Concord Hospital Trust

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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

2008

Legal Domicile

Principal Officer

Robert P Steigmeyer

Phone

6032277000

Tax Period

2023-10-01 to 2024-09-30

Concord Hospital Trust, founded in 2008, is a community nonprofit in the Health Care sector that reported $8.5M in total revenue in fiscal year 2023. Revenue fell 31% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.3M, a strong 15% operating margin.

Mission

Concord Hospital Trust serves as the philanthropic arm of Concord Hospital, securing and distributing charitable gifts in accordance with donors' intent to support the Hospital's mission of meeting the health needs of individuals within the communities it serves.

Program Service Accomplishments

Program 1

Expenses: $6,078,455 Revenue: $0

Available endowment monies and funds raised through the Concord Hospital Trust's annual, planned and special gifts initiatives supported a myriad of programs and services to meet the needs of our...

Available endowment monies and funds raised through the Concord Hospital Trust's annual, planned and special gifts initiatives supported a myriad of programs and services to meet the needs of our community members. The bulk of philanthropic funds were directed toward: charitable care; operating support for numerous subsidized community benefit programs, like the Family Health Center and emergency behavioral health services; cancer care services; and medical technology and equipment.

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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 $6,311,147

Program Service Revenue $0

Investment Income $2,206,290

Other Revenue $-13,939

TOTAL REVENUE $8,503,498

Expense Breakdown

Grants Paid $5,949,471

Salaries & Benefits $0

Fundraising Expenses $849,335

Program Expenses $6,078,455

Other Expenses $1,272,167

TOTAL EXPENSES $7,221,638

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,503,498	$12,282,652	-0.3%
Expenses	$7,221,638	$16,000,656	-0.5%
Net Income	$1,281,860	$-3,718,004	-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

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

$2,749,404

Total Directors

$3,111,884

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert Steigmeyer	President & CEO, Member Ex-Officio	1.00	Officer Director	$0	$316,861	$1,901,942
Paul Racicot MD	Trustee	1.00	Director	$0	$42,992	$305,532
Regina Martin	Trustee	1.00	Director	$0	$60,225	$298,350
Suzanne Meyer	Trustee	1.00	Director	$0	$386	$22,677
Alexandru Vaida MD	Trustee	1.00	Director	$0	$75,020	$583,383
Kimberlee G Burgess Esq	Trustee	1.00	Director	$0	$0	$0
Kenneth A Deloge MD	Trustee	1.00	Director	$0	$0	$0
Charles Fanaras	Trustee	1.00	Director	$0	$0	$0
Barbara Jobin	Trustee	1.00	Director	$0	$0	$0
Manisha Patel DDS	Trustee	1.00	Director	$0	$0	$0
Marcia Moran	Trustee	1.00	Director	$0	$0	$0
Robert Segal	Trustee	1.00	Director	$0	$0	$0
Sean Skabo	Trustee	1.00	Director	$0	$0	$0
Don Welford	Trustee	1.00	Director	$0	$0	$0
Muriel Shadee CPA	Chair	1.00	Officer Director	$0	$0	$0
Steven McManis	Vice Chair	1.00	Officer Director	$0	$0	$0
Marianne Cook	Secretary	1.00	Officer Director	$0	$0	$0
Scott Sloane	Senior VP, CFO, & Treasurer	1.00	Officer	$0	$154,062	$847,462

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	$8,503,498	$7,221,638	$70,971,220	$1,281,860
2023	$12,282,652	$16,000,656	$59,052,289	$-3,718,004
2022	$11,238,250	$10,367,908	$56,794,845	$870,342
2021	$6,367,330	$5,645,124	$67,334,634	$722,206
2020	$6,155,630	$5,988,329	$55,968,255	$167,301
2019	$2,975,113	$5,401,612	$55,585,708	$-2,426,499
2018	$4,843,882	$5,908,364	$56,373,526	$-1,064,482