Thorek Memorial Hospital

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1911

Legal Domicile

Phone

7739756806

Tax Period

2024-07-01 to 2025-06-30

Thorek Memorial Hospital, founded in 1911, is a major nonprofit in the Health Care sector that reported $161.0M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $47.0M, a strong 29% operating margin.

Mission

THOREK MEMORIAL HOSPITAL IS COMMITTED TO PROVIDING APPROPRIATE PATIENT SERVICES IN A CARING & COST-EFFECTIVE MANNER. THOREK MEMORIAL HOSPITAL SEEKS TO SERVE ITS PATIENTS, PHYSICIANS, EMPLOYEES, & COMMUNITY BY PROVIDING QUALITY SERVICES & ENCOURAGING EMPLOYEE EXCELLENCE.

Program Service Accomplishments

Program 1

Expenses: $96,554,108 Revenue: $129,534,473

THOREK MEMORIAL HOSPITAL PROVIDES QUALITY MEDICAL HEALTHCARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE, OR ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICE RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF THOREK MEMORIAL HOSPITAL, WE RECOGNIZE THAT IT IS THE HOSPITAL'S MISSION TO SERVE THE COMMUNITY BY PROVIDING HEALTHCARE SERVICES AND HEALTHCARE EDUCATION AND THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PAY FOR ESSENTIAL MEDICAL SERVICES. THEREFORE, IN KEEPING WITH THE HOSPITAL'S COMMITMENT TO SERVE ALL MEMBERS OF OUR COMMUNITY, WE PROVIDE FREE CARE AND OR SUBSIDIZED CARE TO INDIVIDUALS WHO ARE UNABLE TO PAY FOR ESSENTIAL SERVICES, AND PROVIDE HEALTH ACTIVITIES AND PROGRAMS TO SUPPORT OUR COMMUNITY.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,000,000

Program Service Revenue $129,008,553

Investment Income $28,627,082

Other Revenue $1,329,818

TOTAL REVENUE $160,965,453

Expense Breakdown

Grants Paid $3,500

Salaries & Benefits $44,767,706

Fundraising Expenses $0

Program Expenses $96,554,108

Other Expenses $69,230,049

TOTAL EXPENSES $114,001,255

Year-over-Year Comparison

	2024	2023	Change
Revenue	$160,965,453	$136,182,905	+0.2%
Expenses	$114,001,255	$107,222,959	+0.1%
Net Income	$46,964,198	$28,959,946	+0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

643

Volunteers

N/A

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

$1,899,473

Total Directors

$805,542

Key Employees

$410,727

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BHAGWAN JAIN MD	SECRETARY, TRUSTEE & MEDICAL STAFF PRESIDENT	6.0	Officer Director	$35,000	$0	$35,000
BONNIE PHIPPS	TREASURER	6.0	Officer Director	$35,000	$0	$35,000
JAMES NUGENT	VICE CHAIR	6.0	Officer Director	$37,500	$0	$37,500
PETER KAMBEROS	CHAIRMAN & COO	40.0	Officer Director	$642,015	$1,027	$643,042
MANJEET CHAWLA MD	TRUSTEE & PHYSICIAN	6.0	Director	$20,000	$0	$20,000
ROBERT BAUDINO	TRUSTEE	6.0	Director	$35,000	$0	$35,000
EDWARD BUDD	PRESIDENT/CEO	40.0	Officer	$646,068	$20,556	$666,624
TIM HEINRICH	CFO	40.0	Officer	$461,751	$20,556	$482,307
GENEVIEVE PRESBITERO	CHIEF NURSING OFFICER & MARKETING OUTREACH OFFICER	40.0	Key Emp	$402,309	$8,418	$410,727
ANDREW ALBERT MD	PHYSICIAN	40.0	Highest	$355,648	$0	$355,648
JOHN HUNNIFORD MD	PHYSICIAN	40.0	Highest	$461,370	$8,418	$469,788
KENNETH CANDIDO MD	PHYSICIAN	40.0	Highest	$415,669	$19,529	$435,198
STEVEN SCLAMBERG MD	PHYSICIAN	40.0	Highest	$778,518	$20,556	$799,074
YVES PIVERGER MD	PHYSICIAN	40.0	Highest	$360,047	$20,556	$380,603

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	$160,965,453	$114,001,255	$704,840,098	$46,964,198
2024	$136,182,905	$107,222,959	$618,735,363	$28,959,946
2023	$142,575,807	$101,482,306	$538,417,547	$41,093,501
2022	$124,803,046	$96,467,264	$462,572,422	$28,335,782
2021	$127,922,496	$92,638,926	$512,859,760	$35,283,570
2020	$96,364,280	$84,936,606	$402,112,917	$11,427,674
2019	$77,679,627	$61,936,178	$380,704,896	$15,743,449
2018	$85,350,875	$63,695,103	$360,598,750	$21,655,772