CHARLES COLE MEMORIAL HOSPITAL

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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

1967

Legal Domicile

Principal Officer

JANIE HILFIGER

Phone

8142749300

Tax Period

2021-07-01 to 2022-06-30

CHARLES COLE MEMORIAL HOSPITAL, founded in 1967, is a major nonprofit in the Health Care sector that reported $108.7M in total revenue in fiscal year 2021. Expenses of $101.4M left a modest 7% surplus.

Mission

CHARLES COLE MEMORIAL HOSPITAL'S (UPMC COLE) MISSION IS TO SERVE THE SURROUNDING RURAL COMMUNITIES BY PROVIDING QUALITY PATIENT CARE AND IMPROVING THE QUALITY OF LIFE FOR ALL PATIENTS.

Program Service Accomplishments

Program 1

Expenses: $27,177,515 Revenue: $64,321,716

UPMC COLE OFFERS OUTPATIENT SERVICES, EXCEEDING 373,000 TESTS/TREATMENTS ANNUALLY THROUGHOUT THE HOSPITAL'S FOUR-COUNTY AREA AND INCLUDING IMAGING, LAB, CARDIO-PULMONARY, ONCOLOGY, HOME HEALTH, WOUND CARE AND REHABILITATION SERVICES. OUTPATIENT SURGERIES EXCEED 4,600 ANNUALLY. THE UPMC HILLMAN CANCER CENTER PROVIDES SPECIALTY ONCOLOGY SERVICES AND ADDITIONAL SUPPORTIVE SERVICES FOR PATIENTS AND THEIR FAMILIES. SEE SCHEDULE O FOR DETAIL.

Program 2

Expenses: $26,662,467 Revenue: $16,153,357

UPMC COLE PROVIDES PRIMARY CARE TO THE SURROUNDING COMMUNITIES IN FOUR COUNTIES AT RURAL HEALTH CENTERS(RHCS), LOCATED IN COUDERSPORT, GALETON, ULYSSES, WESTFIELD, SHINGLEHOUSE, PORT ALLEGANY...

UPMC COLE PROVIDES PRIMARY CARE TO THE SURROUNDING COMMUNITIES IN FOUR COUNTIES AT RURAL HEALTH CENTERS(RHCS), LOCATED IN COUDERSPORT, GALETON, ULYSSES, WESTFIELD, SHINGLEHOUSE, PORT ALLEGANY, ELDRED, SMETHPORT, AND EMPORIUM. COLLECTIVELY, 102,400 PATIENT VISITS WERE REPORTED LAST YEAR IN ADDITION TO 11,700 DENTAL VISITS. FOUR OF THOSE LOCATIONS ALSO INCLUDE WELLNESS AND REHABILITATION CENTERS, MAKING IT MORE CONVENIENT FOR PATIENTS TO RECEIVE THE SERVICES AND CARE THEY NEED CLOSE TO HOME. SEE SCHEDULE O FOR DETAIL.

Program 3

Expenses: $14,440,271 Revenue: $17,744,220

UPMC COLE OFFERS VARIOUS INPATIENT SERVICES. UPMC COLE ADMITTED 1,260 ACUTE PATIENTS LAST YEAR (5,050 ACUTE CARE DAYS) TO INPATIENT SERVICES INCLUDING MEDICAL/SURGICAL, INTENSIVE CARE AND OBSTETRICS UNITS. UPMC COLE'S 24-HOUR EMERGENCY DEPARTMENT ADMITTED 880 PATIENTS LAST YEAR AND HAD 9,970 VISITS LAST YEAR. THE HOSPITAL'S MATERNITY UNIT WELCOMED 129 BABIES INTO THE WORLD LAST YEAR AND ALSO SUPPORTS MOTHERS-TO-BE WITH BREASTFEEDING SUPPORT PROGRAMS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $1,464,838

Program Service Revenue $107,005,582

Investment Income $359,493

Other Revenue $-128,849

TOTAL REVENUE $108,701,064

Expense Breakdown

Grants Paid $20,000

Salaries & Benefits $51,919,507

Fundraising Expenses $0

Program Expenses $90,192,847

Other Expenses $49,453,959

TOTAL EXPENSES $101,393,466

Year-over-Year Comparison

	2021	2020	Change
Revenue	$108,701,064	$104,969,077	+0.0%
Expenses	$101,393,466	$104,584,622	0.0%
Net Income	$7,307,598	$384,455	+18.0%

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

619

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

$1,691,079

Total Directors

$2,971,744

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN P JOHNSON	DIRECTOR	1.0	Director	$0	$132,926	$1,201,693
TERRANCE FOUST DO	PHYSICIAN	40.0	Highest	$855,027	$64,193	$919,220
BRADLEY GIANNOTTI MD	PHYSICIAN	40.0	Highest	$851,353	$56,114	$907,467
DAVID J LOPATOFSKY MD	DIRECTOR/VICE CHAIR END 12/21	1.0	Officer Director	$0	$124,256	$843,076
SAKET PRASAD MD	PHYSICIAN	40.0	Highest	$651,567	$68,337	$719,904
JEREMY REED MD	PHYSICIAN	40.0	Highest	$465,644	$39,015	$504,659
MARIBETH MCLAUGHLIN	DIRECTOR	1.0	Director	$0	$56,100	$502,664
ETHAN GABLE MD	PHYSICIAN	40.0	Highest	$433,196	$23,565	$456,761
JANIE HILFIGER	PRESIDENT/CEO	47.0	Officer	$0	$34,303	$317,105
PATRICIA JACKSON-GEHRIS	PRES UPMC NCPA BEGIN 06/22	40.0	Officer	$0	$26,386	$293,518
EDWARD PITCHFORD	PRESIDENT/CEO	0.0		$0	$0	$292,699
RON RAPP	CHIEF FINANCIAL OFFICER	47.0	Officer	$188,464	$48,916	$237,380
MARY ANN RIGAS MD	DIRECTOR	1.0	Director	$179,239	$39,713	$218,952
CARRIE ENNIS	DIRECTOR	1.0	Director	$0	$27,582	$205,359
ALANNA HUCK	SECRETARY/VICE CHAIR BEG 12/21	1.0	Officer Director	$0	$0	$0
MICHAEL CALLAHAN DO	DIRECTOR	1.0	Director	$0	$0	$0
MELYNDA BUDD	DIRECTOR/TREASURER BEG 12/21	1.0	Officer Director	$0	$0	$0
PATRICK LARSEN	DIRECTOR	1.0	Director	$0	$0	$0
CHARLES UPDEGRAFF	CHAIR/DIRECTOR END 09/21	1.0	Officer Director	$0	$0	$0
JOHN LEETE	TREASURER/CHAIR BEG 12/21	1.0	Officer Director	$0	$0	$0
ELIZABETH WALLACE	DIRECTOR	1.0	Director	$0	$0	$0
JOSHUA COSTA	DIRECTOR BEGIN 03/22	1.0	Director	$0	$0	$0
MATTHEW SPLAIN	DIRECTOR BEGIN 03/22	1.0	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
2022	$108,701,064	$101,393,466	$68,147,041	$7,307,598
2021	$104,969,077	$104,584,622	$66,801,913	$384,455
2020	$103,981,889	$98,097,934	$72,649,035	$5,883,955
2019	$99,812,391	$96,321,142	$79,772,691	$3,491,249
2018	$99,242,096	$96,650,452	$45,615,938	$2,591,644