ST VINCENT MEDICAL CENTER HOWARD B… - 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

2023-07-01 to 2024-06-30

Mission

ST. VINCENT MEDICAL CENTER WAS ORGANIZED FOR THE PURPOSES OF 1) MAINTAINING AN ACUTE CARE HOSPITAL AND RELATED FACILITIES, 2) PROMOTING RESEARCH RELATED TO HEALTHCARE SERVICES, 3) MAINTAINING HEALTH PLANS USING SYSTEMS DESIGNATED TO MAXIMIZE BENEFITS TO COMMUNITIES SERVED, 4) PROMOTING GENERAL HEALTH OF THE COMMUNITY, AND 5) PROVIDING FINANCIAL AND OTHER FORMS OF ASSISTANCE FOR THE BENEFIT OF OTHER HEALTHCARE FACILITIES AFFILIATED WITH VERITY.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

ST. VINCENT MEDICAL CENTER CEASED HOSPITAL OPERATIONS IN JANUARY 2020. THE ASSETS OF ST. VINCENT MEDICAL CENTER WERE SOLD TO DR. PATRICK SOON-SHIONG ON APRIL 16, 2020. ST. VINCENT MEDICAL CENTER DID NOT OPERATE THE HOSPITAL AT ANY TIME DURING FISCAL YEARS 2021 AND 2022. THE ENTITIY IS IN THE PROCESS OF WINDING DOWN AND DISSOLVING.

Program 2

Expenses: $0 Revenue: $0

ON AUGUST 31, 2018, VERITY HEALTH SYSTEMS AND 16 OF ITS AFFILIATED COMPANIES, INCLUDING ST. VINCENT MEDICAL CENTER, EACH FILED VOLUNTARY PETITIONS FOR RELIEF UNDER CHAPTER 11 OF THE UNITED STATES...

ON AUGUST 31, 2018, VERITY HEALTH SYSTEMS AND 16 OF ITS AFFILIATED COMPANIES, INCLUDING ST. VINCENT MEDICAL CENTER, EACH FILED VOLUNTARY PETITIONS FOR RELIEF UNDER CHAPTER 11 OF THE UNITED STATES BANKRUPTCY CODE. THE BANKRUPTCY CASES ARE JOINTLY ADMINISTERED UNDER CASE NO. 18-20151 IN THE UNITED STATES BANKRUPTCY COURT FOR THE CENTRAL DISTRICT OF CALIFORNIA. ON SEPTEMBER 4, 2020, THE EFFECTIVE DATE OF THE PLAN OF LIQUIDATION OCCURRED AND THE PLAN WAS CONSUMMATED. ALL CONDITIONS PRECEDENT TO THE EFFECTIVE DATE OF THE PLAN SET FORTH IN SECTION 12.2 OF THE PLAN HAVE EITHER BEEN SATISFIED OR WAIVED IN ACCORDANCE WITH THE PLAN AND THE CONFIRMATION ORDER. COURT FILINGS ARE AVAILABLE AT KCCLLC.NET/VERITYHEALTH.

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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 $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

Other Expenses $0

TOTAL EXPENSES $0

Year-over-Year Comparison

	2023	2022	Change
Revenue	N/A	N/A	N/A
Expenses	N/A	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
2024	No data	No data	$1,242,140	No data
2023	No data	No data	$1,242,140	No data
2022	No data	No data	$1,242,140	No data
2021	$3,232,402	$39,326,677	$1,242,140	$-36,094,275

ST VINCENT MEDICAL CENTER HOWARD B GROBSTEIN LIQUIDATING TRUSTEE