South Shore Hospital Corporation

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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

1976

Legal Domicile

Phone

7733565312

Tax Period

2023-01-01 to 2023-12-31

South Shore Hospital Corporation, founded in 1976, is a mid-sized nonprofit in the Health Care sector that reported $46.8M in total revenue in fiscal year 2023.

Mission

South Shore Hospital Corporation is a not-for-profit hospital dedicated to providing the highest quality of healthcare possible to the south shore community.

Program Service Accomplishments

Program 1

Expenses: $35,177,597 Revenue: $32,906,708

THE HOSPITAL IS AN ACUTE CARE FACILITY PROVIDING SERVICES TO ALL PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. THE HOSPITAL PROVIDES CARE TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS CHARITY CARE POLICY AT NO CHARGE OR AT AMOUNTS LESS THAN ITS ESTABLISHED RATES. THE CHARGES FORGONE FOR SERVICES AND SUPPLIES FURNISHED UNDER ITS CHARITY CARE POLICY DURING THE YEAR ENDED DECEMBER 31, 2023 APPROXIMATED $332,248. IN ADDITION TO CHARITY CARE, THE HOSPITAL ALSO OFFERS OTHER COMMUNITY BENEFITS SUCH AS PROVIDING MENTORS AND VOLUNTEERS, AND IT ALSO SPONSORS HEALTH FAIRS THROUGHOUT THE COMMUNITY. EMPLOYEES OF THE HOSPITAL PARTICIPATE IN A MENTORING PROGRAM FOR CHILDREN WITHIN THE COMMUNITY. THE PROGRAM'S GOAL IS TO MOTIVATE STUDENTS TO COMPLETE THEIR HIGH SCHOOL EDUCATION WITH AN EMPHASIS ON THE OVERALL IMPORTANCE OF EDUCATION AND PRE-EMPLOYMENT PREPARATION.

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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 $13,863,791

Program Service Revenue $32,833,438

Investment Income $0

Other Revenue $81,085

TOTAL REVENUE $46,778,314

Expense Breakdown

Grants Paid $0

Salaries & Benefits $28,742,223

Fundraising Expenses $0

Program Expenses $35,177,597

Other Expenses $19,901,508

TOTAL EXPENSES $48,643,731

Year-over-Year Comparison

	2023	2022	Change
Revenue	$46,778,314	$47,039,828	0.0%
Expenses	$48,643,731	$47,695,905	+0.0%
Net Income	$-1,865,417	$-656,077	+1.8%

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

452

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

$493,004

Total Directors

$344,133

Key Employees

$157,061

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Director/Vice Chairman (effective Nov 2023)	10.0	Officer Director	$0	$0	$0
N/A	Vice Chairman (through Nov 2023)/Director	10.0	Officer Director	$0	$0	$0
N/A	President and CEO	40.0	Officer Director	$325,193	$18,940	$344,133
N/A	Vice President/Secretary	10.0	Officer Director	$0	$0	$0
N/A	Chairman of the board (through Nov 2023)	10.0	Officer Director	$0	$0	$0
N/A	Chairman of the Board (effective Nov 2023)/Treasurer	10.0	Officer Director	$0	$0	$0
N/A	Director	10.0	Director	$0	$0	$0
N/A	Director	60.0	Director	$0	$0	$0
N/A	Director	10.0	Director	$0	$0	$0
N/A	Director	10.0	Director	$0	$0	$0
N/A	Director	10.0	Director	$0	$0	$0
N/A	Director	10.0	Director	$0	$0	$0
N/A	Director	10.0	Director	$0	$0	$0
N/A	Assistant Secretary	40.0	Officer	$130,419	$18,452	$148,871
N/A	Chief Operating Officer - COO	40.0	Key Emp	$157,061	$0	$157,061
N/A	Registered Nurse	40.0	Highest	$207,143	$0	$207,143
N/A	Registered Nurse	40.0	Highest	$189,166	$0	$189,166
N/A	Registered Nurse	40.0	Highest	$224,360	$11,213	$235,573
N/A	Charge Nurse	40.0	Highest	$204,260	$0	$204,260
N/A	Director of Lab	40.0	Highest	$204,414	$24,220	$228,634

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	$46,778,314	$48,643,731	$17,170,293	$-1,865,417
2022	$47,039,828	$47,695,905	$18,381,938	$-656,077
2022	$47,039,828	$47,695,905	$18,381,938	$-656,077
2021	$45,664,309	$45,109,519	$14,559,161	$554,790
2021	$44,544,665	$46,552,059	$16,996,532	$-2,007,394
2020	$46,724,553	$44,274,266	$19,530,712	$2,450,287