CHILDREN'S HOSPITAL MEDICAL CENTER… - 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

Formation Year

1897

Legal Domicile

Principal Officer

GORDON T EDWARDS

Phone

3305438171

Tax Period

2023-01-01 to 2023-12-31

CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON, founded in 1897, is a large national nonprofit in the Health Care sector that reported $1.4B in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $1.3B left a modest 10% surplus.

Mission

CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON ("CHMCA") IS DEDICATED TO IMPROVING THE HEALTH OF CHILDREN THROUGH QUALITY PATIENT CARE, RESEARCH & EDUCATION, COMMUNITY SERVICE, AND CHILD ADVOCACY.

Program Service Accomplishments

Program 1

Expenses: $940,451,019 Revenue: $1,300,095,952

CHMCA IS THE LARGEST PEDIATRIC HEALTHCARE SYSTEM IN NORTHEAST OHIO. IN 2023, CHMCA OPERATED TWO HOSPITAL CAMPUSES IN NORTHEAST OHIO PROVIDING INPATIENT AND OUTPATIENT SERVICES,EMERGENCY, URGENT CARE, AND PRIMARY AND SPECIALTY CARE OFFICES THROUGHOUT OHIO. DURING 2023 CHMCA DELIVERED OVER 1,270,000 PATIENT VISITS THROUGH ALL OF ITS PROGRAMS.INPATIENT SERVICES INCLUDE AREAS OF ROUTINE CARE, NEONATAL INTENSIVE CARE, PEDIATRIC INTENSIVE CARE, BEHAVIORAL HEALTH, REGIONAL BURN CENTER, HEMATOLOGY/ONCOLOGY, AND EMERGENCY/TRAUMA SERVICES. OUTPATIENT SERVICES OFFERS UNIQUE SERVICES IN A BROAD RANGE OF PEDIATRIC SUBSPECIALTIES SUCH AS NEONATOLOGY, BEHAVIORAL HEALTH,REHABILITATION SERVICES, CARDIOLOGY, PLASTIC SURGERY, GENETICS, MATERNAL FETAL MEDICINE, URGENT AND QUICK CARE, ADOLESCENT MEDICINE, PALLIATIVE CARE, PULMONARY MEDICINE, UROLOGY, OPHTHALMOLOGY, ORTHOPEDICS, NEUROLOGY, ALLERGY, DENTAL, ADDICTION SERVICES, PHYSICAL AND OCCUPATIONAL THERAPY, AND INFECTIOUS DISEASE SERVICES.

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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 $19,879,467

Program Service Revenue $1,300,095,952

Investment Income $58,479,320

Other Revenue $4,735,935

TOTAL REVENUE $1,383,190,674

Expense Breakdown

Grants Paid $758,555

Salaries & Benefits $757,528,153

Fundraising Expenses $0

Program Expenses $940,451,019

Other Expenses $493,002,013

TOTAL EXPENSES $1,251,288,721

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,383,190,674	$1,208,071,774	+0.1%
Expenses	$1,251,288,721	$1,125,930,862	+0.1%
Net Income	$131,901,953	$82,140,912	+0.6%

