Riverside Medical Center

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1958

Legal Domicile

Phone

8159331671

Tax Period

2023-01-01 to 2023-12-31

Riverside Medical Center, founded in 1958, is a major nonprofit in the Health Care sector that reported $457.5M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $425.4M left a modest 7% surplus.

Mission

Riverside Medical Center is committed to improving the well-being of the communities it serves, regardless of an individual's ability to pay. In addition to the day-to-day services provided to patients, Riverside Medical Center reaches beyond the walls of the medical center, and in collaboration with community partners, takes healthcare education, screenings and support services out to its primary and secondary community. Total charity care benefits provided to non-medicare patients for the year was over $2.5 million.

Program Service Accomplishments

Program 1

Expenses: $326,192,621 Revenue: $332,169,136

Riverside Medical Center offers various inpatient and outpatient services that include, but are not limited to, emergency care, ambulance services, behavioral health services, physical rehabilitation therapy, home health care, peri-operative services, pharmacy, radiology, respiratory therapy, nursery, and obstetrics. Riverside Medical Center also operates multiple community primary and specialty health centers located in Kankakee, Will, Iroquois, and grundy counties in the state of Illinois.

Program 2

Expenses: $33,693,457 Revenue: $46,739,239

CARDIOLOGY - THE RIVERSIDE HEART CENTER IS RECOGNIZED AS THE MOST ADVANCED CARDIAC CENTER IN THE REGION. PATIENTS ARE TRANSFERRED IN FROM SURROUNDING COUNTIES AND HOSPITALS FOR THE CARE PROVIDED BY THE NATIONALLY RANKED CARDIAC TEAMS AT RIVERSIDE. THE SOCIETY OF CHEST PAIN CENTERS HAS AWARDED ACCREDITATION TO RIVERSIDE AS AN ADVANCED CHEST PAIN CENTER FOR ITS ABILITY TO MEET THE HIGHEST STANDARDS FOR THE CARE OF INDIVIDUALS EXPERIENCING A HEART ATTACK AND RAPID INTERVENTION TO STOP THE HEART ATTACK. SERVICES INCLUDE COMPREHENSIVE CARDIAC SERVICES SUCH AS: OPEN HEART SURGERY, HEART VALVE REPAIR AND VENTRICULAR REMODELING, MITRAL VALVE SURGERY, ATRIAL FIBRILLATION MANAGEMENT, HEART RHYTHM DISORDER DIAGNOSTICS AND MANAGEMENT, THREE ADVANCED CARDIAC CATHETERIZATION LABS, A FULL ARRAY OF CARDIAC DIAGNOSTICS AND CARDIAC REHAB, WOMEN'S HEART AWARENESS AND EDUCATION PROGRAM, AND HEART SCAN TO IDENTIFY RISK FOR HEART ATTACK. IN 2022, THERE WERE 84 CARDIAC SURGERIES PERFORMED. ALSO, THERE WERE 1,641 CARDIAC CATHETERIZATION PROCEDURES PERFORMED.

Program 3

Expenses: $29,057,732 Revenue: $40,308,606

ONCOLOGY - THE RIVERSIDE CANCER INSTITUTE PROVIDES CARE TO PATIENTS ORIGINATING FROM THE 5 SURROUNDING COUNTIES. CANCER TREATMENTS BASED ON THE LATEST FINDINGS IN CANCER RESEARCH ARE PROVIDED BY...

ONCOLOGY - THE RIVERSIDE CANCER INSTITUTE PROVIDES CARE TO PATIENTS ORIGINATING FROM THE 5 SURROUNDING COUNTIES. CANCER TREATMENTS BASED ON THE LATEST FINDINGS IN CANCER RESEARCH ARE PROVIDED BY BOARD CERTIFIED MEDICAL AND RADIATION ONCOLOGISTS AND NATIONALLY CERTIFIED ONCOLOGY NURSES. SERVICES INCLUDE HIGHLY INDIVIDUALIZED TREATMENT PLANS FOR SURGERY, MINIMALLY INVASIVE SURGERY, ROBOTIC SURGERY, CHEMOTHERAPY, MONOCLONAL ANTIBODY THERAPY, IMMUNOTHERAPY, HIGHPRECISION RADIATION THERAPY, BLOOD TRANSFUSIONS, AND PAIN MANAGEMENT. TEAMS OF ONCOLOGY PHYSICIANS AND STAFF MEET TO SPECIFICALLY TAILOR PLANS TO THE INDIVIDUALS AND PROVIDE EXTENSIVE EDUCATION AND SUPPORT. THERE WERE OVER 8,386 SURGICAL, CHEMOTHERAPY AND RADIATION PROCEDURES PERFORMED IN 2022.

