SETON MEDICAL CENTER (EIN 912154441) - Form 990 Financial Analysis & Trantor Score

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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

SETON MEDICAL CENTER, founded in 2001, is a community nonprofit that reported $5.9M in total revenue in fiscal year 2020. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $96.2M exceeded revenue, resulting in a 1528% operating deficit.

Mission

SETON MEDICAL CENTER AND ITS SISTER FACILITY, SETON COASTSIDE, OFFERS (SEE SCHEDULE O) PATIENT-CENTRIC, QUALITY HEALTH CARE TO THE COMMUNITIES IN WHICH THEY SERVE.

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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 $86,217

Program Service Revenue $30,006,666

Investment Income $-24,185,310

Other Revenue $0

TOTAL REVENUE $5,907,573

Expense Breakdown

Grants Paid $58,790,323

Salaries & Benefits $16,741,247

Fundraising Expenses $0

Program Expenses $82,887,786

Other Expenses $20,671,255

TOTAL EXPENSES $96,202,825

Year-over-Year Comparison

	2020	2019	Change
Revenue	$5,907,573	$216,348,015	-1.0%
Expenses	$96,202,825	$295,798,053	-0.7%
Net Income	$-90,295,252	$-79,450,038	+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

1399

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

$1,314,859

Total Directors

$2,984,373

Key Employees

$482,529

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD ADCOCK	EX-OFFICIO (THRU 9/2020)	1.00	Director	$0	$11,789	$2,171,620
TY CONNER	DIRECTOR (THRU 4/2021)	1.00	Director	$0	$26,623	$562,753
HOWARD GROBSTEIN	LIQUIDATING TRUSTEE (BEG 9/2020)	1.00	Officer Director	$0	$0	$0
JACK KROUSKUP	BOARD MEMBER (THRU 4/2021)	1.00	Director	$0	$0	$100,000
ANDREW PINES	BOARD MEMBER (THRU 4/2021)	1.00	Director	$0	$0	$75,000
TERRY BELMONT	BOARD MEMBER (THRU 4/2021)	1.00	Director	$0	$0	$75,000
ANTHONY ARMADA - CHIEF	EXECUTIVE OFFICER (THRU 8/2020)	2.00	Officer	$0	$12,489	$702,406
JAMES JACKSON - CHIEF	OPERATING OFFICER (THRU 8/2020)	40.00	Officer	$317,716	$24,376	$342,092
SHAFIN ALI - CHIEF	BIOMEDICAL ENGINEER (THRU 8/2020)	40.00	Officer	$270,361	$0	$270,361
PETER CHADWICK	CFO	5.00	Officer	$0	$0	$0
CHARLES ANTONINI JR MD	CHIEF MEDICAL OFFICER (THRU 8/2020)	40.00	Key Emp	$251,619	$0	$251,619
KERIANNE CALIGIURE - INTERIM	CHIEF NURSE OFFICER (THRU 8/2020)	40.00	Key Emp	$224,497	$6,413	$230,910
DOLLY CHAN	STAFF NURSE IV (THRU 8/2020)	40.00	Highest	$301,755	$13,272	$315,027
JAMES BROWN	STAFF NURSE IV (THRU 8/2020)	40.00	Highest	$284,817	$19,096	$303,913
KEUNG BACK	STAFF NURSE II (THRU 8/2020)	40.00	Highest	$266,466	$19,096	$285,562
EVELYN NUQUE	STAFF NURSE II 10 HR (THRU 8/2020)	40.00	Highest	$261,159	$6,320	$267,479
ESTRELLA A DAYAO	STAFF NURSE II (THRU 8/2020)	40.00	Highest	$249,961	$12,936	$262,897

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	$5,907,573	$96,202,825	No data	$-90,295,252

SETON MEDICAL CENTER