Gifford Medical Center Inc
- Assets
- $102.4m
- Revenue
- $70.3m
- Investments
- $0.0
- Employees
- 497
- Location
- Randolph, VT
- Founding
- 03/1937
- Data as of
- 09/2023
- EIN
- 03-0179418
Organization Overview
Gifford Medical Center Inc is located in Randolph, VT. The organization was established in 1937. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Gifford Medical Center Inc employed 497 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gifford Medical Center Inc 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, Gifford Medical Center Inc generated $70.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $73.8m during the year ending 09/2023. While expenses have increased by 3.3% 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
GIFFORD MEDICAL CENTER IS A NON-PROFIT ACUTE CARE HOSPITAL PROVIDING HEALTHCARE ON AN INPATIENT AND OUTPATIENT BASIS.
Describe the Organization's Program Activity:
GIFFORD MEDICAL CENTER INC. ("GIFFORD") OPERATES A NOT-FOR-PROFIT, 25 BED CRITICAL ACCESS HOSPITAL WHEREBY MEDICAL PROVIDERS AND NURSES PROVIDE AROUND THE CLOCK CARE TO PATIENTS. INPATIENT CARE SERVICES INCLUDE A MEDICAL/SURGICAL UNIT, A BIRTHING CENTER, AND END OF LIFE CARE. GIFFORD ALSO OFFERS A RANGE OF CLINICAL AND ANCILLARY SERVICES: DIAGNOSTIC IMAGING, LABORATORY TESTING, ANESTHESIOLOGY, CARDIOLOGY, CHIROPRACTIC CARE, HOSPITALISTS, NEUROLOGY, ONCOLOGY, ORTHOPEDICS, PATHOLOGY, PODIATRY, SPORTS MEDICINE, GENERAL SURGERY, AND UROLOGY.GIFFORD MEDICAL CENTER'S CARING AND KNOWLEDGEABLE SURGERY TEAM OFFERS GENERAL SURGERY SERVICES INCLUDING SKIN LESION AND CYST REMOVAL, COMPREHENSIVE BREAST CARE, DIAGNOSIS AND TREATMENT OF ALL FORMS OF CANCER, WOUND CARE, PILL ENDOSCOPY, COLONOSCOPIES AND APPENDIX REMOVAL. GENERAL SURGEONS PROVIDE A WIDE RANGE OF PROCEDURES (PRIMARILY FOCUSING ON THE ABDOMINAL ORGANS AS WELL AS DISEASES OF THE SKIN, BREAST, SOFT TISSUE AND HERNIAS) IN BOTH OFFICE AND OPERATING ROOM SETTINGS.GIFFORD MEDICAL CENTER OFFERS VARIOUS OTHER HEALTH CARE SERVICES TO THE CENTRAL VERMONT AREA. OTHER SERVICES AVAILABLE INCLUDE RADIOLOGY, LABORATORY, RESPIRATORY THERAPY, PHYSICAL THERAPY, OCCUPATIONALTHERAPY, SPEECH PATHOLOGY, ELECTRO CARDIOLOGY, CHEMOTHERAPY, EMERGENCY, SKILLED NURSING, LABOR AND DELIVERY, NURSERY, RADIOISOTOPE, AND ELECTROENCEPHALOGRAPHY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Bennett President & CEO | OfficerTrustee | 40 | $366,183 |
Megan O'brien Past Trustee/med. Staff President | Trustee | 40 | $141,550 |
Emilija Florance Trustee/med. Staff President | Trustee | 40 | $242,031 |
Victor Ribaudo Chair | OfficerTrustee | 1 | $0 |
Megan Cicio Vice Chair | OfficerTrustee | 1 | $0 |
Peter Reed Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Focusone Solutions Llc Contract Nursing | 9/29/23 | $2,117,700 |
Medstream Anesthesia Pllc Contract Anesthesia | 9/29/23 | $1,457,679 |
Shc Services Inc Contract Nursing | 9/29/23 | $1,171,798 |
Dartmouth-hitchcock Clinic Contract Providers | 9/29/23 | $944,078 |
Berry Dunn Mcneil & Parker Llc Audit & Tax Services | 9/29/23 | $881,704 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $10,764 |
| Related organizations | $0 |
| Government grants | $36,652 |
| All other contributions, gifts, grants, and similar amounts not included above | $668,097 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $715,513 |
| Total Program Service Revenue | $66,662,659 |
| Investment income | $945,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $940,498 |
| Net Gain/Loss on Asset Sales | $813,346 |
| Net Income from Fundraising Events | $175,903 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,252,978 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $139,132 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,101,340 |
| Compensation of current officers, directors, key employees. | $892,118 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,780,873 |
| Pension plan accruals and contributions | $1,027,790 |
| Other employee benefits | $5,333,144 |
| Payroll taxes | $1,959,509 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $112,441 |
| Fees for services: Accounting | $137,915 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,986,417 |
| Advertising and promotion | $30,541 |
| Office expenses | $959,809 |
| Information technology | $134,861 |
| Royalties | $0 |
| Occupancy | $2,473,503 |
| Travel | $58,557 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $438,402 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,607,034 |
| Insurance | $550,490 |
| All other expenses | $0 |
| Total functional expenses | $73,781,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $320,252 |
| Savings and temporary cash investments | $1,338,252 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,795,480 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,081,795 |
| Prepaid expenses and deferred charges | $1,463,577 |
| Net Land, buildings, and equipment | $34,672,216 |
| Investments—publicly traded securities | $28,662,371 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,843,500 |
| Other assets | $25,262,421 |
| Total assets | $102,439,864 |
| Accounts payable and accrued expenses | $8,260,128 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $14,800,524 |
| 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 | $7,997,188 |
| Total liabilities | $31,057,840 |
| Net assets without donor restrictions | $68,719,821 |
| Net assets with donor restrictions | $2,662,203 |
| 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 | $102,439,864 |