CAPE COD HEALTHCARE INC

EIN: 222600704 501(c)(3) Health Care

HYANNIS, MA

Total Revenue
$162,733,699
Total Expenses
$151,986,695
Total Assets
$515,131,694
Net Assets
$293,119,205
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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
MA
Principal Officer
MICHAEL K LAUF
Phone
5087711800
Tax Period
2023-10-01 to 2024-09-30

CAPE COD HEALTHCARE INC, founded in 1984, is a major nonprofit in the Health Care sector that reported $162.7M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $152.0M left a modest 7% surplus.

Mission

CAPE COD HEALTHCARE, THE LEADING PROVIDER OF HEALTHCARE SERVICES ON CAPE COD, COORDINATES AND DELIVERS THE HIGHEST QUALITY, ACCESSIBLE HEALTH SERVICES WHICH ENHANCE THE HEALTH OF ALL CAPE COD RESIDENTS AND VISITORS. THE MISSION OF CAPE COD HEALTHCARE IS TO COORDINATE AND DELIVER THE HIGHEST QUALITY, ACCESSIBLE HEALTH SERVICES, WHICH ENHANCE THE HEALTH OF ALL CAPE COD RESIDENTS AND VISITORS.

Program Service Accomplishments

Program 1
Expenses: $124,801,785 Revenue: $150,335,142

CAPE COD HEALTHCARE (CCHC) IS THE LEADING PROVIDER OF HEALTHCARE SERVICES FOR RESIDENTS AND VISITORS OF CAPE COD. WITH MORE THAN 550 PHYSICIANS, NEARLY 5,000 EMPLOYEES AND 300 VOLUNTEERS, CAPE COD...

