VIRTUA WILLINGBORO HOSPITAL INC

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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

Principal Officer

DENNIS W PULLIN

Phone

8563550620

Tax Period

2023-01-01 to 2023-12-31

VIRTUA WILLINGBORO HOSPITAL INC, founded in 1998, is a major nonprofit in the Health Care sector that reported $121.7M in total revenue in fiscal year 2023.

Mission

WE ARE DEDICATED TO PROVIDING EACH PATIENT AND THEIR FAMILY WITH AN OUTSTANDING EXPERIENCE AND ENSURING THE HIGHEST QUALITY HEALTHCARE FOR THE COMMUNITY. WE ARE COMMITTED TO PROVIDING OUR HEALTHCARE TEAM WITH RESOURCES, TECHNOLOGY AND TRAINING, AS WELL AS WITH OPPORTUNITIES FOR PROFESSIONAL GROWTH.

Program Service Accomplishments

Program 1

Expenses: $32,889,246 Revenue: $21,969,191

UNREIMBURSED MEDICAID - VIRTUA PROVIDED CARE TO MANY COMMUNITY MEMBERS THAT ARE INSURED UNDER MEDICAL ASSISTANCE PROGRAMS, INCLUDING THE STATE ADMINISTERED MEDICAID PROGRAM. REIMBURSEMENT FOR THESE PROGRAMS IS LESS THAN THE COST OF THE SERVICE PROVIDED BY APPROXIMATELY $10.9 MILLION, AS ESTIMATED BY MANAGEMENT. SERVICES ARE PROVIDED ON BOTH AN INPATIENT AND OUTPATIENT BASIS, INCLUDING THROUGH EMERGENCY DEPARTMENTS AND CLINICS.

Program 2

Expenses: $11,431,520 Revenue: $8,008,567

SUBSIDIZED HEALTH SERVICES - VIRTUA WILLINGBORO IS WELL-REGARDED FOR ITS BEHAVIORAL HEALTH PROGRAM, INCLUDING PSYCHIATRIC CRISIS SERVICES AND A COMPLETE RANGE OF SERVICE FOR PATIENTS WHO NEED TO BE HOSPITALIZED, INCLUDING LIVING SPRINGS AT LOURDES, A UNIQUE VOLUNTARY INPATIENT PROGRAM DESIGNED TO ACCOMMODATE THE BEHAVIORAL HEALTH NEEDS OF OUR SERVICEMEN AND WOMEN, VETERANS, SPOUSES AND ADULT DEPENDENTS.

Program 3

Expenses: $3,225,213 Revenue: $1,604,973

CHARITY CARE - UNDER THE GUIDANCE OF ITS COMMUNITY BASED BOARD OF TRUSTEES AND THE SUPPORT OF THE PHYSICIANS ON ITS OPEN MEDICAL STAFF, VIRTUA WILLINGBORO HOSPITAL PROVIDES MEDICALLY NECESSARY...

CHARITY CARE - UNDER THE GUIDANCE OF ITS COMMUNITY BASED BOARD OF TRUSTEES AND THE SUPPORT OF THE PHYSICIANS ON ITS OPEN MEDICAL STAFF, VIRTUA WILLINGBORO HOSPITAL PROVIDES MEDICALLY NECESSARY SERVICES TO INDIVIDUALS IRRESPECTIVE OF THEIR ABILITY TO PAY. PROGRAMS ARE IN PLACE TO IDENTIFY AND PROVIDE FINANCIAL ASSISTANCE TO THOSE IN NEED. SOME PATIENTS WILL QUALIFY FOR CHARITY CARE ASSISTANCE UNDER STATE OF NEW JERSEY DEFINED ELIGIBILITY CRITERIA. VIRTUA WILLINGBORO HOSPITAL AUGMENTS THE STATE'S PROGRAM WITH ITS OWN ASSISTANCE PROGRAM FOR WHICH THE CRITERIA IS LESS RESTRICTIVE THAN THAT OF THE STATE PROGRAM, PROVIDING ASSISTANCE TO INDIVIDUALS EARNING UP TO 500% OF THE FEDERAL POVERTY GUIDELINES. MANAGEMENT ESTIMATES THE TOTAL COST OF CHARITY CARE PROVIDED DURING 2023 TO BE APPROXIMATELY $1.6 MILLION.