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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 $648,704

Program Service Revenue $434,447,402

Investment Income $14,827,224

Other Revenue $7,586,960

TOTAL REVENUE $457,510,290

Expense Breakdown

Grants Paid $231,297

Salaries & Benefits $215,227,302

Fundraising Expenses $0

Program Expenses $399,923,140

Other Expenses $209,952,121

TOTAL EXPENSES $425,410,720

Year-over-Year Comparison

	2023	2022	Change
Revenue	$457,510,290	$404,264,598	+0.1%
Expenses	$425,410,720	$414,049,817	+0.0%
Net Income	$32,099,570	$-9,785,219	-4.3%

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

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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

3086

Volunteers

121

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

$2,142,549

Total Directors

$3,264,440

Key Employees

$2,204,108

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Chariman	1.0	Officer Director	$0	$0	$0
N/A	Vice Chairman	1.0	Officer Director	$0	$0	$0
N/A	Secretary	1.0	Officer Director	$0	$0	$0
N/A	President/CEO	40.0	Officer Director	$1,111,991	$496,640	$1,608,631
N/A	Director	1.0	Director	$0	$0	$0
N/A	Director	1.0	Director	$0	$0	$0
N/A	Director	1.0	Director	$0	$0	$0
N/A	Director/Physician	40.0	Director	$420,997	$72,889	$493,886
N/A	Director/Physician	40.0	Director	$417,424	$54,894	$472,318
N/A	Director	1.0	Director	$0	$0	$0
N/A	Director	1.0	Director	$0	$0	$0
N/A	Director	1.0	Director	$0	$0	$0
N/A	Director/Physician	40.0	Director	$639,141	$50,464	$689,605
N/A	Treasurer/CFO	40.0	Officer	$473,551	$60,367	$533,918
N/A	VP of Riverside Medical Group	40.0	Key Emp	$264,045	$63,282	$327,327
N/A	VP Clinical Services	40.0	Key Emp	$234,493	$19,599	$254,092
N/A	VP of Operations	40.0	Key Emp	$391,402	$59,733	$451,135
N/A	VP of Nursing	40.0	Key Emp	$227,892	$1,340	$229,232
N/A	VP of Clinical Services	40.0	Key Emp	$194,448	$15,600	$210,048
N/A	VP of Government Relations	20.0	Key Emp	$178,226	$45,558	$223,784
N/A	SVP - General Counsel	40.0	Key Emp	$239,017	$0	$239,017
N/A	VP of Post Acute Care	20.0	Key Emp	$221,684	$47,789	$269,473
N/A	Physician	40.0	Highest	$998,008	$62,970	$1,060,978
N/A	Physician	40.0	Highest	$1,403,622	$106,247	$1,509,869
N/A	Physician	40.0	Highest	$1,026,360	$53,867	$1,080,227
N/A	Physician	40.0	Highest	$1,051,577	$38,238	$1,089,815
N/A	Physician	40.0	Highest	$1,137,735	$66,050	$1,203,785
N/A	Strategic Advisor to the President	40.0		$179,452	$55,904	$235,356

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	$457,510,290	$425,410,720	$761,541,453	$32,099,570
2022	$404,264,598	$414,049,817	$749,480,698	$-9,785,219
2021	$469,564,984	$397,237,867	$828,303,809	$72,327,117
2020	$405,401,988	$370,385,405	$787,968,057	$35,016,583
2019	$396,064,913	$366,365,097	$680,719,551	$29,699,816
2018	$370,768,253	$343,060,861	$644,486,885	$27,707,392