THE UNIVERSITY OF VERMONT HEALTH NETWORK

EIN: 452880726 501(c)(3) Mental Health

BURLINGTON, VT

Total Revenue
$40,547,186
Total Expenses
$11,176,340
Total Assets
$1,191,840,799
Net Assets
$107,120,960
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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
VT
Principal Officer
RICHARD VINCENT
Phone
8028475959
Tax Period
2023-10-01 to 2024-09-30

THE UNIVERSITY OF VERMONT HEALTH NETWORK, founded in 2011, is a mid-sized nonprofit in the Mental Health sector that reported $40.5M in total revenue in fiscal year 2023. Revenue surged 1223% from the prior year, signaling strong growth momentum. The organization ran a surplus of $29.4M, a strong 72% operating margin.

Mission

THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE EXCLUSIVELY CHARITABLE, EDUCATIONAL, AND/OR SCIENTIFIC PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, OF THIS CORPORATION AND ITS SUBSIDIARIES AND ANY OTHER NONPROFIT, TAX EXEMPT HEALTH CARE PROVIDERS THAT BECOME MEMBERS OF AN INTEGRATED REGIONAL HEALTH CARE SYSTEM ESTABLISHED BY THE CORPORATION, INCLUDING THE FOLLOWING PURPOSES: (A) TO ESTABLISH AN INTEGRATED REGIONAL HEALTH CARE SYSTEM THAT ALIGNS THE MISSIONS AND ECONOMIC INTERESTS OF THE SYSTEM MEMBERS AND OTHER NONPROFIT, TAX EXEMPT HEALTH CARE PROVIDERS THAT ARE OR BECOME MEMBERS OF THE SYSTEM; (B) TO ENGAGE IN COLLABORATIVE REGIONAL PLANNING TO DEVELOP A HIGHLY COORDINATED HEALTH CARE NETWORK THAT WILL IMPROVE THE QUALITY, INCREASE THE EFFICIENCIES, AND LOWER THE COSTS OF HEALTH CARE DELIVERY IN THE COMMUNITIES SERVED BY THE SYSTEM; (C) TO ENGAGE IN SUCH OTHER CHARITABLE, EDUCATIONAL, AND/OR SCIENTIFIC ACTIVITIES AS ARE CONSISTENT WITH THE CORPORATION'S STATUS AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND INCLUDING FOR SUCH PURPOSES THE MAKING OF DISTRIBUTIONS OF PROPERTY OR CASH TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C) OF THE INTERNAL REVENUE CODE. ALL SECTION REFERENCES IN THESE ARTICLES OF INCORPORATION REFER TO THE INTERNAL REVENUE CODE OF 1986, TITLE 26 OF THE UNITED STATES CODE, AND COMPARABLE PROVISIONS OF LATER LAW. SUBJECT TO THE FOREGOING, THE CORPORATION SHALL BE PERMITTED TO ENGAGE IN ANY LAWFUL ACT OR ACTIVITY FOR WHICH CORPORATIONS MAY BE ORGANIZED UNDER THE VERMONT NONPROFIT CORPORATION ACT; AND (D) TO INTEGRATE THE HEALTH CARE PROGRAMS AND SERVICES OF SYSTEM MEMBERS WITH TEACHING AND RESEARCH TO SERVE AS A MODEL FOR THE DELIVERY OF ACADEMIC HEALTH CARE IN A RURAL REGION IN A MANNER CONSISTENT WITH THE CORPORATION'S AFFILIATION WITH THE UNIVERSITY OF VERMONT & STATE AGRICULTURAL COLLEGE, AND ITS COLLEGE OF MEDICINE AND COLLEGE OF NURSING AND HEALTH SCIENCES.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $453,235
Program Service Revenue $10,326,440
Investment Income $29,767,511
Other Revenue $0
TOTAL REVENUE $40,547,186

Expense Breakdown

Grants Paid $437,940
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $437,940
Other Expenses $10,738,400
TOTAL EXPENSES $11,176,340

