O'CONNOR HOSPITAL

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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 GROBSTEIN

Phone

8185321020

Tax Period

2020-07-01 to 2021-06-30

O'CONNOR HOSPITAL, founded in 2001, is a small nonprofit that reported $144K in total revenue in fiscal year 2020. Revenue fell 99% from the prior year — a significant decline worth monitoring. Expenses of $3.7M exceeded revenue, resulting in a 2437% operating deficit.

Mission

O'CONNOR HOSPITAL ("OCH"), A CALIFORNIA NONPROFIT CORPORATION, IS A 358-BED ACUTE CARE HOSPITAL IN SAN JOSE, CA. OCH OFFERS A FULL RANGE OF INPATIENT AND OUTPATIENT MEDICAL, SURGICAL, AND SPECIALTY PROGRAMS. SERVICES INCLUDE: CARDIOLOGY AND CARDIAC (SEE SCHEDULE O)REHABILITATION; ORTHOPEDIC AND JOINT REPLACEMENT; SPINE AND PAIN MANAGEMENT; STROKE; WOMEN'S HEALTH; ONCOLOGY DIAGNOSIS AND TREATMENT; AND SERVICES PROVIDED AT THE WOUND CARE CLINIC. OCH'S EMERGENCY DEPARTMENT FEATURES 23-BEDS, BOARD-CERTIFIED PHYSICIANS, AND SPECIALTY-TRAINED NURSES. OCH IS HOME TO ONE OF THE FEW FAMILY MEDICINE RESIDENCY PROGRAMS IN THE BAY AREA, AN AFFILIATION WITH STANFORD UNIVERSITY. AS OF FEBRUARY 28, 2019, O'CONNOR HOSPITAL ASSETS WERE SOLD TO SANTA CLARA COUNTY, A GOVERNMENTAL ENTITY, AS REQUIRED BY THE BYLAWS AND THE ARTICLES OF INCORPORATION OF THE HOSPTIAL.

Program Service Accomplishments

Program 1

Expenses: $3,198,836 Revenue: $144,131

THE O'CONNOR HOSPITAL ASSETS WERE SOLD AND THE PROGRAMS RELATING TO PATIENT SERVICES WERE TRANSFERRED TO SANTA CLARA COUNTY WITH THE ASSET SALE AS OF FEBRUARY 28, 2019. ANY PROGRAM SERVICE ACTIVITIES REPORTED HERE ARE THOSE ESSENTIAL TO TRANSITION THE PROGRAMS FROM OCH. OCH ALSO DID NOT OPERATE A HOSPITAL AT ANY TIME DURING FY20 & FY21. THE ENTITY IS IN THE PROCESS OF WINDING 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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $144,131

Investment Income $0

Other Revenue $0

TOTAL REVENUE $144,131

Expense Breakdown

Grants Paid $3,114,694

Salaries & Benefits $59,285

Fundraising Expenses $0

Program Expenses $3,198,836

Other Expenses $482,743

TOTAL EXPENSES $3,656,722

Year-over-Year Comparison

	2020	2019	Change
Revenue	$144,131	$11,095,150	-1.0%
Expenses	$3,656,722	$13,863,584	-0.7%
Net Income	$-3,512,591	$-2,768,434	+0.3%

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

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

$812,753

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TY CONNER	DIRECTOR (THRU 04/2021)	1.00	Director	$0	$26,623	$562,753
HOWARD GROBSTEIN	LIQUIDATING TRUSTEE (BEG 09/2020)	1.00	Officer Director	$0	$0	$0
JACK KROUSKUP	BOARD MEMBER (THRU 04/2021)	1.00	Director	$0	$0	$100,000
ANDREW PINES	BOARD MEMBER (THRU 04/2021)	1.00	Director	$0	$0	$75,000
TERRY BELMONT	BOARD MEMBER (THRU 04/2021)	1.00	Director	$0	$0	$75,000

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
2021	$144,131	$3,656,722	No data	$-3,512,591