PASSAVANT HOSPITAL FOUNDATION

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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

1981

Legal Domicile

Principal Officer

ANTHONY R SAVANNAH

Phone

4127486640

Tax Period

2023-01-01 to 2023-12-31

PASSAVANT HOSPITAL FOUNDATION, founded in 1981, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $3.7M in total revenue in fiscal year 2023. Revenue surged 83% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.2M, a strong 60% operating margin.

Mission

THE MISSION OF PASSAVANT HOSPITAL FOUNDATION IS TO SUPPORT UPMC PASSAVANT, A STATE NONPROFIT FEDERALLY TAX-EXEMPT TERTIARY CARE HOSPITAL, BY ADVANCING HEALTH AND WELLNESS THROUGH EDUCATION, OUTREACH, AND GRANTMAKING.

Program Service Accomplishments

Program 1

Expenses: $475,676 Revenue: $13,337

DEPARTMENT GRANTS TO UPMC PASSAVANT HOSPITAL ARE AWARDED ANNUALLY BY THE FOUNDATION. THESE GRANTS BEING MADE TO THE HOSPITAL ARE FOR EQUIPMENT AND TECHNOLOGY TO IMPROVE PATIENT DIAGNOSIS, TREATMENT, COMFORT, SAFETY AND IMPROVE THE WORKING ENVIRONMENT FOR STAFF. THERE WERE SOME ADDITIONAL FUNDS USED FOR DIRECT SUPPORT OF THE HOSPITAL, INCLUDING THE RELEASE OF FUNDS FOR NURSING EDUCATION WHICH ASSISTS IN THE COST OF CONTINUING EDUCATION AND PROFESSIONAL DEVELOPMENT TO ENHANCE THE QUALITY OF CARE FOR PATIENTS. THE PATIENT ASSISTANCE FUND WAS UTILIZED TO ASSIST PATIENTS FINANCIALLY WHO WERE UNABLE TO PAY FOR NECESSARY EXPENSES WHILE PATIENTS AT UPMC PASSAVANT.

Program 2

Expenses: $251,100 Revenue: $125,550

OUTREACH PROGRAMS INCLUDED OVER 50 FREE PRESENTATIONS REACHING MORE THAN 3,500 ATTENDEES. EDUCATING THE COMMUNITY AT LARGE, THESE SESSIONS ARE INTENDED TO IMPROVE OUR COMMUNITY'S HEALTH WITH TOPICS SUCH, LUNG CANCER, TICK BORNE DISEASES, ADVANCES IN BREAST IMAGING, HEART HEALTH AND COLON CANCER AWARENESS. A FOUNDATION SPONSORED 30 DAY VIRTUAL SYMPOSIUM WAS ATTENDED BY 160 UPMC VPMA'S AND MEDICAL STAFF LEADERSHIP TITLED " MEDICAL STAFF LEADERS ORIENTATION AND TOOK KIT", HOSTED BY HORTY SPRINGER AND MATTERN. OVER 350 CANCER SURVIVORS AND THEIR FAMILIES WERE ABLE TO ENJOY A SURVIVORSHIP EVENT TOGETHER. BRIDGE TO HOPE, WHICH PROVIDES WEEKLY SUPPORT MEETINGS FOR FAMILIES WITH A LOVED ONE SUFFERING FROM ADDICTION, HAD A TOTAL ATTENDANCE OF 500 OVER TWELVE MONTHS. BEYOND BRIDGE TO HOPE, A SUPPORT GROUP FOR PEOPLE WHO HAVE LOST A LOVED ONE TO ADDICTION, HAD A TOTAL ATTENDANCE OF 101.

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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 $737,144

Program Service Revenue $138,887

Investment Income $2,947,008

Other Revenue $-85,116

TOTAL REVENUE $3,737,923

Expense Breakdown

Grants Paid $395,754

Salaries & Benefits $284,953

Fundraising Expenses $372,830

Program Expenses $726,776

Other Expenses $829,539

TOTAL EXPENSES $1,510,246

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,737,923	$2,047,364	+0.8%
Expenses	$1,510,246	$1,098,481	+0.4%
Net Income	$2,227,677	$948,883	+1.3%

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

N/A

Volunteers

170

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

$155,038

Total Directors