Putnam Hospital Center (EIN 146019179) - 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

1962

Legal Domicile

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.

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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 $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

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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

812

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

$3,159,590

Total Directors

$750,948

Key Employees

$4,002,464

Highest Compensated

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

Putnam Hospital Center