HOLY NAME EMS

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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

2010

Legal Domicile

Principal Officer

MICHAEL MARON

Phone

2018337016

Tax Period

2023-01-01 to 2023-12-31

HOLY NAME EMS, founded in 2010, is a community nonprofit that reported $5.6M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $7.6M exceeded revenue, resulting in a 36% operating deficit.

Mission

HOLY NAME EMS ("HN EMS"), AS PART OF THE LOCAL, COUNTY, AND STATE EMERGENCY RESPONSE SYSTEM, IS A 24/7 SERVICE RESPONDING TO INCIDENTS OCCURRING BOTH WITHIN AND OUTSIDE THE IMMEDIATE REGION. THE SERVICE WORKS CLOSELY WITH HOLY NAME MEDICAL CENTER, INC., WHICH IS THE NEW JERSEY STATE MEDICAL COORDINATION CENTER FOR NORTHEASTERN NEW JERSEY. IN ADDITION, HN EMS HAS ALSO ESTABLISHED AGREEMENTS WITH THE NJ STATE URBAN AREA SECURITY INITIATIVE (UASI) AND NJ EMS TASK FORCE TO PROVIDE PERSONNEL AND ASSISTANCE WHEREVER REQUIRED. HN EMS INVOLVES BOTH BASIC (EMT) AND ADVANCED LIFE SUPPORT STAFF (PARAMEDIC) AND WORKS CLOSELY WITH LOCAL POLICE, FIRE AND VOLUNTEER AMBULANCE SQUADS TO ENSURE A COORDINATED APPROACH TO THE TREATMENT AND TRANSPORTATION.

Program Service Accomplishments

Program 1

Expenses: $6,656,214 Revenue: $5,598,683

EXPENSES INCURRED IN SUPPORTING THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF HOLY NAME MEDICAL CENTER, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT HOSPITAL ORGANIZATION...

EXPENSES INCURRED IN SUPPORTING THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF HOLY NAME MEDICAL CENTER, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT HOSPITAL ORGANIZATION, WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY.

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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 $0

Program Service Revenue $5,598,683

Investment Income $0

Other Revenue $0

TOTAL REVENUE $5,598,683

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,391,119

Fundraising Expenses $0

Program Expenses $6,656,214

Other Expenses $2,211,340

TOTAL EXPENSES $7,602,459

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,598,683	$4,568,970	+0.2%
Expenses	$7,602,459	$5,930,022	+0.3%
Net Income	$-2,003,776	$-1,361,052	+0.5%

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

121

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

$3,323,313

Total Directors

$3,156,982

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Maron	Trustee - President & CEO HNMC	55.0	Officer Director	$0	$55,995	$2,402,083
Ryan Kennedy CPA	EVP/CFO, Assist. SEC/TREAS	55.0	Officer	$0	$164,696	$921,230
Randy Tartacoff MD	Trustee	55.0	Director	$0	$21,075	$323,285
David Butler MD	Trustee	55.0	Director	$0	$24,295	$221,832
Maureen C Donohue	Trustee	55.0	Director	$0	$20,965	$209,782
James Fox	DIRECTOR OF EMS	55.0	Highest	$124,823	$52,115	$176,938
Derek R Tesauro	Emergency Medical Tech	55.0	Highest	$144,072	$13,703	$157,775
Eric Frielink	Paramedic	55.0	Highest	$127,687	$14,030	$141,717
Shannon Vassallo	Emergency Medical Tech	55.0	Highest	$121,400	$12,168	$133,568
John J Economou	Paramedic	55.0	Highest	$116,074	$2,602	$118,676
Joseph A Frascino MD	Chairperson - Trustee	1.0	Officer Director	$0	$0	$0
Fernando Garip	Vice Chairperson - Trustee	1.0	Officer Director	$0	$0	$0
John M Geraghty	Secretary - Trustee	1.0	Officer Director	$0	$0	$0
Ted A Carnevale CPA	Treasurer - Trustee	1.0	Officer Director	$0	$0	$0
Angelica Berrie	Trustee	1.0	Director	$0	$0	$0
Stephen Borg	Trustee	1.0	Director	$0	$0	$0
Dale A Creamer	Trustee	1.0	Director	$0	$0	$0
James Dowling	Trustee	1.0	Director	$0	$0	$0
Michael R Dressler Esq	Trustee	1.0	Director	$0	$0	$0
Sister Susan Francois	Trustee	1.0	Director	$0	$0	$0
Alexandra Garcia-Watts	Trustee	1.0	Director	$0	$0	$0
Daniel Leber	Trustee	1.0	Director	$0	$0	$0
Margarette Lee Esq	Trustee	1.0	Director	$0	$0	$0
Selwyn Levine MD	Trustee	1.0	Director	$0	$0	$0
Sister Antoinette Moore CSJP	Trustee	1.0	Director	$0	$0	$0
Paul Baker	TRUSTEE (TERM 3/31/23)	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
2024	No data	No data	No data	No data
2023	$5,598,683	$7,602,459	$1,493,910	$-2,003,776
2022	$4,568,970	$5,930,022	$1,546,677	$-1,361,052
2021	$4,304,413	$4,558,091	$1,503,738	$-253,678
2020	$3,798,596	$4,404,813	$1,105,424	$-606,217
2019	$3,357,542	$3,792,149	$992,671	$-434,607
2018	$3,604,734	$3,709,577	$490,807	$-104,843