Midstate Medical Center
Nonprofit profile at a glance
- EIN
- 060646715
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Meriden, CT, USA
- Phone
- 8602445272
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Hospital, General
Reported finances
- Revenue
- $477,938,120
- Expenses
- $447,786,447
- Assets
- $552,037,438
- Liabilities
- $193,347,279
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- Gina Coleman (Director/President)
Highest reported compensation
- Manjunath Ramaiah MD (Hospitalist): $797,280 total reported compensation
- Jeffrey Finkelstein MD (Former Officer): $791,085 total reported compensation
- Rockman Ferrigno MD (Interim VP, Medical Affair): $786,797 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of Midstate Medical Center is to improve the health and healing of the people and communities we serve.
What it reported doing in 2024
Heart and Vascular: Five of Hartford HealthCare's hospitals earned 63 Specialty Excellence Awards for the quality of care offered to patients in various categories, according to a new analysis by Healthgrades, a leading resource connecting consumers, physicians and health systems.Each year, Healthgrades evaluate hospital performance at nearly 4,500 hospitals nationwide for 21 of the most common inpatient procedures and conditions. Their Specialty Excellence Awards recognize hospitals with superior performance in specific specialty lines and specialty focus areas, and indicate services where patients have a lower risk of complications."These awards underscore the value Hartford HealthCare places on quality of care and the commitment our teams have to making our facilities the best place for people in communities across the state to seek care. The awards represent the contributions of all hospital staff members," said Ajay Kumar, MD, FACP, SFHM, Executive Vice President and Chief Clinical Officer for Hartford HealthCare.The awards earned by Hartford HealthCare, by hospital, include: MidState Medical Center* Cardiac * Five-Star Recipient for Treatment of Heart Failure* Orthopedics * Five-Star Recipient for Total Knee Replacement, third consecutive year * Five-Star Recipient for Spinal Fusion Surgery* Pulmonary * Five-Star Recipient for Treatment of Pneumonia, second consecutive year* Critical Care * Five-Star Recipient for Treatment of Sepsis, second consecutive year* Outstanding Patient * Outstanding Patient Experience Award, second consecutive year * Top 10% in the Nation for Outstanding Patient Experience, second consecutive year * Top 15% in the Nation for Outstanding Patient Experience, second consecutive yearAt the completion of FY25, the Division of Heart and Vascular had approximately 11,084 cases with an average length of stay of 4.24 days.
Operating model
- Revenue model
- Earned-program. 99% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 93% 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.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 71
- Accountability: 87
- Sustainability: 58
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.7%; rating input score 85
- Program expense ratio: 90.9%; rating input score 91
- Fundraising efficiency: $1.66 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 88.8%; rating input score 89; 21st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 77.8%; rating input score 78; 26th 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: 6.3%; rating input score 61; 61st percentile among comparable filings
- Total-asset coverage ratio: 1.23; rating input score 47; 47th percentile among comparable filings
- Liabilities to assets ratio: 0.35; rating input score 50; 50th percentile among comparable filings
- Officer compensation ratio: 0.8%; rating input score 78; 78th percentile among comparable filings
Growth
- Program expense growth: 8.6% per year; rating input score 100; 67th percentile among comparable filings
- Revenue growth: 6.3% per year; rating input score 100; 55th percentile among comparable filings
- Asset growth: 5.8% per year; rating input score 100; 43rd percentile among comparable filings
Details
- Where the money goes: 84.7% of revenue deployed · 90.9% of spending went to programs
- Governance: 7 of 9 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $406.9M in reported program spending
- Leadership: top reported pay $797K · 25 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $33.1M reported
- Consistency: 35 of 36 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 9 filed money-flow records
- Related organizations: 64 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: Pay-setting controls scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 4/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Liabilities to assets ratio scored 50/100.