CENTRAL VERMONT MEDICAL CENTER INC

EIN: 222547186 501(c)(3) Health Care

BERLIN, VT

Total Revenue
$319,911,398
Total Expenses
$323,892,362
Total Assets
$176,619,849
Net Assets
$89,364,260
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
VT
Principal Officer
MS ANNA T NOONAN
Phone
8023714100
Tax Period
2023-10-01 to 2024-09-30

CENTRAL VERMONT MEDICAL CENTER INC, founded in 1963, is a major nonprofit in the Health Care sector that reported $319.9M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

CVMC WORKS COLLABORATIVELY TO MEET THE NEEDS AND IMPROVE THE HEALTH OF THE RESIDENTS OF CENTRAL VERMONT.

Program Service Accomplishments

Program 1
Expenses: $183,651,845 Revenue: $243,904,134

HOSPITAL SERVICES: INPATIENT, OUTPATIENT, AND 24/7 EMERGENCY DEPARTMENT SERVICES: CVMC HAS 122 LICENSED BEDS TO PROVIDE FOR A FULL SPECTRUM OF INPATIENT, OUTPATIENT, AND EMERGENCY CARE SERVICES...

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HOSPITAL SERVICES: INPATIENT, OUTPATIENT, AND 24/7 EMERGENCY DEPARTMENT SERVICES: CVMC HAS 122 LICENSED BEDS TO PROVIDE FOR A FULL SPECTRUM OF INPATIENT, OUTPATIENT, AND EMERGENCY CARE SERVICES. 20,026 INPATIENT DAYS, MORE THAN 250,000 OUTPATIENT PROCEDURES, AND 28,029 EMERGENCY ROOM VISITS WERE RECORDED DURING FISCAL YEAR 2024. OUTPATIENT ANCILLARY SERVICE UNITS MAKE UP THE MAJORITY OF SERVICE VOLUME, INCLUDING 42,722 RADIOLOGY PROCEDURES, 526,368 LAB TESTS, 19,846 CARDIOLOGY TESTS, AND 155,955 UNITS OF PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY. EMERGENCY DEPARTMENT: THE ER IS OPEN 24 HOURS A DAY 365 DAYS A YEAR. THE NUMBER OF PATIENTS SEEN IN THE ER IN FISCAL YEAR 2024 WAS 28,029. THE CANCER TREATMENT CENTER PROVIDED 4,260 ONCOLOGY AND RADIATION TREATMENTS. THE HOSPITAL ALSO HAS BEEN ACTIVE IN ITS OUTREACH TO CENTRAL VERMONT'S UNINSURED AND UNDER INSURED RESIDENTS.

Program 2
Expenses: $85,499,693 Revenue: $48,846,409

MEDICAL GROUP PRACTICES: AT THE END OF THE FISCAL YEAR WE HAD 28 PRIMARY CARE, INFIRMARY, AND SPECIALTY PRACTICES. THIS INCLUDED 10 PRIMARY AND FAMILY CARE CLINICS, 1 PEDIATRIC CLINIC, AS WELL AS...

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MEDICAL GROUP PRACTICES: AT THE END OF THE FISCAL YEAR WE HAD 28 PRIMARY CARE, INFIRMARY, AND SPECIALTY PRACTICES. THIS INCLUDED 10 PRIMARY AND FAMILY CARE CLINICS, 1 PEDIATRIC CLINIC, AS WELL AS SPECIALTY CLINICS FOR UROLOGY, CARDIOLOGY, PODIATRY, RHEUMATOLOGY, ENT, ENDOCRINOLOGY, ORTHOPAEDICS, PSYCHOLOGY, AND OBSTETRICS/ GYNECOLOGY. THERE WERE A TOTAL OF 593,269 PRACTICE VISITS DURING FISCAL YEAR 2024.

Program 3
Expenses: $23,053,854 Revenue: $22,681,117

WOODRIDGE REHAB & NURSING IS A MEDICARE-CERTIFIED 153-LICENSED BED SKILLED NURSING FACILITY LOCATED ON THE CAMPUS OF CENTRAL VERMONT MEDICAL CENTER. APPROXIMATELY TWO-THIRDS OF THE FACILITIES BEDS...

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WOODRIDGE REHAB & NURSING IS A MEDICARE-CERTIFIED 153-LICENSED BED SKILLED NURSING FACILITY LOCATED ON THE CAMPUS OF CENTRAL VERMONT MEDICAL CENTER. APPROXIMATELY TWO-THIRDS OF THE FACILITIES BEDS ARE DEDICATED TO LONG TERM CARE, INCLUDING PALLIATIVE CARE/END OF LIFE CARE AND THE OTHER ONE-THIRD PROVIDE SHORT TERM REHABILITATION THERAPY AND POST-ACUTE CARE FOR A GREAT VARIETY OF MEDICAL CARE CATEGORIES, INCLUDING PAIN MANAGEMENT AND WOUND CARE. THE FACILITY PROVIDES "PERSON-CENTERED", ROUND THE CLOCK NURSING CARE AND SOCIAL SERVICES SUPPORT COMPLEMENTING DAILY, ROBUST ACTIVITIES PROGRAMS, FINE DINING AND HAS A FULL COMPLIMENT OF SUPPORT SERVICES INCLUDING HOUSEKEEPING/LAUNDRY, MAINTENANCE AND TRANSPORTATION. MANY OTHER AMENITIES ARE AVAILABLE TO FACILITY RESIDENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,240,649
Program Service Revenue $315,431,660
Investment Income $2,868,784
Other Revenue $370,305
TOTAL REVENUE $319,911,398

