KENNEDY UNIVERSITY HOSPITAL INC

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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

1965

Legal Domicile

Principal Officer

BRIAN SWEENEY RN MBA FACHE

Phone

8566615100

Tax Period

2022-07-01 to 2023-06-30

KENNEDY UNIVERSITY HOSPITAL INC, founded in 1965, is a major nonprofit in the Health Care sector that reported $779.7M in total revenue in fiscal year 2022.

Mission

TO FUNCTION AS AN ACADEMIC MEDICAL CENTER THAT PROVIDES THE FINEST HEALTHCARE SERVICES WITH EXCELLENT OUTCOMES TO PEOPLE LIVING IN OUR COMMUNITIES. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.

Program Service Accomplishments

Program 1

Expenses: $659,761,347 Revenue: $758,768,411

EXPENSES INCURRED IN PROVIDING EMERGENCY AND MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, OR...

EXPENSES INCURRED IN PROVIDING EMERGENCY AND MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, OR ABILITY TO PAY. 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 (2022)

Revenue Breakdown

Contributions & Grants $10,508,333

Program Service Revenue $758,768,411

Investment Income $9,085,651

Other Revenue $1,315,926

TOTAL REVENUE $779,678,321

Expense Breakdown

Grants Paid $96,974

Salaries & Benefits $359,316,070

Fundraising Expenses $2,431,456

Program Expenses $659,761,347

Other Expenses $423,498,860

TOTAL EXPENSES $782,911,904

Year-over-Year Comparison

	2022	2021	Change
Revenue	$779,678,321	$722,110,488	+0.1%
Expenses	$782,911,904	$698,423,952	+0.1%
Net Income	$-3,233,583	$23,686,536	-1.1%

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

4934

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

$1,071,262

Total Directors

$738,086

Key Employees

$983,667

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN SWEENEY RN MBA FACHE	TRUSTEE - PRESIDENT/COO	55.0	Officer Director	$0	$51,905	$738,086
HENRY R SCHUITEMA DO	ER PHYSICIAN	55.0	Highest	$667,727	$41,218	$708,945
MARK CONDOLUCI DO	PHYSICIAN	55.0	Highest	$604,008	$36,846	$640,854
JOSEPH G GAMBALE DO	HOSPITALIST	55.0	Highest	$515,213	$30,732	$545,945
KELLY A WALENDA ESQ	SVP LEGAL SERVICES	55.0	Key Emp	$421,812	$76,484	$498,296
HELENE BURNS DNP RN NEA-BC	SVP/CHIEF NURSING OFFICER	55.0	Key Emp	$436,664	$48,707	$485,371
DAVID KOVALSKY DO	PHYSICIAN	55.0	Highest	$431,036	$37,699	$468,735
DAVID MAY MD	VP CHIEF PATIENT STAFF & QUAL	55.0	Highest	$429,632	$24,523	$454,155
JOSEPH W DEVINE FACHE	FORMER OFFICER	0.0		$412,103	$9,559	$421,662
STEPHEN V DESTEFANO CPA	VP FINANCE - JHNJ	55.0	Officer	$0	$14,206	$333,176
BRUCE J PAPARONE	CHAIR - TRUSTEE	5.0	Officer Director	$0	$0	$0
JOHN P SILVESTRI	VICE CHAIR - TRUSTEE	5.0	Officer Director	$0	$0	$0
JOHN E WALLACE JR ESQ	SECRETARY - TRUSTEE	5.0	Officer Director	$0	$0	$0
WILLIAM R BARKER	TREASURER - TRUSTEE	5.0	Officer Director	$0	$0	$0
ROBERT I BARSKY DO	TRUSTEE	5.0	Director	$0	$0	$0
RONALD L CAPUTO	TRUSTEE	5.0	Director	$0	$0	$0
DANIEL J DALTON	TRUSTEE	5.0	Director	$0	$0	$0
ROBERT DISTANISLAO	TRUSTEE	5.0	Director	$0	$0	$0
JOHN F DURANTE	TRUSTEE	5.0	Director	$0	$0	$0
THOMAS J GALLIA EDD	TRUSTEE	5.0	Director	$0	$0	$0
XIHAO HU	TRUSTEE	5.0	Director	$0	$0	$0
JOSEPH A MARESSA JR ESQ	TRUSTEE	5.0	Director	$0	$0	$0
MARK SCHUSTER DO	TRUSTEE	5.0	Director	$0	$0	$0
ALBERT E SMITH CPA	TRUSTEE	5.0	Director	$0	$0	$0
THOMAS A CAVALIERI DO	TRUSTEE; EX-OFFICio(TERM 3/23)	5.0	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$779,678,321	$782,911,904	$1,174,362,104	$-3,233,583
2022	$722,110,488	$698,423,952	$1,180,613,061	$23,686,536
2021	$668,598,689	$657,075,600	$1,241,829,856	$11,523,089
2020	$577,049,990	$668,656,361	$1,169,795,148	$-91,606,371
2019	$644,686,232	$570,866,608	$1,199,906,759	$73,819,624