PENN STATE HEALTH (EIN 473769205) - Form 990 Financial Analysis & Trantor Score

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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

2014

Legal Domicile

Principal Officer

DEBORAH ADDO

Phone

7175318477

Tax Period

2023-07-01 to 2024-06-30

PENN STATE HEALTH, founded in 2014, is a major nonprofit in the Health Care sector that reported $866.0M in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. Expenses of $1.0B exceeded revenue, resulting in a 19% operating deficit.

Mission

TO CONTINUALLY IMPROVE THE HEALTH AND WELL-BEING OF THE PEOPLE OF PENNSYLVANIA, AND BEYOND.

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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 $743,613

Program Service Revenue $773,691,912

Investment Income $37,108,949

Other Revenue $54,476,429

TOTAL REVENUE $866,020,903

Expense Breakdown

Grants Paid $72,506,613

Salaries & Benefits $593,497,944

Fundraising Expenses $0

Program Expenses $847,828,163

Other Expenses $367,755,979

TOTAL EXPENSES $1,033,760,536

Year-over-Year Comparison

	2023	2022	Change
Revenue	$866,020,903	$601,230,428	+0.4%
Expenses	$1,033,760,536	$881,341,749	+0.2%
Net Income	$-167,739,633	$-280,111,321	-0.4%

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

5359

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

$4,591,870

Total Directors

$4,885,791

Key Employees

$3,275,743

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN MASSINI	DIRECTOR / CEO	48.00	Officer Director	$1,600,902	$68,408	$1,669,310
NEELI BENDAPUDI	DIRECTOR (PSU EMP)	1.00	Director	$0	$56,351	$1,434,827
KEVIN P BLACK MD	DIRECTOR / DEAN (THRU 8/23)	1.00	Director	$0	$51,975	$803,960
DR SARA THORNDIKE	DIRECTOR (PSU EMP)	1.00	Director	$0	$51,574	$600,157
DR KAREN KIM	DIRECTOR / DEAN (AS OF 9/23)	1.00	Director	$0	$45,830	$377,537
KEITH MASSER	CHAIR / DIRECTOR	1.00	Officer Director	$0	$0	$0
MARK DAMBLY	VICE CHAIR / DIRECTOR	1.00	Officer Director	$0	$0	$0
TIMOTHY P BROWN	DIRECTOR	1.00	Director	$0	$0	$0
PETER M CARLINO	DIRECTOR	1.00	Director	$0	$0	$0
TONY FARAH	DIRECTOR	1.00	Director	$0	$0	$0
KAREN HANLON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID KLEPPINGER	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH RICE-JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
BARRY ROBINSON	DIRECTOR	1.00	Director	$0	$0	$0
PETER G TOMBROS	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN WAGMAN	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH ADDO	PRESIDENT / COO	43.00	Officer	$989,928	$112,426	$1,102,354
PAULA TINCH	EVP & CFO, TREASURER	48.00	Officer	$770,936	$113,925	$884,861
NICOLE LEHMAN	INTERIM SEC. (PSU EMP)	1.00	Officer	$0	$103,230	$366,966
ROSS DARROW	ASSOC. TREAS / VP TREAS - FINANCE	44.00	Officer	$297,918	$66,026	$363,944
KATHLEEN MILLER	ASSOC. SECRETARY (THRU 5/24)	33.00	Officer	$101,559	$11,101	$112,660
ANN ALLWEIN	INTERIM ASSOC. SEC. (AS OF 5/24)	33.00	Officer	$77,372	$14,403	$91,775
PETER DILLON MD	PRN PHYSICIAN LEADER (THRU 12/23)	50.00	Key Emp	$538,613	$32,393	$571,006
THOMAS STOESSEL	EXEC VP & CHIEF STRATEGY OFFICER	45.00	Key Emp	$741,755	$68,408	$810,163
CLETIS EARLE	SENIOR VP & CIO	40.00	Key Emp	$582,929	$94,814	$677,743
JUDITH HLAFCSAK	CHIEF OF STAFF	38.00	Key Emp	$575,663	$78,793	$654,456
KIMBERLY LANSFORD	CHIEF COMPLIANCE AND BUSINESS RISK	40.00	Key Emp	$500,387	$61,988	$562,375
ROLINE ADOLPHINE	PHYSICIAN	40.00	Highest	$1,098,941	$35,006	$1,133,947
LANCE WOOD MD	PHYSICIAN	40.00	Highest	$1,023,663	$67,683	$1,091,346
DANIEL LODGE	PHYSICIAN	40.00	Highest	$947,796	$51,070	$998,866
IAN WILHELM	PHYSICIAN	40.00	Highest	$936,306	$45,637	$981,943
DENNIS DURYEA	PHYSICIAN	40.00	Highest	$927,763	$52,333	$980,096
DR ERIC BARRON	FMR DIRECTOR (PSU EMP) (THRU 5/22)	0.00		$0	$40,407	$647,052

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	$866,020,903	$1,033,760,536	$1,637,318,794	$-167,739,633
2023	$601,230,428	$881,341,749	$1,460,460,820	$-280,111,321
2022	$528,411,422	$716,043,116	$1,585,838,588	$-187,631,694
2021	$534,372,914	$612,082,108	$1,838,675,424	$-77,709,194
2020	$424,892,556	$527,247,411	$2,010,298,637	$-102,354,855
2019	$301,760,919	$428,422,773	$1,277,843,609	$-126,661,854
2018	$226,079,946	$243,243,032	$418,101,541	$-17,163,086

PENN STATE HEALTH