SISTERS OF CHARITY HOSPITAL FOUNDA… - Form 990 Financial Data

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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

1979

Legal Domicile

Principal Officer

AMY M SCHMIT

Phone

7169232968

Tax Period

2023-01-01 to 2023-12-31

SISTERS OF CHARITY HOSPITAL FOUNDATION, founded in 1979, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $1.8M exceeded revenue, resulting in a 46% operating deficit.

Mission

SISTERS HOSPITAL FOUNDATION IS A CHARITABLE, NOT-FOR-PROFIT 501(C)(3) CORPORATION WITH THE SOLE PURPOSE OF SUPPORTING THE MISSION AND SERVICES OF SISTERS OF CHARITY HOSPITAL OF BUFFALO, NEW YORK AND CHEEKTOWAGA, NEW YORK.

Program Service Accomplishments

Program 1

Expenses: $578,866

THE SISTERS HOSPITAL FOUNDATION PROVIDED FUNDS FOR CAPITAL RENOVATIONS AND EQUIPMENT PURCHASES TO ENSURE THAT OUR CLINCIAL CAREGIVERS HAVE ACCESS TO UP-TO-DATE FACILITIES AND STATE-OF-THE-ART...

THE SISTERS HOSPITAL FOUNDATION PROVIDED FUNDS FOR CAPITAL RENOVATIONS AND EQUIPMENT PURCHASES TO ENSURE THAT OUR CLINCIAL CAREGIVERS HAVE ACCESS TO UP-TO-DATE FACILITIES AND STATE-OF-THE-ART TECHNOLOGY.

Program 2

Expenses: $25,269

THE SISTERS HOSPITAL FOUNDATION PROVIDED FUNDING FOR STAFF EDUCATION INCLUDING THE REIMBURSEMENT OF TRAVEL AND LODGING EXPENSES AT CONFERENCES. IN ADDITION, THE FOUNDATION PROVIDED FUNDS FOR...

THE SISTERS HOSPITAL FOUNDATION PROVIDED FUNDING FOR STAFF EDUCATION INCLUDING THE REIMBURSEMENT OF TRAVEL AND LODGING EXPENSES AT CONFERENCES. IN ADDITION, THE FOUNDATION PROVIDED FUNDS FOR CONTINUING MEDICAL EDUCATION FOR PHYSICIANS, AS WELL AS VARIOUS PROGRAMS TO BENEFIT THE STAFF.

Program 3

Expenses: $569,256

THE SISTERS HOSPITAL FOUNDATION ALSO SERVED AS AN IMPORTANT VEHICLE FOR THE ENDOVASCULAR FELLOWSHIP PROGRAM, CARDIAC REHAB FUND, MASSAGE THERAPY FUND, AND THE PALLIATIVE CARE FUND.

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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 $551,049

Program Service Revenue $0

Investment Income $624,660

Other Revenue $29,667

TOTAL REVENUE $1,205,376

Expense Breakdown

Grants Paid $1,157,064

Salaries & Benefits $329,460

Fundraising Expenses $248,306

Program Expenses $1,173,391

Other Expenses $272,552

TOTAL EXPENSES $1,759,076

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,205,376	$1,409,755	-0.1%
Expenses	$1,759,076	$1,898,509	-0.1%
Net Income	$-553,700	$-488,754	+0.1%

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

Volunteers

N/A

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

Total Directors

$3,365,618

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AARON CHANG	PRESIDENT & CEO SOC	0.00	Director	$0	$23,590	$288,921
AMY M SCHMIT	CHAIR OF THE BOARD	0.00	Officer Director	$0	$0	$0
ANNE E SNYDER	EXECUTIVE DIRECTOR	55.00	Director	$122,912	$45,359	$168,271
BRIAN GWITT	DIRECTOR	0.00	Director	$0	$0	$0
CHARLES F HUNT	DIRECTOR	0.00	Director	$0	$0	$0
GREGORY EMMINGER	DIRECTOR	0.00	Director	$0	$0	$0
JACLYN KOOSHOIAN	DIRECTOR	0.00	Director	$0	$0	$0
JAMES ROALDI	TREASURER	0.00	Officer Director	$0	$0	$0
JOYCE MARKIEWICZ	CHIEF BUSINESS DEVELOPMENT OFFICER, PRESIDENT&CEO	0.00	Director	$0	$81,890	$1,168,362
JOYCE WILLIAMS	VICE CHAIR	0.00	Officer Director	$0	$0	$0
MARILYN BOEHLER	SECRETARY	0.00	Officer Director	$0	$0	$0
MARK A SULLIVAN	PRESIDENT & CEO	0.00	Director	$0	$104,188	$1,740,064
MICHAEL HOFER	DIRECTOR	0.00	Director	$0	$0	$0
MICHAEL KNOTT	DIRECTOR	0.00	Director	$0	$0	$0
THOMAS BESTPITCH	DIRECTOR	0.00	Director	$0	$0	$0
ZACHARY P SCHNEIDER	DIRECTOR	0.00	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	No data	No data	No data	No data
2023	$1,205,376	$1,759,076	$11,837,875	$-553,700
2022	$1,409,755	$1,898,509	$11,200,771	$-488,754
2021	$2,352,816	$1,700,664	$13,651,240	$652,152
2020	$1,981,096	$1,789,609	$12,995,576	$191,487
2019	$1,502,688	$1,627,622	$11,406,392	$-124,934
2018	$1,871,900	$1,877,779	$10,139,985	$-5,879

SISTERS OF CHARITY HOSPITAL FOUNDATION