Year-over-Year Comparison

2023 2022 Change
Revenue $40,547,186 $3,063,827 +12.2%
Expenses $11,176,340 $7,847,721 +0.4%
Net Income $29,370,846 $-4,783,894 -7.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
21
Independent Members
17
Employees
N/A
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
6
$2,994,750
Total Directors
23
$2,933,755
Key Employees
16
$9,164,068
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NOMA ANDERSON TRUSTEE 2.00
Director
$0 $0 $0
SIVAN COTEL TRUSTEE 2.00
Director
$0 $0 $0
MICHELLE CROMWELL TRUSTEE (TIL 12/2023) 2.00
Director
$0 $0 $0
VICTORIA DULEY SECRETARY (TIL 12/2023)/ TRUSTEE 2.00
Officer Director
$0 $0 $0
JOHN DWYER TRUSTEE 2.00
Director
$0 $0 $0
DR SUNIL EAPPEN PRESIDENT/CEO 25.00
Officer Director
$0 $198,581 $2,147,061
DOMINIC EISINGER TRUSTEE 2.00
Director
$0 $0 $0
DEENA MCCULLOUGH TRUSTEE 2.00
Director
$0 $0 $0
THOMAS GOLONKA VICE CHAIR/TRUSTEE 2.00
Officer Director
$0 $0 $0
CAROL HARADEN TRUSTEE 2.00
Director
$0 $0 $0
KEVIN HART TRUSTEE 2.00
Director
$0 $0 $0
DR VIRGINIA HOOD TRUSTEE 2.00
Director
$0 $33 $60,717
DR ROBERT LASKOWSKI TRUSTEE (TIL 12/2023) 2.00
Director
$0 $0 $0
DR DEBRA LEONARD TRUSTEE 2.00
Director
$0 $60,335 $485,215
DR RICHARD PAGE TRUSTEE 2.00
Director
$0 $22,230 $240,762
DR JOHN RUGGE TRUSTEE 2.00
Director
$0 $0 $0
KERIN STACKPOLE TRUSTEE 2.00
Director
$0 $0 $0
ALLIE STICKNEY CHAIR/ TRUSTEE 2.00
Officer Director
$0 $0 $0
SANDRINE KIBUEY TRUSTEE (AS OF 1/2024) 2.00
Director
$0 $0 $0
DR EDMONDO ROBINSON TRUSTEE (AS OF 1/2024) 2.00
Director
$0 $0 $0
IAN SCHMIDEK TRUSTEE (AS OF 1/2024) 2.00
Director
$0 $0 $0
BETSY VICENCIO TRUSTEE 2.00
Director
$0 $0 $0
DR KARA WALKER SECRETARY (AS OF 1/2024)/ TRUSTEE 2.00
Officer Director
$0 $0 $0
RICHARD VINCENT TREASURER 25.00
Officer
$0 $64,609 $847,689
LORI BOISJOLI NETWORK CIO 25.00
Key Emp
$0 $101,788 $588,656
DR JASON SANDERS PRES/CEO OF UVMHN MG 5.00
Key Emp
$0 $95,550 $604,225
DR DAVID CLAUSS SVP/CHIEF MED OFF 25.00
Key Emp
$0 $122,456 $708,716
DR DOUGLAS GENTILE SVP, NETWORK IT 25.00
Key Emp
$0 $103,160 $693,542
GINGER LUBKOWITZ SVP, CHIEF DEV OFF 44.00
Key Emp
$0 $52,485 $399,053
ERIC MILLER ESQ SVP, GENERAL COUNSEL 25.00
Key Emp
$0 $95,622 $671,113
JESSICA MOSCHELLA SVP, HIGH VALUE CARE 25.00
Key Emp
$0 $82,166 $548,080
JERALD NOVAK SVP, CHIEF PEOPLE OFFICER 25.00
Key Emp
$0 $56,473 $606,156
CHRISTINE WERNEKE PRES/COO, UVMHN HHH 5.00
Key Emp
$0 $53,295 $381,197
MICHELLE LEBEAU PRES, AHMC/CVPH 5.00
Key Emp
$0 $113,166 $723,849
DR STEPHEN M LEFFLER PRES/COO, UVMMC 5.00
Key Emp
$0 $71,334 $891,965
ANNA T NOONAN PRES/COO, CVMC 5.00
Key Emp
$0 $109,957 $664,019
BOB ORTMYER PRES, ECH & PMC (AS OF 5/2024) 5.00
Key Emp
$0 $62,284 $425,045
DRRAMSEY HERRINGTON INTERIM EVP, COO (AS OF 4/2024) 25.00
Key Emp
$0 $69,242 $547,381
GARY SCOTT SVP FACILITIES (AS OF 2/2024) 25.00
Key Emp
$0 $40,462 $372,557
JASON WILLIAMS SVP, CHIEF RELA OFF (AS OF 5/2024) 25.00
Key Emp
$0 $50,539 $338,514
ANYA RADER WALLACK FMR SVP, STRAT COMM 0.00
$0 $37,447 $326,942
JACKIE HUNTER FMR SVP, CHIEF DIV & INCL 0.00
$0 $30,163 $364,837
ALFRED GOBEILLE FMR EXEC VP/COO 25.00
$0 $40,162 $808,479
TOM THOMPSON FMR PRES/COO, PMC 0.00
$0 $11,310 $457,809
ADRIANNE JOHNSON-ROSS FMR PRES/COO, UVMHN HHH 0.00
$0 $1,089 $346,882
DIANA SCALISE FMR SVP, HIGH VALUE CARE 0.00
$0 $0 $213,887
DR HOWARD M SCHAPIRO FMR SVP, CHIEF HLTH & QUAL OFF 0.00
$0 $0 $331,461
JOHN REMILLARD FMR PRESIDENT, ECH 0.00
$0 $0 $227,250
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 $40,547,186 $11,176,340 $1,191,840,799 $29,370,846
2023 $3,063,827 $7,847,721 $991,346,801 $-4,783,894
2022 $67,256,070 $4,604,990 $908,172,403 $62,651,080
2021 $37,209,596 $7,710,174 $1,020,848,268 $29,499,422
2020 $33,009,264 $5,041,141 $895,648,732 $27,968,123
2019 $23,864,147 $4,610,462 $767,930,157 $19,253,685
2018 $20,268,000 $175,097 $774,587,965 $20,092,903
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