Mainhealth Services
- Assets
- $292.5m
- Revenue
- $26.1m
- Investments
- $22.3k
- Employees
- 0
- Location
- Portland, ME
- Founding
- 08/1998
- Data as of
- 09/2023
- EIN
- 01-0431680
Organization Overview
Mainhealth Services is located in Portland, ME. The organization was established in 1998. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mainhealth Services is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Mainhealth Services generated $26.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.8%) each year. All expenses for the organization totaled $13.3m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (21.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAINEHEALTH SERVICES WILL LEAD THE DEVELOPMENT OF THE PREMIER COMMUNITY CARE NETWORK THAT PROVIDES A BROAD RANGE OF INTEGRATED HEALTH CARE SERVICES IN MAINE AND NORTHERN NEW ENGLAND. THROUGH MAINEHEALTH SERVICES' AFFILIATED ORGANIZATIONS, THE NETWORK WILL ORGANIZE SERVICES ALONG THE FULL CONTINUUM OF CARE NECESSARY TO IMPROVE THE HEALTH STATUS OF THE POPULATIONS IT SERVES IN A COST EFFECTIVE MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINEHEALTH SERVICES IS THE PARENT COMPANY OF THE LARGEST HEALTHCARE SYSTEM IN MAINE. THE MAINEHEALTH SYSTEM (INCLUDING MAINEHEALTH) PROVIDES A FULL RANGE OF INTEGRATED HEALTHCARE SERVICES TO PATIENTS IN MAINE AND NORTHERN NEW ENGLAND WITH THE GOAL OF IMPROVING THE HEALTH STATUS OF THE POPULATIONS IT SERVES. TO THAT END, MAINEHEALTH SERVICES LED THE MAINEHEALTH SYSTEM'S EFFORTS TO IMPLEMENT A SYSTEM WIDE SHARED ELECTRONIC HEALTH RECORD SYSTEM (SEHR).CLINICALLY, MAINEHEALTH SERVICES' INVESTMENT IN SEHR COMMENCED IN 2007 AND IS CENTRAL TO MAINEHEALTH SERVICES STRATEGIC PLAN. (CONTINUED ON SCHEDULE O)(CONTINUED FROM PAGE 2 OF 990, LINE 4A) SEHR IS AN INTEGRATED SUITE OF TECHNOLOGY SOLUTIONS TO SUPPORT HEALTHCARE DELIVERY FOR THE MAINEHEALTH SERVICES SYSTEM, PROVIDERS AND THE COMMUNITIES MAINEHEALTH SERVICES SERVES. EPIC AND LAWSON SOLUTIONS PROVIDE AN INTEGRATED SUITE OF SOFTWARE SOLUTIONS FOR MANAGING MOST CLINICAL, BUSINESS AND FINANCIAL PROCESSES. THE INTEGRATION OF THESE SOLUTIONS HAS ENABLED AND WILL CONTINUE TO ENABLE CAREGIVERS AND PATIENTS, REGARDLESS OF THE SETTING, TO OBTAIN A MORE COMPREHENSIVE VIEW OF INFORMATION TO FACILITATE FURTHER IMPROVEMENTS IN THE DELIVERY OF SAFE, EFFECTIVE, AND EFFICIENT CARE AND ADVANCE MAINEHEALTH SERVICES VISION OF "ONE PATIENT, ONE RECORD". ADDITIONAL ADMINISTRATIVE SERVICES SUCH AS MANAGEMENT OF INSURANCE PROGRAMS OCCURS WITHIN MAINEHEALTH SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Hooper Trustee | Trustee | 1 | $0 |
Brian H Noyes Trustee | Trustee | 1 | $0 |
Brett Loffredo MD Physician, Mh | Trustee | 1 | $0 |
Clint Boothby ESQ Trustee | Trustee | 1 | $0 |
Daniel Loiselle MD Trustee | Trustee | 1 | $0 |
David Kumaki MD Facp Physician, Mh | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Advisory Board Company Consulting | 9/29/18 | $1,279,646 |
Hayes Management Consulting Mgmt Consulting | 9/29/18 | $1,027,706 |
Bswift Llc Benefits Portal | 9/29/18 | $592,228 |
Kpmg Llc Consulting | 9/29/18 | $492,302 |
Accenture Llp Consulting | 9/29/18 | $190,103 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $24,713,375 |
| Investment income | $538,899 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$569,793 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,094,398 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,629,151 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,686,474 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $13,315,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $83,502,701 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $18,722,406 |
| Investments—publicly traded securities | $36,099,066 |
| Investments—other securities | $22,282 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $154,113,300 |
| Total assets | $292,459,755 |
| Accounts payable and accrued expenses | $9,134,829 |
| Grants payable | $0 |
| Deferred revenue | $268,601 |
| Tax-exempt bond liabilities | $50,009,166 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,457,852 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $280,796,366 |
| Total liabilities | $343,666,814 |
| Net assets without donor restrictions | -$51,257,639 |
| Net assets with donor restrictions | $50,580 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $292,459,755 |
Grants Awarded
Over the last fiscal year, Mainhealth Services has awarded $327,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION PURPOSE: Program support | $20,000 |
CENTER FOR GRIEVING CHILDREN PURPOSE: Sponsorship | $15,000 |
EDUCATE MAINE PURPOSE: Program support | $10,000 |
TD BEACH TO BEACON PURPOSE: Sponsorship | $10,000 |
UNITED WAY OF GREATER PORTLAND PURPOSE: Let's Go, Wmn United | $22,500 |
UNIVERSITY OF NEW ENGLAND PURPOSE: Osteopathic Educ | $150,000 |