SHORE MEMORIAL HOSPITAL

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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

1942

Legal Domicile

Principal Officer

DAVID R HUGHES

Phone

6096533545

Tax Period

2024-01-01 to 2024-12-31

SHORE MEMORIAL HOSPITAL, founded in 1942, is a major nonprofit in the Health Care sector that reported $267.7M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $42.0M, a strong 16% operating margin.

Mission

THE MISSION OF SHORE MEDICAL CENTER IS TO CARE FOR AND RESPECT ALL PATIENTS, THEIR FAMILIES AND EACH OTHER. THE ORGANIZATION PROVIDES EMERGENCY AND MEDICAL NECESSARY HEALTHCARE SERVICES FOR ALL INDIVIDUALS REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT INCLUDED IN SCHEDULE O.

Program Service Accomplishments

Program 1

Expenses: $77,827,025 Revenue: $64,843,550

Expenses incurred in providing medically necessary inpatient medical services (excludes surgical cases and maternal child health), to all individuals in a non-discriminatory manner regardless of...

Expenses incurred in providing medically necessary inpatient medical services (excludes surgical cases and maternal child health), to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin, religion or ability to pay. During 2024, the organization had 6,044 discharges for a total of 28,024 patient days. Please refer to Schedule O for the organization's community benefit statement.

Program 2

Expenses: $32,198,140 Revenue: $39,536,393

Expenses incurred in providing medical necessary same day surgery services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay. During 2024, the organization treated 3,660 same day surgery cases. Please refer to Schedule O for the organization's community benefit statement.

Program 3

Expenses: $8,972,993 Revenue: $11,120,247

Expenses incurred in providing medical necessary maternal and pediatric inpatient services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay. During 2024, the organization had 1,924 discharges for a total of 5,083 patient days. Please refer to Schedule O for the organization's community benefit statement.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,580,430

Program Service Revenue $259,533,219

Investment Income $3,829,237

Other Revenue $1,790,862

TOTAL REVENUE $267,733,748

Expense Breakdown

Grants Paid $168,858

Salaries & Benefits $95,986,621

Fundraising Expenses $792,086

Program Expenses $187,266,775

Other Expenses $129,572,448

TOTAL EXPENSES $225,727,927

Year-over-Year Comparison

	2024	2023	Change
Revenue	$267,733,748	$242,052,527	+0.1%
Expenses	$225,727,927	$214,391,243	+0.1%
Net Income	$42,005,821	$27,661,284	+0.5%

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

1461

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

$4,029,590

Total Directors

$3,167,473

Key Employees

$1,496,689

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ronald W Johnson	Trustee - CEO (TERM 12/24)	55.0	Officer Director	$2,029,654	$100,471	$2,130,125
David R Hughes	Trustee - Pres/CEO (EFF 12/24)	55.0	Officer Director	$932,516	$104,832	$1,037,348
Jeanne M Rowe MD	Chief Medical Officer	55.0	Officer	$808,580	$53,537	$862,117
Frederick L Banner	Chief Information Officer	55.0	Key Emp	$404,379	$59,763	$464,142
Daniel Jacoby MD	Hospitalist	55.0	Highest	$357,711	$29,822	$387,533
Stephen Capecci DO	Hospitalist	55.0	Highest	$309,557	$27,914	$337,471
Jill Shultz	CNO (EFF 2/24)	55.0	Key Emp	$262,791	$68,837	$331,628
Vince Azzarello	VP of Human Res. (Eff 1/2/24)	55.0	Key Emp	$232,213	$66,553	$298,766
Robert L Wood	Director of Finance	55.0	Highest	$255,316	$34,652	$289,968
Tihomir Gueorguiev	RN, Critical Care	55.0	Highest	$218,873	$37,716	$256,589
Matthew Piskun	VP Amb & Surg Svcs. (Eff 5/24)	55.0	Key Emp	$247,046	$2,034	$249,080
Robert Robertson	Admin Director Logistics	55.0	Highest	$217,220	$27,598	$244,818
Alan L Beatty	Former Key Employee	55.0		$190,758	$0	$190,758
HOLLY BADALI	CNO (TERM 2/24)	55.0	Key Emp	$148,604	$4,469	$153,073
David Beyel	Chair - Trustee	1.0	Officer Director	$0	$0	$0
Edward Kuehnle	Vice Chair - Trustee	1.0	Officer Director	$0	$0	$0
R Scott Halliday	SECRETARY/ASST TREAS - TRUSTEE	1.0	Officer Director	$0	$0	$0
Ronald B Stablini CPA MBA	Treas/Asst Secretary - Trustee	1.0	Officer Director	$0	$0	$0
Robert C Allen	Trustee	1.0	Director	$0	$0	$0
Michael Bray	Trustee	1.0	Director	$0	$0	$0
Robert J Bray DDS MS	Trustee	1.0	Director	$0	$0	$0
Auggie Cipollini	Trustee	1.0	Director	$0	$0	$0
Patricia Q Connolly	Trustee	1.0	Director	$0	$0	$0
John Dabek	Trustee	1.0	Director	$0	$0	$0
Ken Koreyva	Trustee	1.0	Director	$0	$0	$0
Francis Lamb CPA	Trustee	1.0	Director	$0	$0	$0
Christopher Lucasti DO	Trustee; Ex-Officio	1.0	Director	$0	$0	$0
Barbara Ridge	Trustee	1.0	Director	$0	$0	$0
Judith L Roman	Trustee	1.0	Director	$0	$0	$0
Mukesh Roy MD	Trustee	1.0	Director	$0	$0	$0
Angelo Sparagna III MD	Trustee	1.0	Director	$0	$0	$0
Carmine J Taglialatella JWC	Trustee	1.0	Director	$0	$0	$0
Richard L Traa	Trustee	1.0	Director	$0	$0	$0

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	$267,733,748	$225,727,927	$370,087,922	$42,005,821
2023	$242,052,527	$214,391,243	$330,786,303	$27,661,284
2022	$259,330,927	$209,237,761	$334,920,102	$50,093,166
2021	$235,602,318	$198,391,739	$335,831,463	$37,210,579
2020	$197,090,777	$173,820,615	$304,994,274	$23,270,162
2019	$200,237,704	$181,220,987	$276,330,185	$19,016,717
2018	$191,681,769	$176,131,650	$270,432,411	$15,550,119