TUFTS MEDICAL CENTER GROUP RETURN

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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

Principal Officer

ANDREW DEVOE

Phone

6176365000

Tax Period

2023-10-01 to 2024-09-30

TUFTS MEDICAL CENTER GROUP RETURN is a large national nonprofit that reported $1.4B in total revenue in fiscal year 2023.

Mission

WE STRIVE TO HEAL, TO COMFORT, TO TEACH, TO LEARN, AND TO SEEK THE KNOWLEDGE TO PROMOTE HEALTH AND PREVENT DISEASE. OUR PATIENTS AND THEIR FAMILIES ARE AT THE CENTER OF EVERYTHING WE DO. WE DEDICATE OURSELVES TO FURTHERING OUR RICH TRADITION OF HEALTH CARE INNOVATION, LEADERSHIP, CHARITY AND THE HIGHEST STANDARD OF CARE TO ALL IN OUR COMMUNITY. TO PROVIDE LONG-TERM CARE FOR CHILDREN WHO ARE SEVERELY MENTALLY HANDICAPPED AND/OR MULTIPLY PHYSICALLY HANDICAPPED.

Program Service Accomplishments

Program 1

Expenses: $1,063,537,783 Revenue: $1,261,416,087

TUFTS MEDICAL CENTER, INC. LOCATED IN BOSTON, MA OPERATES A 415 BED ACUTE-CARE GENERAL HOSPITAL ESTABLISHED TO PROVIDE HEALTHCARE SERVICES PRIMARILY IN THE GREATER BOSTON AREA, WHICH ALSO ATTRACTS...

TUFTS MEDICAL CENTER, INC. LOCATED IN BOSTON, MA OPERATES A 415 BED ACUTE-CARE GENERAL HOSPITAL ESTABLISHED TO PROVIDE HEALTHCARE SERVICES PRIMARILY IN THE GREATER BOSTON AREA, WHICH ALSO ATTRACTS PATIENTS FROM ELSEWHERE IN NEW ENGLAND AND BEYOND.NEW ENGLAND LONG-TERM CARE, INC. OPERATES AN 80 BED NURSING HOME SPECIALIZING IN THE CARE OF CHILDREN WHO ARE SEVERELY MENTALLY HANDICAPPED AND/OR PHYSICALLY HANDICAPPED.

Program 2

Expenses: $38,670,492 Revenue: $518,029

TUFTS MEDICAL CENTER, INC. ADMINISTERS PROGRAMS FOR APPROXIMATELY 453 INDIVIDUALS: 268 RESIDENTS, 74 INTERNS AND 111 FELLOWS IN 43 SPECIALTIES AND SUB-SPECIALTIES WHO ROTATE TO APPROXIMATELY 47...

TUFTS MEDICAL CENTER, INC. ADMINISTERS PROGRAMS FOR APPROXIMATELY 453 INDIVIDUALS: 268 RESIDENTS, 74 INTERNS AND 111 FELLOWS IN 43 SPECIALTIES AND SUB-SPECIALTIES WHO ROTATE TO APPROXIMATELY 47 HOSPITALS AND OTHER ORGANIZATIONS LOCATED PRIMARILY IN THE GREATER BOSTON AREA.

Program 3

Expenses: $11,450,735 Revenue: $379,974

TUFTS MEDICAL CENTER, INC. ENGAGES IN RESEARCH ACTIVITIES FUNDED BY GRANTS AND CONTRACTS FOR U.S. GOVERNMENT AGENCIES AND OTHER PRIVATE SOURCES.

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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 $93,715,996

Program Service Revenue $1,262,314,090

Investment Income $22,550,953

Other Revenue $1,030,209

TOTAL REVENUE $1,379,611,248

Expense Breakdown

Grants Paid $0

Salaries & Benefits $591,270,928

Fundraising Expenses $3,119,066

Program Expenses $1,113,659,010

Other Expenses $790,041,158

TOTAL EXPENSES $1,381,312,086

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,379,611,248	$1,300,641,648	+0.1%
Expenses	$1,381,312,086	$1,323,156,428	+0.0%
Net Income	$-1,700,838	$-22,514,780	-0.9%

