Nordx
- Assets
- $134.6m
- Revenue
- $107.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Scarborough, ME
- Founding
- 07/1997
- Data as of
- 09/2023
- EIN
- 01-0511356
Organization Overview
Nordx is located in Scarborough, ME. The organization was established in 1997. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., 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. Nordx 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, Nordx generated $107.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $98.8m during the year ending 09/2023. While expenses have increased by 5.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MAXIMIZE THE EFFICIENCIES AND QUALITY OF CLINICAL DIAGNOSTIC, BLOOD BANKING AND ANATOMIC PATHOLOGY LABORATORY SERVICES THROUGHOUT THE MAINEHEALTH SERVICES NETWORK.
Describe the Organization's Program Activity:
NORDX IS COMMITTED TO SUPPORTING THEIR PARTNERS IN HEALTHCARE BY PROVIDING SUPERIOR QUALITY AND COST-EFFECTIVE LABORATORY SERVICES WHICH EMPHASIZE CUSTOMER SATISFACTION, VALUE, INNOVATION, TECHNOLOGY, AND EXCEPTIONAL SERVICE. NORDX PROVIDES COMPREHENSIVE, DEPENDABLE LABORATORY SERVICES TO HOSPITALS, NETWORKS, PHYSICIAN OFFICES, POST-ACUTE AND LONG-TERM CARE PROVIDERS, MANAGED CARE ORGANIZATIONS, AND EMPLOYER GROUPS THROUGHOUT THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert G Swallow III Cfo, Mainehealth/board Treasurer | OfficerTrustee | 1 | $0 |
Kelly Elkins Coo, Mainehealth/board Chair | OfficerTrustee | 1 | $0 |
Richard W Petersen Fmr President, Mh/fmr Board Chair | 0 | $0 | |
William S Schofield Former President/frmr Trustee | OfficerTrustee | 50 | $0 |
Richard Olsen Cfo, Smhc/trustee | Trustee | 1 | $0 |
Joe Grant VP Operations, Mchmc/trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lab Logistics Llc Courier | 9/29/23 | $1,883,760 |
Quest Diagnostics Diagnostic Services | 9/29/23 | $153,621 |
Brigham Womens Hospital Lab Services | 9/29/23 | $143,793 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $268,036 |
| 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 | $268,036 |
| Total Program Service Revenue | $103,237,172 |
| Investment income | $4,242,631 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,989,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $107,306,495 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,450 |
| 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. | $1,108,240 |
| Compensation of current officers, directors, key employees. | $1,108,240 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,027,250 |
| Pension plan accruals and contributions | $1,313,125 |
| Other employee benefits | $6,379,925 |
| Payroll taxes | $2,557,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,441 |
| 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 | $5,719,959 |
| Advertising and promotion | $22,301 |
| Office expenses | $3,407,187 |
| Information technology | $609,052 |
| Royalties | $0 |
| Occupancy | $2,173,634 |
| Travel | $246,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $108,057 |
| Interest | $25,933 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,614,506 |
| Insurance | $128,933 |
| All other expenses | $1,333,056 |
| Total functional expenses | $98,841,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,351 |
| Savings and temporary cash investments | $18,289,541 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,033,320 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,749,827 |
| Prepaid expenses and deferred charges | $550,585 |
| Net Land, buildings, and equipment | $5,577,455 |
| Investments—publicly traded securities | $95,824,278 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,545,288 |
| Total assets | $134,575,645 |
| Accounts payable and accrued expenses | $10,242,808 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,070,353 |
| Total liabilities | $13,313,161 |
| Net assets without donor restrictions | $121,262,484 |
| Net assets with donor restrictions | $0 |
| 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 | $134,575,645 |