Rush University Medical Center (EIN 362174823) - Form 990 Financial Analysis & Trantor Score

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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

1883

Legal Domicile

Phone

3129425000

Tax Period

2023-07-01 to 2024-06-30

Rush University Medical Center, founded in 1863, is a large national nonprofit in the Health Care sector that reported $2.0B in total revenue in fiscal year 2017. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $1.8B left a modest 9% surplus.

Mission

The mission of Rush is to improve the health of the individuals and diverse communities we serve through the integration of outstanding patient care, education, research and community partnerships.

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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 $65,929,236

Program Service Revenue $2,447,910,266

Investment Income $208,731,779

Other Revenue $277,484,469

TOTAL REVENUE $3,000,055,750

Expense Breakdown

Grants Paid $16,908,637

Salaries & Benefits $1,449,831,578

Fundraising Expenses $13,093,735

Program Expenses $2,612,320,720

Other Expenses $1,321,976,866

TOTAL EXPENSES $2,788,845,401

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,000,055,750	$2,664,946,106	+0.1%
Expenses	$2,788,845,401	$2,591,162,936	+0.1%
Net Income	$211,210,349	$73,783,170	+1.9%

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

15426

Volunteers

1870

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

$30,654,169

Total Directors

$207,589

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Susan Crown	Trustee/Chair	2.0	Officer Director	$0	$0	$0
Andrew J Mills	Trustee	1.0	Director	$0	$0	$0
Ann W Cohn EdD	Trustee	1.0	Director	$0	$0	$0
Barbara Jil Wu PhD	Trustee	1.0	Director	$0	$0	$0
Bradley J Henderson	Trustee	1.0	Director	$0	$0	$0
Brian T McCormack	Trustee	1.0	Director	$0	$0	$0
Carl W Stern	Trustee	1.0	Director	$0	$0	$0
Carole Browe Segal	Trustee	1.0	Director	$0	$0	$0
Christine A Edwards	Trustee/Vice Chair (Start 5/24)	1.0	Director	$0	$0	$0
Darrel H Hackett	Trustee	1.0	Director	$0	$0	$0
David C Habiger	Trustee	1.0	Director	$0	$0	$0
David H B Smith Jr	Trustee	1.0	Director	$0	$0	$0
Eric A Reeves	Trustee	1.0	Director	$0	$0	$0
Francis O Idehen Jr	Trustee	1.0	Director	$0	$0	$0
James W DeYoung	Trustee	1.0	Director	$0	$0	$0
Jennifer W Steans	Trustee	1.0	Director	$0	$0	$0
Joan E Steel	Trustee	1.0	Director	$0	$0	$0
Joan S Rubschlager	Trustee	1.0	Director	$0	$0	$0
John J Sabl	Trustee	1.0	Director	$0	$0	$0
John Segreti MD	Trustee/Ex Officio (End 6/24)	1.0	Director	$176,842	$30,747	$207,589
Karen Jaffee Cofsky	Trustee	1.0	Director	$0	$0	$0
Kenneth H M Leet	Trustee	1.0	Director	$0	$0	$0
Kip Kirkpatrick	Trustee	1.0	Director	$0	$0	$0
Matthew J Boler	Trustee	1.0	Director	$0	$0	$0
Nicole J Walker	Trustee (Start 7/23)	1.0	Director	$0	$0	$0
Pamela Forbes Lieberman	Trustee	1.0	Director	$0	$0	$0
Paul W Theiss	Trustee	1.0	Director	$0	$0	$0
Peter M Ellis	Trustee	1.0	Director	$0	$0	$0
