Umass Memorial Health Care Inc
- Assets
- $149.8m
- Revenue
- $159.1m
- Investments
- $0.0
- Employees
- 1,642
- Location
- Southbridge, MA
- Founding
- 08/1968
- Data as of
- 09/2021
- EIN
- 04-2103577
Organization Overview
Umass Memorial Health Care Inc is located in Southbridge, MA. The organization was established in 1968. 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, Umass Memorial Health Care Inc employed 1,642 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Umass Memorial Health Care 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 09/2021, Umass Memorial Health Care Inc generated $159.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $143.4m during the year ending 09/2021. While expenses have increased by 1.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE - TO PROVIDE HIGH QUALITY MEDICAL SERVICES IN A COST EFFICIENT AND COST EFFECTIVE MANNER TO THE RESIDENTS OF SOUTH CENTRAL MASSACHUSETTS.
Describe the Organization's Program Activity:
THE OPERATION OF AN ACUTE CARE HOSPITAL, WHICH HAD OVER 285,000 OUTPATIENT VISITS DURING THE YEAR ENDED SEPTEMBER 30, 2021. THE OPERATION OF AN ACUTE CARE HOSPITAL, WHICH PROVIDED OVER 20,000 DAYS OF INPATIENT CARE DURING THE YEAR ENDED SEPTEMBER 30, 2021. IN FY 2021 THE HOSPITAL HAD 113 BEDS AND 12 NURSERIES. THE OPERATION OF AN ACUTE CARE HOSPITAL, WHICH PROVIDED TREATMENT FOR OVER 41,000 EMERGENCY ROOM VISITS DURING THE YEAR ENDED SEPTEMBER 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward H Moore President/ceo | Officer | 40 | $1,048,180 |
Thomas Sullivan Vice President/treasurer | Officer | 40 | $437,274 |
Maria Russo-Appel Physician | 40 | $395,250 | |
Harold R Lemieux VP And Cio | Officer | 40 | $366,050 |
Richard Listerud Physician | 40 | $359,324 | |
Christopher Caniff VP Of Hr | Officer | 40 | $335,652 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trimedex Radiology | 9/29/20 | $1,035,919 |
Precision Anesthesia Assoc Pc Physician Services | 9/29/20 | $1,572,447 |
Monitor Builders Inc Construction | 9/29/20 | $2,157,151 |
Medicus Emergency Room Svs Physician Services | 9/29/20 | $751,382 |
Raymond R House Construction Construction | 9/29/20 | $649,344 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,213,207 |
| Investment income | $973,288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $228,962 |
| Net Gain/Loss on Asset Sales | $2,836,364 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $159,106,871 |
| 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. | $3,190,658 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,654,213 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,802,277 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $8,930,924 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $1,069,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,925,075 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $143,402,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,736,005 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,841,158 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $537,933 |
| Inventories for sale or use | $2,268,762 |
| Prepaid expenses and deferred charges | $1,389,079 |
| Investments—publicly traded securities | $68,416,573 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,875,283 |
| Total assets | $149,779,330 |
| Accounts payable and accrued expenses | $31,967,111 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $26,173,802 |
| 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 | $11,063,874 |
| Total liabilities | $69,204,787 |
| Net assets without donor restrictions | $71,307,839 |
| Net assets with donor restrictions | $9,266,704 |
| 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 | $80,574,543 |