VIRTUA OUR LADY OF LOURDES HOSPITA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1950

Legal Domicile

Principal Officer

DENNIS W PULLIN

Phone

8563550620

Tax Period

2023-01-01 to 2023-12-31

VIRTUA OUR LADY OF LOURDES HOSPITALINC, founded in 1950, is a major nonprofit in the Health Care sector that reported $485.1M in total revenue in fiscal year 2023.

Mission

WE ARE DEDICATED TO PROVIDING EACH PATIENT AND THEIR FAMILY WITH AN OUTSTANDING EXPERIENCE AND ENSURING THE HIGHEST QUALITY HEALTHCARE FOR THE COMMUNITY. WE ARE COMMITTED TO PROVIDING OUR HEALTHCARE TEAM WITH RESOURCES, TECHNOLOGY AND TRAINING, AS WELL AS WITH OPPORTUNITIES FOR PROFESSIONAL GROWTH.

Program Service Accomplishments

Program 1

Expenses: $104,890,903 Revenue: $67,160,077

UNREIMBURSED MEDICAID - VIRTUA PROVIDED CARE TO MANY COMMUNITY MEMBERS THAT ARE INSURED UNDER MEDICAL ASSISTANCE PROGRAMS, INCLUDING THE STATE ADMINISTERED MEDICAID PROGRAM. REIMBURSEMENT FOR THESE PROGRAMS IS LESS THAN THE COST OF THE SERVICE PROVIDED BY APPROXIMATELY $37.7 MILLION, AS ESTIMATED BY MANAGEMENT. SERVICES ARE PROVIDED ON BOTH AN INPATIENT AND OUTPATIENT BASIS, INCLUDING THROUGH EMERGENCY DEPARTMENTS AND CLINICS.

Program 2

Expenses: $19,576,446 Revenue: $8,721,917

MEDICAL EDUCATION - VIRTUA OUR LADY OF LOURDES HOSPITAL IS ONE OF THE REGION'S LEADING HEALTHCARE PROVIDERS, RECOGNIZED NATIONALLY FOR EXCELLENCE IN CLINICAL CARE AND SERVICE TO THE COMMUNITY. OUR...

MEDICAL EDUCATION - VIRTUA OUR LADY OF LOURDES HOSPITAL IS ONE OF THE REGION'S LEADING HEALTHCARE PROVIDERS, RECOGNIZED NATIONALLY FOR EXCELLENCE IN CLINICAL CARE AND SERVICE TO THE COMMUNITY. OUR INTERN AND RESIDENT EDUCATION PROGRAMS HELP DEVELOP AND TRAIN LEADERS IN MEDICINE. VIRTUA'S RESIDENCY PROGRAMS (OBSTETRICS AND GYNECOLOGY, FAMILY MEDICINE, PHARMACY, AND PODIATRY) AND FELLOWSHIP (CARDIOLOGY) ARE DEDICATED TO PROVIDE REWARDING EXPERIENCES.

Program 3

Expenses: $8,559,151 Revenue: $1,234,098

CHARITY CARE - UNDER THE GUIDANCE OF ITS COMMUNITY BASED BOARD OF TRUSTEES AND THE SUPPORT OF THE PHYSICIANS ON ITS OPEN MEDICAL STAFF, VIRTUA OUR LADY OF LOURDES HOSPITAL PROVIDES MEDICALLY...

CHARITY CARE - UNDER THE GUIDANCE OF ITS COMMUNITY BASED BOARD OF TRUSTEES AND THE SUPPORT OF THE PHYSICIANS ON ITS OPEN MEDICAL STAFF, VIRTUA OUR LADY OF LOURDES HOSPITAL PROVIDES MEDICALLY NECESSARY SERVICES TO INDIVIDUALS IRRESPECTIVE OF THEIR ABILITY TO PAY. PROGRAMS ARE IN PLACE TO IDENTIFY AND PROVIDE FINANCIAL ASSISTANCE TO THOSE IN NEED. SOME PATIENTS WILL QUALIFY FOR CHARITY CARE ASSISTANCE UNDER STATE OF NEW JERSEY DEFINED ELIGIBILITY CRITERIA. VIRTUA OUR LADY OF LOURDES HOSPITAL AUGMENTS THE STATE'S PROGRAM WITH ITS OWN ASSISTANCE PROGRAM FOR WHICH THE CRITERIA IS LESS RESTRICTIVE THAN THAT OF THE STATE PROGRAM, PROVIDING ASSISTANCE TO INDIVIDUALS EARNING UP TO 500% OF THE FEDERAL POVERTY GUIDELINES. MANAGEMENT ESTIMATES THE TOTAL COST OF CHARITY CARE PROVIDED DURING 2023 TO BE APPROXIMATELY $7.3 MILLION.

