Sisters of Charity Hospital (EIN 160743187) - 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

1849

Legal Domicile

Principal Officer

Mark Sullivan

Phone

7169232968

Tax Period

2023-01-01 to 2023-12-31

Sisters of Charity Hospital, founded in 1849, is a major nonprofit in the Health Care sector that reported $391.8M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

The Mission of Sisters of Charity Hospital, as part of the Catholic Health System (CHS) in Western New York, is to provide quality healthcare services in an acute care setting. Committed to a common mission, the providers of Sisters of Charity Hospital continue the healing ministry of Jesus, seeking to improve the health of individuals and communities. We provide high quality service that has reverence, compassion, justice, and excellence. The 2023 Community Service Plan can be found at https://www.chsbuffalo.org/about-us/community

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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 $18,855,637

Program Service Revenue $362,414,204

Investment Income $739,997

Other Revenue $9,780,662

TOTAL REVENUE $391,790,500

Expense Breakdown

Grants Paid $0

Salaries & Benefits $183,975,957

Fundraising Expenses $0

Program Expenses $356,496,707

Other Expenses $223,444,428

TOTAL EXPENSES $407,420,385

Year-over-Year Comparison

	2023	2022	Change
Revenue	$391,790,500	$349,841,389	+0.1%
Expenses	$407,420,385	$396,612,117	+0.0%
Net Income	$-15,629,885	$-46,770,728	-0.7%

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

2290

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

$7,312,134

Total Directors

$3,274,605

Key Employees

$1,508,256

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mark Sullivan	President & CEO	0.00	Officer Director	$0	$104,188	$1,740,064
Charles Urlaub	Director	0.00	Director	$0	$75,182	$561,880
Walter Ludwig	Director	0.00	Director	$0	$61,647	$432,051
Carol Heckman Esq	Director - Chair	0.00	Director	$0	$0	$0
Sister Marcia Ann Fiutko	Director	0.00	Director	$0	$0	$0
Nelson J Grimm PhD	Director	0.00	Director	$0	$0	$0
Douglas Bean	Director	0.00	Director	$0	$0	$0
Adam Dean	Director	0.00	Director	$0	$0	$0
Russell Edwards	VP Finance & Corporate Controller	0.00	Director	$0	$20,105	$251,689
Aaron Chang	President & CEO - SOC	55.00	Officer Director	$265,331	$23,590	$288,921
Anthony Burgio	Director	0.00	Director	$0	$0	$0
Monsignor Robert E Zapfel	Director - Vice Chair	0.00	Director	$0	$0	$0
Alexis Agnello	Director	0.00	Director	$0	$0	$0
Toni Murphy DO	Director	0.00	Director	$0	$0	$0
Emily H Jerge MS RN CHSE	Director	0.00	Director	$0	$0	$0
David Macholz	Chief Finance Officer	0.00	Officer	$0	$80,342	$752,385
Dr Michael Galang	Senior VP, Chief Informati	0.00	Officer	$0	$72,873	$586,616
Joyce Markiewicz	Chief Business Development Officer President & CEO	0.00	Officer	$0	$81,890	$1,168,362
Bartholomew Rodrigues	Chief Mission Officer	0.00	Officer	$0	$62,942	$340,300
William Pryor	Executive VP, Chief Admin.	0.00	Officer	$0	$68,469	$592,564
Dr Hans Cassagnol	Executive VP, Chief Physician Officer	0.00	Officer	$0	$62,247	$718,041
James M Garvey	Executive VP, Chief Operating Officer	0.00	Officer	$0	$66,683	$840,358
Rebecca McCormick Boyle	Chief Integration Officer	0.00	Officer	$0	$27,612	$284,523
Martin Boryszak	Senior VP of Acute Care & President of MHB	0.00	Key Emp	$0	$56,537	$654,068
Leonardo Sette-Camara	General Counsel - Secretar	0.00	Key Emp	$0	$46,568	$387,036
Lisa Cilano	Senior VP, RMC & Business	0.00	Key Emp	$0	$114,286	$467,152
Daniel Molloy	Physician	55.00	Highest	$399,920	$40,830	$440,750
Dr Chad Strittmatter	Physician	55.00	Highest	$436,004	$69,031	$505,035
Dr Paul Updike	Physician	55.00	Highest	$373,262	$73,865	$447,127
Praba Jeyalingam	Physician	55.00	Highest	$353,101	$18,437	$371,538
Jiyeon Jung	Physician	55.00	Highest	$352,150	$40,632	$392,782

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	$391,790,500	$407,420,385	$270,133,362	$-15,629,885
2022	$349,841,389	$396,612,117	$265,552,201	$-46,770,728
2021	$364,077,720	$396,206,022	$326,473,694	$-32,128,302
2020	$353,422,667	$372,310,989	$363,352,482	$-18,888,322
2019	$337,395,659	$344,833,426	$356,254,604	$-7,437,767
2018	$327,505,882	$335,676,938	$337,336,484	$-8,171,056

Sisters of Charity Hospital