Putnam Hospital Center

EIN: 146019179 501(c)(3) Health Care

CARMEL, NY

Total Revenue
$119,242,366
Total Expenses
$160,154,533
Total Assets
$166,491,419
Net Assets
$22,454,825
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1962
Legal Domicile
NY
Phone
8454759500
Tax Period
2023-10-01 to 2024-09-30

Putnam Hospital Center, founded in 1962, is a major nonprofit in the Health Care sector that reported $119.2M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $160.2M exceeded revenue, resulting in a 34% operating deficit.

Mission

IMPROVE THE HEALTH OF EVERY PERSON IN OUR COMMUNITY THROUGH THE EFFICIENT DELIVERY OF EXCELLENT, INNOVATIVE AND COMPASSIONATE CARE

Program Service Accomplishments

Program 1
Expenses: $146,195,061 Revenue: $115,990,547

PUTNAM HOSPITAL IS A 164-BED, ACUTE CARE HOSPITAL OFFERING INNOVATIVE TECHNOLOGIES, INCLUDING ROBOT-ASSISTED SURGERY. THE HOSPITAL IS COMMITTED TO PROVIDING SAFE, CONVENIENT CARE TO MEET THE PERSONAL...

Read more

PUTNAM HOSPITAL IS A 164-BED, ACUTE CARE HOSPITAL OFFERING INNOVATIVE TECHNOLOGIES, INCLUDING ROBOT-ASSISTED SURGERY. THE HOSPITAL IS COMMITTED TO PROVIDING SAFE, CONVENIENT CARE TO MEET THE PERSONAL HEALTHCARE NEEDS OF THE COMMUNITIES IT SERVES. PUTNAM HOSPITAL IS PART OF NUVANCE HEALTH, WHICH IS A SIX-HOSPITAL SYSTEM, ON 7 CAMPUSES, WITH NUMEROUS OUTPATIENT FACILITIES THROUGHOUT THE HUDSON VALLEY AND ACROSS WESTERN CONNECTICUT. THE NUVANCE HEALTH SYSTEM GIVES THE COMMUNITY ACCESS TO A VARIETY OF SERVICES INCLUDING, BUT NOT LIMITED TO, BARIATRIC SURGERY AND MEDICAL WEIGHT LOSS, BLOOD DRAW, CRITICAL CARE, DIABETES EDUCATION, EMERGENCY SERVICES, HEART AND VASCULAR, IMAGING AND RADIOLOGY, INFUSION THERAPY, NEUROLOGY AND NEUROSURGERY, ORTHOPEDIC CARE, PHYSICAL REHABILITATION, PRIMARY CARE, RHEUMATOLOGY, SLEEP DISORDERS, URGENT CARE, WOMEN'S HEALTH, BEHAVIORAL HEALTH, CANCER CARE, DENTISTRY, DIGESTIVE HEALTH, ENDOCRINOLOGY, GENETIC COUNSELING, HOME HEALTH CARE, INFECTIOUS DISEASE, KIDNEY DISEASE AND NEPHROLOGY, OCCUPATIONAL MEDICINE, PATIENT BLOOD MANAGEMENTS AND BLOODLESS MEDICINE, PEDIATRICS, PODIATRY, PULMONARY CARE, SENIOR CARE AND GERIATRIC MEDICINE, SURGICAL SERVICES, UROLOGY, WOUND CARE AND HYPERBARIC MEDICINE. PUTNAM HOSPITAL OFFERS ADVANCED SURGICAL SERVICES INCLUDING ORTHOPEDICS, SPINE, AND BARIATRIC SURGERY. THE HOSPITAL ALSO OFFERS STROKE CARE, A BLOOD MANAGEMENT PROGRAM, CARDIAC CARE, PSYCHIATRIC CARE INCLUDING A PARTIAL-HOSPITALIZATION PROGRAM, MATERNITY CARE, AND OUTPATIENT PHYSICAL REHABILITATION. PUTNAM HOSPITAL IS COMMITTED TO PROVIDING QUALITY SERVICE TO THE COMMUNITY AND HAS BEEN RECOGNIZED BY SEVERAL ORGANIZATIONS FOR THE QUALITY HEALTHCARE THAT IT PROVIDES TO THE REGION. PUTNAM HOSPITAL WAS RECOGNIZED AS A FIVE-STAR RECIPIENT BY HEALTHGRADES FOR ITS TREATMENT OF PULMONARY EMBOLISM AND RESPIRATORY FAILURE. PUTNAM HOSPITAL HAS BEEN RECOGNIZED BY U.S. NEWS & WORLD REPORT FOR ITS HIGH PERFORMANCE IN KNEE REPLACEMENT. THE HOSPITAL RECEIVED THE GET WITH THE GUIDELINES STROKE GOLD PLUS AWARD FROM THE AMERICAN HEART ASSOCIATION. PUTNAM HOSPITAL HAS RECEIVED SEVERAL ACCREDITATIONS INCLUDING MBSAQIP ACCREDITED BARIATRIC CENTER SINCE 2017, ACCREDITED AS A COMPREHENSIVE COMMUNITY CANCER PROGRAM FROM THE AMERICAN COLLEGE OF SURGEONS COMMISSION