RIVERBEND MEDICAL GROUP INC

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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

2016

Legal Domicile

Principal Officer

DEBORAH BITSOLI

Phone

8607144000

Tax Period

2022-07-01 to 2023-06-30

RIVERBEND MEDICAL GROUP INC, founded in 2016, is a mid-sized nonprofit in the Health Care sector that reported $75.0M in total revenue in fiscal year 2022. Expenses of $94.6M exceeded revenue, resulting in a 26% operating deficit.

Mission

WE, TRINITY HEALTH OF NEW ENGLAND AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES. RIVERBEND MEDICAL GROUP IS A MEMBER OF TRINITY HEALTH OF NEW ENGLAND AND TRINITY HEALTH.

Program Service Accomplishments

Program 1

Expenses: $87,325,297 Revenue: $74,874,845

RIVERBEND MEDICAL GROUP IS A MULTISPECIALTY GROUP OF PRIMARY CARE PHYSICIANS AND SPECIALISTS PROVIDING DIRECT PATIENT CARE THROUGHOUT THE PIONEER VALLEY. RIVERBEND MEDICAL GROUP ALSO OFFERS URGENT...

RIVERBEND MEDICAL GROUP IS A MULTISPECIALTY GROUP OF PRIMARY CARE PHYSICIANS AND SPECIALISTS PROVIDING DIRECT PATIENT CARE THROUGHOUT THE PIONEER VALLEY. RIVERBEND MEDICAL GROUP ALSO OFFERS URGENT CARE SERVICES FOR PEDIATRICS AND INTERNAL MEDICINE, WHICH MAKES PHYSICIAN SERVICES AVAILABLE TO THE PUBLIC DURING HOURS WHEN RIVERBEND MEDICAL GROUP'S OTHER OFFICES ARE NOT OPEN. RIVERBEND MEDICAL GROUP PROVIDES ESSENTIAL PHYSICIAN SERVICES TO THE MERCY HOSPITAL, AN AFFILIATED SECTION 501(C)(3) HOSPITAL, AS PART OF AN INTEGRATED DELIVERY SYSTEM THAT INCLUDES THE MERCY HOSPITAL AND TRINITY HEALTH OF NEW ENGLAND. RIVERBEND MEDICAL GROUP PARTICIPATES IN MEDICARE AND MEDICAID PLANS AND OPERATES UNDER A CHARITY CARE POLICY THAT MAKES PHYSICIAN SERVICES AVAILABLE TO INDIVIDUALS WHO DO NOT HAVE INSURANCE OR MEDICAID COVERAGE AND ARE UNABLE TO PAY FOR MEDICAL SERVICES. RIVERBEND MEDICAL GROUP PROVIDES NUMEROUS ADDITIONAL SERVICES TO THE COMMUNITY, INCLUDING PARTICIPATING IN THE EDUCATION OF HEALTH CARE PROFESSIONALS AND PARTICIPATING IN COMMUNITY WELLNESS AND HEALTH FAIRS AND PUBLIC SCREENING EVENTS. PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION: WWW.TRINITYHEALTHOFNE.ORG/MEDICALGROUP

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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 (2022)

Revenue Breakdown

Contributions & Grants $76,000

Program Service Revenue $71,712,600

Investment Income $0

Other Revenue $3,250,575

TOTAL REVENUE $75,039,175

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,926,536

Fundraising Expenses $0

Program Expenses $87,325,297

Other Expenses $21,680,625

TOTAL EXPENSES $94,607,161

Year-over-Year Comparison

	2022	2021	Change
Revenue	$75,039,175	$77,757,403	0.0%
Expenses	$94,607,161	$96,083,522	0.0%
Net Income	$-19,567,986	$-18,326,119	+0.1%

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

N/A

Employees

809

Volunteers

N/A

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

$1,288,652

Total Directors

$1,887,065

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FREDERIK PENNINGS MD	NEUROSURGEON	50.00	Highest	$1,095,143	$45,405	$1,140,548
NATASHA MCKAY MD	NEUROSURGEON	50.00	Highest	$670,764	$43,493	$900,212
LAKI ROUSOU MD	THORACIC SURGEON	50.00	Highest	$823,171	$38,912	$862,083
ELIE SEMAAN MD	VASCULAR SURGEON	50.00	Highest	$809,624	$44,224	$853,848
DEBORAH BITSOLI	DIRECTOR; PRESIDENT; CHAIR	1.00	Officer Director	$0	$143,204	$839,145
MARK SPRAGUE MD	MEDICAL DIRECTOR - ORTHOPEDICS	50.00	Highest	$763,188	$39,413	$802,601
UGO UWAOMA MD	FORMER OFFICER	0.00		$0	$19,166	$644,134
ROBERT ROOSE MD	DIR; MERCY HOSPITAL CHIEF ADMIN OFFR	1.00	Director	$0	$52,001	$598,413
ANNE SHAIN MD	FORMER OFFICER; PHYSICIAN	0.00		$447,811	$49,585	$497,396
MIKE RYAN	DIR, SEC, TREAS; REG VP OF FINANCE	1.00	Officer Director	$0	$47,016	$449,507
DANIEL KEENAN	FORMER OFFICER; SVP GOV'T RELATIONS	0.00		$0	$55,840	$378,599
JAMES HARRIS	FMR OFFICER; TH OF NE DIR OF REIMB	0.00		$0	$45,875	$272,017

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	No data	No data	No data	No data
2023	$75,039,175	$94,607,161	$44,506,949	$-19,567,986
2022	$77,757,403	$96,083,522	$24,586,371	$-18,326,119
2021	$79,136,348	$85,848,954	$29,434,507	$-6,712,606
2020	$66,323,317	$83,829,056	$33,011,946	$-17,505,739
2019	$81,191,006	$96,670,337	$24,571,121	$-15,479,331
2018	$77,683,161	$92,591,637	$22,534,917	$-14,908,476