SALEM COUNTY HOSPITAL CORP

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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

2018

Legal Domicile

Principal Officer

AMY MANSUE

Phone

8569351000

Tax Period

2023-01-01 to 2023-12-31

SALEM COUNTY HOSPITAL CORP, founded in 2018, is a mid-sized nonprofit that reported $30.8M in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $44.5M exceeded revenue, resulting in a 45% operating deficit.

Mission

PRIOR TO ITS STATUTORY MERGER ON OCTOBER 1, 2023, TO DELIVER HIGH QUALITY, COMPASSIONATE HEALTHCARE TO GREATER SALEM COUNTY. SALEM MEDICAL CENTER PROVIDES EMERGENCY AND MEDICALLY NECESSARY HEALTHCARE SERVICES TO INDIVIDUALS IN THE COMMUNITY REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION OR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $40,079,068 Revenue: $25,301,353

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, SEXUAL ORIENTATION 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 (2023)

Revenue Breakdown

Contributions & Grants $5,356,642

Program Service Revenue $25,301,353

Investment Income $0

Other Revenue $133,356

TOTAL REVENUE $30,791,351

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,097,622

Fundraising Expenses $0

Program Expenses $40,079,068

Other Expenses $27,434,674

TOTAL EXPENSES $44,532,296

Year-over-Year Comparison

	2023	2022	Change
Revenue	$30,791,351	$62,728,632	-0.5%
Expenses	$44,532,296	$51,444,149	-0.1%
Net Income	$-13,740,945	$11,284,483	-2.2%

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

414

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

$2,586,900

Total Directors

$2,003,205

Key Employees

$2,006,033

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Amy Mansue	Trustee - President & CEO	55.0	Officer Director	$0	$350,191	$1,958,482
MATTHEW K DOONAN ESQ	SVP & Chief Legal Officer	55.0	Key Emp	$0	$122,495	$667,059
David Yhlen	Chief Operating Officer	55.0	Officer	$0	$39,920	$628,418
Lydia Stockman RN MHA	SVP & CAO	55.0	Key Emp	$0	$120,244	$621,761
Jaymica Patel MD	CMO	55.0	Key Emp	$0	$62,680	$485,683
Brandi Ortiz	CT Tech II	55.0	Highest	$151,849	$53,994	$251,011
Dodi K Baldwin RN	Registered Nurse	55.0	Highest	$144,717	$53,014	$242,853
Justine C Murphy BSHA RN	CNO	55.0	Key Emp	$151,814	$42,489	$231,530
David Marini	Pharmacist	55.0	Highest	$124,306	$55,883	$220,630
ZACHARY PETERSON	CT TECH II	55.0	Highest	$114,662	$11,238	$164,959
JAMES PIPER	AVP Support Services	55.0	Highest	$125,501	$586	$160,738
Glenn Dragon MD	Trustee; Ex-Off (TERM 10/2023)	25.0	Director	$0	$0	$44,723
James M Bonner DO	Chair - Trustee	1.0	Officer Director	$0	$0	$0
Herbert J Konrad	Vice Chair - Trustee	1.0	Officer Director	$0	$0	$0
Pamela S Clark	Secretary/Treasuer - Trustee	1.0	Officer Director	$0	$0	$0
Manish Dadhania MD	Trustee	1.0	Director	$0	$0	$0
Dawn E Flitcraft	Trustee	1.0	Director	$0	$0	$0
Ronald Rossi	Trustee	1.0	Director	$0	$0	$0
Elizabeth A Ryan Esq	Trustee	1.0	Director	$0	$0	$0
Shelly O Schneider EdD	Trustee	1.0	Director	$0	$0	$0
Hugh J McCaffrey	Trustee (TERM 4/2023)	1.0	Director	$0	$0	$0
Andrew P Zinn MD	Trustee (TERM 10/2023)	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
2023	$30,791,351	$44,532,296	No data	$-13,740,945
2022	$62,728,632	$51,444,149	$52,503,427	$11,284,483
2021	$50,205,745	$64,053,780	$36,972,962	$-13,848,035
2020	$58,732,123	$63,930,817	$44,372,450	$-5,198,694
2020	$62,429,280	$63,850,965	$48,186,758	$-1,421,685
2019	$53,166,511	$54,128,427	$26,087,820	$-961,916