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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 $1,639,205

Program Service Revenue $478,761,865

Investment Income $119,086

Other Revenue $4,533,600

TOTAL REVENUE $485,053,756

Expense Breakdown

Grants Paid $0

Salaries & Benefits $162,140,307

Fundraising Expenses $0

Program Expenses $417,859,257

Other Expenses $311,930,905

TOTAL EXPENSES $474,071,212

Year-over-Year Comparison

	2023	2022	Change
Revenue	$485,053,756	$456,624,863	+0.1%
Expenses	$474,071,212	$432,093,606	+0.1%
Net Income	$10,982,544	$24,531,257	-0.6%

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

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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

2319

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

$5,666,093

Total Directors

$6,977,102

Key Employees

$675,123

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENNIS W PULLIN END 73123	PRESIDENT/CEO	0.10	Officer Director	$0	$57,766	$3,487,539
REGINALD J BLABER	TRUSTEE - EVP/CCO (START 8/1/23)	0.10	Director	$0	$47,908	$1,134,091
CHUN W CHOI START 8123	TRUSTEE - VP CLINICAL OPERATIONS	0.10	Director	$0	$57,766	$1,765,202
MARK P NESSEL START 8123	TRUSTEE - LOURDES HOSPITAL PRESIDENT	40.10	Director	$543,487	$46,783	$590,270
THOMAS FANELLE START 8123	CHAIR	0.10	Officer Director	$0	$0	$0
EDWARD CLOUES END 73123	CHAIR	0.10	Officer Director	$0	$0	$0
JAMES DWYER DO	VICE CHAIR (END 7/31/23)	0.10	Officer Director	$0	$0	$0
MICHAEL DRISCOLL START 8123	TRUSTEE - MEDICAL STAFF PRESIDENT	0.10	Director	$0	$0	$0
PATRICIA CODEY END 73123	TRUSTEE	0.10	Director	$0	$0	$0
ELAINE DAMM END 73123	TRUSTEE	0.10	Director	$0	$0	$0
LESLIE DONATO END 73123	TRUSTEE	0.10	Director	$0	$0	$0
DAMIEN GHEE START 13123	TRUSTEE (END 7/31/23)	0.10	Director	$0	$0	$0
GRAYLING JOHNSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
SANIAH JOHNSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
PRATAP KHEDKAR END 73123	TRUSTEE	0.10	Director	$0	$0	$0
DAVID KINDLICK END 73123	TRUSTEE	0.10	Director	$0	$0	$0
GEORGE LYNN END 73123	TRUSTEE	0.10	Director	$0	$0	$0
FAYE MELOY END 73123	TRUSTEE	0.10	Director	$0	$0	$0
JOHN PARKER END 73123	TRUSTEE	0.10	Director	$0	$0	$0
ADOLFO PIPERNO END 73123	TRUSTEE	0.10	Director	$0	$0	$0
STACY ROBINSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
MARVIN SAMSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
CHARLES VILA END 73123	TRUSTEE	0.10	Director	$0	$0	$0
ROBERT M SEGIN END 73123	TREASURER - EVP/CFO	0.10	Officer	$0	$44,861	$1,282,262
LAUREN ROWINSKI END 73123	SECRETARY - SVP & CHIEF LEGAL OFF.	0.10	Officer	$0	$42,031	$896,292
KAREN MAGARELLI	VP CNO - LOURDES HOSPITAL	40.00	Key Emp	$313,620	$56,982	$370,602
LANNAE EWING	VP CARDIAC OPERATIONS	40.00	Key Emp	$259,823	$44,698	$304,521
ALAN POPE	VP CMO - LOURDES HOSPITAL	40.00	Highest	$566,124	$47,189	$613,313
MARK PETRACCI	PERFUSIONIST SUPERVISOR	40.00	Highest	$285,463	$42,003	$327,466
NERIA D IDULSA	REGISTERED NURSE	40.00	Highest	$249,619	$25,135	$274,754
JENNIFER MILLARE DOUGLASS	REGISTERED NURSE	40.00	Highest	$247,445	$52,593	$300,038
CLAIRE GRIST SEENARINE	REGISTERED NURSE	40.00	Highest	$245,400	$24,399	$269,799
JOHN M MATSINGER	EVP/COO	0.00		$0	$56,571	$1,598,426
LISA C FERRARO	SVP - CHIEF QUALITY SAFETY RISK OFFICER	0.00		$0	$41,798	$479,692

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	$485,053,756	$474,071,212	$301,609,880	$10,982,544
2022	$456,624,863	$432,093,606	$283,727,300	$24,531,257
2021	$410,021,103	$376,270,389	$282,703,605	$33,750,714
2021	$410,021,103	$376,270,389	$282,703,605	$33,750,714
2020	$361,953,090	$331,992,878	$258,143,821	$29,960,212
2019	$328,773,403	$455,064,256	$94,292,699	$-126,290,853
2018	$336,503,623	$319,926,096	$318,859,710	$16,577,527

VIRTUA OUR LADY OF LOURDES HOSPITALINC