Silver Cross Hospital and Medical Centers

EIN: 362174832 501(c)(3) Health Care

New Lenox, IL

Total Revenue
$587,807,527
Total Expenses
$530,964,628
Total Assets
$1,143,623,821
Net Assets
$511,283,344
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1895
Legal Domicile
IL
Principal Officer
Vincent Pryor
Phone
8153007007
Tax Period
2023-10-01 to 2024-09-30

Silver Cross Hospital and Medical Centers, founded in 1895, is a major nonprofit in the Health Care sector that reported $587.8M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $531.0M left a modest 10% surplus.

Mission

To establish, conduct, maintain and operate hospitals and community medical centers and to furnish other facilities for the care of persons suffering from illnesses or injury.

Program Service Accomplishments

Program 1
Expenses: $504,733,550 Revenue: $534,989,758

Provision of inpatient and outpatient health care services. Hospital inpatient and observation days for the time period covered by this return totaled 111,425. Total patients served totaled 274,676.

Program 2
Expenses: $805,886 Revenue: $291,741

Community education programs, health professional education programs, student internships, support groups and support of free community clinic.

Program 3
Expenses: $113,768 Revenue: $43,580

Health screenings and women's and children's 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,636,661
Program Service Revenue $535,325,079
Investment Income $44,632,643
Other Revenue $6,213,144
TOTAL REVENUE $587,807,527

Expense Breakdown

Grants Paid $199,265
Salaries & Benefits $230,027,324
Fundraising Expenses $0
Program Expenses $505,653,204
Other Expenses $300,738,039
TOTAL EXPENSES $530,964,628

Year-over-Year Comparison

2023 2022 Change
Revenue $587,807,527 $526,470,858 +0.1%
Expenses $530,964,628 $504,031,650 +0.1%
Net Income $56,842,899 $22,439,208 +1.5%
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

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Governance

Voting Members
15
Independent Members
13
Employees
3755
Volunteers
391

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
7
$3,171,358
Total Directors
18
$3,171,358
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ruth Colby President/CEO (until 10/16/23) 1.00
Officer Director
$0 $64,361 $1,463,100
Vincent Pryor Assistant Treasurer 1.00
Officer Director
$0 $60,950 $1,048,966
Michael Mutterer President/CEO 1.00
Officer Director
$0 $58,776 $659,292
Jean Kenol Chairman 1.00
Officer Director
$0 $0 $0
Michael Scudder First Vice Chairman 1.00
Officer Director
$0 $0 $0
Susan Prock Second Vice Chairman & Secretary 1.00
Officer Director
$0 $0 $0
Dr David Mikolajczak Treasurer 1.00
Officer Director
$0 $0 $0
Sid Bala Director 1.00
Director
$0 $0 $0
Vincent Cornelius Director 1.00
Director
$0 $0 $0
Terry D'Arcy Director 1.00
Director
$0 $0 $0
Mark Danielson MD Director 1.00
Director
$0 $0 $0
Jennifer Howard Director 1.00
Director
$0 $0 $0
Douglas Hutchison Jr Director (until 6/3/24) 1.00
Director
$0 $0 $0
Dr David Livingston Director 1.00
Director
$0 $0 $0
Dr Judith Mitchell Director 1.00
Director
$0 $0 $0
John Phelan Director 1.00
Director
$0 $0 $0
Mark Stofan Director (until 6/3/24) 1.00
Director
$0 $0 $0
Denise Winfrey Director 1.00
Director
$0 $0 $0
Jerome Daly CMO Essential Health Partners 40.00
Highest
$297,052 $37,779 $334,831
Kay Novak Controller 40.00
Highest
$271,500 $54,066 $325,566
Molly Brusca Exec. Dir. Medical Group Operations 40.00
Highest
$274,088 $48,733 $322,821
Frank Butler Adm. Director Pharmacy Services 40.00
Highest
$251,110 $49,377 $300,487
Matthew Boebel Associate VP Clinical Services 40.00
Highest
$238,289 $46,900 $285,189
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 $587,807,527 $530,964,628 $1,143,623,821 $56,842,899
2023 $526,470,858 $504,031,650 $1,038,832,678 $22,439,208
2022 $519,921,362 $485,817,461 $973,396,878 $34,103,901
2021 $539,695,651 $445,066,826 $1,037,780,601 $94,628,825
2020 $452,486,976 $399,164,165 $939,990,029 $53,322,811
2019 $419,972,709 $386,421,033 $819,753,860 $33,551,676
2018 $398,158,875 $370,944,886 $774,783,566 $27,213,989
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