St Vincent's Medical Center Foundation Inc

EIN: 222558132 501(c)(3) Health Care

Bridgeport, CT

Total Revenue
$4,245,572
Total Expenses
$2,027,853
Total Assets
$50,035,227
Net Assets
$40,241,594
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
CT
Principal Officer
William Jennings
Phone
8606963563
Tax Period
2023-10-01 to 2024-09-30

St Vincent's Medical Center Foundation Inc, founded in 1984, is a community nonprofit in the Health Care sector that reported $4.2M in total revenue in fiscal year 2023. Revenue surged 137% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.2M, a strong 52% operating margin.

Mission

St. Vincent's Medical Center Foundation's primary purpose is to raise funds in order to help meet certain financial needs of the St. Vincent's Health Services Corporation. The Foundation's goal is to create and perpetuate financial support for programs and services on behalf of St. Vincent's historic mission to serve the poor and medically underserved populations. The growing support for St. Vincent's throughout the region is a reflection of our mission-driven programs and the quality of our services.

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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 $0
Program Service Revenue $0
Investment Income $4,245,572
Other Revenue $0
TOTAL REVENUE $4,245,572

Expense Breakdown

Grants Paid $1,703,352
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,703,352
Other Expenses $324,501
TOTAL EXPENSES $2,027,853

Year-over-Year Comparison

2023 2022 Change
Revenue $4,245,572 $1,794,977 +1.4%
Expenses $2,027,853 $1,947,238 +0.0%
Net Income $2,217,719 $-152,261 -15.6%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
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
3
$4,283,937
Total Directors
4
$5,772,353
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
William Jennings Director and Chair 2.00
Officer Director
$0 $191,193 $1,665,318
Jeffrey Cohen Director and President (eff 4/2024) 2.00
Officer Director
$0 $85,698 $1,531,039
Michael Daglio Director and President (Thru 04/2024) 2.00
Director
$0 $188,591 $1,488,416
Gerald Boisvert Director and Treasurer 2.00
Officer Director
$0 $66,316 $1,087,580
Vincent DiBattista Former Director and CEO (Thru 7/21) 0.00
$0 $0 $20,312
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 $4,245,572 $2,027,853 $50,035,227 $2,217,719
2023 $1,794,977 $1,947,238 $42,184,723 $-152,261
2022 $1,442,980 $2,148,075 $37,176,667 $-705,095
2021 $2,548,614 $2,499,793 $44,898,008 $48,821
2020 $2,430,521 $6,351,721 $41,169,944 $-3,921,200
2019 $4,401,254 $5,154,249 $38,344,112 $-752,995
2018 $6,979,435 $6,735,243 $48,406,433 $244,192
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