Southwestern Vermont Health Care Corporation
- Assets
- $75.5m
- Revenue
- $6.4m
- Investments
- $13.0k
- Employees
- 0
- Location
- Bennington, VT
- Founding
- 11/1936
- Data as of
- 09/2020
- EIN
- 03-0179435
Organization Overview
Southwestern Vermont Health Care Corporation is located in Bennington, VT. The organization was established in 1936. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, 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. Southwestern Vermont Health Care Corporation 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 09/2020, Southwestern Vermont Health Care Corporation generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $3.5m during the year ending 09/2020. While expenses have increased by 6.6% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING HEALTH CARE ON BOTH AN INPATIENT AND OUTPATIENT BASIS WITH FACILITIES IN AND AROUND THE BENNINGTON, VT AREA AS WELL AS NEIGHBORING NY AND MA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTHWESTERN VERMONT HEALTH CARE CORPORATION MANAGES AND MAINTAINS MEDICAL OFFICE BUILDINGS IN BENNINGTON, MANCHESTER, WILMINGTON, POWNAL AND WEST DOVER IN VERMONT, AS WELL AS HOOSICK FALLS, NEW YORK AND WILLIAMSTOWN, MASSACHUSETTS.
SOUTHWESTERN VERMONT HEALTH CARE CORPORATION SUPPORTS SOUTHWESTERN VERMONT MEDICAL CENTER AND OTHER RELATED PARTIES THROUGH GRANT ADMINISTRATION, ACCOUNTING SERVICES AND SUPPORT OF TRUSTEE EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas A Dee CEO | OfficerTrustee | 1 | $0 |
James Brown Trustee, Vice Chair | OfficerTrustee | 1 | $0 |
Kathleen Fisher Trustee, Vice Chair (beg 10/21) | OfficerTrustee | 1 | $0 |
Tommy Harmon Jr Trustee, Chair | OfficerTrustee | 1 | $0 |
Lara Shore-Sheppard Trustee, Secretary | OfficerTrustee | 1 | $0 |
Stephen D Majetich CFO | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trane Us Inc Contractor | 9/29/18 | $281,107 |
Symbria Inc L.t.c. Consulting | 9/29/18 | $139,856 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $671,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $144,142 |
| Net Gain/Loss on Asset Sales | $2,154,289 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,374,667 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $1,121,490 |
| Pension plan accruals and contributions | $29,506 |
| Other employee benefits | $196,559 |
| Payroll taxes | $25,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,647 |
| Fees for services: Accounting | $20,312 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $153,448 |
| Fees for services: Other | $295,529 |
| Advertising and promotion | $0 |
| Office expenses | $143,162 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $605,909 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $162,705 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $597,035 |
| Insurance | $8,647 |
| All other expenses | $0 |
| Total functional expenses | $3,469,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,500 |
| Savings and temporary cash investments | $4,305,345 |
| 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 | $6,231 |
| Investments—publicly traded securities | $66,014,243 |
| Investments—other securities | $13,018 |
| Investments—program-related | -$3,304,401 |
| Intangible assets | $0 |
| Other assets | $2,766,552 |
| Total assets | $75,476,166 |
| Accounts payable and accrued expenses | $1,687,891 |
| Grants payable | $0 |
| Deferred revenue | $4,836 |
| 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 | $1,362,101 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,571,342 |
| Total liabilities | $5,626,170 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $69,849,996 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southwestern Vermont Health Care Corporation has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Healthnet Corporation Boston, MA | $1,391,448 | $17,183,901 |
Albany Medical Center Saratoga Springs, NY | $17,328,223 | $18,761,699 |
Metropolitan Medical Practice Plan Pc Bronx, NY | $6,076,770 | $14,643,918 |
Southcoast Health System Inc New Bedford, MA | $230,534,649 | $39,093,596 |
Mass General Brigham Incorporated Somerville, MA | $110,987,827 | $17,110,178 |
Exeter Health Resources Exeter, NH | $367,054,931 | $15,758,804 |
Buffalo Niagara Medical Campus Inc Buffalo, NY | $98,865,415 | $10,408,874 |
South Yarmouth Management Systems Inc Pittsfield, MA | $3,781,168 | $11,483,652 |
United Health Services Inc Binghamton, NY | $30,125,980 | $10,935,942 |
North Shore-Lij Cardiology At Deer Park Pc Westbury, NY | $1,851,842 | $8,492,015 |
Albany Medical Center Saratoga Springs, NY | $8,508,389 | $8,765,103 |
North Shore-Lij Internal Medicine Pc Westbury, NY | $7,304,719 | $5,595,851 |