Fmh Wind-Down Company
- Assets
- $3.7m
- Revenue
- $48.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Concord, NH
- Founding
- 07/1941
- Data as of
- 09/2022
- EIN
- 02-0222131
Organization Overview
Fmh Wind-Down Company, operating under the name Frisbie Memorial Hospital, is located in Concord, NH. The organization was established in 1941. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Frisbie Memorial Hospital 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 09/2022, Frisbie Memorial Hospital generated $48.9k 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 (68.2%) each year. All expenses for the organization totaled $278.4k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (59.1%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FORMER HOSPITAL UNDERGOING DIVESTITURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN JANUARY 2019, THE ORGANIZATION AND HCA HEALTHCARE, INC. SIGNED AN INTENT TO AFFILIATE THE ORGANIZATIONS. EXPECTED BENEFITS OF THE AFFILIATION INCLUDE EXPANDING THE ORGANIZATION'S SERVICES IN NEW HAMPSHIRE, EXPANDING ACCESS TO HEALTH CARE IN RURAL COMMUNITIES, AND INCREASING COMPETITION BY DELIVERING HIGHER-QUALITY, LOWER COST CARE. SINCE THE AFFILIATION, THE ORGANIZATION HAS CEASED OPERATING AS A STATE-LICENSED HOSPITAL, NO LONGER HAS ANY EMPLOYEES, AND CEASED TO PROVIDE HEALTHCARE SERVICES. THE OPERATIONS OF THE ORGANIZATION CURRENTLY CONSIST OF WIND DOWN ACTIVITIES ONLY. REMAINING ASSETS OF THE ORGANIZATION CONSIST OF CASH WHICH WILL BE USED TO SETTLE THE ORGANIZATION'S WIND-DOWN OPERATIONS AND TO SUPPORT THE GREATER ROCHESTER COMMUNITY HEALTH FOUNDATION (F/K/A FRISBIE FOUNDATION).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Hughes Chair, Trustee | OfficerTrustee | 3 | $0 |
James Jalbert Vice Chair, Trustee | OfficerTrustee | 3 | $0 |
William Cormier Secretary, Trustee | OfficerTrustee | 3 | $0 |
John Hall Treasurer, Trustee | OfficerTrustee | 3 | $0 |
Frank Jones Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nixon Peabody Llp Legal And Consulting | 9/29/21 | $453,377 |
Warbird Consulting Partners Consulting And Management | 9/29/21 | $692,350 |
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 | $46,515 |
| Investment income | $2,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,872 |
| 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 | $22,515 |
| Fees for services: Accounting | $9,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203,061 |
| Advertising and promotion | $0 |
| Office expenses | $3,965 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $278,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,696,872 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,696,872 |
| Accounts payable and accrued expenses | $0 |
| 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 | $6,439,092 |
| Total liabilities | $6,439,092 |
| Net assets without donor restrictions | -$2,742,220 |
| 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 | $3,696,872 |
Grants Awarded
Over the last fiscal year, Fmh Wind-Down Company has awarded $164,659 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Concord, NH PURPOSE: Financial support for the recipient organization's mission. | $158,659 |
Manchester, NH PURPOSE: Financial support for the recipient organization's mission. | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fmh Wind-Down Company has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Northeast Delta Dental Foundation Inc Concord, NH PURPOSE: School-based dental program | $5,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baystate Wing Hospital Corporation Palmer, MA | $104,408,982 | $97,206,592 |
Brattleboro Memorial Hospital Brattleboro, VT | $104,110,921 | $94,984,604 |
North Country Hospital & Health Center,inc Newport, VT | $120,716,878 | $102,074,097 |
Porter Hospital Inc Hcsr Middlebury, VT | $83,460,872 | $99,708,457 |
Monadnock Community Hospital Peterborough, NH | $175,868,092 | $101,127,836 |
Copley Hospital Inc Morrisville, VT | $84,353,372 | $98,228,330 |
Maine Coast Regional Health Facilities Ellsworth, ME | $64,403,049 | $81,449,460 |
Memorial Hospital North Conway, NH | $121,250,571 | $92,264,207 |
Huggins Hospital Wolfeboro, NH | $178,261,759 | $92,166,408 |
Mount Desert Island Hospital Bar Harbor, ME | $84,300,625 | $94,579,483 |
Alice Peck Day Memorial Hospital Lebanon, NH | $121,000,117 | $84,355,521 |
Fairview Hospital Pittsfield, MA | $83,701,809 | $83,351,337 |