VERITY HEALTH SYSTEM OF CALIFORNIA… - Form 990 Financial Data

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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

2001

Legal Domicile

Principal Officer

HOWARD B GROBSTEIN

Phone

8185321020

Tax Period

2021-07-01 to 2022-06-30

Mission

VERITY HEALTH SYSTEM OF CALIFORNIA, INC. ("VHS") WAS ORGANIZED AND OPERATED TO SUPPORT THE AFFILIATED HEALTHCARE FACILITIES BY 1) MAINTAINING ACUTE CARE HOSPITALS, MEDICAL CLINICS, MEDICAL FOUNDATIONS AND RELATED FACILITIES AND ENTERPRISES. 2) PROMOTED SCIENTIFIC RESEARCH RELATED TO HEALTHCARE SERVICES, 3) MAINTAINED HEALTHCARE ENTERPRISES USING SYSTEMS DESIGNED TO MAXIMIZE BENEFITS TO THE COMMUNITIES SERVED, 4) PROMOTED THE GENERAL HEALTH OF THE COMMUNITIES SERVED BY VERITY AND ITS AFFILIATED HEALTHCARE FACILITIES, AND, 5) PROVIDED FINANCIAL AND OTHER FORMS OF ASSISTANCE FOR THE BENEFIT OF ITS AFFILIATED HEALTHCARE FACILITIES AND THE COMMUNITIES THEY SERVED.

Program Service Accomplishments

Program 1

Expenses: $2,401,937 Revenue: $0

THE ENTITY HAS BEEN WOUND DOWN FOR EVENTUAL DISSOLUTION.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,401,937

Other Expenses $2,401,937

TOTAL EXPENSES $2,401,937

Year-over-Year Comparison

	2021	2020	Change
Revenue	N/A	N/A	N/A
Expenses	$2,401,937	N/A	N/A
Net Income	N/A	$0	N/A

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOWARD B GROBSTEIN	LIQUIDATING TRUSTEE	1.00	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
2022	No data	$2,401,937	No data	No data
2021	$34,470,055	$21,772,063	$49,558,037	$12,697,992
2020	$185,770,779	$172,308,386	$1,122,086,987	$13,462,393
2019	$191,573,751	$230,020,722	$1,129,323,508	$-38,446,971
2018	$189,849,202	$242,639,413	$942,938,461	$-52,790,211

VERITY HEALTH SYSTEM OF CALIFORNIA INC HOWARD B GROBSTEIN LIQUIDATING TRUSTEE