LMW HEALTHCARE INC

EIN: 460543230 501(c)(3) Health Care

NEW LONDON, CT

Total Revenue
$135,565,071
Total Expenses
$152,156,601
Total Assets
$95,404,587
Net Assets
$-20,729,921
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
RI
Principal Officer
RICHARD LISITANO
Phone
2036880580
Tax Period
2023-10-01 to 2024-09-30

LMW HEALTHCARE INC, founded in 2012, is a major nonprofit in the Health Care sector that reported $135.6M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $152.2M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROVIDE MEDICAL CARE IN THE WESTERLY, RHODE ISLAND COMMUNITY AND SURROUNDING TOWNS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $211,011
Program Service Revenue $134,331,345
Investment Income $236,916
Other Revenue $785,799
TOTAL REVENUE $135,565,071

Expense Breakdown

Grants Paid $26,397
Salaries & Benefits $65,045,602
Fundraising Expenses $0
Program Expenses $142,694,701
Other Expenses $87,084,602
TOTAL EXPENSES $152,156,601

Year-over-Year Comparison

2023 2022 Change
Revenue $135,565,071 $125,333,691 +0.1%
Expenses $152,156,601 $145,612,405 +0.0%
Net Income $-16,591,530 $-20,278,714 -0.2%
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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Governance

Voting Members
15
Independent Members
11
Employees
1192
Volunteers
110

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
$4,212,989
Total Directors
16
$2,669,374
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM ASELTYNE SECR./TRUSTEE (CURRENT YR COMP) 1.00
Officer Director
$0 $193,425 $1,450,910
WILLIAM ASELTYNE SECR./TRUSTEE (VESTED DEFERRED) 1.00
Officer Director
$0 $0 $235,138
GAIL KOSYLA TREASURER 1.00
Officer
$0 $407,968 $1,543,615
PATRICK L GREEN FORMER OFFICER (CURRENT YR COMP) 0.00
$0 $219,082 $835,885
PATRICK L GREEN FORMER OFFICER (VESTED DEFERRED) 0.00
$0 $0 $157,810
RICHARD LISITANO PRESIDENT/TRUSTEE 8.00
Officer Director
$138,715 $284,504 $978,076
DENISE FIORE FORMER OFFICER 0.00
$0 $0 $547,749
KAREN DAVIS CLINICAL CARE COORDINATOR 40.00
Highest
$265,661 $42,190 $307,851
KIMBERLY DUFFICY NURSE MANAGER 40.00
Highest
$230,007 $26,855 $256,862
STEPHEN ALLEGRETTO FORMER OFFICER 0.00
$0 $0 $211,813
KARL NG CLINICAL PHARMACIST 40.00
Highest
$188,096 $23,462 $211,558
JULIA SMITH REGISTERED NURSE 40.00
Highest
$169,793 $29,621 $199,414
STACEY FIORE REGISTERED NURSE 40.00
Highest
$165,718 $33,357 $199,075
MAUREEN ANDERSON FORMER OFFICER 0.00
$0 $0 $118,596
DANIEL GACCIONE VICE CHAIRMAN AND TRUSTEE 1.00
Officer Director
$5,250 $0 $5,250
F GREGORY AHERN CHAIRMAN AND TRUSTEE 1.00
Officer Director
$0 $0 $0
DANIEL BRANNEGAN TRUSTEE 1.00
Director
$0 $0 $0
TODD BLUE TRUSTEE 1.00
Director
$0 $0 $0
NICHOLAS FORTSON TRUSTEE 1.00
Director
$0 $0 $0
JOHN HOLSTEIN TRUSTEE 1.00
Director
$0 $0 $0
KATHLEEN HOLT TRUSTEE 1.00
Director
$0 $0 $0
JAMES MAYNARD TRUSTEE 1.00
Director
$0 $0 $0
MARIE PEAKMAN TRUSTEE 1.00
Director
$0 $0 $0
SHANNA REELS TRUSTEE 1.00
Director
$0 $0 $0
VICTORIA REYES TRUSTEE 1.00
Director
$0 $0 $0
ROCCO TIMPANO TRUSTEE 1.00
Director
$0 $0 $0
CATHERINE ZALL TRUSTEE 1.00
Director
$0 $0 $0
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 $135,565,071 $152,156,601 $95,404,587 $-16,591,530
2023 $125,333,691 $145,612,405 $88,477,701 $-20,278,714
2022 $122,022,582 $127,923,831 $105,297,607 $-5,901,249
2021 $119,746,430 $114,776,115 $124,690,192 $4,970,315
2020 $83,091,800 $104,644,850 $94,690,843 $-21,553,050
2019 $76,921,470 $72,976,958 $86,621,731 $3,944,512
2018 $67,560,865 $69,445,624 $76,002,886 $-1,884,759
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