Mercy Hospital of Buffalo

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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

1957

Legal Domicile

Principal Officer

Joyce Markiewicz

Phone

7168282974

Tax Period

2023-01-01 to 2023-12-31

Mercy Hospital of Buffalo, founded in 1957, is a major nonprofit in the Health Care sector that reported $480.2M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

The Mission of Mercy 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 Mercy 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

Program Service Accomplishments

Program 1

Expenses: $248,175,019 Revenue: $262,849,710

Inpatient Routine/Surgery Visits: Acute Care Patient Days = 82,260Newborn Patient Days = 5,217Skilled Nursing Patient Days = 30,188IP Surgeries = 5,567

Program 2

Expenses: $185,046,472 Revenue: $195,988,347

Outpatient Routine/Surgery Services:Emergency Visits (Net of Admits) = 56,952Referred Ambulatory Visits = 116,694Operating Room = 4,593G.I. Laboratory = 399MAPU = 330Interventional Radiology =...

Outpatient Routine/Surgery Services:Emergency Visits (Net of Admits) = 56,952Referred Ambulatory Visits = 116,694Operating Room = 4,593G.I. Laboratory = 399MAPU = 330Interventional Radiology = 580Cardiac (EP & Catheterizations) = 3,900

Program 3

Expenses: $1,969,491 Revenue: $2,085,948

Clinic/Primary Care Services:Primary Care Visits = 595Clinic Visits = 3,046

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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 $14,623,232

Program Service Revenue $460,924,005

Investment Income $1,396,028

Other Revenue $3,281,924

TOTAL REVENUE $480,225,189

Expense Breakdown

Grants Paid $0

Salaries & Benefits $239,271,493

Fundraising Expenses $0

Program Expenses $435,190,982

Other Expenses $257,793,844

TOTAL EXPENSES $497,065,337

Year-over-Year Comparison

	2023	2022	Change
Revenue	$480,225,189	$408,880,632	+0.2%
Expenses	$497,065,337	$488,610,951	+0.0%
Net Income	$-16,840,148	$-79,730,319	-0.8%

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

2760

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

$7,677,281

Total Directors

$3,928,673

Key Employees

$854,188

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Walter Ludwig	Director	0.00	Director	$0	$61,647	$432,051
Alexis Agnello	Director	0.00	Director	$0	$0	$0
Aaron Chang	Director	0.00	Director	$0	$23,590	$288,921
Charles Urlaub	Director	0.00	Director	$0	$75,182	$561,880
Sister Marcia Ann Fiutko	Director	0.00	Director	$0	$0	$0
Nelson J Grimm PhD	Director	0.00	Director	$0	$0	$0
Emily H Jerge MS RN CHSE	Director	0.00	Director	$0	$0	$0
Toni Murphy DO	Director	0.00	Director	$0	$0	$0
Carol Heckman Esq	Director - Chair	0.00	Director	$0	$0	$0
Monsignor Robert E Zapfel	Director - Vice Chair	0.00	Director	$0	$0	$0
Mark Sullivan	President & CEO	0.00	Officer Director	$0	$104,188	$1,740,064
Martin Boryszak	Senior VP of Acute Care &	0.00	Officer Director	$0	$56,537	$654,068
Douglas Bean	Director	0.00	Director	$0	$0	$0
Russell Edwards	VP Finance & Corporate Con	0.00	Director	$0	$20,105	$251,689
Anthony Burgio	Director	0.00	Director	$0	$0	$0
Adam Dean	Director	0.00	Director	$0	$0	$0
Joyce Markiewicz	Chief Business Development Officer President & CEO	0.00	Officer	$0	$81,890	$1,168,362
David Macholz	Chief Finance Officer	0.00	Officer	$0	$80,342	$752,385
Rebecca McCormick Boyle	Chief Integration Officer	0.00	Officer	$0	$27,612	$284,523
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
James M Garvey	Executive VP, Chief Operat	0.00	Officer	$0	$66,683	$840,358
Hans Cassagnol	Executive VP, Chief Clinical Officr Chf Phys Exec	0.00	Officer	$0	$62,247	$718,041
Dr Michael Galang	Senior VP, Chief Informati	0.00	Officer	$0	$72,873	$586,616
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
Dr Lee Guterman	Physician	55.00	Highest	$801,365	$58,400	$859,765
Dr Jiantao Xiao	Physician	55.00	Highest	$792,516	$42,061	$834,577
Dr Jay Bolnick	Physician	55.00	Highest	$845,569	$37,481	$883,050
Dr Harsh Jain	Physician	55.00	Highest	$813,366	$47,009	$860,375
Dr Stephen Downing	Physician	55.00	Highest	$837,861	$60,032	$897,893

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	$480,225,189	$497,065,337	$268,555,572	$-16,840,148
2022	$408,880,632	$488,610,951	$261,406,561	$-79,730,319
2021	$393,707,674	$494,741,024	$284,418,216	$-101,033,350
2020	$409,821,994	$435,690,623	$358,435,736	$-25,868,629
2019	$428,911,803	$443,021,721	$361,081,997	$-14,109,918
2018	$435,983,803	$427,504,638	$319,662,967	$8,479,165