Montefiore New Rochelle Hospital

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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

2013

Legal Domicile

Phone

9143498400

Tax Period

2023-01-01 to 2023-12-31

Montefiore New Rochelle Hospital, founded in 2013, is a major nonprofit in the Health Care sector that reported $167.9M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $208.5M exceeded revenue, resulting in a 24% operating deficit.

Mission

MISSION: TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES WE SERVE. VALUES: HUMANITY, INNOVATION, TEAMWORK, DIVERSITY AND EQUITY - OUR VALUES DEFINE OUR PHILOSOPHY OF CARE. THEY SHAPE OUR ACTIONS AND MOTIVATE AND INSPIRE US TO PURSUE EXCELLENCE AND ACHIEVE OUR GOALS.

Program Service Accomplishments

Program 1

Expenses: $176,419,279 Revenue: $150,965,437

PATIENT CARE THE SKILLED AND CARING STAFF AT MONTEFIORE NEW ROCHELLE HOSPITAL ARE DEDICATED TO SERVING THE DIVERSE MEDICAL NEEDS OF RESIDENTS IN SOUTHERN WESTCHESTER. OUR COMMUNITY-BASED HOSPITAL IS COMMITTED TO PROVIDING EXCEPTIONAL CARE AND FOCUSED ON PROVIDING THE BEST POSSIBLE OUTCOME FOR EACH PATIENT. TO ADVANCE THE QUALITY OF CARE IN THE COMMUNITY, WE HAVE INVESTED IN THE LATEST TECHNOLOGY, GROWN WITH LOCAL NEEDS AND ENSURED THAT WE ARE WELL EQUIPPED TO FOSTER BETTER HEALTH FOR YEARS TO COME. OUR DEDICATED PHYSICIANS, NURSES AND CAREGIVERS WORK WHERE THEY LIVE. WE ARE NEIGHBORS CARING FOR NEIGHBORS, AND ARE GRATEFUL FOR THE OPPORTUNITY TO IMPROVE HEALTH IN THE COMMUNITY. MONTEFIORE NEW ROCHELLE OFFERS A NUMBER OF LEADING-EDGE SERVICES AND PROGRAMS THAT HAVE EARNED DISTINCTION BY STATE AND NATIONAL ORGANIZATIONS FOR ACHIEVING AND MAINTAINING THE HIGHEST QUALITY OF CARE WITHIN THE SPECIALTY, INCLUDING: COMPREHENSIVE BARIATRIC SURGERY PROGRAM ACCREDITED BY MBSAQIP, THE METABOLIC AND BARIATRIC SURGERY ACCREDITATION AND QUALITY IMPROVEMENT PROGRAM, RECIPIENT OF THE GOLD SEAL OF APPROVAL FROM THE JOINT COMMISSION AS A CERTIFIED CENTER IN BOTH HIP AND KNEE JOINT REPLACEMENT, A NEW YORK STATE-DESIGNATED STROKE CENTER AND THE RECIPIENT OF HEALTHGRADES PATIENT SAFETY EXCELLENCE AWARD. NOW THE HUB OF A MEDICAL VILLAGE, MONTEFIORE NEW ROCHELLE HOSPITAL HAS EVOLVED TREMENDOUSLY OVER RECENT YEARS. WE HAVE MADE SIGNIFICANT INVESTMENTS IN EQUIPMENT AND INFRASTRUCTURE, INCLUDING THE ADDITION OF A 64-SLICE COMPUTED TOMOGRAPHY (CT) SCANNER AND FULLY-REVITALIZED STATE-OF-THE-ART EMERGENCY ROOM SERVICES WITH THREE DEDICATED AND SEPARATED SERVICE AREAS: PEDIATRICS, ADULT CARE, AND SUBSTANCE ABUSE AND BEHAVIORAL HEALTH. OUR EMERGENCY DEPARTMENT (ED) IS OPEN AND STAFFED 24 HOURS A DAY, SEVEN DAYS A WEEK FOR ALL EMERGENT MEDICAL ISSUES. WE HAVE AN EXPERIENCED STAFF OF EMERGENCY MEDICINE BOARD-CERTIFIED PHYSICIANS, PHYSICIAN ASSISTANTS AND REGISTERED NURSES DEDICATED TO PROVIDING TIMELY AND HIGH-QUALITY EMERGENCY SERVICES TO OUR DIVERSE PATIENT POPULATION. MONTEFIORE NEW ROCHELLE HOSPITAL IS AN AFFILIATE OF THE MONTEFIORE HEALTH SYSTEM, INC. THE HEALTH SYSTEM IS A LEADER IN COMMUNITY AND POPULATION HEALTH AND HAS A LONG HISTORY OF DEVELOPING INNOVATIVE APPROACHES TO CARE AND TAILORING PROGRAMS TO BEST SERVE THE CHANGING NEEDS OF ITS COMMUNITIES.

