GRIFFIN HOSPITAL DEVELOPMENT FUND INC

EIN: 222560254 501(c)(3)

DERBY, CT

Total Revenue
$2,132,650
Total Expenses
$846,684
Total Assets
$12,424,446
Net Assets
$12,301,957
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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
PATRICK A CHARMEL
Phone
2037357421
Tax Period
2023-10-01 to 2024-09-30

GRIFFIN HOSPITAL DEVELOPMENT FUND INC, founded in 1984, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2023. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 60% operating margin.

Mission

ASSIST GRIFFIN HOSPITAL IN THE PROVISION OF MEDICAL & HOSPITAL CARE, MEDICAL EDUCATION & RESEARCH.

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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 $1,979,440
Program Service Revenue $0
Investment Income $331,004
Other Revenue $-177,794
TOTAL REVENUE $2,132,650

Expense Breakdown

Grants Paid $244,892
Salaries & Benefits $258,601
Fundraising Expenses $0
Program Expenses $710,340
Other Expenses $343,191
TOTAL EXPENSES $846,684

Year-over-Year Comparison

2023 2022 Change
Revenue $2,132,650 $1,497,343 +0.4%
Expenses $846,684 $952,492 -0.1%
Net Income $1,285,966 $544,851 +1.4%
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

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Governance

Voting Members
6
Independent Members
5
Employees
N/A
Volunteers
6

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
5
$1,185,875
Total Directors
7
$1,010,141
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PATRICK A CHARMEL CEO/PRESIDENT, SECRETARY/TREASURER 0.15
Officer Director
$0 $40,515 $1,010,141
MAUREEN COFFEY DIRECTOR 0.15
Director
$0 $0 $0
NANCY DINARDO DIRECTOR 0.15
Director
$0 $0 $0
EDWARD J MCCREERY III ESQ CHAIRMAN (TILL 1/1/24) 0.15
Officer Director
$0 $0 $0
WILLIAM MIS DIRECTOR 0.15
Director
$0 $0 $0
FREDERICK STANEK ESQ CHAIRMAN 0.15
Officer Director
$0 $0 $0
JOHN W BETKOSKI III DIRECTOR 0.15
Director
$0 $0 $0
JANET HALL EXECUTIVE DIRECTOR (TILL 12/31/23) 40.00
Officer
$0 $19,785 $175,734
KRISTY JELENIK EXECUTIVE DIRECTOR (AS OF 8/12/24) 40.00
Officer
$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 $2,132,650 $846,684 $12,424,446 $1,285,966
2023 $1,497,343 $952,492 $10,786,678 $544,851
2022 $2,383,261 $2,507,032 $9,011,801 $-123,771
2021 $1,825,107 $2,803,676 $10,527,481 $-978,569
2020 $1,301,972 $1,453,656 $10,154,750 $-151,684
2019 $2,298,393 $1,333,932 $9,322,987 $964,461
2018 $1,672,965 $2,037,313 $9,067,573 $-364,348
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