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

7982

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

$6,013,909

Total Directors

$9,447,967

Key Employees

$1,006,062

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HELEN BOUCHER MD	TRUSTEE	1.00	Director	$0	$0	$0
MARGARET BROWN ESQ	TRUSTEE	1.00	Director	$0	$0	$0
GERALD COHEN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL DANDORPH	TRUSTEE	1.00	Officer Director	$0	$359,711	$2,085,861
KAREN FREUND MD	TRUSTEE	1.00	Director	$0	$57,687	$652,575
STANLEY GOLDSTEIN	TRUSTEE	1.00	Director	$0	$0	$0
JASON HALL	TRUSTEE	1.00	Director	$0	$822	$914,939
MARVIN A KONSTAM MD	TRUSTEE (UNTIL 2/24)	1.00	Director	$0	$57,687	$745,595
BRIAN KAVOOGIAN	CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
PAUL NASSER	TRUSTEE	1.00	Director	$0	$0	$0
EMMA REEVE	TRUSTEE (UNTIL 2/24)	1.00	Director	$0	$0	$0
REGINA ROCKEFELLER	TRUSTEE	1.00	Director	$0	$0	$0
MARK ROSEN	TRUSTEE/VICE CHAIR (UNTIL 2/24)	1.00	Director	$0	$0	$0
JEFF SHAMES	TRUSTEE (UNTIL 2/24)	1.00	Director	$0	$0	$0
MICHAEL TARNOFF MD	CEO/TRUSTEE (UNTIL 3/24)	1.00	Officer Director	$1,193,833	$196,769	$1,390,602
ERIKA WERNER	TRUSTEE	1.00	Director	$0	$34,407	$724,834
ASSAD SIDDIQI	SVP/TREASURER (UNTIL 7/24)	1.00	Officer Director	$439,812	$67,900	$507,712
THERESE HUDSON-JINKS	SENIOR VP & CNO	40.00	Director	$492,208	$73,947	$566,155
ANDREW DEVOE	TREASURER	1.00	Officer Director	$0	$0	$0
ANN LOUISE PUOPOLO	TRUSTEE	1.00	Director	$0	$0	$0
GAUTAM SHRIKHANDE MD	TRUSTEE	1.00	Director	$0	$0	$0
PHIL OKALA	TRUSTEE/INTERIM PRESIDENT/COO	1.00	Officer Director	$0	$16,258	$1,137,502
REZA VAGEFI MD	TRUSTEE	1.00	Director	$0	$18,041	$722,192
ZACHARY REDMOND ESQ	SECRETARY	39.00	Officer	$0	$70,149	$669,412
LAUREN RIPLEY ESQ	ASSISTANT SECRETARY	1.00	Officer	$0	$12,727	$222,820
DIANA RICHARDSON	SENIOR VP & COO (UNTIL 3/24)	40.00	Key Emp	$888,036	$118,026	$1,006,062
ERIK GARPESTAD	CMO/SVP MEDICAL STAFF	40.00	Highest	$673,230	$24,968	$698,198
SARAH MCKAY	VP OF PATIENT CARE	40.00	Highest	$430,587	$76,946	$507,533
KARA GREER	SVP CHIEF TALENT OFFICER	40.00	Highest	$522,818	$74,694	$597,512
DOUGLAS CIVIELLO	CHIEF PERFUSIONIST	40.00	Highest	$415,785	$36,471	$452,256
NANCY WEATHERBEE	DIRECTOR OF RESEARCH	40.00	Highest	$397,419	$12,028	$409,447
DEEB N SALEM MD	FORMER TRUSTEE	0.00		$0	$27,646	$201,758
PAUL SUMMERGRAD MD	FORMER TRUSTEE	1.00		$0	$57,022	$417,694
F CLARISSA YANG	FORMER TRUSTEE	0.00		$0	$35,187	$740,167
JEFFREY WEINSTEIN	FORMER TRUSTEE	0.00		$0	$0	$601,188
NIOBIS DEL CARMEN QUEIRO	FORMER KEY EMPLOYEE	0.00		$0	$2,081	$518,109

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	$1,379,611,248	$1,381,312,086	$965,407,026	$-1,700,838
2023	$1,300,641,648	$1,323,156,428	$1,132,376,673	$-22,514,780
2022	$1,159,688,990	$1,269,612,025	$939,808,476	$-109,923,035
2021	$1,213,600,470	$1,076,105,831	$1,224,233,367	$137,494,639
2020	$1,060,495,385	$1,020,720,026	$1,246,969,068	$39,775,359
2019	$1,014,827,874	$979,577,370	$944,608,833	$35,250,504
2018	$943,103,338	$912,802,312	$850,185,949	$30,301,026