Program 2

Expenses: $22,478,176 Revenue: $11,306,006

MEDICAL AND NURSING EDUCATION THE DEPARTMENT OF MEDICINE AT NEW ROCHELLE HOSPITAL OFFERS TRAINING PROGRAMS FOR RESIDENTS AND STUDENTS THAT REFLECTS A DEEP INSTITUTIONAL AND DEPARTMENTAL COMMITMENT TO MEDICAL EDUCATION IN A SUPPORTIVE COMMUNITY-BASED ENVIRONMENT THAT PROVIDES A FULL SPECTRUM OF CARE TO A DIVERSE PATIENT POPULATION. MONTEFIORE IS THE UNIVERSITY HOSPITAL FOR ALBERT EINSTEIN COLLEGE OF MEDICINE, ONE OF THE NATION'S PREMIER INSTITUTIONS FOR MEDICAL EDUCATION, BASIC RESEARCH AND CLINICAL INVESTIGATIONS. THIS STRONG ALIGNMENT ENABLES MONTEFIORE TO ADVANCE CLINICAL AND TRANSLATIONAL RESEARCH RESULTS MORE RAPIDLY TO THE BEDSIDE AND THE MEDICAL COMMUNITY, AND EDUCATE THE NEXT GENERATION OF PHYSICIANS, HEALTHCARE LEADERS AND INVESTIGATORS. MONTEFIORE SCHOOL OF NURSING IS ON THE FOREFRONT OF NURSING EDUCATION. OUR VISION IS EXCELLENCE IN NURSING EDUCATION. LOCATED IN MOUNT VERNON, NEW YORK, THE SCHOOL IS A PRIVATE TWO-YEAR PROGRAM LEADING TO AN ASSOCIATE IN SCIENCE DEGREE. OUR NURSING PROGRAM PROVIDES THE FOUNDATION FOR OUR NURSING STUDENTS COMMITTED TO EXCELLENCE TO PREPARE TO EMBARK ON A CAREER THAT PROVIDES MANY PROFESSIONAL CHALLENGES WHILE LAYING THE FOUNDATION FOR FURTHER EDUCATION AND ADVANCEMENT. THOUGH A STRONG THEORETICAL AND CLINICALLY BASED PROGRAM, OUR NURSING GRADUATES RECEIVE THE SKILLS AND CONFIDENCE TO PROVIDE THE COMMUNITY WITH COMPETENT, QUALITY NURSING CARE. LEARNING IN A HOSPITAL ENVIRONMENT PREPARES OUR STUDENTS TO WORK IN A VARIETY OF CLINICAL SETTINGS SECURING EMPLOYMENT IN HOSPITALS, HOME HEALTHCARE, EDUCATION, LONG-TERM CARE, PUBLIC HEALTH ADMINISTRATION, FORENSIC NURSING, OCCUPATIONAL HEALTH AND RESEARCH.

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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 $4,163,998

Program Service Revenue $162,271,443

Investment Income $713,739

Other Revenue $791,034

TOTAL REVENUE $167,940,214

Expense Breakdown

Grants Paid $0

Salaries & Benefits $116,608,177

Fundraising Expenses $0

Program Expenses $198,897,455

Other Expenses $91,928,175

TOTAL EXPENSES $208,536,352

Year-over-Year Comparison

	2023	2022	Change
Revenue	$167,940,214	$189,961,831	-0.1%
Expenses	$208,536,352	$202,547,108	+0.0%
Net Income	$-40,596,138	$-12,585,277	+2.2%

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

Governance

Voting Members

Independent Members

Employees

1190

Volunteers

120

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

$21,913,035

Total Directors

$16,361,629

Key Employees

$3,342,299

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	SECRETARY	0.4	Officer Director	$0	$0	$0
N/A	VICE CHAIR	0.4	Officer Director	$0	$0	$0
N/A	TREASURER	0.3	Officer Director	$0	$0	$0
N/A	CHAIRMAN	0.5	Officer Director	$0	$0	$0
N/A	PRESIDENT & CEO	5.0	Officer Director	$0	$46,776	$16,361,629
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.3	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.3	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE (RESIGNED 1/24/2023)	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.3	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.3	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.3	Director	$0	$0	$0
N/A	TRUSTEE	0.3	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.3	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	TRUSTEE	0.2	Director	$0	$0	$0
N/A	ASSISTANT SECRETARY	5.0	Officer	$0	$46,882	$1,872,945
N/A	EXEC VP & CFO	5.0	Officer	$0	$29,882	$3,678,461
N/A	VP & EXEC DIRECTOR MNR	60.0	Key Emp	$0	$46,952	$582,739
N/A	SYSTEM SENIOR VP-OPERATIONS	5.0	Key Emp	$0	$46,906	$2,759,560
N/A	PHYSICIAN-OBSTETRIC	50.0	Highest	$598,802	$37,520	$636,322
N/A	PHYSICIAN-ORTHOPEDIC SURGERY	50.0	Highest	$517,620	$42,642	$560,262
N/A	PHYSICIAN-GASTROENTROLOGY	50.0	Highest	$536,112	$40,968	$577,080
N/A	DIRECTOR, VASCULAR LAB	50.0	Highest	$441,005	$37,022	$478,027
N/A	CHIEF, ORTHOPEDIC SURGERY	50.0	Highest	$547,577	$36,598	$584,175

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	No data	No data	No data	No data
2023	$167,940,214	$208,536,352	$120,367,220	$-40,596,138
2022	$189,961,831	$202,547,108	$129,121,192	$-12,585,277
2021	$194,108,442	$191,577,876	$123,957,178	$2,530,566
2020	$208,366,782	$192,410,354	$150,698,233	$15,956,428
2019	$195,296,318	$192,448,636	$139,982,028	$2,847,682
2018	$187,764,718	$174,110,930	$116,454,583	$13,653,788