Dartmouth-Hitchcock Clinic

EIN: 222519596 501(c)(3) Health Care

Lebanon, NH

Total Revenue
$933,976,465
Total Expenses
$1,032,507,137
Total Assets
$303,009,481
Net Assets
$-484,234,592
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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
NH
Phone
6036531154
Tax Period
2024-07-01 to 2025-06-30

Dartmouth-Hitchcock Clinic, founded in 1983, is a major nonprofit in the Health Care sector that reported $934.0M in total revenue in fiscal year 2024. Expenses of $1.0B exceeded revenue, resulting in a 11% operating deficit.

Mission

WE ADVANCE HEALTH THROUGH RESEARCH, EDUCATION, CLINICAL PRACTICE, AND COMMUNITY PARTNERSHIPS, PROVIDING EACH PERSON THE BEST CARE, IN THE RIGHT PLACE, AT THE RIGHT TIME, EVERY TIME.

Program Service Accomplishments

Program 1
Expenses: $864,439,183 Revenue: $880,576,924

Dartmouth-Hitchcock Clinic (DHC) is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code (Code) and is exempt from federal income taxes on related income...

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Dartmouth-Hitchcock Clinic (DHC) is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code (Code) and is exempt from federal income taxes on related income, pursuant to Section 501(a) of the Code. DHC and its subsidiaries form a multispecialty physician practice which operates throughout New Hampshire and Vermont and provides both medical services to patients and medical education and research. Health care services provided during fiscal year 2025 resulted in 1,487,233 office visits, with 351,992 unique patients served. The promotion of health through the medical practice activities of DHC provides the basis for the organization's tax-exempt status. DHC operates as an integral component of (and is fully owned by) Dartmouth-Hitchcock Health (D-HH), (continued on schedule o)

Program 2
Expenses: $44,753,811 Revenue: $1,495,276

As a component of an integrated academic medical center, Dartmouth-Hitchcock Clinic (DHC) provides significant support for academic and research programs through its support of the Geisel School of...

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As a component of an integrated academic medical center, Dartmouth-Hitchcock Clinic (DHC) provides significant support for academic and research programs through its support of the Geisel School of Medicine at Dartmouth College (GSM). DHC provides support for physicians' unpaid teaching time as part of its community benefit initiatives, consisting of the time physicians spend providing clinical supervision and education for residents and medical students. In addition, DHC provides in-kind support for research and other grants representing costs in excess of awards for numerous grant-funded health research and service initiatives awarded to Mary Hitchcock Memorial Hospital (MHMH) and GSM. Other community benefit initiatives include subsidizing the costs of providing medical and clinical education to professionals across New Hampshire, Vermont, and beyond as well as uncompensated costs of academic and medical research activities.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $50,924,952
Program Service Revenue $758,353,553
Investment Income $46,262
Other Revenue $124,651,698
TOTAL REVENUE $933,976,465

Expense Breakdown

Grants Paid $4,334,056
Salaries & Benefits $446,552,832
Fundraising Expenses $211,112
Program Expenses $909,192,994
Other Expenses $581,620,249
TOTAL EXPENSES $1,032,507,137

Year-over-Year Comparison

2024 2023 Change
Revenue $933,976,465 $875,796,658 +0.1%
Expenses $1,032,507,137 $899,753,330 +0.1%
Net Income $-98,530,672 $-23,956,672 +3.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
18
Independent Members
12
Employees
6428
Volunteers
294