Expense Breakdown

Grants Paid $63,505
Salaries & Benefits $183,350,803
Fundraising Expenses $291,711
Program Expenses $292,205,392
Other Expenses $140,478,054
TOTAL EXPENSES $323,892,362

Year-over-Year Comparison

2023 2022 Change
Revenue $319,911,398 $274,059,874 +0.2%
Expenses $323,892,362 $290,980,110 +0.1%
Net Income $-3,980,964 $-16,920,236 -0.8%
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
11
Independent Members
7
Employees
1887
Volunteers
120

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
7
$1,047,614
Total Directors
17
$3,971,380
Key Employees
3
$865,746
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUNIL EAPPEN MD TRUSTEE 6.0
Director
$0 $198,581 $2,147,061
ANNA T NOONAN PRESIDENT & COO/TRUSTEE 35.0
Officer Director
$554,062 $109,957 $664,019
RYAN CLOUSER MD TRUSTEE, AS OF 1/2024 50.0
Director
$0 $58,373 $469,101
KIMBERLY PATNAUDE TREASURER, CFO 50.0
Officer
$339,363 $44,232 $383,595
SCOTT ROBERT NELSON MD TRUSTEE, AS OF 1/2024 50.0
Director
$0 $57,369 $348,196
ANNA HANKINS MD TRUSTEE, UNTIL 12/2023 1.0
Director
$0 $51,647 $343,003
MATTHEW CHOATE VP PATIENT CARE SERVICES 50.0
Key Emp
$283,379 $43,115 $326,494
JAMES ALVAREZ VP SUPPORT SERVICES 50.0
Key Emp
$288,487 $34,477 $322,964
ROBERT ROBINSON MD PHYSICIAN 50.0
Highest
$263,334 $27,125 $290,459
HELEN HOLLENBACH PHYSICIAN ASST. 50.0
Highest
$207,000 $42,897 $249,897
BRAM STARR MD PHYSICIAN 50.0
Highest
$221,063 $26,064 $247,127
SCOTT SMALL PHYSICIAN ASST. 50.0
Highest
$203,554 $42,190 $245,744
WILLIAM KOWALEWSKI ADMIN/VP AGING SVCS WDR 50.0
Key Emp
$201,775 $14,513 $216,288
MORGAN LAMSON NURSE PRACTITIONER 50.0
Highest
$204,309 $11,974 $216,283
ROBERT PATTERSON VP HR&CLNCL OPER UNTIL 4/2023 50.0
$142,483 $14,164 $156,647
LISA MULLER TRUSTEE 1.0
Director
$0 $0 $0
THOMAS GOLONKA - TRUSTEE FRMR CHAIR (UNTIL 12/2023) 1.0
Officer Director
$0 $0 $0
JOYCE JUDY TRUSTEE, CHAIR 1.0
Officer Director
$0 $0 $0
MARY MOULTON TRUSTEE, UNTIL 6/2024 1.0
Director
$0 $0 $0
TONI KAEDING TRUSTEE, UNTIL 8/2024 1.0
Director
$0 $0 $0
SANDY ROUSSE TRUSTEE 1.0
Director
$0 $0 $0
CONSTANCE COLMAN TRUSTEE, SECRETARY 1.0
Officer Director
$0 $0 $0
PAULETTE THABAULT - TRUSTEE FRMR CHAIR (UNTIL 9/2024) 1.0
Officer Director
$0 $0 $0
JOAN MARIE MISEK TRUSTEE 1.0
Director
$0 $0 $0
CHARLES MARTEL JR TRUSTEE, UNTIL 7/2024 1.0
Director
$0 $0 $0
ERICA METZGER HARE TRUSTEE, CHAIR ELECT 1.0
Officer Director
$0 $0 $0
MICHAEL DELLIPRISCOLI TRUSTEE, AS OF 1/2024 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 $319,911,398 $323,892,362 $176,619,849 $-3,980,964
2023 $274,059,874 $290,980,110 $162,943,741 $-16,920,236
2022 $265,806,618 $277,242,044 $173,786,081 $-11,435,426
2021 $252,271,772 $247,266,580 $200,158,630 $5,005,192
2020 $237,747,468 $233,796,093 $192,238,723 $3,951,375
2019 $232,206,355 $234,241,698 $163,844,396 $-2,035,343
2018 $223,370,181 $219,261,374 $172,815,634 $4,108,807
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