Svmc Holdings Inc
96% goes to programs $24 to raise $100 Thin reserves Growing revenue
Svmc Holdings Inc is a 501(c)(3) organization based in New Britain, Connecticut, registered in 2019, with $637,936,564 in FY2023 revenue. CharityIndex grades it B+, and it directs about 96% of spending to programs.
389 John Downey Dr, New Britain, CT, 06051 EIN 83-2550272 Since 2019
Revenue (FY2023)
$637.9M
▲ 3.5% vs prior year
Health median: $840K
Expenses (FY2023)
$683.7M
Net assets
$55.7M
Employees
2,996
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →AProgram efficiency40% of the rating96% to programs · $24 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Svmc Holdings Inc: 96% to programs · $24 to raise $100 earns a A on this criterion. See the exact thresholds →
C+Financial health25% of the rating1 mo reserves · -7% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Svmc Holdings Inc: 1 mo reserves · -7% margin earns a C+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Svmc Holdings Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Svmc Holdings Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To improve the health and well-being of all people in the communities we serve.
What they do
Hartford healthcare is connecticut's most comprehensive healthcare network. our fully integrated health system includes a tertiary-care teaching hospital, an acute-care community teaching hospital, an acute-care hospital and trauma center, and two community hospitals. the cancer institute, headed by a visionary leadership team, offers the same high-quality care you'd get at an academic health system but delivered in convenient community settings. advanced treatments and services are available in offices and centers across our system all offered by fellowship-trained experts in various types of cancer. these community efforts are enhanced by our membership in the memorial sloan kettering (msk) cancer alliance. this connection offers invaluable access to current research trials that can connect you with the latest medications and treatments for your cancer. often, you can join research trials from the convenience of your local cancer institute site. this distinctive cancer care and clinical research partnership means the hartford healthcare cancer institute brings the most innovative, evidence-based cancer care from msk directly into community settings across our state. previously, patients had to travel to new york to get this level of care.partnering with msk has helped hartford healthcare expand its research portfolio to include more cancer types than ever before, and to add a cancer care innovation unit at hartford hospital. the unit enables hartford healthcare to provide phase i clinical trials to patients, meaning they have access to the most promising drugs in the development pipeline.we've also drafted standards that guarantee you will receive the same high level of care no matter which location you visit or provider you see. our community approach to cancer treatment has been recognized nationally. in 2017, the cancer institute became one of only a few u.s. systems to earn the american college of surgeons' commission on cancer accreditation. historically, such approval was only given to individual locations. the hartford healthcare cancer institute encompasses comprehensive cancer centers at seven hospitals across connecticut hartford hospital, the hospital of central connecticut, backus hospital, midstate medical center, windham hospital, charlotte hungerford hospital and st vincent's medical center. collectively, the cancer programs within the cancer institute treat about 6,000 new cancer patients per year while caring for tens of thousands of existing patients, offering a full range of innovative, evidence-based and personalized treatments designed to meet the needs of each individual patient. our innovative institute approach is unlike any other in the state and is among the most highly regarded in the nation. through our institute, which is organized around a specific disease and not necessarily location, we can apply best practices throughout our system so that patients receive the same high standards of care no matter where they live or which hartford healthcare cancer center they choose. for all of our patients, a dedicated team of oncologists, surgeons, radiologists, pathologists, nurses, clinical researchers, technicians and others collaborate to provide the exact course of care they need. the institute's multidisciplinary disease management teams meet and collaborate regularly to lend expertise and insight on numerous cancer types, translating into exceptional coordinated care. the institute's accomplished, fellowship-trained physicians are nationally recognized for their level of sophisticated care in areas such as radiation oncology, medical oncology and surgical oncology. patients are also cared for in an environment that emphasizes compassion and personal connections, with a team of trained nurse navigators who provide guidance and support to patients and families, from diagnosis to recovery. the institute also boasts a thriving survivorship program. in 2017, the institute was accredited as a network by t
Contact & location
- Address
- 389 John Downey Dr, New Britain, CT, 06051
- City
- New Britain
- State
- Connecticut
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $0 (FY2018) to $637.9M (FY2023) across 6 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $317.2MNet assets $55.7M
Operating margin
-7.2%
Spent more than it raised in the latest fiscal year.
