KALEIDA HEALTH

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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

1998

Legal Domicile

Principal Officer

DONALD BOYD

Phone

7168598836

Tax Period

2023-01-01 to 2023-12-31

KALEIDA HEALTH, founded in 1998, is a large national nonprofit in the Health Care sector that reported $1.7B in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

KALEIDA HEALTH IS THE LARGEST HEALTHCARE PROVIDER IN WNY, SERVING THE AREA'S EIGHT COUNTIES WITH COMPREHENSIVE SERVICES & PROGRAMS PROVIDED AT FOUR ACUTE CARE, TWO LONG TERM CARE, AS WELL AS OUTPATIENT & PRIMARY CARE SITES.

Program Service Accomplishments

Program 1

Expenses: $1,441,661,622 Revenue: $1,591,869,120

THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAYMENTS. THESE AMOUNTS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). - JODY LOMEO - $242,021 - ROBERT NESSELBUSH - $1,851,642

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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 $51,408,766

Program Service Revenue $1,589,875,326

Investment Income $-331,751

Other Revenue $47,915,596

TOTAL REVENUE $1,688,867,937

Expense Breakdown

Grants Paid $330,400

Salaries & Benefits $802,426,200

Fundraising Expenses $0

Program Expenses $1,441,661,622

Other Expenses $849,248,535

TOTAL EXPENSES $1,652,005,135

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,688,867,937	$1,502,415,886	+0.1%
Expenses	$1,652,005,135	$1,511,444,624	+0.1%
Net Income	$36,862,802	$-9,028,738	-5.1%

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

9867

Volunteers

593

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

$9,553,981

Total Directors

$3,716,750

Key Employees

$3,103,023

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONALD BOYD	PRESIDENT AND CEO	40.00	Officer Director	$3,282,564	$81,886	$3,364,450
NICHOLAS J AQUINO MD	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS BEAUFORD	DIRECTOR	1.00	Director	$0	$0	$0
LORRIE A CLEMO PHD	DIRECTOR	1.00	Director	$0	$0	$0
GARY M CROSBY	CHAIRMAN	1.00	Director	$0	$0	$0
ABEER EDDIB MD	DIRECTOR	1.00	Director	$23,282	$0	$23,282
MUHAMMED JAVED MD	DIRECTOR	1.00	Director	$0	$0	$136,667
GEORGE E MATTHEWS MD	DIRECTOR	1.00	Director	$0	$0	$192,351
WILLIAM J MAGGIO JR	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MCMAHON	DIRECTOR (AS OF 12/23)	1.00	Director	$0	$0	$0
TIMOTHY G MCEVOY ESQ	DIRECTOR	1.00	Director	$0	$0	$0
PAUL O'LEARY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN PERSONS	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER ROSS	DIRECTOR	1.00	Director	$0	$0	$0
MARY LOU RUSIN RD EDD	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL KLASS	CHIEF NURSE EXECUTIVE/COO	40.00	Officer	$1,488,053	$100,150	$1,588,203
ALYSON SPAULDING	GENERAL COUNSEL	40.00	Officer	$1,116,970	$77,072	$1,194,042
THOMAS HULL	SVP, CHIEF INFO OFF (THRU 03/23)	40.00	Officer	$303,257	$18,760	$322,017
MICHAEL MINEO MD	EVP, CHIEF MED OFFICER	40.00	Officer	$872,844	$34,672	$907,516
IAN BARRETT	EVP, CHIEF HUMAN RES OFFICER	40.00	Officer	$478,919	$15,908	$494,827
MATTHEW DRAKE	EVP CFO (THRU 10/23)/EVP STRAT/PSHIP	40.00	Officer	$917,724	$32,684	$950,408
MARJORIE QUINT-BOUZID	EVP, CHIEF NURSE EXEC (AS OF 6/23)	40.00	Officer	$310,839	$4,867	$315,706
HUGH CHISHOLM	EVP, CFO (AS OF 10/23)	40.00	Officer	$215,304	$4,341	$219,645
COURTNEY STARNES	SVP, CHIEF INFO OFF (AS OF 11/23)	40.00	Officer	$197,167	$0	$197,167
MICHAEL HUGHES	CHIEF ADMINISTRATIVE OFFICER	40.00	Key Emp	$845,953	$52,340	$898,293
JUDY BAUMGARTNER	PRESIDENT MFS AND DEGRAFF	40.00	Key Emp	$771,184	$66,670	$837,854
BETH HUGHES	PRESIDENT BGMC AND GVI	40.00	Key Emp	$758,442	$28,220	$786,662
STEPHEN TURKOVICH MD	PRESIDENT OISHEI CHILDREN'S HOSPITAL	40.00	Key Emp	$560,871	$19,343	$580,214
CHRISTOPHER MALLAVARAPU MD	EMPLOYED PHYSICIAN	40.00	Highest	$890,655	$46,690	$937,345
KAVEH VALI MD	EMPLOYED PHYSICIAN	40.00	Highest	$754,172	$33,370	$787,542
CARROLL HARMON MD	EMPLOYED PHYSICIAN	40.00	Highest	$716,022	$36,310	$752,332
LUCY CAMPBELL MD	EMPLOYED PHYSICIAN	40.00	Highest	$500,135	$130,976	$631,111
VICTOR FILADORA II	PRESIDENT GREAT LAKES CANCER CARE	40.00	Highest	$988,096	$20,882	$1,008,978
JODY LOMEO	FMR PRES/CEO	0.00		$242,021	$9,290	$251,311
ROBERT NESSELBUSH	FORMER CEO	0.00		$1,867,985	$3,271	$1,871,256

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	$1,688,867,937	$1,652,005,135	$1,193,283,000	$36,862,802
2022	$1,502,415,886	$1,511,444,624	$1,204,818,970	$-9,028,738
2021	$1,422,456,285	$1,414,536,168	$1,193,308,740	$7,920,117
2020	$1,330,065,887	$1,390,880,053	$1,227,951,462	$-60,814,166
2019	$1,347,466,204	$1,365,524,351	$1,415,407,913	$-18,058,147
2018	$1,363,932,893	$1,343,724,477	$1,433,260,601	$20,208,416