GENESIS HEALTHCARE SYSTEM GROUP RE… - Form 990 Financial Data

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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

Legal Domicile

Principal Officer

MATTHEW PERRY

Phone

7404545000

Tax Period

2023-01-01 to 2023-12-31

GENESIS HEALTHCARE SYSTEM GROUP RETURN is a community nonprofit in the Health Care sector that reported $2.9M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Net assets of $74.2M represent 310 months of operating reserves.

Mission

TO PROMOTE CHARITABLE SUPPORT FOR GENESIS HEALTHCARE SYSTEM AS WE SHARE ITS MISSION TO PROVIDE COMPASSIONATE, QUALITY HEALTHCARE.

Program Service Accomplishments

Program 1

Expenses: $2,195,443 Revenue: $0

THE AFFILIATES OF GENESIS HEALTHCARE SYSTEM (THE "HOSPITAL"), A 501(C)(3) ORGANIZATION, HAVE ELECTED TO BE INCLUDED IN A GROUP RETURN. HOWEVER, EACH AFFILIATE HAS SEPARATELY STATED ITS 2020 PROGRAM SERVICE ACCOMPLISHMENTS BELOW:GENESIS HEALTHCARE FOUNDATION:GENESIS HEALTHCARE FOUNDATION PROVIDES FUNDING TO GENESIS HEALTHCARE SYSTEM FOR THE NEWLY COMPLETED HOSPITAL, AS WELL AS MISCELLANEOUS MAJOR AND MINOR MEDICAL EQUIPMENT, VARIOUS PROGRAMS, AND EDUCATION. ALL OF THE ASSETS OF BETHESDA HEALTH FOUNDATION AND GOOD SAMARITAN MEDICAL CENTER FOUNDATION WERE TRANSFERRED TO GENESIS HEALTHCARE FOUNDATION IN 1999.CARESERVE:CARESERVE PROVIDED SKILLED NURSING CARE THROUGH ITS TWO FACILITIES, LOCATED IN ZANESVILLE AND MCCONNELSVILLE, UNTIL THE BEDS FROM BOTH FACILITIES AND PROPERTY FROM MCCONNELSVILLE WERE SOLD IN OCTOBER 2010. THE ZANESVILLE PROPERTY WAS LEASED TO THE NEW OWNERS UNTIL NOVEMBER OF 2013. THE NET BOOK VALUE OF THE PROPERTY WAS THEN TRANSFERRED TO GENESIS HEALTHCARE SYSTEM TO HOUSE THEIR BEHAVIORAL HEALTH SERVICES.BETHESDA HOSPITALITY SHOP:BETHESDA HOSPITALITY SHOP AND EVENTS ARE RUN BY VOLUNTEERS, USING PROCEEDS FROM SALES.

Program 2

Expenses: $23,000 Revenue: $0

PROVIDED $23,000 IN SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN HEALTHCARE IN ACCORDANCE WITH DONOR GUIDELINES.

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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 $1,054,933

Program Service Revenue $0

Investment Income $1,500,993

Other Revenue $318,145

TOTAL REVENUE $2,874,071

Expense Breakdown

Grants Paid $23,000

Salaries & Benefits $349,975

Fundraising Expenses $416

Program Expenses $2,218,443

Other Expenses $2,661,572

TOTAL EXPENSES $3,034,547

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,874,071	$3,238,277	-0.1%
Expenses	$3,034,547	$7,518,577	-0.6%
Net Income	$-160,476	$-4,280,300	-1.0%

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

Volunteers

345

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

$1,517,506

Total Directors

Key Employees

$159,874

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN ZIMMERMAN MD	BOARD CHAIR	0.80	Officer Director	$0	$0	$0
THOMAS RUGGLES MD	BOARD MEMBER	0.80	Director	$0	$0	$0
SR MAUREEN ANNE SHEPARD	BOARD MEMBER	0.80	Director	$0	$0	$0
HANNA LUBURGH-AGIN	BOARD MEMBER	0.80	Director	$0	$0	$0
RYAN DODSON	BOARD MEMBER	0.80	Director	$0	$0	$0
CHERYL DREIER	BOARD MEMBER	0.80	Director	$0	$0	$0
ERIC HOLSKY	TREASURER	0.80	Officer Director	$0	$0	$0
DEBBIE KESSLER	BOARD MEMBER	0.80	Director	$0	$0	$0
PAUL MASTERSON	BOARD MEMBER	0.80	Director	$0	$0	$0
MEGAN MCLAIN-DURST	BOARD MEMBER	0.80	Director	$0	$0	$0
ASHLEY MOYER	SECRETARY	0.80	Officer Director	$0	$0	$0
JODY SPENCER	VICE CHAIR	0.80	Officer Director	$0	$0	$0
SCOTT WEBB	BOARD MEMBER	0.80	Director	$0	$0	$0
MATTHEW PERRY	PRESIDENT/CEO	0.80	Officer	$0	$41,913	$924,588
MICHAEL NORMAN	CHIEF FINANCIAL OFFICER	0.80	Officer	$0	$42,443	$592,918
JERRY NOLDER	EXECUTIVE DIRECTOR	0.80	Key Emp	$0	$8,873	$159,874

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	$2,874,071	$3,034,547	$74,214,431	$-160,476
2022	$3,238,277	$7,518,577	$66,448,793	$-4,280,300
2021	$5,054,148	$1,347,386	$82,445,266	$3,706,762
2020	$3,949,634	$1,356,614	$69,377,986	$2,593,020
2019	$2,566,246	$1,302,195	$61,164,177	$1,264,051
2018	$2,098,449	$1,022,915	$55,153,958	$1,075,534

GENESIS HEALTHCARE SYSTEM GROUP RETURN