MIDDLESEX HEALTH SYSTEM INC (EIN 222676137) - Form 990 Financial Analysis & Trantor Score

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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

1895

Legal Domicile

Principal Officer

VINCENT CAPECE JR

Phone

8603586395

Tax Period

2023-10-01 to 2024-09-30

MIDDLESEX HEALTH SYSTEM INC, founded in 1895, is a small nonprofit in the Health Care sector that reported $995K in total revenue in fiscal year 2023. Expenses of $1.7M exceeded revenue, resulting in a 66% operating deficit.

Mission

PARENT OF AND PROVIDES FUNDRAISING FOR MIDDLESEX HOSPITAL. (CONTINUED ON SCHEDULE O)THE ORGANIZATION IS THE PARENT COMPANY OF MIDDLESEX HOSPITAL AND ITS AFFILIATED ENTITIES AND ALSO PROVIDES FUNDRAISING SERVICES TO THE EXEMPT ORGANIZATIONS, WHICH WERE ESTABLISHED TO PROVIDE HIGH QUALITY HEALTH SERVICES TO THE COMMUNITY.

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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 $0

Program Service Revenue $995,357

Investment Income $0

Other Revenue $0

TOTAL REVENUE $995,357

Expense Breakdown

Grants Paid $0

Salaries & Benefits $677,107

Fundraising Expenses $0

Program Expenses $1,644,236

Other Expenses $977,797

TOTAL EXPENSES $1,654,904

Year-over-Year Comparison

	2023	2022	Change
Revenue	$995,357	$994,467	+0.0%
Expenses	$1,654,904	$1,633,458	+0.0%
Net Income	$-659,547	$-638,991	+0.0%

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

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

$2,557,704

Total Directors

$1,792,786

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VINCENT CAPECE JR	PRESIDENT/CEO	1.00	Officer Director	$0	$327,312	$1,792,786
CHANDLER J HOWARD	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
JONATHAN D LEVINE MD	SECRETARY	1.00	Officer Director	$0	$0	$0
MARK D LORENZE	ASST. SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID C BENOIT	DIRECTOR	1.00	Director	$0	$0	$0
JEAN M D'AQUILA	DIRECTOR	1.00	Director	$0	$0	$0
JOHN J GAUTHIER	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT C HINTON	DIRECTOR	1.00	Director	$0	$0	$0
DARRELL G PATASKA	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CHRISTINE H REPASY	DIRECTOR	1.00	Director	$0	$0	$0
GARY M WALLACE	DIRECTOR	1.00	Director	$0	$0	$0
MARK BERTOLAMI	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH G JUDD	DIRECTOR (JOINED 6/2024)	1.00	Director	$0	$0	$0
SUSAN MARTIN	VP FINANCE/TREASURER	1.00	Officer	$0	$68,827	$764,918
SARAH MOORE	DIR FUND DEVELOPMENT	40.00	Highest	$211,785	$16,625	$228,410
LAURA MARTINO LEFT 122022	VP MARKETING & DEVELOPMENT	0.00		$0	$151,713	$521,979

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	$995,357	$1,654,904	$14,592	$-659,547
2023	$994,467	$1,633,458	$14,592	$-638,991
2022	$972,284	$1,598,408	$14,592	$-626,124
2021	$1,137,148	$1,761,924	$14,592	$-624,776
2020	$1,083,608	$1,707,419	$14,592	$-623,811
2019	$1,060,389	$1,674,981	$14,592	$-614,592
2018	$1,064,536	$1,667,646	$14,592	$-603,110

MIDDLESEX HEALTH SYSTEM INC