St Luke's Cornwall Health System F… - 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

1998

Legal Domicile

Phone

8455682881

Tax Period

2023-01-01 to 2023-12-31

St Luke's Cornwall Health System Foundation Inc, founded in 1998, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.6M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $4.7M exceeded revenue, resulting in a 80% operating deficit.

Mission

THE MISSION OF ST. LUKE'S CORNWALL HOSPITAL FOUNDATION, INC. IS TO FINANCIALLY SUPPORT HEALTHCARE INITIATIVES OF THE ST. LUKE'S CORNWALL HOSPITAL WHOSE SERVICES BENEFIT THE RESIDENTS OF THE MID-HUDSON VALLEY. THE ST. LUKE'S CORNWALL HOSPITAL FOUNDATION, INC. ACCOMPLISHES THIS MISSION BY: (1) DIRECTING DEVELOPMENT ACTIVITIES, INCLUDING INVESTMENTS TO SUPPORT CAPITAL NEEDS OF ST. LUKE'S CORNWALL HOSPIAL AND INNOVATIVE, EFFECTIVE PROGRAMS WHICH IMPROVE COMMUNITY RESIDENT'S ACCESS TO QUALITY HEALTHCARE SERVICES AND INFORMATION; AND (2) PROVIDING ADVOCACY TO ENSURE THE AVAILABILITY OF QUALITY MEDICAL CARE.

Program Service Accomplishments

Program 1

Expenses: $4,478,122 Revenue: $0

THE FOUNDATION PROVIDES FINANCIAL SUPPORT FOR HEALTHCARE INITIATIVES OF ST. LUKE'S CORNWALL HOSPITAL WHOSE SERVICES BENEFITS THE RESIDENTS OF THE MID-HUDSON VALLEY. THE FOUNDATION IS INVOLVED IN...

THE FOUNDATION PROVIDES FINANCIAL SUPPORT FOR HEALTHCARE INITIATIVES OF ST. LUKE'S CORNWALL HOSPITAL WHOSE SERVICES BENEFITS THE RESIDENTS OF THE MID-HUDSON VALLEY. THE FOUNDATION IS INVOLVED IN DEVELOPMENT ACTIVITIES TO SUPPORT THE CAPITAL NEEDS OF ST LUKE'S CORNWALL HOSPITAL, IMPROVE COMMUNITY RESIDENT'S ACCESS TO QUALITY HEALTHCARE SERVICES AND INFORMATION AND PROVIDE ADVOCACY TO ENSURE THE AVAILABILITY OF QUALITY MEDICAL CARE.

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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 $2,674,131

Program Service Revenue $0

Investment Income $11,912

Other Revenue $-53,597

TOTAL REVENUE $2,632,446

Expense Breakdown

Grants Paid $4,478,122

Salaries & Benefits $154,184

Fundraising Expenses $261,263

Program Expenses $4,478,122

Other Expenses $107,079

TOTAL EXPENSES $4,739,385

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,632,446	$2,881,648	-0.1%
Expenses	$4,739,385	$642,567	+6.4%
Net Income	$-2,106,939	$2,239,081	-1.9%

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

$1,911,560

Total Directors

$1,530,738

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	PRESIDENT & CEO	1.0	Officer Director	$0	$15,735	$862,346
N/A	VICE CHAIR	1.0	Officer Director	$0	$0	$0
N/A	IMMEDIATE PAST CHAIR	1.0	Officer Director	$0	$0	$0
N/A	SECRETARY	1.0	Officer Director	$0	$0	$0
N/A	CHAIR	1.0	Officer Director	$0	$0	$0
N/A	BOARD TREASURER/SVP & CFO	1.0	Officer Director	$0	$69,436	$668,392
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR (RESIGNED 6/1/2023)	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	EXECUTIVE DIRECTOR (ENDED 4/30/2023)	4.0	Officer	$0	$44,807	$287,002
N/A	EXECUTIVE DIRECTOR (STARTED 5/1/2023)	55.0	Officer	$0	$13,304	$93,820
N/A	FORMER OFFICER	0.0		$0	$0	$156,250

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	No data	No data	No data	No data
2023	$2,632,446	$4,739,385	$2,539,037	$-2,106,939
2022	$2,881,648	$642,567	$4,564,028	$2,239,081
2021	$1,258,174	$321,403	$2,610,187	$936,771
2020	$441,535	$728,435	$1,234,634	$-286,900
2019	$586,753	$566,880	$1,632,645	$19,873
2018	$636,893	$640,934	$1,461,277	$-4,041

St Luke's Cornwall Health System Foundation Inc