Total assets
$372.9M
Total liabilities
$317.2M
Net assets
$55.7M
Salaries & benefits
$231.0M
34% of expenses
Board members
14
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $637,936,564▲3.5% | $683,732,070▲7.2% | $55,662,132▼40.1% | $372,892,410▲19.0% | 990 |
| 2022 | $616,264,745▲14.5% | $637,943,962▲11.3% | $92,988,569▼22.8% | $313,245,742▲12.9% | 990 |
| 2021 | $538,205,339▲7.4% | $573,402,290▲10.0% | $120,475,596▼29.2% | $277,401,595▲1.8% | 990 |
| 2020 | $500,998,042▲16.5% | $521,318,268▲19.2% | $170,231,277▼7.1% | $272,531,090▼0.1% | 990 |
| 2019 | $429,886,007 | $437,484,072 | $183,147,195 | $272,750,174 | 990 |
| 2018 | $0 | $0 | $0 | $0 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Peter Mumma — $333,345 (0.05% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Peter Mumma | Vp | 60 | $333,345 |
| Irene Brown-reid | Registered Nurse | 60 | $269,800 |
| Maureen Gethings | Dir Perioperative Svcs | 60 | $269,364 |
| Karen Kaiser | Vp | 60 | $265,950 |
| William Hoey | Vp (thru July 2024) | 60 | $265,801 |
| Melissa Lanza | Registered Nurse | 60 | $252,579 |
| Nicole Loiz | Dir Clinical Operations | 60 | $237,547 |
| Manuel Lavoura | Pharmacist | 60 | $213,835 |
| Carol Birks | Director | 2 | — |
| Christopher Given | Vp | 60 | — |
| Daniel Gottschall Md | Vp | 60 | — |
| Dara Richards Md | Director | 2 | — |
| Deacon Patrick Toole | Chair | 3 | — |
| Deborah Lee | Vp | 60 | — |
| Debra Liebowitz | Director | 2 | — |
| Douglass Grabe | Director | 2 | — |
| George Estrada | Director | 2 | — |
| Jane Manning | Director | 2 | — |
| John Rossi | Vp | 60 | — |
| Lucy Teixeira | Vice Chair | 3 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Shiftwise Inc (formerly Origin Inc) | Staffing Services | $15,314,936 |
| Morrison Management Sp Inc Acute Care | Food Services | $5,051,265 |
| Shearwater Health Inc | Staffing Services | $4,066,001 |
| Berstein-magoon-gay LLC | Laundry Services | $1,991,675 |
| Integrated Anesthesia Associates LLC | Medical Services | $1,773,287 |
Grants received · $195K total
5 grants to Svmc Holdings Inc totaling $195K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Greater Horizons | Health, medicine & science | 2024 | $25,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $7,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2023 | $101,000 |
| Donor Advised Charitable Giving | Health | 2023 | $52,300 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $10,000 |
Grants made · $651K in FY2023
10 grants totaling $651K in FY2023. All grants made by Svmc Holdings Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| South-west Community Health Center Inc | Southwest community health center inc. is dedicated to providing high quality, accessible medical, dental and behavioral health services to individuals and families, in the greater bridgeport area, especially the uninsured, who reside in the medically underserved southwest bridgeport community. | $422,742 |
| Connecticut Cancer Foundation Inc | The connecticut cancer foundation is committed to reducing the burden of cancer for connecticut cancer patients and their families. they provide direct financial assistance to connecticut cancer patients for everyday living expenses such as rent, mortgage, utilities, car payments, medical co-pays, food, medications and more. | $100,000 |
| The Riseup Group Inc | Sponsorship for three city art for hope tour. | $25,593 |
| The Bridgeport Regional Business Co Uncil Inc | Brbc holiday dinner and susan l. davis leadership award sponsorship. | $20,000 |
| Catholic Charities of Fairfield | Sponsorship for connie's eat smart market place food pantry and thomas merton family center breakfast and lunch program. | $20,000 |
| Lifebridge Community Services Inc | Lifebridge community services, inc. is committed to addressing the complex mental health and wellness challenges youth, adults and families face in the greater bridgeport and fairfield communities. they provide trauma-informed services and promote collaboration and shared learning. | $20,000 |
| Nourish Bridgeport Inc | Nourish bridgeport, inc. provides the community weekly with groceries from their super food pantry, babies monthly with formula and diapers from their baby center, hot meals from their soup kitchen and english language and citizenship classes. | $20,000 |
| Bridgeport Caribe Youth League Inc | Sponsorship for community program support and caribe gala. | $7,500 |
| Connecticut Institute For Refugees and Immigrants Inc | Connecticut institute for refugees & immigrants provides resettlement services for newly arriving refugees, meeting basic human needs and assisting client achieve self-sufficiency. | $7,500 |
| Make the Road States Inc | Sponsorship for health fair. make the road ct builds memberships with low-income and working class latinx living in bridgeport and hartford. they work for immigrant rights and offer programs aimed at improving the health of connecticut immigrants, as well as access to high quality affordable healthcare. | $7,500 |
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Compare Svmc Holdings Inc
Frequently asked questions
- Is Svmc Holdings Inc a legitimate nonprofit?
- Yes. Svmc Holdings Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 83-2550272, based in New Britain, Connecticut. Donations are tax-deductible.
- What is Svmc Holdings Inc's EIN?
- Svmc Holdings Inc's Employer Identification Number (EIN) is 83-2550272.
- How much revenue does Svmc Holdings Inc report?
- Svmc Holdings Inc reported $637,936,564 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Svmc Holdings Inc's spending goes to programs?
- Svmc Holdings Inc spends about 96% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Svmc Holdings Inc have?
- CharityIndex grades Svmc Holdings Inc B+, based on program efficiency and fundraising cost.
- How much does Svmc Holdings Inc's highest-paid employee make?
- The highest reported compensation on Svmc Holdings Inc's latest Form 990 is $333,345, paid to Peter Mumma (Vp).
More nonprofits in New Britain
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Data for Svmc Holdings Inc (EIN 83-2550272) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.