RICHMOND MEDICAL CENTER

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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

2007

Legal Domicile

Principal Officer

DANIEL J MESSINA PHD MPA

Phone

7188182036

Tax Period

2024-01-01 to 2024-12-31

RICHMOND MEDICAL CENTER, founded in 2007, is a major nonprofit in the Health Care sector that reported $461.1M in total revenue in fiscal year 2024.

Mission

THE MEDICAL CENTER IS A NOT-FOR-PROFIT HEALTH CARE PROVIDER SERVING THE ETHNICALLY DIVERSE COMMUNITY OF STATEN ISLAND AND ITS NEIGHBORS. WE PROVIDE PREMIER QUALITY PATIENT CARE THROUGH A FULL SPECTRUM OF EMERGENT, ACUTE, PRIMARY, BEHAVIORAL HEALTH AND EDUCATIONAL SERVICES. WE DO THIS IN AN ENVIRONMENT THAT PROMOTES THE HIGHEST SATISFACTION AMONG PATIENTS, FAMILIES, PHYSICIANS AND STAFF. FOR ADDITIONAL INFORMATION PLEASE REFER TO THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT INCLUDED WITHIN SCHEDULE O.

Program Service Accomplishments

Program 1

Expenses: $427,980,547 Revenue: $426,747,959

EXPENSES INCURRED IN PROVIDING INPATIENT, OUTPATIENT AND EMERGENCY MEDICALLY NECESSARY SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL...

EXPENSES INCURRED IN PROVIDING INPATIENT, OUTPATIENT AND EMERGENCY MEDICALLY NECESSARY SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT (STATEMENT OF PROGRAM SERVICES) WHICH INCLUDES DETAILED INFORMATION REGARDING THE VARIOUS SERVICES PROVIDED BY THIS ORGANIZATION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $33,494,938

Program Service Revenue $426,747,959

Investment Income $472,321

Other Revenue $372,104

TOTAL REVENUE $461,087,322

Expense Breakdown

Grants Paid $0

Salaries & Benefits $329,792,243

Fundraising Expenses $0

Program Expenses $427,980,547

Other Expenses $158,107,193

TOTAL EXPENSES $487,899,436

Year-over-Year Comparison

	2024	2023	Change
Revenue	$461,087,322	$436,285,793	+0.1%
Expenses	$487,899,436	$452,422,497	+0.1%
Net Income	$-26,812,114	$-16,136,704	+0.7%

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

2962

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

$5,517,281

Total Directors

$2,546,231

Key Employees

$2,235,796

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL J MESSINA PHD MPA	TRUSTEE - PRESIDENT & CEO	55.0	Officer Director	$1,159,086	$241,314	$1,400,400
MICHAEL F CABBAD MD	OBGYN	55.0	Highest	$864,931	$77,797	$942,728
PIETRO CARPENITO MD	EVP & CMO (TERM 5/2024)	55.0	Officer	$812,129	$46,852	$858,981
LANCE U JUNG MD	SURGEON	55.0	Highest	$759,856	$70,252	$830,108
FRANCESCO ROTATORI MD	trustee - president med staff	55.0	Officer Director	$740,913	$65,086	$805,999
LOREN HARRIS MD	CHAIRMAN DEPT OF SURGERY	55.0	Key Emp	$752,062	$31,205	$783,267
DAVID MURRAY MBA FHFMA	EVP, CFO	55.0	Officer	$595,267	$141,183	$736,450
ALEXANDER BARKAN MD	BARIATRIC SURGEON	55.0	Highest	$648,366	$80,312	$728,678
DOUGLAS S COHEN MD	STAFF PHYSICIAN	55.0	Highest	$616,131	$69,543	$685,674
ALEXANDER BEYLINSON DO	Former officer	55.0		$595,995	$47,822	$643,817
VLADIMIR RUBINSHTEYN MD	SURGEON	55.0	Highest	$611,157	$13,810	$624,967
ROSEMARIE STAZZONE RN MSN	COO & CNO	55.0	Officer	$552,010	$60,215	$612,225
Philip Otterbeck MD	Chief Medical Officer	55.0	Officer	$524,170	$45,362	$569,532
BRIAN S MOODY ESQ	SVP, LEGAL/GEN COUNSEL & CCO	55.0	Key Emp	$439,638	$76,272	$515,910
GREGORY FERNANDEZ MD MBA	SVP, Population health	55.0	Key Emp	$445,739	$64,050	$509,789
GAITRE A LORICK	VP, CHRO	55.0	Key Emp	$355,339	$71,491	$426,830
JEFFREY LIETO MBA	EVP, CSO	55.0	Officer	$304,974	$93,614	$398,588
ANA MENDEZ MD	TRUSTEE	55.0	Director	$0	$30,802	$339,832
JONATHAN ZIPKIN MD MA	EVP & COO (Eff 9/2024)	55.0	Officer	$130,920	$4,186	$135,106
TIMOTHY C HARRISON	CHAIR - TRUSTEE	1.0	Officer Director	$0	$0	$0
JOHN C SANTORA	VICE CHAIR - TRUSTEE	1.0	Officer Director	$0	$0	$0
THOMAS DELMASTRO	TREASURER - TRUSTEE	1.0	Officer Director	$0	$0	$0
JILL O'DONNELL-TORMEY PHD	SECRETARY - TRUSTEE	1.0	Officer Director	$0	$0	$0
ALLEN BROWN	TRUSTEE	1.0	Director	$0	$0	$0
KENNETH COREY	TRUSTEE	1.0	Director	$0	$0	$0
SARA WARREN GARDNER MPH	TRUSTEE	1.0	Director	$0	$0	$0
STEVEN M KLEIN	TRUSTEE	1.0	Director	$0	$0	$0
ANITA LAREMONT ESQ	TRUSTEE	1.0	Director	$0	$0	$0
WING LAW	TRUSTEE	1.0	Director	$0	$0	$0
ROSEMARIE MALDONADO ESQ	TRUSTEE	1.0	Director	$0	$0	$0
DAVID MCGOY	TRUSTEE	1.0	Director	$0	$0	$0
COURTNEY MOORE	TRUSTEE	1.0	Director	$0	$0	$0
PANKAJ R PATEL MD	TRUSTEE	1.0	Director	$0	$0	$0
FRANK SCAFURI MD	TRUSTEE	1.0	Director	$0	$0	$0
MARCELLO SCIARRINO	TRUSTEE	1.0	Director	$0	$0	$0
SAMALA SWAMY MD	TRUSTEE	1.0	Director	$0	$0	$0
JOHN TAPINIS	TRUSTEE	1.0	Director	$0	$0	$0
JOSEPH TORRES	TRUSTEE	1.0	Director	$0	$0	$0
ROBERT URS	TRUSTEE	1.0	Director	$0	$0	$0
JOHN VINCENT SCALIA SR	TRUSTEE (TERMED 2024)	1.0	Director	$0	$0	$0

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	$461,087,322	$487,899,436	$624,721,938	$-26,812,114
2023	$436,285,793	$452,422,497	$653,998,731	$-16,136,704
2022	$419,376,283	$398,412,629	$620,758,922	$20,963,654
2021	$376,664,767	$381,251,680	$435,447,032	$-4,586,913
2020	$368,556,560	$380,309,162	$394,638,891	$-11,752,602
2019	$359,868,185	$369,874,729	$296,789,651	$-10,006,544
2018	$356,924,393	$342,862,042	$255,798,298	$14,062,351
2018	$356,924,393	$342,862,042	$255,798,298	$14,062,351