ON CANCER, BREAST HEALTH PROGRAM ACCREDITATION FROM THE NATIONAL ACCREDITATION PROGRAM FOR BREAST CENTERS, AND ACCREDITED FOR RADIATION ONCOLOGY FROM THE AMERICAN COLLEGE OF RADIOLOGY. PUTNAM HOSPITAL WAS ALSO DESIGNATED BY THE SURGICAL REVIEW CORPORATION AS A ROBOTIC CENTER OF EXCELLENCE. Every three years, we align health priorities with the areas of greatest identified need and consider where our resources will generate the greatest impact. Our commitment to improving the health and well-being of our community is demonstrated through the activities outlined in our community health improvement plan. Putnam Hospital identified the following two priorities that align with local health department and NYS Prevention Agenda priorities: * Prevent chronic diseases * Promote well-being and prevent mental and substance use disorders Workgroups developed goals, objectives, strategies, action steps, and success metrics for these priority areas. Below are key highlights showcasing the impact of our strategies in addressing health needs identified in the 2022 Community Health Needs Assessment (CHNA) and the 2023-2025 CHIP: The Roundtrip program was implemented for the Nuvance Health NY hospital PSAs in 2024. Specifically for Putnam Hospital, the program was implemented in August 2024. The program provides transportation for vulnerable populations, who may miss appointments due to lack of transportation to physician offices and hospital OP services. A total of 261 transports have been made for the Putnam PSA through the end of 2024. Mental Health First Aid classes, a national evidence-based program designed to teach skills for recognizing and responding to signs of mental illness and substance use, have been expanded from Connecticut to include New York hospitals. This training is now available across all hospital communities in both New York and Connecticut, ensuring broader access to this vital resource. Other CHIP activities included transportation assistance, the Get Fit fitness program, Health Related Social Needs screenings, distribution of Narcan and Fentanyl test strips, and diaper distribution programs. Community education sessions that focused on healthy lifestyle behaviors, stroke prevention, cancer screenings and prevention, smoking cessation counseling, chronic disease self-management and stress management were offered throughout the community, often in partnership with community-based organizations, senior centers and schools. Participation in National Drug Take-Back Days across the health system, resulted in the collection of over 1,500 pounds of medication and over 800 pounds of sharps for safe disposal. Over the last year, staff have also contributed time and expertise to many community organizations and task forces throughout the communities. IN FY24, PUTNAM HOSPITAL HAD 16,664 PATIENT DAYS AND 3,205 DISCHARGES IN ACUTE CARE. THERE WERE 18,439 IN EMERGENCY ROOM VISITS AND 66,345 IN OTHER OUTPATIENT VISITS/PROCEDURES. THE HOSPITAL PROVIDED APPROXIMATELY $4.0M IN CHARITY CARE TO THE REGIONS UN-INSURED AND UNDER-INSURED POPULATION.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $964,803
Program Service Revenue $115,729,012
Investment Income $633,522
Other Revenue $1,915,029
TOTAL REVENUE $119,242,366