Robert A Wislow	Trustee/Ex Officio	1.0	Director	$0	$0	$0
Robert F Finke	Trustee	1.0	Director	$0	$0	$0
Sam Yagan	Trustee	1.0	Director	$0	$0	$0
Sandra P Guthman	Trustee	1.0	Director	$0	$0	$0
Sheila A Penrose	Trustee	1.0	Director	$0	$0	$0
Shundrawn A Thomas	Trustee	1.0	Director	$0	$0	$0
Stephen N Potter	Trustee	1.0	Director	$0	$0	$0
Stephen R Quazzo	Trustee	1.0	Director	$0	$0	$0
Wayne L Moore	Trustee	1.0	Director	$0	$0	$0
Wendy Herb	Trustee/Ex Officio	1.0	Director	$0	$0	$0
William A Mynatt Jr	Trustee	1.0	Director	$0	$0	$0
William J Hagenah	Trustee	1.0	Director	$0	$0	$0
Alex D Wiggins	VP, Chief Investment Officer & Treasurer	40.0	Officer	$650,491	$128,340	$778,831
Andrew Bean PhD	Vice Provost, Research (Acting) (End 10/23)	40.0	Officer	$443,814	$336,432	$780,246
Aney Abraham DNP RN NE-BC	VP Patient Care Services (End 12/23)	40.0	Officer	$335,249	$84,038	$419,287
Angelique Richard PhD RN CENP	SVP Hospital Operations, CNO (End 4/24)	40.0	Officer	$896,171	$856,120	$1,752,291
Brian D Stein MD MS	Chief Quality Officer	28.0	Officer	$608,560	$111,556	$720,116
Carl T Bergetz JD	SVP Legal Affairs & General Counsel	40.0	Officer	$890,137	$169,621	$1,059,758
Charlotte Royeen PhD	VP & Dean College of Health Sciences (End 12/23)	40.0	Officer	$437,598	$90,674	$528,272
Chris Gade	VP Marketing & Engagement (End 12/23)	40.0	Officer	$425,104	$431,431	$856,535
Christine Kennedy PhD RN	VP & Dean College of Nursing	40.0	Officer	$572,020	$97,070	$669,090
Courtney L Kammer MHA	SVP Human Resources	40.0	Officer	$721,300	$161,225	$882,525
Cynthia Brincat MD PhD	Interim Dean, Rush Medical College	40.0	Officer	$1,062,321	$159,808	$1,222,129
Cynthia E Boyd MD	VP and Chief Compliance Officer (End 12/23)	40.0	Officer	$515,920	$76,981	$592,901
Dale Grandlic	VP Facilities Management (End 12/23)	40.0	Officer	$352,365	$86,281	$438,646
David A Ansell MD	SVP Community Health Equity (End 12/23)	40.0	Officer	$862,730	$162,846	$1,025,576
Denise N Szalko	VP Revenue Cycle	40.0	Officer	$576,085	$105,297	$681,382
Deval Daily	VP and Chief Admin Officer, Neuro-Cardiac SL (End 12/23)	40.0	Officer	$402,329	$98,371	$500,700
Dino P Rumoro DO MPH FACEP	President & CEO ROPH (End 12/23)	12.0	Officer	$203,552	$175,701	$935,016
Douglas O'Brien	VP Public Policy (End 12/23)	40.0	Officer	$356,254	$91,223	$447,477
Janet Stifter PhD RN CPHQ	VP Hospital Operations - Periop and Interv (End 12/23)	40.0	Officer	$427,855	$78,260	$506,115
Jason S Turner PhD MAE	Interim Dean, College of Health Sciences (Start 12/23)	40.0	Officer	$273,728	$48,399	$322,127
Jeffrey M Gautney	VP & Chief Information Officer	40.0	Officer	$722,211	$160,712	$882,923
Jeremy E Strong	VP Supply Chain	40.0	Officer	$347,269	$93,143	$440,412
Kathryn H Jones	SVP & Chief Strategy Officer	40.0	Officer	$437,060	$88,311	$525,371
Kelly M Sullivan JD	Deputy General Counsel (End 12/23)	40.0	Officer	$420,167	$58,397	$478,564
Kerem Korkmaz MSN RN CENP	VP Patient Care Services (End 12/23)	40.0	Officer	$329,233	$52,421	$381,654
