Variety Children's 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

1950

Legal Domicile

Phone

3056666511

Tax Period

2023-01-01 to 2023-12-31

Variety Children's Hospital, founded in 1950, is a major nonprofit in the Health Care sector that reported $974.6M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $156.4M, a strong 16% operating margin.

Mission

TO INSPIRE HOPE AND PROMOTE LIFELONG HEALTH BY PROVIDING THE BEST CARE TO EVERY CHILD.

Program Service Accomplishments

Program 1

Expenses: $653,240,100 Revenue: $898,905,067

VARIETY CHILDREN'S HOSPITAL, ESTABLISHED IN 1950, OWNS AND OPERATES A PEDIATRIC SPECIALTY HOSPITAL NOW KNOWN AS NICKLAUS CHILDREN'S HOSPITAL. THE HOSPITAL IS ONE OF THE LARGEST FREESTANDING PEDIATRIC TEACHING HOSPITALS IN THE SOUTHEASTERN UNITED STATES. IT PROVIDES SPECIALIZED PEDIATRIC HEALTHCARE FOR CHILDREN REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, AGE, OR ABILITY TO PAY. THE HOSPITAL HAS 307 LICENSED BEDS. NICKLAUS CHILDREN'S HOSPITAL SERVES AS A REFERRAL CENTER FOR CHILDREN WITH COMPLEX, CRITICAL, OR LIFE-THREATENING ILLNESSES REQUIRING SPECIALIZED CARE. IT HAS A STATE-DESIGNATED PEDIATRIC TRAUMA CENTER. MANY PATIENTS ARE REFERRED BY OTHER HOSPITALS REGARDLESS OF THE EXISTENCE OF FORMAL ARRANGEMENTS. (CONTINUED ON SCHEDULE O)

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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 $35,265,380

Program Service Revenue $898,905,067

Investment Income $24,940,217

Other Revenue $15,447,067

TOTAL REVENUE $974,557,731

Expense Breakdown

Grants Paid $0

Salaries & Benefits $287,878,757

Fundraising Expenses $0

Program Expenses $653,240,100

Other Expenses $530,249,846

TOTAL EXPENSES $818,128,603

Year-over-Year Comparison

	2023	2022	Change
Revenue	$974,557,731	$816,902,265	+0.2%
Expenses	$818,128,603	$720,139,264	+0.1%
Net Income	$156,429,128	$96,763,001	+0.6%

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

3805

Volunteers

1145

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

$4,692,419

Total Directors

$3,367,251

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	SECRETARY / DIRECTOR	0.1	Officer Director	$0	$0	$0
N/A	Vice Chairman / Director	0.1	Officer Director	$0	$0	$0
N/A	CHAIRMAN / DIRECTOR	0.1	Officer Director	$0	$0	$0
N/A	President & CEO	20.0	Officer Director	$0	$247,368	$1,730,719
N/A	SVP / COO NCHS & President NCH	40.0	Officer Director	$773,619	$122,072	$895,691
N/A	DIRECTOR	0.1	Director	$0	$0	$0
N/A	Director	0.1	Director	$0	$0	$0
N/A	DIRECTOR (THRU MARCH 2023)	0.1	Director	$0	$0	$0
N/A	EMERITUS DIRECTOR	0.1	Director	$0	$0	$0
N/A	DIRECTOR (THRU JUNE 2023)	0.1	Director	$0	$0	$0
N/A	Director	0.1	Director	$0	$0	$0
N/A	DIRECTOR (THRU MARCH 2023)	0.1	Director	$0	$0	$0
N/A	Director	0.1	Director	$0	$0	$0
N/A	Director	0.1	Director	$0	$0	$0
N/A	DIRECTOR / Acting Chief Med Ops Officer	40.0	Director	$615,450	$73,391	$688,841
N/A	Director	0.1	Director	$52,000	$0	$52,000
N/A	DIRECTOR (THRU JUNE 2023)	0.1	Director	$0	$0	$0
N/A	Director	0.1	Director	$0	$0	$0
N/A	Interim Chief Operating Officer	40.0	Officer	$409,032	$36,358	$445,390
N/A	SVP / CFO Health System	20.0	Officer	$0	$115,190	$976,279
N/A	SVP & General Counsel	20.0	Officer	$0	$92,549	$644,340
N/A	VP, OPERATIONS	40.0	Highest	$374,832	$32,933	$407,765
N/A	Exec Dir Med Ed & DEI Lead	40.0	Highest	$341,177	$15,943	$357,120
N/A	Sr Med Dir Advanced Proj Lab	40.0	Highest	$355,457	$24,953	$380,410
N/A	Executive Med Director	40.0	Highest	$395,758	$27,765	$423,523
N/A	VP & NCH Chief Nursing Officer	40.0	Highest	$420,693	$38,630	$459,323
N/A	Exec Med Director Clinical Ops (FORMER OFFICER)	0.0		$422,271	$26,572	$448,843
N/A	SVP Admin / Special Projects (FORMER OFFICER)	0.0		$0	$74,670	$679,938

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	$974,557,731	$818,128,603	$1,637,315,414	$156,429,128
2022	$816,902,265	$720,139,264	$1,488,947,366	$96,763,001
2021	$776,970,014	$671,519,701	$1,508,530,392	$105,450,313
2020	$598,482,947	$554,072,694	$1,198,214,522	$44,410,253
2019	$644,811,272	$645,022,237	$1,194,010,801	$-210,965
2018	$657,982,918	$606,817,946	$1,165,532,000	$51,164,972