Memorial Hospital
- Assets
- $127.1m
- Revenue
- $113.5m
- Investments
- $7.8m
- Employees
- 551
- Location
- North Conway, NH
- Founding
- 01/1943
- Data as of
- 09/2023
- EIN
- 02-0222156
Organization Overview
Memorial Hospital is located in North Conway, NH. The organization was established in 1943. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Memorial Hospital employed 551 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 09/2023, Memorial Hospital generated $113.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $105.3m during the year ending 09/2023. While expenses have increased by 6.1% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CRITICAL ACCESS HOSPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMORIAL HOSPITAL PROVIDES HEALTHCARE SERVICES TO THE RESIDENTS AND VISITORS OF THE MOUNT WASHINGTON VALLEY AREA OF NEW HAMPSHIRE AND THE WESTERN REGION OF MAINE. MEMORIAL HOSPITAL IS A 25 BED CRITICAL ACCESS HOSPITAL. THE HOSPITAL PROVIDES ACUTE INPATIENT SERVICES INCLUDING GENERAL MEDICAL AND SURGICAL, OBSTETRICS AND INTENSIVE CARE UNITS. THE HOSPITAL HAD 6,054 ACUTE PATIENT DAYS IN 2023. THE HOSPITAL ALSO PROVIDES A VARIETY OF OUTPATIENT SERVICES SUCH AS IMAGING, LABORATORY, DIABETES, ONCOLOGY, PHYSICAL REHAB, EMERGENCY MEDICINE, PRIMARY CARE, ORTHOPEDICS AND GENERAL SURGERY. THE HOSPITAL HAD 58,615 OUTPATIENT VISITS AND 56,135 CLINIC VISITS IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Mueller Ceo, Mh/trustee | Trustee | 1 | $0 |
Kelly Elkins Coo, Mh/frmr Trustee | Trustee | 1 | $0 |
Douglas Taylor Physician | 50 | $575,493 | |
Danielle Phinney Osteopathic Physician | 50 | $554,814 | |
Morice Dennery Physician | 50 | $490,864 | |
Art Mathisen Frmr President/frmr Trustee | OfficerTrustee | 50 | $461,421 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
North Country Integrated Health Plcc Medical Staffing | 9/29/23 | $414,150 |
Insight Health Corp Diagnostic Imaging | 9/29/23 | $222,200 |
Spectrum Medical Group Pa Corp Clinical Services | 9/29/23 | $112,912 |
Dover Hospitality Llc Lodging | 9/29/23 | $108,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $439,653 |
| All other contributions, gifts, grants, and similar amounts not included above | $368,820 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $808,473 |
| Total Program Service Revenue | $109,770,525 |
| Investment income | $1,860,640 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $125,904 |
| Net Gain/Loss on Asset Sales | $635,502 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $113,533,022 |
| 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. | $1,887,301 |
| Compensation of current officers, directors, key employees. | $571,019 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,065,794 |
| Pension plan accruals and contributions | $2,066,799 |
| Other employee benefits | $3,868,899 |
| Payroll taxes | $3,687,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $124,018 |
| Fees for services: Accounting | $51,788 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,242,831 |
| Advertising and promotion | $2,788 |
| Office expenses | $982,156 |
| Information technology | $3,334,116 |
| Royalties | $0 |
| Occupancy | $1,990,905 |
| Travel | $51,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,723 |
| Interest | $627,211 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,305,565 |
| Insurance | $1,350,606 |
| All other expenses | $1,256,672 |
| Total functional expenses | $105,333,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,561,948 |
| Savings and temporary cash investments | $11,456,629 |
| Pledges and grants receivable | $37,325 |
| Accounts receivable, net | $11,958,415 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,149,698 |
| Prepaid expenses and deferred charges | $298,115 |
| Net Land, buildings, and equipment | $28,107,529 |
| Investments—publicly traded securities | $26,052,409 |
| Investments—other securities | $7,837,225 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,687,028 |
| Total assets | $127,146,321 |
| Accounts payable and accrued expenses | $8,151,591 |
| Grants payable | $0 |
| Deferred revenue | $295,391 |
| Tax-exempt bond liabilities | $11,578,094 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,604,001 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,802,247 |
| Total liabilities | $50,431,324 |
| Net assets without donor restrictions | $76,714,997 |
| 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 | $127,146,321 |
Grants Awarded
Over the last fiscal year, Memorial Hospital has awarded $21,863 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S UNLIMITED INC PURPOSE: To provide weekly classes under the "Parenting from Prison" curriculum. | $7,446 |
SACO RIVER MEDICAL GROUP PC PURPOSE: The funding of a physician to support and provide medical assisted treatment services to an additional 60 - 80 patients with opioid dependence. | $14,417 |