Larry J Goodman MD	Interim President Rush University (End 3/24)	40.0	Officer	$847,359	$30,695	$878,054
Matt Walsh	System EVP & Chief Operating Officer (Start 1/24)	40.0	Officer	$0	$0	$0
Mitchell Evans	VP Internal Audit (End 12/23)	40.0	Officer	$463,354	$96,328	$559,682
Murray T Ancell MS CFRE	SVP & Chief Development Officer	40.0	Officer	$591,529	$111,775	$703,304
Omar B Lateef DO	President & CEO	40.0	Officer	$3,687,548	$476,520	$4,164,068
Patricia S O'Neil MAE	SVP & System CFO	40.0	Officer	$1,163,275	$208,664	$1,371,939
Paul Casey MD MBA FACEP	SVP & Chief Medical Officer	40.0	Officer	$872,323	$194,641	$1,066,964
Peter Briechle PhD	VP Programs and Services, Philanthropy (End 12/23)	40.0	Officer	$435,779	$84,965	$520,744
Philip Quick	VP RUMG Access Center (End 12/23)	40.0	Officer	$285,221	$80,698	$365,919
Quincy M Stanley	VP Support Services (End 12/23)	40.0	Officer	$399,066	$88,558	$487,624
Richa Gupta MBBS MHSA	SVP & COO, RUMG	40.0	Officer	$665,949	$137,958	$803,907
Robert S D Higgins MD MSHA	President & Chief Academic Officer, Rush University (Start 4/24)	40.0	Officer	$0	$0	$0
Rukiya Curvey Johnson	VP Community Health Equity (End 12/23)	40.0	Officer	$259,089	$43,391	$302,480
Shannon Driscoll	VP RUMG Practice Operations (End 12/23)	40.0	Officer	$283,136	$42,169	$325,305
Sherri Boyle CPA MBA MSF	VP Corporate Finance & Financial Operations (Start 12/23)	40.0	Officer	$243,062	$34,904	$277,966
Shonda Morrow JD MS RN	VP Patient Care Services (End 12/23)	40.0	Officer	$404,744	$74,063	$478,807
Thomas P Wick	VP Individual Giving, Philanthropy (End 12/23)	40.0	Officer	$428,912	$90,550	$519,462
K Ranga Rama Krishnan MB ChB	Executive Vice Chairman & Advisor to CEO	40.0	Highest	$1,866,385	$48,019	$1,914,404
Keith C Hood MD	Physician	40.0	Highest	$1,257,741	$44,939	$1,302,680
Michael Liptay MD	Chairperson Cardiovascular/Thoracic Surgery	40.0	Highest	$1,498,964	$70,624	$1,569,588
Richard Byrne MD	Physician	40.0	Highest	$1,581,311	$60,932	$1,642,243
Robert J March MD	Physician	40.0	Highest	$1,523,781	$0	$1,523,781
Hiten M Patel PhD	Former Officer	0.0		$436,008	$15,979	$451,987
Joshua Jacobs MD	Former Officer	0.0		$595,839	$50,780	$646,619
Sherine E Gabriel MD MSc	Former Officer	0.0		$880,461	$28,846	$909,307
Susan L Freeman MD MS	Former Officer	0.0		$719,604	$120,004	$839,608
Thomas Deutsch MD	Former Officer	0.0		$459,677	$54,384	$514,061
Wayne E Keathley MPH	Former Officer	0.0		$913,818	$136,260	$1,050,078

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	No data	No data	No data	No data
2024	$3,000,055,750	$2,788,845,401	$4,702,251,786	$211,210,349
2023	$2,664,946,106	$2,591,162,936	$4,544,022,146	$73,783,170
2022	$2,591,581,148	$2,388,546,504	$4,341,724,683	$203,034,644
2021	$2,430,858,288	$2,245,348,373	$4,534,803,183	$185,509,915
2020	$2,129,968,938	$2,206,271,524	$4,025,213,121	$-76,302,586
2019	$2,117,967,270	$1,997,276,594	$3,456,334,013	$120,690,676
2018	$1,978,966,560	$1,803,317,731	$3,298,337,910	$175,648,829

Rush University Medical Center