Lurie Children's Pediatric Anesthe… - Form 990 Financial Data

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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

2016

Legal Domicile

Phone

3122277201

Tax Period

2023-09-01 to 2024-08-31

Lurie Children's Pediatric Anesthesia Associates, founded in 2016, is a mid-sized nonprofit that reported $32.2M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $37.8M exceeded revenue, resulting in a 17% operating deficit.

Mission

IN PURSUIT OF SUCH PURPOSES, THE CORPORATION MAY: (I) ENGAGE IN THE PROFESSIONAL ENTERPRISE OF FURNISHING INFORMATION, RESEARCH, AND CLINICAL STUDIES AND PERFORMING OTHER SERVICES ASSOCIATED WITH THE SPECIALTY OF PEDIATRIC ANESTHESIA AND ALL ITS RELATED FIELDS; (II) PROVIDE INFORMATION AND INSTRUCTION TO GRADUATE PHYSICIANS AND OTHER HEALTH CARE PERSONNEL IN MEDICAL SPECIALTY EDUCATION RELATED TO PEDIATRICS AND PEDIATRIC ANESTHESIA; (III) CONDUCT RESEARCH IN ALL BRANCHES OF CLINICAL MEDICINE, WITH SPECIALTIES IN PEDIATRICS AND PEDIATRIC ANESTHESIA; (IV) PROVIDE MEDICAL INFORMATION TO PATIENTS IN CONNECTION WITH THE FOREGOING, WITHOUT REGARD TO THE PATIENT'S ABILITY TO PAY; (V) PROPOSE, ENCOURAGE AND STIMULATE RESEARCH, EXPERIMENTS AND STUDIES RELATED TO DISEASES AFFECTING PEDIATRIC PATIENTS AND FOSTER THE EDUCATION OF THE MEDICAL COMMUNITY AND THE DISSEMINATION OF INFORMATION RELATING TO MALADIES AND ILLNESSES AFFECTING PEDIATRIC PATIENTS AND THE ALLEVIATION THEREOF; AND (VI) ENGAGE IN SUCH OTHER ACTIVITIES OF A CHARITABLE AND/OR MEDICAL AND EDUCATIONAL NATURE AS MAY BE PERMITTED UNDER THE PROVISIONS OF THE ILLINOIS ACT.

Program Service Accomplishments

Program 1

Expenses: $37,474,921 Revenue: $24,001,339

LURIE CHILDREN'S PEDIATRIC ANESTHESIA ASSOCIATES ("LCPAA") IS AN ILLINOIS NOT FOR PROFIT CORPORATION AND AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE CODE. ON JANUARY 1, 2019, CHILDREN'S HOSPITAL OF CHICAGO MEDICAL CENTER (FEIN 36-3357004) BECAME THE SOLE CORPORATE MEMBER OF LCPAA. LCPAA IS THE EXCLUSIVE PROVIDER OF PEDIATRIC ANESTHESIOLOGY SERVICES TO PATIENTS OF ANN & ROBERT H. LURIE CHILDREN'S HOSPITAL OF CHICAGO ("LURIE CHILDREN'S"). LCPAA IS COMPOSED OF TRAINED PEDIATRIC ANESTHESIOLOGISTS WHO ARE BEST EQUIPPED TO SAFELY CARE FOR CHILDREN BECAUSE OF THEIR DEEP UNDERSTANDING OF HOW CHILDREN'S BODIES WORK, HOW CHILDREN REACT TO MEDICATIONS AND ANESTHESIA, AND HOW THE ILLNESSES CHILDREN SUFFER FROM DIFFER FROM THOSE IN OLDER PATIENTS. LCPAA PROVIDES SPECIALIZED PROGRAMS, INCLUDING POST-OPERATIVE PAIN RELIEF, CHRONIC PAIN SERVICES, AND PATIENT-CONTROLLED ANALGESIA. IN ADDITION TO PROVIDING A WIDE RANGE OF PEDIATRIC ANESTHESIA SERVICES, LCPAA ENGAGES IN RESEARCH AND EDUCATION. ANESTHESIOLOGISTS EMPLOYED BY LCPAA PROVIDE INFORMATION AND INSTRUCTION TO MEDICAL STUDENTS, GRADUATE PHYSICIANS IN RESIDENCIES AND FELLOWSHIPS, AND OTHER HEALTH CARE PROFESSIONALS IN MEDICAL SPECIALTY EDUCATION RELATED TO PEDIATRICS AND PEDIATRIC ANESTHESIA. LCPAA CONDUCTS RESEARCH IN ALL BRANCHES OF CLINICAL MEDICINE, WITH SPECIALTIES IN PEDIATRICS AND PEDIATRIC ANESTHESIA, AND PROPOSES, ENCOURAGES AND STIMULATES RESEARCH, EXPERIMENTS, AND STUDIES RELATED TO DISEASES AFFECTING PEDIATRIC PATIENTS. THROUGH THIS WORK, LCPAA FOSTERS THE EDUCATION OF THE MEDICAL COMMUNITY AND THE DISSEMINATION OF INFORMATION RELATING TO MALADIES AND ILLNESSES AFFECTING PEDIATRIC PATIENTS AND THE ALLEVIATION OF THOSE CONDITIONS. LCPAA PROVIDES SERVICES REGARDLESS OF THE PATIENT'S ABILITY TO PAY. IT ACCEPTS PATIENTS COVERED BY MEDICARE AND MEDICAID AND PROVIDES FINANCIAL ASSISTANCE UNDER ITS FINANCIAL ASSISTANCE POLICY.

