SETON HEALTH SYSTEM INC

EIN: 141776186 501(c)(3)

TROY, NY

Total Revenue
$85,267,906
Total Expenses
$94,240,100
Total Assets
$83,544,219
Net Assets
$4,911,134
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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
NY
Principal Officer
MICHAEL FINEGAN
Phone
5182685520
Tax Period
2017-07-01 to 2018-06-30

SETON HEALTH SYSTEM INC, founded in 1995, is a mid-sized nonprofit that reported $85.3M in total revenue in fiscal year 2017. Revenue decreased 15% compared to the prior year. Expenses of $94.2M exceeded revenue, resulting in a 11% operating deficit.

Mission

WE, ST. PETER'S HEALTH PARTNERS AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES. FOUNDED IN COMMUNITY-BASED LEGACIES OF COMPASSIONATE HEALING, WE PROVIDE THE HIGHEST QUALITY COMPREHENSIVE CONTINUUM OF INTEGRATED HEALTH CARE, SUPPORTIVE HOUSING AND COMMUNITY SERVICES, ESPECIALLY FOR THE NEEDY AND VULNERABLE. SETON HEALTH SYSTEM (ST. MARY'S HOSPITAL) IS A MEMBER OF ST. PETER'S HEALTH PARTNERS AND TRINITY HEALTH.

Program Service Accomplishments

Program 1
Expenses: $89,837,706 Revenue: $82,817,345

SETON HEALTH SYSTEM HAS BEEN ANCHORED BY ST. MARY'S HOSPITAL IN TROY, NEW YORK, FOR MORE THAN 155 YEARS, AND PROVIDES REGIONALLY BASED SERVICES TO RESIDENTS OF RENSSELAER, SARATOGA AND ALBANY...

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SETON HEALTH SYSTEM HAS BEEN ANCHORED BY ST. MARY'S HOSPITAL IN TROY, NEW YORK, FOR MORE THAN 155 YEARS, AND PROVIDES REGIONALLY BASED SERVICES TO RESIDENTS OF RENSSELAER, SARATOGA AND ALBANY COUNTIES. ST. MARY'S HOSPITAL IS AMONG THE REGION'S LEADING PRIMARY CARE PROVIDERS, OFFERING FAMILY PRACTICE AND INTERNAL MEDICINE, URGENT CARE, OB/GYN AND PEDIATRICS. ST. MARY'S HOSPITAL'S OUTPATIENT SERVICES INCLUDE PHYSICAL REHABILITATION, MEDICAL IMAGING, INCONTINENCE AND WOUND TREATMENT, SURGICAL SERVICES, CARDIAC REHABILITATION, AND MUCH MORE. IN FY18, THE HOSPITAL PROVIDED 6,242 PATIENT DAYS OF HEALTH CARE SERVICES TO THE COMMUNITY. PLEASE VISIT SCHEDULE H AND OUR WEBSITE FOR ADDITIONAL INFORMATION ABOUT OUR SERVICES, RECOGNITIONS AND AWARDS: WWW.SPHP.COM/SAM

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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 (2017)

Revenue Breakdown

Contributions & Grants $1,468,628
Program Service Revenue $82,725,913
Investment Income $1,474,277
Other Revenue $-400,912
TOTAL REVENUE $85,267,906

Expense Breakdown

Grants Paid $0
Salaries & Benefits $48,815,562
Fundraising Expenses $0
Program Expenses $89,837,706
Other Expenses $45,424,538
TOTAL EXPENSES $94,240,100

Year-over-Year Comparison

2017 2016 Change
Revenue $85,267,906 $100,432,146 -0.2%
Expenses $94,240,100 $111,279,056 -0.2%
Net Income $-8,972,194 $-10,846,910 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
22
Independent Members
15
Employees
901
Volunteers
147

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
11
$2,992,455
Total Directors
23
$2,911,423
Key Employees
1
$432,235
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES REED MD DIRECTOR; PRESIDENT & CEO 1.00
Officer Director
$0 $59,604 $1,128,425
GARY DAKE DIRECTOR; CHAIR AS OF 1/18 1.00
Officer Director
$0 $0 $0
HAROLD GORDON ESQ DIRECTOR; CHAIR THROUGH 12/17 1.00
Officer Director
$0 $0 $0
BEVERLY KARPIAK DIRECTOR; VICE CHAIR AS OF 1/18 1.00
Officer Director
$0 $0 $0
ANN DISARRO DIRECTOR; VICE CHAIR THROUGH 12/17 1.00
Officer Director
$0 $0 $0
RONALD GUZIOR DIRECTOR; TREASURER AS OF 1/18 1.00
Officer Director
$0 $0 $0
MICHAEL KEEGAN DIRECTOR; TREASURER THROUGH 12/17 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
CATHERINE DECLERCQ OP SCH O DIRECTOR THROUGH 12/17 1.00
Director
$0 $7,036 $7,036
JOHN FILIPPONE MD DIRECTOR; PHYSICIAN 1.00
Director
$0 $35,697 $614,271
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
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 DIR AT 1/18; TRIN EVP CHF CLIN OFF 1.00
Director
$0 $38,580 $907,616
ALAN SANDERS MD DIRECTOR; SPH CHIEF DEPT OF MEDICINE 1.00
Director
$0 $9,251 $204,247
JAMES SLAVIN MD DIRECTOR 1.00
Director
$0 $0 $0
LISA THORN MD DIRECTOR 1.00
Director
$0 $0 $49,828
THOMAS ROBERT SPHP VP, CFO & TREASURER 1.00
Officer
$0 $47,445 $564,773
ROBERT SWIDLER ESQ SECRETARY; VP LEGAL SERVICES 1.00
Officer
$0 $17,206 $341,084
NORMAN DASCHER JR VP & CEO, ACUTE CARE TROY 26.00
Officer
$0 $28,922 $537,992
LORI SANTOS VICE PRESIDENT, ACUTE CARE FINANCE 10.00
Officer
$0 $19,251 $420,181
DANIEL SILVERMAN MD VP & CMO TROY 25.00
Key Emp
$0 $28,828 $432,235
STEVEN BALSAMO DO PHYSICIAN 50.00
Highest
$1,040,088 $42,688 $1,082,776
JAMES CRAIG MD PHYSICIAN 50.00
Highest
$759,477 $41,593 $801,070
ARTHUR SUNKIN MD PHYSICIAN 50.00
Highest
$500,493 $28,686 $529,179
PATRICIA JOLIE MD PHYSICIAN 50.00
Highest
$458,395 $39,109 $497,504
SIKANDER MANZOOR MD PHYSICIAN 50.00
Highest
$456,858 $32,706 $489,564
CAROL CRUCETTI FORMER KEY EMPLOYEE; VP & CNO TROY 25.00
$212,590 $24,112 $236,702
THOMAS SCHUHLE FORMER OFFICER 0.00
$0 $21,259 $281,828
DANIEL KOCHIE FORMER OFFICER; REG DIRECTOR PFS 25.00
$51,087 $21,143 $331,559
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
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