Executive Compensation at Stanford Health Care (2023)

Stanford Health Care (SHC) is a tax-exempt non-profit organization whose purpose is to provide patient care services through its 19,000 employees at 3 hospitals and 60 clinics in the Palo Alta, California area.  SHC consists of 22 tax-exempt non profit organizations, 43 related organizations taxed as a partnership, and 30 organizations taxed as a corporation or trust.

In 2023, SHC reported total revenue of $7 billion with the largest source of revenue reported to be patient revenue ($6.8 billion).  Expenses were $6.6 billion (including $226 million in depreciation) with the largest expenses reported to be compensation ($3 billion), purchased services and fees for services ($1.7 billion),  supplies ($1 billion), and office-related expenses ($360 million).

Net assets are $6.5 billion at year-end 2023.

19,335 employees received $3 billion in compensation, which equates to an average of $155,000.  7,862 employees received more than $100,000 with 21 of the most highly compensated reported to be:

• $5,114,409:  David Entwistle, President and CEO
• $4,470,822:  Lloyd Minor, Director*
• $2,674,224:  Quinn McKenna, COO
• $2,205,965:  Paul King, Director*
• $2,037,570:  Linda Hoff, CFO
• $2,027,453:  Mary Hawn, Director*
• $1,427,643:  Priya Singh, VP and Chief Strategy Officer *
• $1,368,268:  Eila Skinner, Director*
• $1,276,004:  Sridhar Seshadri, Chief Cancer Operating Officer
• $1,195,117:  Dale Beatty, Chief Nurse Executive
• $1,162,871:  Alison Kerr, VP Service Lines and CAO
• $1,132,905:  Randall Livingston, Director*
• $1,072,860:  Thomas Montine, Director*
• $  985,004:  Thomas Kim, V,Chief Marketing Development Officer
• $  893,369:  David Jones, VP and Chief HR Officer
• $  849,835:  James Martin, VP, Controller
• $  788,833:  Gary Fritz, VP – Applications
• $  788,057:  Carol Rorig, VP and Chief HR Officer
• $  649,876:  Jay Shah, Director*
• $  627,557:  Timothy Seay-Morrison, VP Chief Ambu Svc Lin Officer
• $  518,012:  Catherine Krna, CEO SMP

The 21 highly compensated employees listed above received $35 million in compensation in 2023.  The most highly compensated employee was David Entwistle, the President and CEO who received more than $5 million in 2023; and received $25 million in compensation from 2018-2023:

David Entwistle:  Total Compensation 2018-2023:  $25 million

• 2023:  $5,114,409
• 2022:  $5,263,879
• 2021:  $4,773,173
• 2020:  $4,246,417
• 2019:  $3,214,222
• 2018:  $2,780,807

14 of the 21 (67%) highly compensated employees are male while 7 of the 21 (33%) are female.

To read about the supplemental executive retirement plan and housing allowances, go to the Form 990, Schedule J, Part III, Supplemental Information.

SHC has made housing loans to employees (it is unclear why a tax-exempt non-profit health care company is making housing loans – including reduced interest rate and zero interest rate loans – to employees since the purpose of non-profit healthcare companies is not to provide housing loans, especially for multimillion dollar homes):

• David Entwistle received 3 loans (for housing) totaling $3 million. The balance due is $2.2 million.
• Quinn McKenna received 4 loans (for housing) totaling $2 million.  The balance due is $1.7 million.
• Dale Beatty received 1 loan (for housing) for $500,000.  The balance due is $500,000.
• Linda Hoff received 1 loan (for housing) for $953,000.  The balance due is $953,000.
• Gary Fritz, a former employee received 1 loan (for housing) for $300,000.  The balance due is $300,000.

To read the IRS Form 990 (2023), click here.