Expense Breakdown

Grants Paid $0
Salaries & Benefits $87,569,975
Fundraising Expenses $0
Program Expenses $146,195,061
Other Expenses $72,584,558
TOTAL EXPENSES $160,154,533

Year-over-Year Comparison

2023 2022 Change
Revenue $119,242,366 $108,757,484 +0.1%
Expenses $160,154,533 $151,267,027 +0.1%
Net Income $-40,912,167 $-42,509,543 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
10
Independent Members
9
Employees
812
Volunteers
71

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
$3,159,590
Total Directors
12
$750,948
Key Employees
4
$4,002,464
Highest Compensated
6
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH A DEMARZO VICE CHAIR (TO 12/31); CHAIR (FROM 01/01) 3.0
Officer Director
$0 $0 $0
LORETTA MOLINARI VICE CHAIR (FROM 01/01) 3.0
Officer Director
$0 $0 $0
MARK K HIRKO MD PRESIDENT PHC 45.5
Officer Director
$705,054 $45,894 $750,948
WAYNE RYDER CHAIR (TO 12/31) 3.0
Officer Director
$0 $0 $0
BARBARA TUFANO DIRECTOR (FROM 01/01) 2.0
Director
$0 $0 $0
CORRINNE DIVESTEA DIRECTOR 2.0
Director
$0 $0 $0
JEFFREY KELLOGG DIRECTOR 2.0
Director
$0 $0 $0
JOSEPH ROBERTO DIRECTOR 2.0
Director
$0 $0 $0
JUSTIN MUENZ DIRECTOR 2.0
Director
$0 $0 $0
KENNETH KEARNEY DIRECTOR 2.0
Director
$0 $0 $0
MARJORIE L KEITH DIRECTOR 2.0
Director
$0 $0 $0
RAYMOND DURKIN DIRECTOR (TO 12/31) 2.0
Director
$0 $0 $0
BRIAN WYATT SECRETARY & CHIEF LEGAL OFFICER 2.0
Officer
$0 $124,638 $758,850
DANIEL DEBARBA CHIEF FINANCIAL OFFICER; TREASURER 2.0
Officer
$0 $175,627 $1,649,792
JEAN AHN CHIEF STRATEGY OFFICER 5.0
Key Emp
$0 $98,768 $1,079,899
KATHRYN D CULLINAN CHIEF HUMAN RESOURCES OFFICER 5.0
Key Emp
$0 $111,060 $827,453
MICHELLE ROBERTSON CHIEF OPERATING OFFICER 5.0
Key Emp
$0 $187,713 $1,525,961
WAYNE MCNULTY CHIEF COMPLIANCE OFFICER 5.0
Key Emp
$0 $33,749 $569,151
ANNE A GAYA-NGOWE RN CHIEF NURSING OFFICER 40.0
Highest
$306,488 $67,675 $374,163
JASON J GONG MEDICAL PHYSICIST 40.0
Highest
$237,441 $14,528 $251,969
JOAQUIN MAXINO REGISTERED NURSE 40.0
Highest
$229,111 $38,829 $267,940
KEYUR AJBANI VP MEDICAL AFFAIRS 40.0
Highest
$262,018 $22,404 $284,422
RONALD E STEPHENS DIRECTOR OF PATIENT CARE SERVICES 40.0
Highest
$236,285 $58,011 $294,296
WENDY LEWIS MANAGER PATIENT ACCESS 0.0
Highest
$61,660 $4,651 $111,623
PETER A KELLY FORMER PHC & VBMC PRESIDENT 0.0
$0 $14,267 $254,347
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 $119,242,366 $160,154,533 $166,491,419 $-40,912,167
2023 $108,757,484 $151,267,027 $159,709,350 $-42,509,543
2022 $120,566,272 $146,504,882 $156,427,547 $-25,938,610
2021 $141,202,593 $149,701,048 $193,353,907 $-8,498,455
2020 $147,922,000 $156,308,111 $182,378,405 $-8,386,111
2018 $162,367,963 $155,300,346 $188,187,902 $7,067,617
Explore More Nonprofits
Top 100 Nonprofits in New York Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare Putnam Hospital Center with other nonprofits in New York and across the country.