Holyoke Medical Center Inc (EIN 222520073) - Form 990 Financial Analysis & Trantor Score

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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

1984

Legal Domicile

Principal Officer

Spiridon E Hatiras

Phone

4135342667

Tax Period

2023-10-01 to 2024-09-30

Holyoke Medical Center Inc, founded in 1984, is a major nonprofit in the Health Care sector that reported $266.1M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

Acute care hospital, providing medical and other healthcare services to residents of Holyoke, MA and the surrounding areas.

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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 $8,261,234

Program Service Revenue $257,178,852

Investment Income $605,202

Other Revenue $100,269

TOTAL REVENUE $266,145,557

Expense Breakdown

Grants Paid $56,399

Salaries & Benefits $159,757,435

Fundraising Expenses $0

Program Expenses $223,110,100

Other Expenses $104,853,790

TOTAL EXPENSES $264,667,624

Year-over-Year Comparison

	2023	2022	Change
Revenue	$266,145,557	$245,542,484	+0.1%
Expenses	$264,667,624	$248,612,084	+0.1%
Net Income	$1,477,933	$-3,069,600	-1.5%

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

2078

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

$1,396,923

Total Directors

$2,192,976

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Simon Ahtaridis MD	Director/Medical Director	50.00	Director	$373,911	$41,531	$415,442
John Mazzucco MD	Director/General Surgeon	50.00	Director	$360,713	$19,898	$380,611
Spiridon E Hatiras	President & CEO, Clerk	40.00	Officer Director	$0	$76,706	$996,930
Dean Vitarisi	Treasurer & CFO	40.00	Officer Director	$0	$48,263	$399,993
Julie A Beck MD	Director (start 2/2024)	0.50	Director	$0	$0	$0
Tom Buck MD	Director	0.50	Director	$0	$0	$0
Shannon Gurek	Director	0.50	Director	$0	$0	$0
John Hazen	Director (end 2/2024)	0.50	Director	$0	$0	$0
Sara Lawrence	Director (end 2/2024)	0.50	Director	$0	$0	$0
Mary Jo Maydew	Director	0.50	Director	$0	$0	$0
Daniel McIntire	Director (end 2/2024)	0.50	Director	$0	$0	$0
Gary Rome	Director (start 2/2024)	0.50	Director	$0	$0	$0
Idelia Smith	Director	0.50	Director	$0	$0	$0
George Timmons PhD	Director (start 2/2024)	0.50	Director	$0	$0	$0
Tricia Koss	Chair	1.00	Officer Director	$0	$0	$0
Michael Marcotte	Vice Chair (end 2/2024)	1.00	Officer Director	$0	$0	$0
Michael Sugrue	Director/Vice Chair (start 2/2024)	1.00	Officer Director	$0	$0	$0
Andrey Pavlov MD	Pulmonologist	50.00	Highest	$962,720	$3,062	$965,782
Noah J Epstein MD	Orthopedic Surgeon	50.00	Highest	$950,463	$25,241	$975,704
Marc J Zerbe MD	Obstetrician/Gynecologist	50.00	Highest	$847,071	$25,241	$872,312
Alexander Berry MD	Urologist	50.00	Highest	$922,932	$25,241	$948,173
Nirav R Sheth MD	Cardiologist	50.00	Highest	$798,976	$25,241	$824,217

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	$266,145,557	$264,667,624	$129,344,658	$1,477,933
2023	$245,542,484	$248,612,084	$123,522,026	$-3,069,600
2022	$220,302,598	$219,173,615	$113,711,951	$1,128,983
2021	$201,172,148	$195,574,305	$113,328,179	$5,597,843
2020	$198,185,895	$179,746,997	$108,442,188	$18,438,898
2019	$182,957,828	$177,738,751	$90,627,521	$5,219,077
2018	$170,946,790	$165,150,249	$86,879,444	$5,796,541

Holyoke Medical Center Inc