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ALBANY MED HEALTH SYSTEM
ALBANY, NY · EIN 141641730 · Form 990 · FY2024 · NTEE E21 · Health Care · Very Large (>$50M)
revenue
$316.0M
expenses
$312.5M
net assets
$40.9M
employees
1,871
volunteers
36
program ratio
100%
mission · from form 990

AN ACADEMIC HEALTH SCIENCES SYSTEM WHOSE RESPONSIBILITIES ARE TO PROVIDE A BROAD RANGE OF PATIENT SERVICES TO THE PEOPLE OF EASTERN NEW YORK AND WESTERN NEW ENGLAND.

profile · synthesized from sources

Albany Med Health System is an academic health sciences system providing a broad range of patient services to communities in eastern New York and western New England. It coordinates clinical, financial, and administrative operations across affiliated organizations, with significant activity in pharmacy services, information systems, and centralized financial management. The system supports patient care delivery through integrated health services and operational infrastructure.

irs program accomplishments · form 990 part iii · fy2024

What they reported doing

  1. #1 primary $64.78M
    OTHER ADMINISTRATIVE SUPPORT SERVICES: THE ALBANY MED HEALTH SYSTEM COORDINATES PLANNING, FINANCIAL, INFORMATION AND POLICY DIRECTION FOR OUR AFFILIATED EXEMPT ORGANIZATIONS.
  2. #2 $55.36M
    PHARMACY SERVICES: THE PHARMACY EARNS REVENUE AND INCURS EXPENSES FOR FILLING SCRIPTS, SPECIALTY, NON-SPECIALTY AND NON-340B ELIGIBLE, PRIMARILY FOR AMC PATIENTS AND EMPLOYEES.
named programs · 4 · from sources

What they call their work

Administrative Support Services
Coordinates planning, financial, information, and policy direction for affiliated exempt organizations within the Albany Med Health System.
Financial Management
Manages centralized corporate finance operations for the Albany Med Health System, including financial reporting, budgeting, and fiscal oversight.
Information Systems & Services
Provides centralized maintenance and upgrades for information systems and computer support, including personal computing and education, across the health system.
Pharmacy Services
Fills prescriptions—specialty, non-specialty, and non-340B eligible—primarily for Albany Med Center patients and employees, generating revenue aligned with expenses.
activities · 3 groups

What they do

  • Healthcare System Administrative Support 2 activities
    • Centralized Information Technology Support
      Provides centralized maintenance, upgrades, and computer support for information systems across the health system, enabling reliable and secure operations for affiliated organizations.
    • Health System Governance and Strategic Coordination
      Coordinates planning, financial oversight, information systems, and policy direction for affiliated exempt organizations within the Albany Med Health System, ensuring integrated operations and strategic alignment.
  • Organizational Sustainability Management 1 activity
    • Corporate Financial Management
      Conducts centralized corporate finance operations for the Albany Med Health System, supporting fiscal accountability and resource management across the organization.
  • Pharmacy Access and Medication Assistance 1 activity
    • Pharmacy Services
      Fills prescriptions, including both specialty and non-specialty medications, primarily serving patients and employees of Albany Medical Center.
financials · form 990 · fy2024
revenue
Total revenue$316.05M
Contributions & grants$101K0%
Program service revenue$312.33M99%
Investment income$2.42M1%
Other revenue$1.20M
expenses
Total expenses$312.46M
Program expenses100%
Admin / overhead0%
Fundraising0%
Salaries & benefits$139.82M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$513.82M
Cash$30.45M
Investments$80.68M
Liabilities$472.93M
Net assets$40.90M
Liquid reserves4.3 mo
2 years on record · 2023–2024 · YoY revenue +8.0%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 12
NameTitleHours/wkCompensation
DENNIS P MCKENNA MD PRESIDENT & CEO 8 $2.50M
ALAN S BOULOS MD EVP & DEAN ALB MED COL 1 $1.54M
FRANCES S ALBERT SR.EVP, COO & CFO 6 $1.43M
MATTHEW C JONES EVP & GENERAL COUNSEL 26 $945K
JASON MOUZAKES MD EVP HOSP GEN DIRECTOR 1 $794K
KRISTOPHER P KUSCHE SVP & CIO 40 $778K
VICTOR BECKER SVP & CHIO 40 $693K
SANDRA J CASTILLA VP HUMAN RESOURCES 40 $517K
SHELLY A BRETON VP REVENUE CYCLE SERVICES 40 $438K
MICHELE SKUMURSKI SVP FINANCE 40 $428K
STEVEN M PARNES MD BOARD MEMBER 2 $374K
PETER PAIGE MD FMR EVP AMHS & HOSP. GEN. DIR. 1 $95K
board members · 13
  • ANTHONY DURANTE — BOARD MEMBER
  • CANDACE KING WEIR — BOARD MEMBER
  • CAROL KIM PHD — BOARD MEMBER
  • CAROLYN STEFANCO PHD — BOARD MEMBER
  • DANIEL T PICKETT III — BOARD MEMBER
  • DAVID GOLUB — BOARD MEMBER (UNTIL 3/6/2024)
  • DOUGLAS M HAMLIN — BOARD MEMBER
  • ELIZABETH WOOD — BOARD MEMBER
  • GLENDA KELMAN — BOARD MEMBER
  • HEATHER WARD — BOARD MEMBER
  • JAMES CULLUM — BOARD MEMBER
  • JAMES O JACKSON PHD — BOARD MEMBER (UNTIL 6/25/2024)
  • JANICE WHITE EDD — BOARD MEMBER
relationships · 1

Who they work with

  • AMC Partner — Provides pharmacy services primarily for AMC patients and employees.