ST LUKE'S MEDICAL GROUP

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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

2004

Legal Domicile

Principal Officer

JONATHAN R VITIELLO

Phone

3144341500

Tax Period

2022-07-01 to 2023-06-30

ST LUKE'S MEDICAL GROUP, founded in 2004, is a mid-sized nonprofit that reported $89.4M in total revenue in fiscal year 2022. Expenses of $132.4M exceeded revenue, resulting in a 48% operating deficit.

Mission

TO FURTHER THE CHARITABLE AND HEALTH PURPOSES OF ST. LUKE'S EPISCOPAL-PRESBYTERIAN HOSPITALS, AND TO RECRUIT, TRAIN AND EMPLOY QUALIFIED HEALTH CARE PROFESSIONALS TO PROVIDE HEALTH CARE SERVICES TO THE COMMUNITY. ST. LUKE'S MEDICAL GROUP PROVIDES QUALITY MEDICAL CARE TO PATIENTS REGARDLESS OF RACE, CREED, GENDER, NATIONAL ORIGIN, HANDICAP, AGE OR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $128,178,629 Revenue: $89,401,828

EXPENSES INCURRED IN PROVIDING MEDICALLY NECESSARY SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION OR ABILITY TO PAY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $89,163,614

Investment Income $26,868

Other Revenue $238,214

TOTAL REVENUE $89,428,696

Expense Breakdown

Grants Paid $0

Salaries & Benefits $105,831,164

Fundraising Expenses $0

Program Expenses $128,178,629

Other Expenses $26,585,325

TOTAL EXPENSES $132,416,489

Year-over-Year Comparison

	2022	2021	Change
Revenue	$89,428,696	$83,576,993	+0.1%
Expenses	$132,416,489	$121,554,114	+0.1%
Net Income	$-42,987,793	$-37,977,121	+0.1%

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

N/A

Employees

834

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

$1,256,365

Total Directors

$1,630,531

Key Employees

$912,753

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTHA FLEISCHMANN	SENIOR VICE PRESIDENT & CFO	20.00	Officer Director	$0	$37,036	$484,165
ANDREW BAGNALL	PRESIDENT & CEO (START 8/22)	12.00	Officer Director	$0	$8,115	$398,277
DON MILLER	NTWK VP FACILITIES & SUPPORT	9.00	Director	$0	$34,509	$374,166
GARY OLSON	INTERIM PRES & CEO (THRU 8/22)	12.00	Officer Director	$0	$0	$373,923
DARREN HASKELL MD	CHIEF MEDICAL OFFICER	30.00	Key Emp	$543,522	$45,305	$588,827
JAMES SNIDER	VP PHYSICIAN NETWORK	50.00	Key Emp	$0	$29,385	$323,926
JEREMY LEIDENFROST MD	CARDIOTHORACIC SURGEON	55.00	Highest	$1,681,585	$35,798	$1,717,383
JASON EDWARDS MD	RADIATION ONCOLOGIST	55.00	Highest	$1,467,836	$12,963	$1,480,799
MICHAEL REIDY MD	CARDIOTHORACIC SURGEON	55.00	Highest	$1,422,390	$25,667	$1,448,057
MICHAEL OGAWA MD	ONCOLOGIST	55.00	Highest	$1,237,039	$24,604	$1,261,643
CHRISTIAN SIKORSKI MD	NEUROSURGEON	55.00	Highest	$1,194,749	$34,521	$1,229,270
SHANE M CERONE	FORMER PRESIDENT AND CEO	0.00		$0	$0	$966,340

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	No data	No data	No data	No data
2023	$89,428,696	$132,416,489	$20,106,902	$-42,987,793
2022	$83,576,993	$121,554,114	$18,651,488	$-37,977,121
2021	$82,398,562	$115,260,279	$22,271,099	$-32,861,717
2020	$72,967,787	$109,814,437	$15,531,098	$-36,846,650
2019	$72,471,470	$101,833,034	$17,271,048	$-29,361,564
2018	$63,273,930	$80,895,389	$14,433,078	$-17,621,459