Hartford HealthCare Corporation

EIN: 222672834 501(c)(3) Health Care

Hartford, CT

Total Revenue
$707,622,846
Total Expenses
$749,842,723
Total Assets
$3,399,077,069
Net Assets
$783,513,222
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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
CT
Principal Officer
Jeffrey A Flaks
Phone
8606966220
Tax Period
2023-10-01 to 2024-09-30

Hartford HealthCare Corporation, founded in 1985, is a major nonprofit in the Health Care sector that reported $707.6M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year.

Mission

Hartford HealthCare's mission is to improve the health and healing of the people and communities it serves.

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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 $722,645,895
Investment Income $-1,223,297
Other Revenue $-13,799,752
TOTAL REVENUE $707,622,846

Expense Breakdown

Grants Paid $0
Salaries & Benefits $383,332,322
Fundraising Expenses $0
Program Expenses $729,656,943
Other Expenses $366,510,401
TOTAL EXPENSES $749,842,723

Year-over-Year Comparison

2023 2022 Change
Revenue $707,622,846 $748,124,959 -0.1%
Expenses $749,842,723 $764,236,101 0.0%
Net Income $-42,219,877 $-16,111,142 +1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
13
Employees
3424
Volunteers
13

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
14
$18,377,342
Total Directors
16
$4,083,578
Key Employees
20
$19,428,279
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jeffrey Flaks Director, President & CEO 40.00
Officer Director
$4,010,591 $72,987 $4,083,578
Bimal Patel EVP 60.00
Officer
$2,377,375 $70,326 $2,447,701
Khalid Abbed MD SVP 60.00
Key Emp
$1,898,243 $74,404 $1,972,647
Chibueze Agba EVP 60.00
Officer
$1,699,330 $235,578 $1,934,908
Sabet Hashim MD SVP 30.00
Key Emp
$0 $46,390 $1,817,164
William Jennings SVP 20.00
Key Emp
$1,474,125 $191,193 $1,665,318
Jeffrey Cohen MD EVP 60.00
Officer
$1,445,341 $85,698 $1,531,039
Michael Daglio EVP 20.00
Officer
$1,299,825 $188,591 $1,488,416
Tracy Church EVP 60.00
Officer
$1,389,309 $70,458 $1,459,767
Ajay Kumar MD EVP 60.00
Officer
$1,176,455 $183,792 $1,360,247
John Santopietro SVP 20.00
Key Emp
$1,233,667 $77,391 $1,311,058
James Cardon MD EVP 40.00
Officer
$1,132,125 $65,492 $1,197,617
Rocco Orlando III MD SVP 60.00
Highest
$1,037,392 $85,981 $1,123,373
Steven Shichman MD Physician-in-Chief Urology 60.00
Highest
$1,033,191 $83,095 $1,116,286
Peter Yu MD SVP 60.00
Key Emp
$1,033,137 $76,083 $1,109,220
Joel Vengco SVP 60.00
Highest
$940,049 $164,095 $1,104,144
Gerald Boisvert SVP 50.00
Key Emp
$1,021,264 $66,316 $1,087,580
David Mack EVP 60.00
Officer
$919,556 $163,141 $1,082,697
Donna Handley SVP 20.00
Key Emp
$903,338 $75,283 $978,621
Mark Alberts MD SVP 60.00
Key Emp
$889,019 $75,341 $964,360
Karen Goyette EVP 60.00
Officer
$802,820 $152,015 $954,835
Richard Stys SVP 60.00
Key Emp
$856,423 $70,722 $927,145
Gary Havican SVP 20.00
Key Emp
$763,568 $136,812 $900,380
MaryEllen Kosturko EVP 60.00
Officer
$724,131 $112,406 $836,537
Patricia Hasselman SVP 60.00
Highest
$696,601 $51,371 $747,972
Padmanabhan Premkumar MD SVP 20.00
Key Emp
$605,449 $128,185 $733,634
Eric Smullen SVP 20.00
Key Emp
$655,388 $72,288 $727,676
Milrose Mercado SVP 60.00
Key Emp
$668,671 $57,268 $725,939
Barry Stein VP 60.00
Highest
$645,712 $68,485 $714,197
Gerard Lupacchino SVP 60.00
Key Emp
$633,110 $51,458 $684,568
Wendy Elberth SVP 60.00
Key Emp
$623,605 $45,248 $668,853
Cynthia Pugliese SVP 60.00
Key Emp
$588,760 $72,738 $661,498
James O'Dea MD SVP 20.00
Key Emp
$576,408 $64,726 $641,134
Cheryl Ficara SVP 20.00
Key Emp
$587,440 $48,941 $636,381
Kristi Gafford SVP 60.00
Key Emp
$535,495 $84,845 $620,340
Wheatley Wentzell SVP 60.00
Key Emp
$488,247 $106,516 $594,763
Cynthia Heller Former Key Employee 0.00
$0 $43,222 $594,652
David Holmgren Former Highest Compensated Employee 0.00
$590,775 $0 $590,775
Mark Prete Former Officer 0.00
$357,682 $21,952 $379,634
Paul Thompson MD Former Key Employee 0.00
$0 $21,669 $331,226
Elliot Joseph Former Director & CEO 0.00
$107,216 $0 $107,216
Vincent DiBattista Former Key Employee 0.00
$20,312 $0 $20,312
Richard Shirey Former Key Employee 0.00
$16,208 $0 $16,208
Daniel McIntyre Former Key Employee 0.00
$11,023 $0 $11,023
Rosemary Sheehan EVP 60.00
Officer
$0 $0 $0
Donald Allan Jr Director 2.00
Director
$0 $0 $0
Greg Barats Director 2.00
Director
$0 $0 $0
Francisco Borges Director 2.00
Director
$0 $0 $0
Gregory Butler Director 2.00
Director
$0 $0 $0
Greg Deavens Director (Thru June 2024) 2.00
Director
$0 $0 $0
Helene Glotzer Director (Thru June 2024) 2.00
Director
$0 $0 $0
Yvette Melendez Director 2.00
Director
$0 $0 $0
Judy Olian Director 2.00
Director
$0 $0 $0
Kola Olofinboba Director 2.00
Director
$0 $0 $0
John Petillo Director 2.00
Director
$0 $0 $0
Patricia Roberts MD Director 2.00
Director
$0 $0 $0
Eric Rosow Director 2.00
Director
$0 $0 $0
Joseph Voelker Director 2.00
Director
$0 $0 $0
Joanne Berger-Sweeney Chair 3.00
Officer Director
$0 $0 $0
Gregory Toczydlowski Vice Chair 3.00
Officer 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 $707,622,846 $749,842,723 $3,399,077,069 $-42,219,877
2023 $748,124,959 $764,236,101 $3,060,147,543 $-16,111,142
2022 $674,949,590 $694,223,465 $3,057,768,933 $-19,273,875
2021 $551,640,424 $669,698,187 $2,668,436,051 $-118,057,763
2020 $544,528,886 $589,676,656 $2,327,797,727 $-45,147,770
2020 $544,528,886 $589,676,656 $2,327,797,727 $-45,147,770
2019 $419,246,803 $433,737,321 $2,012,085,823 $-14,490,518
2018 $383,741,962 $392,837,867 $1,720,044,788 $-9,095,905
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