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CAPE COD HEALTHCARE (CCHC) IS THE LEADING PROVIDER OF HEALTHCARE SERVICES FOR RESIDENTS AND VISITORS OF CAPE COD. WITH MORE THAN 550 PHYSICIANS, NEARLY 5,000 EMPLOYEES AND 300 VOLUNTEERS, CAPE COD HEALTHCARE HAS TWO ACUTE CARE HOSPITALS, CAPE COD HOSPITAL AND FALMOUTH HOSPITAL; VNA OF CAPE COD, THE CAPE'S LEADING PROVIDER OF HOMECARE AND HOSPICE SERVICES; SIX URGENT CARE CENTERS; A PRIMARY AND SPECIALTY CARE NETWORK; A SKILLED NURSING AND REHABILITATION FACILITY (JML CARE CENTER); AN ASSISTED LIVING FACILITY (HERITAGE AT FALMOUTH); AND NUMEROUS HEALTH SERVICES AND PROGRAMS. MAJOR SERVICE AREAS INCLUDE CARDIOVASCULAR SERVICES WITH INTERVENTIONAL CARDIOLOGY SUITES FOR EMERGENCY AND ELECTIVE ANGIOPLASTY, ELECTROPHYSIOLOGY AND CARDIAC REHABILITATION; INPATIENT AND OUTPATIENT SURGERY INCLUDING CARDIAC, ORTHOPEDIC AND NEUROSURGERY; CANCER SERVICES - MEDICAL ONCOLOGY AND RADIATION THERAPY; WOMEN'S HEALTH SERVICES, INCLUDING IMAGING, MATERNITY, BREAST HEALTH AND GYNECOLOGICAL CARE; ADVANCED DIAGNOSTIC IMAGING SERVICES, INCLUDING MRI, LOW-DOSE CT, DIGITAL X-RAY, PET, ULTRASOUND AND NUCLEAR MEDICINE; A BEHAVIORAL HEALTH CENTER WITH INPATIENT AND OUTPATIENT MENTAL HEALTH AND BEHAVIORAL HEALTH SERVICES; INFECTIOUS DISEASE CLINICAL SERVICES; PHYSICAL AND OCCUPATIONAL REHABILITATION PROGRAMS THAT FEATURE CARDIAC AND PULMONARY REHABILITATION PROGRAMS. IN FY24, THE TWO HOSPITALS HAD 23,551 ADMISSIONS, 659,603 OUTPATIENT VISITS, 958 BIRTHS, 15,019 SURGERIES, AND 112,716 EMERGENCY ROOM VISITS. THE URGENT CARE CENTERS HAD 127,810 VISITS OVER THE SAME PERIOD. THROUGH ITS COMMUNITY BENEFITS INITIATIVE, CCHC IS COMMITTED TO ENHANCING THE QUALITY OF AND ACCESS TO COMPREHENSIVE HEALTHCARE SERVICES FOR ALL CAPE COD RESIDENTS. THROUGH CONTINUOUS ASSESSMENT OF COMMUNITY NEEDS, COORDINATED PLANNING AND THE ALLOCATION OF RESOURCES, THIS COMMITMENT INCLUDES A SPECIAL FOCUS ON THE UNMET NEEDS OF THE FINANCIALLY DISADVANTAGED AND UNDERSERVED POPULATIONS ON CAPE COD. FROM THE PERIOD 10/1/2023 - 9/30/2024, CCHC COMMUNITY BENEFITS PROVIDED SUPPORT TO HEALTH AND HUMAN SERVICES ORGANIZATIONS AND ADDRESSED BARRIERS TO CARE BY ADDING SUPPORTIVE CONNECTORS IN THE CONTINUUM OF CARE. WE CONTINUED TO IMPLEMENT PROGRAMS AND PARTNER WITH COMMUNITY-BASED ORGANIZATIONS TO ADDRESS THE KEY THEMES AND PRIORITIES LISTED IN THE CURRENT COMMUNITY HEALTH NEEDS ASSESSMENT (CHNA). CCHC SUPPORTED PARTNERSHIPS WITH OVER 60 LOCAL NONPROFIT HEALTH AND HUMAN SERVICE ORGANIZATIONS AND A NETWORK OF FEDERALLY QUALIFIED HEALTH CENTERS THROUGH PROJECT SUPPORT AND GRANT INVESTMENTS TO IMPROVE THE HEALTH OF BARNSTABLE COUNTY RESIDENTS. HOSPITAL STAFF DEDICATED TIME AND EXPERTISE TO STRATEGIC PARTNERSHIPS, COALITIONS, AND TASK FORCE EFFORTS LOCALLY, REGIONALLY AND ACROSS MASSACHUSETTS. THIS YEAR (FY24) REPRESENTED THE MID-WAY POINT OF OUR CURRENT CHNA. THE KEY THEMES IDENTIFIED IN THE 2023-2025 CHNA INCLUDE HEALTHCARE ACCESS, HOUSING, BEHAVIORAL HEALTH, HEALTH EQUITY, ECONOMIC STRESS AND INSTABILITY, FOOD ACCESS, TRANSPORTATION, AGING, CHRONIC DISEASE, AND COVID IMPACT. AT THE HALFWAY MARK IN THE CURRENT CHNA, CCHC HAS TARGETED MANY OF THESE NEEDS. ONE OF THE KEY ACCOMPLISHMENTS OF THIS YEAR IS SETTING AND MEETING HEALTH EQUITY COMMUNITY BENEFITS INVESTMENT GOALS. CCHC COMMUNITY BENEFITS HAS BENCHMARKS IN PLACE TO HIT EACH YEAR TO ENSURE THE FINANCIAL INVESTMENTS WE MAKE IN THE COMMUNITY ALIGN WITH THE PERCENTAGE OF THE COUNTY'S POPULATION THAT IDENTIFY AS THE FOLLOWING HISTORICALLY UNDERINVESTED GROUPS: BLACK, BRAZILIAN/HISPANIC, LGBTQ+, PEOPLE WITH DISABILITIES, AND NON-ENGLISH SPEAKING AND/OR MIGRANT INDIVIDUALS. OTHER KEY ACCOMPLISHMENTS INCLUDE PROVIDING MILLIONS OF DOLLARS IN CHARITY CARE TO THE CAPE COD COMMUNITY, AS WELL AS INCREASING THE DIVERSITY OF OUR PROGRAMS AND PARTNERSHIPS TO ENSURE WE WORK WITH A BROAD RANGE OF ORGANIZATIONS AND PARTNERS THAT ARE INCLUSIVE ALONG THE LINES OF GEOGRAPHY, SERVICE LINE, RACE AND ETHNICITY, ORGANIZATION TYPE, ETC. THESE KEY ACCOMPLISHMENTS, AS WELL AS THE MANY OTHER COMMUNITY BENEFITS ACTIVITIES CCHC CONDUCTED THIS YEAR, WERE GUIDED BY THE FY24 STRATEGIC IMPLEMENTATION PLAN (SIP). EACH YEAR, THE SIP IS PUT TOGETHER WITH INPUT AND GUIDANCE FROM CCHC LEADERSHIP, THE COMMUNITY HEALTH COMMITTEE, AND OTHER COMMUNITY STAKEHOLDERS INCLUDING BARNSTABLE COUNTY HUMAN SERVICES AND BEHAVIORAL HEALTH SPECIALISTS. IT IDENTIFIES THE PRIORITIES, POTENTIAL PARTNERS, AND GOALS AND OBJECTIVES FOR THE IMPLEMENTATION PLAN WHICH WILL BE FOLLOWED IN THE NEXT REPORTING YEAR. THE PROVISION OF COMMUNITY BENEFITS IS AN IMPORTANT COMPONENT OF CCHC'S CHARITABLE ACTIVITIES TO ENSURE CCHC REMAINS STEADFAST TO THE MISSION AND REMAINS A STEWARD OF THE VALUABLE COMMUNITY.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $385,326
Program Service Revenue $150,335,142
Investment Income $12,013,231
Other Revenue $0
TOTAL REVENUE $162,733,699

