Executive Compensation at The Christ Hospital (Cincinnati)
The Christ Hospital (TCH) generally refers to The Christ Hospital Health Network, which is a network of nearly 8,000 employees serving patients at the main hospital campus in Mt. Auburn, the Christ Hospital Medical Center in Liberty Township, and more than 100 locations throughout Greater Cincinnati.
TCH actually consists of many tax-exempt non-profit organizations and also organizations taxed as a corporation or trust. This post addresses the executive compensation at TCH, a 501 (c) (3) governed by 16 voting members (directors) of the governing body (Board of Directors), 10 of whom are independent. The most recent Form 990 (2019 for the year ending June 30, 2020) lists 17 directors (due to timing differences, 12 (71%) of whom are male while 5 (29%) are female.
TCH reported total revenue of $1.1 billion in 2020 with the patient services and pharmacy ($954 million) the primary source of revenue. $21 million in revenue was from stimulus funds. Expenses totaled $1 billion (not including $60 million in depreciation) with the two largest expenses reported to be compensation ($516 million) and medical supplies ($273 million).
7,995 employee received $516 million in compensation which equates to an average compensation of $65,000. 560 employees received more than $100,000 in compensation with the 10 most highly compensated reported to be:
- $2,055,592: Patrick Kirk, Physician
- $1,677,456: Arturo Polizzi, President and CEO (thru 10/20)
- $1,571,590: Edward Lim, Physician
- $1,494,731: Marc Schneider, Physician
- $1,475,611: Slobodan Stanisic, Physician
- $1,381,561: Robert Cody, Physician
- $ 706,249: Alma Helpling, CFO and VP (thru 6/20)
- $ 609,949: Michael K Keating, Director (thru 10/20)
- $ 436,574: Eric Stamier, Director and Physician
- $ 311,175: Geraldine M Vehr, Director and Physician (beg 10/19)
The 10 most highly compensated employees received $11 million in compensation.
TCH paid for social or health club dues or initiation fees. Specifically, social club dues were provided for one listed individual (one Officer).
TCH has a 457(F) non-qualifed deferred compensation plan for certain senior executives. The following individuals reported an accrual above in compensation:
- $302,398: Arturo Polizzi
- $102,097: Michael K Keating
- $ 61,610: Alma Helpling
Michael K Keating received a payout of $110,344.
119 independent contractors received more than $100,000 in compensation with the 5 highest reported to be:
- $10.7 million: Ensemble RCM, of Cincinnati, OH for financial services
- $ 4.6 million: Laboratory Corporation, of Burlington, NC for healthcare services
- $ 4.5 million: Quest Diagnostics, of Atlanta, GA for healthcare services
- $ 4.0 million: Team Anesthesia, of Cincinnati, OH for healthcare services
- $ 3.2 million: Medical Recovery Systems, Inc. of Cincinnati, OH for financial services
TCH started the year with $636 million in net assets. As a reminder, TCH did receive $21 million in stimulus funds despite their financial strength. After adjustments for other changes in assets (changes in pension, loss on debt, etc), TCH ended the year with $587 million in net assets.
To read the IRS Form 990 (2019 for the year ending June 30, 2020, click here.