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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 $8,222,929

Program Service Revenue $24,001,339

Investment Income $0

Other Revenue $0

TOTAL REVENUE $32,224,268

Expense Breakdown

Grants Paid $0

Salaries & Benefits $32,343,994

Fundraising Expenses $0

Program Expenses $37,474,921

Other Expenses $5,474,921

TOTAL EXPENSES $37,818,915

Year-over-Year Comparison

	2023	2022	Change
Revenue	$32,224,268	$36,230,260	-0.1%
Expenses	$37,818,915	$32,749,806	+0.2%
Net Income	$-5,594,647	$3,480,454	-2.6%

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

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

$2,650,785

Total Directors

$5,399,216

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Oluwatoyin Olutoye MD	Ex-Officio Director/President and Chair	40.0	Officer Director	$998,673	$31,472	$1,030,145
Ann C Monahan MD	Director/Physician	40.0	Director	$398,805	$61,675	$460,480
Erin Toaz MD	Director/Physician	40.0	Director	$340,016	$23,389	$363,405
Hubert Benzon MD	Director/Physician	40.0	Director	$468,521	$61,675	$530,196
James H Roth	Director	1.0	Director	$0	$0	$0
Michael King MD	Director Through 4/30/24/Physician	40.0	Director	$450,170	$31,939	$482,109
Thomas P Shanley MD	Ex-Officio Director/President & CEO LCH	1.0	Director	$0	$631,672	$2,532,881
William James Gregory Hanifee	Director	1.0	Director	$0	$0	$0
Alex P Miller	SVP, Chief Financial Officer	1.0	Officer	$0	$43,308	$744,798
Fatema Zanzi	EVP, Chief Admin & Legal Officer, Corp Sec (begin 01/09/24)	1.0	Officer	$0	$149,202	$875,842
Alina Lazar MD	Physician	40.0	Highest	$489,561	$67,113	$556,674
Anne C Boat MD	Physician, Assoc Chief Med Off./Assoc. Prof Pediatric Anesthesia Thru 1/15/24	40.0	Highest	$576,196	$49,658	$625,854
Lisa Sohn MD	Physician	40.0	Highest	$505,594	$31,477	$537,071
Ravi Shah MD	Physician	40.0	Highest	$527,185	$56,675	$583,860
Richard M Dsida MD	Physician	40.0	Highest	$622,251	$45,614	$667,865
Brenda Davis	Former Interim Chief Financial Officer Through 2/6/23	0.0		$0	$32,383	$402,417

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	$14,156,504	$12,864,837	No data	$1,291,667
2024	$32,224,268	$37,818,915	$3,214,232	$-5,594,647
2023	$36,230,260	$32,749,806	$7,335,812	$3,480,454
2022	$29,734,547	$30,702,254	$5,424,995	$-967,707
2021	$26,505,255	$27,292,327	$5,311,824	$-787,072
2020	$23,750,339	$24,666,873	$5,081,203	$-916,534
2019	$18,099,620	$15,010,199	$5,748,885	$3,089,421

Lurie Children's Pediatric Anesthesia Associates