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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 $11,510

Program Service Revenue $121,358,104

Investment Income $31,208

Other Revenue $315,263

TOTAL REVENUE $121,716,085

Expense Breakdown

Grants Paid $0

Salaries & Benefits $56,838,584

Fundraising Expenses $0

Program Expenses $105,262,065

Other Expenses $66,461,955

TOTAL EXPENSES $123,300,539

Year-over-Year Comparison

	2023	2022	Change
Revenue	$121,716,085	$115,960,034	+0.0%
Expenses	$123,300,539	$112,960,149	+0.1%
Net Income	$-1,584,454	$2,999,885	-1.5%

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

865

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

$5,666,093

Total Directors

$5,493,768

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENNIS W PULLIN END 73123	PRESIDENT/CEO	0.10	Officer Director	$0	$57,766	$3,487,539
JOHN M MATSINGER	EVP/COO	0.00		$0	$56,571	$1,598,426
ROBERT M SEGIN END 73123	TREASURER - EVP/CFO	0.10	Officer	$0	$44,861	$1,282,262
LAUREN ROWINSKI END 73123	SECRETARY-SVP & CHIEF LEGAL OFF.	0.10	Officer	$0	$42,031	$896,292
RHONDA R SHEPPARD-JORDAN	TRUSTEE-EVP & HR OFF (START 8/1/23)	0.10	Director	$0	$48,285	$905,052
HAFEZA SHAIKH START 8123	TRUSTEE - DESIGNEE OF MED STAFF PRESIDENT	0.10	Director	$0	$57,766	$577,157
JOHN J KIRBY START 8123	TRUSTEE - HOSPITAL PRESIDENT	0.10	Director	$0	$57,579	$524,020
LISA C FERRARO	SVP-CHIEF QUALITY SAFETY RISK OFF.	0.00		$0	$41,798	$479,692
MELISSA L ZAK END 42923	VP CNO-MHBC & WILLINGBORO HOSP.	0.00		$0	$17,205	$175,909
JUSTINE LOMBARDI	REGISTERED NURSE	40.00	Highest	$322,803	$18,144	$340,947
ERIC AGBAGBEY	REGISTERED NURSE	40.00	Highest	$247,786	$50,005	$297,791
DENNIS HUNTER	AVP PATIENT CARE SERVICES	40.00	Highest	$215,427	$49,615	$265,042
DEBRA KRICHLING	DIRECTOR PHARMACY	40.00	Highest	$220,312	$11,947	$232,259
CORAZON L RAGASA	REGISTERED NURSE	40.00	Highest	$201,000	$22,980	$223,980
EDWARD CLOUES END 73123	CHAIR	0.10	Officer Director	$0	$0	$0
MALIK MAJEED ESQ	TRUSTEE - CHAIR (START 8/1/23)	0.10	Officer Director	$0	$0	$0
JAMES DWYER DO END 73123	VICE CHAIR	0.10	Officer Director	$0	$0	$0
PATRICIA CODEY END 73123	TRUSTEE	0.10	Director	$0	$0	$0
ELAINE DAMM END 73123	TRUSTEE	0.10	Director	$0	$0	$0
LESLIE DONATO END 73123	TRUSTEE	0.10	Director	$0	$0	$0
DAMIEN GHEE START 13123	TRUSTEE (END 7/31/23)	0.10	Director	$0	$0	$0
GRAYLING JOHNSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
SANIAH JOHNSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
PRATAP KHEDKAR END 73123	TRUSTEE	0.10	Director	$0	$0	$0
DAVID KINDLICK END 73123	TRUSTEE	0.10	Director	$0	$0	$0
GEORGE LYNN END 73123	TRUSTEE	0.10	Director	$0	$0	$0
FAYE MELOY END 73123	TRUSTEE	0.10	Director	$0	$0	$0
JOHN PARKER END 73123	TRUSTEE	0.10	Director	$0	$0	$0
ADOLFO PIPERNO END 73123	TRUSTEE	0.10	Director	$0	$0	$0
STACY ROBINSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
MARVIN SAMSON END 73123	TRUSTEE	0.10	Director	$0	$0	$0
CHARLES VILA END 73123	TRUSTEE	0.10	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	No data	No data	No data	No data
2023	$121,716,085	$123,300,539	$92,395,494	$-1,584,454
2022	$115,960,034	$112,960,149	$87,833,491	$2,999,885
2021	$110,694,930	$104,226,852	$89,579,299	$6,468,078
2020	$112,069,403	$110,260,704	$82,138,667	$1,808,699
2019	$133,688,453	$139,855,958	$27,963,389	$-6,167,505
2018	$128,719,053	$130,883,078	$29,170,993	$-2,164,025