Garnet Health Medical Center - Catskills (EIN 146049030) - 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

1967

Legal Domicile

Phone

8457943300

Tax Period

2023-01-01 to 2023-12-31

Garnet Health Medical Center - Catskills, founded in 1967, is a mid-sized nonprofit in the Health Care sector that reported $98.5M in total revenue in fiscal year 2023.

Mission

THE MISSION OF GARNET HEALTH MEDICAL CENTER - CATSKILLS IS TO IMPROVE THE HEALTH OF THE COMMUNITY BY PROVIDING EXCEPTIONAL HEALTHCARE OVER A BROAD RANGE OF QUALITY HEALTHCARE 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 (2023)

Revenue Breakdown

Contributions & Grants $8,414,520

Program Service Revenue $88,291,304

Investment Income $64,280

Other Revenue $1,744,928

TOTAL REVENUE $98,515,032

Expense Breakdown

Grants Paid $12,395

Salaries & Benefits $55,534,117

Fundraising Expenses $0

Program Expenses $91,353,588

Other Expenses $50,568,580

TOTAL EXPENSES $106,115,092

Year-over-Year Comparison

	2023	2022	Change
Revenue	$98,515,032	$97,925,392	+0.0%
Expenses	$106,115,092	$108,439,400	0.0%
Net Income	$-7,600,060	$-10,514,008	-0.3%

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

723

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

$2,469,584

Total Directors

Key Employees

$758,149

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	VICE CHAIR UNTIL APRIL, 2023	1.0	Officer Director	$0	$0	$0
N/A	TREASURER, SECRETARY	1.0	Officer Director	$0	$0	$0
N/A	VICE CHAIR AS OF MAY, 2023	1.0	Officer Director	$0	$0	$0
N/A	CHAIR UNTIL APRIL, 2023	1.0	Officer Director	$0	$0	$0
N/A	CHAIR AS OF MAY, 2023	1.0	Officer Director	$0	$0	$0
N/A	GH INTERM PRESIDENT/CEO UNTIL MAY, 2023 / CEO GHMC-C AS OF JUNE 2023	40.0	Officer	$0	$67,119	$825,947
N/A	CHIEF FINANCIAL OFFICER	10.0	Officer	$0	$27,992	$1,009,487
N/A	GH PRESIDENT/CEO AS OF JUNE, 2023	10.0	Officer	$0	$34,615	$634,150
N/A	CMO	15.0	Key Emp	$0	$26,033	$435,943
N/A	CHIEF NURSING OFFICER GHMC-C	40.0	Key Emp	$0	$37,863	$322,206
N/A	REGISTERED NURSE	40.0	Highest	$199,128	$18,127	$217,255
N/A	REGISTERED NURSE	40.0	Highest	$182,078	$36,696	$218,774
N/A	REGISTERED NURSE	40.0	Highest	$175,835	$36,266	$212,101
N/A	PHARMACIST	40.0	Highest	$183,092	$0	$183,092
N/A	PHARMACIST	40.0	Highest	$225,140	$0	$225,140
N/A	FORMER GH PRESIDENT/CEO	0.0		$0	$1,435	$1,033,864
N/A	FORMER CMO	0.0		$0	$49,988	$823,196
N/A	FORMER CMO	0.0		$0	$38,396	$643,640

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	No data	No data	No data	No data
2023	$98,515,032	$106,115,092	$70,083,244	$-7,600,060
2023	No data	No data	No data	No data
2022	$97,925,392	$108,439,400	$77,491,969	$-10,514,008
2021	$110,012,823	$107,699,290	$107,792,982	$2,313,533
2020	$127,503,944	$115,750,363	$116,792,457	$11,753,581
2018	$95,164,322	$95,931,889	$83,633,933	$-767,567

Garnet Health Medical Center - Catskills