Expense Breakdown

Grants Paid $413,443
Salaries & Benefits $49,799,786
Fundraising Expenses $0
Program Expenses $124,801,785
Other Expenses $101,773,466
TOTAL EXPENSES $151,986,695

Year-over-Year Comparison

2023 2022 Change
Revenue $162,733,699 $147,583,312 +0.1%
Expenses $151,986,695 $141,737,210 +0.1%
Net Income $10,747,004 $5,846,102 +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
16
Independent Members
11
Employees
390
Volunteers
12

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
$2,912,798
Total Directors
18
$4,300,064
Key Employees
6
$2,722,878
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL K LAUF PRESIDENT/CEO/TRUSTEE 5.0
Officer Director
$1,821,543 $-186,604 $1,634,939
ALEXANDER ADDUCI MD TRUSTEE 2.0
Director
$0 $47,346 $1,280,938
LORI JEWETT CHIEF OPERATING OFFICER 5.0
Highest
$649,685 $75,636 $725,321
RICHARD SILVERIA SVP FINANCE/CFO 5.0
Officer
$621,401 $66,667 $688,068
JOHN HOSTETTER MD TRUSTEE 2.0
Director
$0 $48,196 $677,377
WILLIAM AGEL MD CHIEF MEDICAL OFFICER 5.0
Highest
$583,471 $63,978 $647,449
JOHN PAUL SOLVERSON SVP/CHIEF INFORMATION OFFICER 5.0
Key Emp
$546,119 $63,867 $609,986
MICHAEL G JONES ESQ SVP/CLO/CO-CLERK 5.0
Officer
$517,829 $71,962 $589,791
BENJAMIN LEVIN MD PHYSICIAN 0.0
$0 $45,236 $514,671
JEAN BUTLER SVP FINANCE 5.0
Key Emp
$413,144 $52,037 $465,181
CHRISTOPHER M LAWSON SVP/CHIEF DEVELOPMENT OFFICER 5.0
Key Emp
$393,224 $61,069 $454,293
MICHELLE SKARBEK VP HUMAN RESOURCES 5.0
Key Emp
$365,840 $59,545 $425,385
CARTER HUNT CHIEF OPERATING OFFICER FH 5.0
Highest
$340,025 $62,590 $402,615
CHRISTIAN BROWN SVP MANAGED CARE (UNTIL 5/24) 4.0
Key Emp
$355,402 $45,346 $400,748
ELIZABETH DUNTON VP EMPLOYED PHYSICIAN GROUP 5.0
Highest
$354,934 $26,523 $381,457
MICHAEL BACHSTEIN VP FACILITIES MANAGEMENT 5.0
Highest
$341,157 $26,603 $367,760
KUMARA D SIDHARTHA SEE SCHEDULE O 5.0
Key Emp
$341,207 $26,078 $367,285
JOSEPH GERGYES MD TRUSTEE (UNTIL 1/24) 2.0
Director
$947 $41,003 $337,668
C JEFFREY SIEGERT MD TRUSTEE (AS OF 1/24) 2.0
Director
$176,750 $63 $281,679
STEPHEN BROOKS MD TRUSTEE (AS OF 8/24) 2.0
Director
$87,463 $0 $87,463
BRUCE JOHNSTON SEE SCHEDULE O 5.0
Officer Director
$0 $0 $0
RAMANI AYER TREASURER (UNTIL 5/24)/TRUSTEE 5.0
Officer Director
$0 $0 $0
LAWRENCE CAPODILUPO TRUSTEE 2.0
Director
$0 $0 $0
SHARON KENNEDY TRUSTEE 2.0
Director
$0 $0 $0
E JAMES MULCAHY JR TRUSTEE (UNTIL 5/24) 2.0
Director
$0 $0 $0
NATHAN RUDMAN MD TRUSTEE 2.0
Director
$0 $0 $0
ROBERT TALERMAN SEE SCHEDULE O 2.0
Officer Director
$0 $0 $0
ROBERT WILSTERMAN MD TRUSTEE 2.0
Director
$0 $0 $0
KEVIN VILSAINT MD TRUSTEE 2.0
Director
$0 $0 $0
ROBIN DEVEREUX SEE SCHEDULE O 2.0
Officer Director
$0 $0 $0
LINDA TILTON GIBSON TRUSTEE 2.0
Director
$0 $0 $0
GARY SHEEHAN TRUSTEE (AS OF 5/24) 2.0
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 $162,733,699 $151,986,695 $515,131,694 $10,747,004
2023 $147,583,312 $141,737,210 $463,459,033 $5,846,102
2022 $136,489,603 $128,342,065 $423,418,157 $8,147,538
2021 $141,942,221 $127,164,508 $447,036,647 $14,777,713
2020 $116,473,308 $107,085,940 $424,302,862 $9,387,368
2019 $113,859,108 $106,556,752 $403,786,407 $7,302,356
2018 $120,248,216 $81,511,525 $397,483,660 $38,736,691
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