTH SYSTEM INC