GRACE HOSPITAL

EIN: 340714479 501(c)(3) Health Care

CLEVELAND, OH

Total Revenue
$7,816,958
Total Expenses
$8,513,653
Total Assets
$16,859,021
Net Assets
$14,076,901
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Financial Trends

Organization Details

Formation Year
1910
Legal Domicile
OH
Principal Officer
MICHELLE HENNIS
Phone
4402043500
Tax Period
2024-07-01 to 2025-06-30

GRACE HOSPITAL, founded in 1910, is a community nonprofit in the Health Care sector that reported $7.8M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year.

Mission

TO SERVE AS A CENTER FOR EXCELLENCE IN THE PROVISION OF SPECIALIZED HEALTH CARE SERVICES AND COMFORT FOR PATIENTS AND FAMILIES COPING WITH CATASTROPHIC ILLNESS AND INJURY.

Program Service Accomplishments

Program 1
Expenses: $6,129,083 Revenue: $7,071,270

GRACE HOSPITAL IS A NON-FOR-PROFIT, LONG-TERM ACUTE CARE HOSPITAL LOCATED IN CLEVELAND, OHIO DEDICATED TO PROVIDING PERSONALIZED CARE TO MEET THE NEEDS OF PATIENTS COPING WITH CATASTROPHIC OR CHRONIC...

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GRACE HOSPITAL IS A NON-FOR-PROFIT, LONG-TERM ACUTE CARE HOSPITAL LOCATED IN CLEVELAND, OHIO DEDICATED TO PROVIDING PERSONALIZED CARE TO MEET THE NEEDS OF PATIENTS COPING WITH CATASTROPHIC OR CHRONIC INJURY OR ILLNESS REQUIRING EXTENDED HOSPITALIZATION. THE HOSPITAL WAS FOUNDED IN 1910 BY A GROUP OF PHYSICIANS WHO WERE COMMITTED TO MEETING THE HEALTHCARE NEEDS OF THE COMMUNITY. GRACE HOSPITAL HAS CONTINUOUSLY PROVIDED SERVICES FOR ITS PATIENTS. IN 1995, GRACE HOSPITAL EARNED APPROVAL TO BECOME THE FIRST CERTIFIED LONG-TERM ACUTE CARE HOSPITAL IN BOTH THE CITY OF CLEVELAND AND CUYAHOGA COUNTY. THE HOSPITAL PRESENTLY SPONSORS SEVERAL INPATIENT SERVICES INCLUDING COMPLEX MEDICAL, PULMONARY, REHABILITATION, VENTILATOR WEANING, LEFT VENTRICAL ASSIST DEVICE, TRANSPLANT SUPPORT, WOUND CARE, AND NEUROLOGICAL REHABILITATION PROGRAMS. THESE SERVICES ARE PROVIDED AT INPATIENT SATELLITES LOCATED WITHIN SOUTH POINTE AND BEDFORD HOSPITALS. GRACE HOSPITAL IS COMMITTED TO PROVIDING PERSONALIZED HEALTHCARE CHARACTERIZED BY QUALITY, ACCESSIBILITY, EFFICIENCY, AND COST EFFECTIVENESS. THE HOSPITAL IS SENSITIVE TO AGE, CULTURAL, AND ECONOMIC VARIATIONS, AND IS CONTINUOUSLY ASSESSED AND IMPROVED THROUGH A QUALITY MANAGEMENT PROGRAM. GRACE VOLUNTARILY MAINTAINS A CHARITY CARE POLICY THAT PROVIDES CARE TO INDIVIDUALS REGARDLESS OF ABILITY TO PAY. THE HOSPITAL IS ALSO COMMITTED TO EMPLOYING INDIVIDUALS TO MATCH CULTURAL DIVERSITY OF ITS PATIENT POPULATION. SEVERAL JOB POSTINGS IN THE HOSPITAL REQUIRE EMPLOYEES TO BE BILINGUAL IN EITHER SPANISH OR OTHER LANGUAGES. GRACE HOSPITAL IS INVOLVED IN MANY COMMUNITY ACTIVITIES, INCLUDING HEALTH FAIRS, SPECIAL HEALTH-RELATED PRESENTATIONS, AND SPONSORSHIPS IN HEALTHCARE EDUCATION. IN ADDITION, THE HOSPITAL SPONSORS MEETINGS FOR MANY NON-PROFIT COMMUNITY ORGANIZATIONS. THE BOARD OF DIRECTORS, MEDICAL STAFF, AND MANAGEMENT OF GRACE HOSPITAL ARE COMMITTED TO THE PROVISION OF QUALITY SPECIALTY HEALTHCARE SERVICES, AS A LONG-TERM HOSPITAL, AND FULFILLING A LEADERSHIP ROLE IN THE COMMUNITY. DESPITE CHALLENGING ECONOMIC TIMES, GRACE HOSPITAL HAS SUCCESSFULLY CONTINUED ITS ROLE OF COMMUNITY SERVICE AS ORIGINALLY ENVISIONED BY ITS FOUNDERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $606,185
Program Service Revenue $7,071,270
Investment Income $104,748
Other Revenue $34,755
TOTAL REVENUE $7,816,958

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,592,803
Fundraising Expenses $0
Program Expenses $6,129,083
Other Expenses $4,920,850
TOTAL EXPENSES $8,513,653

Year-over-Year Comparison

2024 2023 Change
Revenue $7,816,958 $8,239,176 -0.1%
Expenses $8,513,653 $8,944,227 0.0%
Net Income $-696,695 $-705,051 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
6
Employees
139
Volunteers
7

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
$173,194
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DEACON CHRISTOPHER DEPENTI SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
THOMAS COOK VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
JEFFREY L CLOSE CHAIRMAN 1.00
Officer Director
$0 $0 $0
BASEL ALTAQI MD DIRECTOR 1.00
Director
$0 $0 $0
PAUL C VENIZELOS MD DIRECTOR 1.00
Director
$0 $0 $0
GERALD L JEPPE DIRECTOR (LEFT 3/25) 1.00
Director
$0 $0 $0
REV JOSEPH D MCNULTY DIRECTOR 1.00
Director
$0 $0 $0
MICHELLE HENNIS INTERIM PRESIDENT AND CEO 40.00
Officer
$163,101 $10,093 $173,194
LASHAWNDA HUDSON STAFF NURSE 40.00
Highest
$134,905 $0 $134,905
OLEKSANDR ANDROSHCHUK STAFF NURSE 31.00
Highest
$108,461 $0 $108,461
NKEIRUKA OKEAFOR STAFF NURSE 40.00
Highest
$149,436 $0 $149,436
ALICE B SKENDER STAFF NURSE 35.00
Highest
$149,189 $10,408 $159,597
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
2025 $7,816,958 $8,513,653 $16,859,021 $-696,695
2024 $8,239,176 $8,944,227 $18,888,273 $-705,051
2023 $7,498,952 $8,590,523 $17,226,445 $-1,091,571
2022 $9,465,748 $9,414,346 $17,886,128 $51,402
2021 $11,352,470 $9,404,851 $20,904,210 $1,947,619
2020 $10,125,230 $10,267,482 $16,441,109 $-142,252
2019 $10,309,348 $11,170,908 $16,738,093 $-861,560
2018 $11,357,704 $11,812,153 $16,469,494 $-454,449
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