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
11
$8,890,738
Total Directors
19
$6,038,934
Key Employees
3
$1,358,663
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David P Paul Trustee / Secretary/Treasurer 0.8
Officer Director
$0 $0 $0
Joanne M Conroy MD Trustee, Ex-Officio, CEO 16.2
Officer Director
$2,473,236 $52,662 $2,525,898
ROBERTA L HINES MD TRUSTEE / Chair 1.5
Officer Director
$0 $0 $0
Celestina M Dooley-Jones PHD Trustee 0.8
Director
$0 $0 $0
Duane A Compton PHD Trustee / Ex-Officio 0.8
Director
$0 $0 $0
Emily Zeitler Staff Physician/Trustee (as of 1/1/25) 28.0
Director
$516,001 $69,972 $585,973
Gary V Desir Trustee 0.8
Director
$0 $0 $0
Geraldine Bednash PHD RN FAAN Trustee 0.8
Director
$0 $0 $0
Jason T Garbarino DNP RN GERO-BC Trustee (as of 1/18/25) 0.8
Director
$0 $0 $0
Jennifer L Moyer MBA Trustee 0.8
Director
$0 $0 $0
Jonathan B Thyng MD Trustee/Medical Director 12.0
Director
$378,761 $77,043 $455,804
Keith Loud MD Trustee /VP Svc Ln & Dept Chair - Pedi 40.0
Director
$543,027 $70,523 $613,550
Laura Chiang Trustee / Physician 12.0
Director
$417,975 $67,621 $485,596
Laurel J Richie Trustee (as of 1/1/25) 0.8
Director
$0 $0 $0
M Elyse Allan Trustee N/A
Director
$0 $0 $0
Marcus Coe MD GME Program Director/Trustee 40.0
Director
$836,390 $70,093 $906,483
Mark S Speers MBA Trustee 0.8
Director
$0 $0 $0
Nancy M Dunbar MD Trustee / Physician (Through 12/31/24) 12.0
Director
$394,799 $70,831 $465,630
Sherri C Oberg Trustee 0.8
Director
$0 $0 $0
Aimee M Claiborne Chief Human Resource Officer 12.0
Officer
$0 $53,691 $724,176
Edward J Merrens MD Chief Clinical Officer 12.0
Officer
$1,051,727 $49,303 $1,101,030
John Kacavas Chief Legal Officer 12.0
Officer
$0 $53,353 $845,439
Matthew Haag Chief Development Officer 12.0
Officer
$0 $43,749 $561,337
Patrick F Jordan III MBA Chief Operating Officer - DHC (through 6/21/25) 12.0
Officer
$0 $79,260 $1,211,968
Stephen LeBlanc Chief Strategy Officer 12.0
Officer
$1,016,111 $69,299 $1,085,410
Susan A Reeves EDD RN Executive VP (medical center) 12.0
Officer
$0 $12,996 $229,592
Wendy Fielding Chief Financial Officer 12.0
Officer
$0 $68,364 $605,888
David F Duncan System VP - Facilities Mgmt 12.0
Key Emp
$0 $47,168 $414,769
Simon C Hillier Dept Chair ANESTHESIOLOGY 12.0
Key Emp
$433,831 $68,285 $502,116
Tracy Galvin Chief Nursing Officer 12.0
Key Emp
$0 $47,519 $441,778
Adam Pearson Section Chief 40.0
Highest
$1,051,525 $70,500 $1,122,025
John Nigriny Physician 40.0
Highest
$1,299,631 $78,056 $1,377,687
Linton Evans GME Program Director 40.0
Highest
$1,161,802 $28,463 $1,190,265
Lixia Z Ellis Physician 40.0
Highest
$1,332,481 $64,786 $1,397,267
Matthew LeBoeuf Physician 12.0
Highest
$1,180,803 $44,542 $1,225,345
Daniel P Jantzen CFO D-HH/Former CFO MHMH 12.0
$0 $71,877 $1,256,164
David Gladstone MD CHF CLNCL PHYSCN - RADIOLOGY-FORMER DHC 40.0
$171,236 $10,274 $181,510
Kimberly Troland JD Former Interim Chief Legal Officer 0.0
$0 $52,939 $634,220
Maria Padin MD Former Officer/Chief medical Officer, CGP 12.0
$599,295 $68,542 $667,837
Peter D Solberg MD Chief Health Information Officer (DHC) - Former 40.0
$588,556 $77,090 $665,646
Staci Hermann PHARMD MS Former Chief Pharmacy Officer 0.0
$0 $10,389 $132,997
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 $933,976,465 $1,032,507,137 $303,009,481 $-98,530,672
2024 $875,796,658 $899,753,330 $285,053,857 $-23,956,672
2023 $638,417,127 $735,847,834 $296,975,257 $-97,430,707
2022 $611,625,171 $660,521,999 $244,752,235 $-48,896,828
2021 $623,379,844 $591,722,843 $263,269,510 $31,657,001
2020 $498,733,718 $529,508,671 $252,063,565 $-30,774,953
2019 $513,556,325 $495,217,012 $229,963,525 $18,339,313
2018 $455,923,543 $449,266,257 $218,528,160 $6,657,286
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