Middlesex Health

Nonprofit profile at a glance

EIN
060646718
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Middletown, CT, US
Phone
860-358-6000
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$562,648,390
Expenses
$524,818,709
Assets
$657,423,312
Liabilities
$161,140,323

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

28 people listed

Executive titles in this filing

  • VINCENT CAPECE JR (PRESIDENT/CEO)

Highest reported compensation

  • VINCENT CAPECE JR (PRESIDENT/CEO): $1,714,932 total reported compensation
  • DAVID COSENTINO (VP QUALITY & PATIENT SAFETY): $712,974 total reported compensation
  • SUSAN MARTIN (VP FINANCE/TREASURER): $711,119 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To improve the health and well-being of the community by providing high-quality, compassionate care.

What it reported doing in 2024

Middlesex hospital continues to provide updates and access to resources to help members of the community stay safe and healthy during these challenging times. Armed with skilled staff, progressive diagnostic tools and advanced surgical techniques, the hospital was well positioned to ensure a comfortable, safe environment for exceptional medical treatment and recovery. In the fiscal year ending 9/30/25, inpatient care represented 11,436 discharges and 55,487 patient care days. Inpatient care from registration through discharge is carefully managed to exceed regulatory requirements and ensure quality, patient satisfaction, and best practice with each aspect of the inpatient experience, including all elements of care from nursing competency and compassion, to meal quality, lab and diagnostic testing, safe and secure physical surroundings to patient education. Middlesex hospital, licensed for 275 beds and 22 bassinets, provides acute care from dedicated health care teams which include surgeons, hospitalists, family practitioners and residents, medical staff physicians, magnet nurses, physician assistants, patient care technologists, diagnostic technicians, pathologists, administrators, environmental services, security, engineering and a host of others working together to enable the organization's success.the hospital units including intensive and critical care, medical surgical, oncology, orthopedic, pulmonology, vascular and cardiology, gastrointestinal, maternity, a 20-bed psychiatric floor, and hospice services specialize in the specific needs of their patients and are staffed to accommodate the unique treatment requirements of each. All ancillary services including labs, radiology, food services, pathology, pharmacy, medical transcription and information services too are a part of the hospital team. Patient care is developed with full consideration of the whole individual, as they are assigned to condition specific care pathways and services to secure best treatment and recovery.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 73
  • Accountability: 95
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.9%; rating input score 83
  • Program expense ratio: 89.5%; rating input score 89
  • Fundraising efficiency: $10.52 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 2nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 87.8%; rating input score 88; 21st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 40th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.7%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 21st percentile among comparable filings

Details

  • What they do: 4 operating locations identified
  • Where the money goes: 82.9% of revenue deployed · 89.5% of spending went to programs
  • Governance: 11 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $469.6M in reported program spending
  • Leadership: top reported pay $1.7M · 28 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $12.7M reported
  • Consistency: 39 of 41 current checks pass · 2 findings to review
  • Schedules: 14 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 21 filed money-flow records
  • Related organizations: 11 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 59/100.