Baptist Hospital of Miami Inc

EIN: 590910342 501(c)(3) Health Care

Miami, FL

Total Revenue
$2,645,202,023
Total Expenses
$2,096,035,168
Total Assets
$1,410,762,911
Net Assets
$619,440,567
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1956
Legal Domicile
FL
Phone
7866627000
Tax Period
2023-10-01 to 2024-09-30

Baptist Hospital of Miami Inc, founded in 1956, is a large national nonprofit in the Health Care sector that reported $2.6B in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $549.2M, a strong 21% operating margin.

Mission

AS PART OF THE BAPTIST HEALTH NETWORK, THE MISSION OF BAPTIST HOSPITAL OF MIAMI IS TO IMPROVE THE HEALTH AND WELL-BEING OF INDIVIDUALS, AND TO PROMOTE THE SANCTITY AND PRESERVATION OF LIFE, IN THE COMMUNITIES WE SERVE. BAPTIST HEALTH IS A FAITH-BASED ORGANIZATION GUIDED BY THE SPIRIT OF JESUS CHRIST AND THE JUDEO-CHRISTIAN ETHIC. WE ARE COMMITTED TO MAINTAINING THE HIGHEST STANDARDS OF CLINICAL AND SERVICE EXCELLENCE, ENHANCED THROUGH TEACHING, RESEARCH AND INNOVATION, AND ROOTED IN THE UTMOST INTEGRITY AND MORAL PRACTICE. CONSISTENT WITH ITS SPIRITUAL FOUNDATION, BAPTIST HEALTH IS DEDICATED TO PROVIDING HIGH-QUALITY, COST-EFFECTIVE, COMPASSIONATE HEALTHCARE SERVICES TO ALL, REGARDLESS OF RELIGION, CREED, RACE OR NATIONAL ORIGIN, INCLUDING, AS PERMITTED BY ITS RESOURCES, CHARITY CARE TO THOSE IN NEED.

Program Service Accomplishments

Program 1
Expenses: $1,866,442,298 Revenue: $2,630,722,803

DURING 2023, THE INDIVIDUALS LISTED RECEIVED A SEVERANCE PAYMENT. SUCH AMOUNTS WERE TREATED AS TAXABLE COMPENSATION. - PATRICIA ROSELLO $40,154 - FAITH SOLKOFF $70,019

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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 $1,519,022
Program Service Revenue $2,629,816,347
Investment Income $2,673,325
Other Revenue $11,193,329
TOTAL REVENUE $2,645,202,023

Expense Breakdown

Grants Paid $0
Salaries & Benefits $554,852,277
Fundraising Expenses $0
Program Expenses $1,866,442,298
Other Expenses $1,541,182,891
TOTAL EXPENSES $2,096,035,168

Year-over-Year Comparison

2023 2022 Change
Revenue $2,645,202,023 $2,279,643,696 +0.2%
Expenses $2,096,035,168 $1,893,361,379 +0.1%
Net Income $549,166,855 $386,282,317 +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

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Liquidity & Cash Position

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

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Governance

Voting Members
15
Independent Members
15
Employees
6842
Volunteers
144

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
2
$2,112,481
Total Directors
15
$3,183
Key Employees
5
$4,029,632
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Angie Spivak-Lopez Director 2.0
Director
$0 $0 $0
Calvin H Babcock Chairman 2.0
Director
$0 $0 $0
Carmen Perez-Carlton Director 2.0
Director
$0 $0 $0
Charlie Martinez Director 2.0
Director
$0 $0 $0
Elizabeth Diaz De Villegas Director 2.0
Director
$0 $0 $0
Juan C Cendan MD Director - Beg 01/2024 2.0
Director
$0 $0 $0
Lani Kahn Drody Director 2.0
Director
$0 $0 $0
Laura Kaplan Director - Beg 01/2024 2.0
Director
$0 $0 $0
Manuel Lasaga Director 2.0
Director
$0 $0 $0
Maria Camila Leiva Director 2.0
Director
$0 $0 $0
Orlando Bajos Director 2.0
Director
$0 $0 $0
Rev Dr Gary Johnson Director 2.0
Director
$0 $0 $0
Rev Dr Rick Martinez Director 2.0
Director
$0 $0 $0
Rev Dr William W White Director 2.0
Director
$0 $0 $3,183
Stephen A Blumenthal Director 2.0
Director
$0 $0 $0
Edward G Shashaty VP Finance Hospital Operations 12.0
Officer
$0 $136,725 $743,190
William G Ulbricht CEO 50.0
Officer
$0 $175,492 $1,369,291
Arlenna Williams VP 50.0
Key Emp
$599,051 $24,926 $623,977
Harold Girado VP Nursing 50.0
Key Emp
$612,149 $140,322 $752,471
Maday Rafuls VP 50.0
Key Emp
$511,420 $118,767 $630,187
Nathaniel Ortiz COO 50.0
Key Emp
$715,733 $167,067 $882,800
Sergio Segarra MD VP Medical Affairs 50.0
Key Emp
$920,736 $219,461 $1,140,197
Elaine Diaz Medical Director Care Mgmt 45.0
Highest
$270,061 $17,464 $287,525
Hector Delgado AVP Surgical Services 45.0
Highest
$249,774 $43,403 $293,177
Kesnel Neree Respiratory Supervisor 45.0
Highest
$254,306 $41,610 $295,916
Kristin Annette Morris Heath Dir Rad Oncology 45.0
Highest
$245,743 $16,717 $262,460
Martin J MacKechnie Mgr Perfusion Service 45.0
Highest
$263,024 $28,673 $291,697
Faith Solkoff Former VP 0.0
$0 $27,882 $696,748
Patricia Rosello Former CEO 0.0
$0 $124,424 $2,296,858
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 $2,645,202,023 $2,096,035,168 $1,410,762,911 $549,166,855
2023 $2,279,643,696 $1,893,361,379 $1,352,227,497 $386,282,317
2022 $2,057,768,191 $1,785,774,340 $1,320,828,229 $271,993,851
2021 $1,982,048,142 $1,690,005,045 $1,278,487,143 $292,043,097
2020 $1,678,246,464 $1,513,986,654 $1,183,316,127 $164,259,810
2019 $1,717,731,038 $1,435,509,393 $1,106,590,034 $282,221,645
2018 $1,472,707,783 $1,328,973,466 $1,016,530,574 $143,734,317
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