Boca Raton Regional Hospital Inc

EIN: 591006663 501(c)(3) Health Care

BOCA RATON, FL

Total Revenue
$837,151,455
Total Expenses
$790,210,347
Total Assets
$1,397,474,471
Net Assets
$632,404,883
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
FL
Phone
7866627000
Tax Period
2023-10-01 to 2024-09-30

Boca Raton Regional Hospital Inc, founded in 1967, is a major nonprofit in the Health Care sector that reported $837.2M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $790.2M left a modest 6% surplus.

Mission

AS PART OF THE BAPTIST HEALTH NETWORK, THE MISSION OF BOCA RATON REGIONAL HOSPITAL 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: $696,094,899 Revenue: $751,398,090

The following individuals received a severance payment in FY2024. Such amounts were paid pursuant to their employment contract. - Mindy Shikiar, Former COO - $142,500 - Amy Cole, Former COO - $141,539

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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 $74,064,103
Program Service Revenue $750,854,465
Investment Income $2,277,692
Other Revenue $9,955,195
TOTAL REVENUE $837,151,455

Expense Breakdown

Grants Paid $8,100
Salaries & Benefits $261,709,874
Fundraising Expenses $0
Program Expenses $696,094,899
Other Expenses $528,492,373
TOTAL EXPENSES $790,210,347

Year-over-Year Comparison

2023 2022 Change
Revenue $837,151,455 $720,562,378 +0.2%
Expenses $790,210,347 $708,112,381 +0.1%
Net Income $46,941,108 $12,449,997 +2.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
23
Independent Members
23
Employees
3348
Volunteers
325

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
$2,344,951
Total Directors
23
$1,844
Key Employees
4
$2,390,832
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Adam Hasner Director 2.0
Director
$0 $0 $0
Ana Maria Restrepo Director 2.0
Director
$0 $0 $0
CARRIE RUBIN Director 2.0
Director
$0 $0 $0
CHRISTINE E LYNN Director 2.0
Director
$0 $0 $0
CHRISTOPHER WHEELER Director 2.0
Director
$0 $0 $0
CLARA BENNETT Director - Beg 02/2024 2.0
Director
$0 $0 $0
DAVID A KIRSCHNER Director 2.0
Director
$0 $0 $0
Ira Lazar MD Director 2.0
Director
$0 $0 $0
J RICHARD DAMRON JR Director 2.0
Director
$0 $0 $0
Jay A Hershoff ESQ Director 2.0
Director
$0 $0 $1,844
Jeffery Hollander Director 2.0
Director
$0 $0 $0
Jerry Glassman Director 2.0
Director
$0 $0 $0
Keith O'Donnell Director 2.0
Director
$0 $0 $0
Lawrence Altschul Director 2.0
Director
$0 $0 $0
Lawrence Feldman Director 2.0
Director
$0 $0 $0
Michael Gross Director 2.0
Director
$0 $0 $0
PATRICIA THOMAS Director 2.0
Director
$0 $0 $0
Ralph Lawson Director 2.0
Director
$0 $0 $0
Rob Sands DIRECTOR 2.0
Director
$0 $0 $0
Ron Assaf Director 2.0
Director
$0 $0 $0
Sophia Eccleston Director 2.0
Director
$0 $0 $0
STANLEY L BARRY EX-OFFICIO MEMBER - CHAIR OF BOARD OF DIRECTORS OF BRRH FOUNDATION 2.0
Director
$0 $0 $0
WARREN ORLANDO Director 2.0
Director
$0 $0 $0
Keith M Nilsson Regional VP of Finance 25.0
Officer
$0 $166,435 $956,139
Lincoln S Mendez CEO 48.0
Officer
$0 $65,724 $1,388,812
Brian Altschuler VP 50.0
Key Emp
$370,280 $81,479 $451,759
Haroula P Norden COO 50.0
Key Emp
$453,376 $120,211 $573,587
Melissa Durbin Chief Nursing Officer 50.0
Key Emp
$471,923 $106,894 $578,817
Samer Fahmy CMO - End 10/1/2023 50.0
Key Emp
$386,626 $168,507 $786,669
Ilan Alhadeff AVP Medical Svcs and Care Mgmt 45.0
Highest
$442,134 $41,831 $483,965
Louise Morrell Silberstein MD Chief Medical Executive LCI 45.0
Highest
$990,167 $43,544 $1,033,711
Marcella E Gravalese VP BHMG North 45.0
Highest
$397,140 $97,113 $494,253
Mark Larkin President of BRRH Foundation, Inc 45.0
Highest
$666,179 $143,472 $809,651
Suresh Rana Dir Medical Physics 45.0
Highest
$320,453 $40,195 $360,648
Amy Cole Former COO 0.0
$173,683 $0 $173,683
Mindy Shikiar Former COO 0.0
$197,369 $0 $197,369
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 $837,151,455 $790,210,347 $1,397,474,471 $46,941,108
2023 $720,562,378 $708,112,381 $1,151,692,791 $12,449,997
2022 $660,403,867 $688,875,712 $986,057,805 $-28,471,845
2021 $654,580,710 $614,964,623 $864,783,729 $39,616,087
2020 $582,251,934 $557,980,747 $780,179,658 $24,271,187
2019 $565,753,212 $529,074,953 $750,437,696 $36,678,259
2018 $515,082,360 $487,736,889 $677,175,543 $27,345,471
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