GRIFFIN HOSPITAL DEVELOPMENT FUND … - Form 990 Financial Data

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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

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

TO ASSIST GRIFFIN HOSPITAL'S GOAL OF PROVIDING MEDICAL AND HOSPITAL CARE, MEDICAL EDUCATION AND MEDICAL RESEARCH TO THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $710,340

GRIFFIN HOSPITAL DEVELOPMENT FUND ATTRACTS SUPPORT AND RAISES FUNDS FOR THE GRIFFIN HOSPITAL TO MAINTAIN ITS REPUTATION AS A CENTER OF MEDICAL EXCELLENCE IN HUMANISTIC HEALTHCARE. IT PROVIDES...

GRIFFIN HOSPITAL DEVELOPMENT FUND ATTRACTS SUPPORT AND RAISES FUNDS FOR THE GRIFFIN HOSPITAL TO MAINTAIN ITS REPUTATION AS A CENTER OF MEDICAL EXCELLENCE IN HUMANISTIC HEALTHCARE. IT PROVIDES ORGANIZATIONS AND COMMUNITY MEMBERS WITH OPPORTUNITIES FOR GIVING THAT MAKE MEANING OF THEIR EXPERIENCES AND VALUES. IT ALSO DEVELOPS POSITIVE RELATIONSHIPS TO CREATE GOODWILL THROUGH DONOR PROGRAMS, GIVING OPPORTUNITIES, SPECIAL EVENTS, DONOR PUBLICATIONS, AND PERSONAL VISITS.

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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 $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

Governance

Voting Members

Independent Members

Employees

N/A

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

$1,185,875

Total Directors

$1,010,141

Key Employees

Highest Compensated

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

GRIFFIN HOSPITAL DEVELOPMENT FUND INC