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

8203

Volunteers

945

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

$4,468,030

Total Directors

$4,744,976

Key Employees

$3,971,572

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK WULKAN MD	DEPARTMENT CHAIR SURGERY	50.00	Director	$1,031,053	$54,856	$1,085,909
SHEFALI MAHESH MD	PRESIDENT OF MEDICAL STAFF/CHAIR PEDIATRICS	47.00	Director	$670,697	$51,741	$722,438
ROBERT MCGREGOR MD	CHIEF MEDICAL OFFICER	48.00	Officer Director	$1,119,476	$85,679	$1,205,155
CHRISTOPHER A GESSNER	BOD/OFFICER-PRESIDENT AND CEO	47.00	Officer Director	$1,409,649	$321,825	$1,731,474
VIRGINIA ADDICOTT	CHAIR OF BOARD OF DIRECTORS	18.00	Officer Director	$0	$0	$0
SUZANNE LOCKE	SECRETARY	13.00	Officer Director	$0	$0	$0
LISA BANDWEN	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY BURKE	DIRECTOR/CHAIR FINANCE COMMITTEE	5.00	Director	$0	$0	$0
PAUL CATANIA	DIRECTOR	4.00	Director	$0	$0	$0
PATRICK COVEY	DIRECTOR	3.00	Director	$0	$0	$0
VIRGINIA DROSOS	DIRECTOR	1.00	Director	$0	$0	$0
TAMMY GERSMAN	DIRECTOR	14.00	Director	$0	$0	$0
MONTRELLA JACKSON	DIRECTOR	2.00	Director	$0	$0	$0
LISA JEFFRIES	DIRECTOR	13.00	Director	$0	$0	$0
WILLIAM KELLEHER	DIRECTOR	5.00	Director	$0	$0	$0
JOAN LAUCK	DIRECTOR	13.00	Director	$0	$0	$0
KARA LEWIS	DIRECTOR	6.00	Director	$0	$0	$0
REV LEWIS MACKLIN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN MAYER	DIRECTOR	3.00	Director	$0	$0	$0
RICHARD ROGERS	DIRECTOR	2.00	Director	$0	$0	$0
DENISE SCHAFFNER	DIRECTOR	1.00	Director	$0	$0	$0
GLEN STEPHENS	DIRECTOR	3.00	Director	$0	$0	$0
BARBARA VARLEY	DIRECTOR	16.00	Director	$0	$0	$0
DARREN WELLS	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT WELLS	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT BERK	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
PAUL DUTTON	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
WILLIAM HOPKINS	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
MICHELLE LUECKE	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
STEPHEN E MYERS	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
JOHN C ORR	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
MARGARET L STALTER	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
SHELLEY TAYLOR	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
GORDON EDWARDS	BOD/OFFICER-CHIEF FINANCIAL OFFICER AND TREASURER	45.00	Officer	$789,672	$85,889	$875,561
KIMBERLY MOSES	CHIEF LEGAL OFFICER	50.00	Officer	$86,559	$4,246	$90,805
ANTHEA DANIELS	BOD/OFFICER ASST SECRETARYAND CHIEF LEGAL OFFICER	44.00	Officer	$556,297	$8,738	$565,035
MICHAEL BIGHAM MD	CHIEF QUALITY OFFICER	48.00	Key Emp	$594,622	$142,179	$736,801
RHONDA LARIMORE	CHIEF HUMAN RESOURCES OFFICER	50.00	Key Emp	$472,325	$126,716	$599,041
SHAWN LYDEN	CHIEF STRATEGY OFFICER	48.00	Key Emp	$828,662	$167,523	$996,185
LISA AURILIO	CHIEF OPERATING OFFICER	49.00	Key Emp	$788,243	$154,582	$942,825
KERWYN JONES MD	PEDIATRIC ORTHOPEDIC SURGEON	50.00	Key Emp	$635,869	$60,851	$696,720
KATHERINE WOLFE MD	CHIEF MATERIAL FETAIL MED SVS	50.00	Highest	$1,004,880	$52,019	$1,056,899
ROBERT STEWART MD	DIRECTOR CARDIOTHORACIC SURGERY	50.00	Highest	$1,014,080	$55,429	$1,069,509
ABDELAZIZ SALEH MD	PERINATOLOGIST	50.00	Highest	$979,056	$52,957	$1,032,013
TSULEE CHEN MD	DIRECTOR NEUROSURGERY	49.00	Highest	$976,894	$56,494	$1,033,388
ANJAY KHANDELWAL MD	DIR BURN SURGERY	50.00	Highest	$1,051,847	$23,597	$1,075,444

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	$1,383,190,674	$1,251,288,721	$2,212,338,485	$131,901,953
2022	$1,208,071,774	$1,125,930,862	$1,981,794,990	$82,140,912
2021	$1,186,366,453	$1,022,527,147	$2,008,652,850	$163,839,306
2020	$994,852,188	$925,616,553	$1,822,056,911	$69,235,635
2019	$1,014,517,498	$907,476,554	$1,672,516,693	$107,040,944
2018	$909,275,642	$841,219,240	$1,422,952,377	$68,056,402

CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON