Milford Regional Medical Center Inc is located in Milford, MA. The organization was established in 1937. 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 09/2021, Milford Regional Medical Center Inc employed 2,176 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milford Regional 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 09/2020, Milford Regional Medical Center Inc generated $232.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $226.1m during the year ending 09/2020. While expenses have increased by 1.5% 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
MILFORD REGIONAL MEDICAL CENTER INC MISSION STATEMENT IS TO PROVIDE QUALITY HEALTHCARE SERVICES TO OUR COMMUNITY WITH DIGNITY, COMPASSION, AND RESPECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MILFORD REGIONAL MEDICAL CENTER IS COMMITTED TO PROVIDING EXCEPTIONAL HEALTHCARE SERVICES TO OUR COMMUNITY WITH DIGNITY, COMPASSION AND RESPECT. AS WE TURNED THE PAGE ON 2020, THE "YEAR OF COVID-19," THE MISSION INTENSIFIED AND TRANSFORMED AS QUICKLY AS THE VIRUS. AS PATIENT CARE PATTERNS QUICKLY CHANGED AND THE MILFORD REGIONAL TEAM REALIZED THAT THERE WAS NO "NEW NORMAL," ONLY NEW CHALLENGES. WHILE ESTABLISHING AND OPERATING A HOSPITAL-BASED COVID-19 VACCINE CLINIC WAS A PRIMARY FOCUS OF ATTENTION AND ENERGY IN 2021, SERVING MORE THAN 6,000 MEMBERS OF OUR COMMUNITY, MILFORD REGIONAL CONTINUED TO MOVE OTHER PROGRAM AND SERVICE INITIATIVES FORWARD. FROM ORTHOPEDICS TO WOMEN'S HEALTH, ATTENTION WAS GIVEN TO BUILDING NEW SERVICES AND FACILITIES TO BETTER SERVE PATIENTS. COVID-19 VACCINE CLINIC ONE OF THE MOST IMPORTANT SERVICES MILFORD REGIONAL OFFERED IN 2021 WAS PROVIDING A COVID-19 VACCINE CLINIC FOR EMPLOYEES AND MEMBERS OF THE COMMUNITY. MORE THAN 99% OF OUR STAFF WAS 100% VACCINATED AND MORE THAN 6,000 MEMBERS OF OUR COMMUNITY ALSO RECEIVED THEIR VACCINES AT MILFORD REGIONAL BEFORE THE CLINIC WAS CLOSED ON MAY 13, 2021. DURING THAT TIME NOT ONLY DID OUR STAFF WORK TIRELESSLY TO PROTECT THE COMMUNITY, BUT 44 COMMUNITY VOLUNTEERS PROVIDED MORE THAN 2,500 HOURS OF SERVICE AT THE CLINIC. BEHIND THE SCENES THEY ALSO ASSEMBLED MORE THAN 2,500 COVID-19 TEST KITS. NEW ORTHOPEDIC CENTER OF EXCELLENCE FISCAL YEAR 2021 PROVIDED THE PERFECT OPPORTUNITY TO PLAN AND BUILD OUT A NEW FACILITY FOR MILFORD REGIONAL ORTHOPEDICS & SPORTS MEDICINE. DUE TO OPEN AT 98 PROSPECT STREET IN MILFORD IN EARLY 2022, THIS NEW 10,000 SQUARE-FOOT FACILITY WILL BE OPERATED BY MILFORD REGIONAL PHYSICIAN GROUP AND OFFER DIAGNOSIS, TREATMENT AND X-RAY SERVICES FOR A WIDE RANGE OF ORTHOPEDIC CONCERNS AND SPORTS INJURIES. AN AMBULANCE ENTRANCE WILL OFFER ADDITIONAL CONVENIENCE FOR THOSE WITH MOBILITY ISSUES. WOMEN'S HEALTH & PELVIC FLOOR THERAPY MILFORD REGIONAL REHABILITATION AND SPORTS MEDICINE IS NOW OFFERING A NEW TREATMENT TO WOMEN WHO SUFFER FROM DYSFUNCTIONS OF THE PELVIS AND GROIN AREA THAT CONTRIBUTE TO BOWEL, BLADDER, SEXUAL HEALTH AND OTHER PAIN COMPLAINTS. UP TO ONE-THIRD OF ALL WOMEN EXPERIENCE A PROBLEM WITH THEIR PELVIC FLOOR MUSCLES AT SOME POINT IN THEIR LIFE. THE WOMEN'S HEALTH AND PELVIC FLOOR THERAPY PROGRAM CAN TREAT COMMON CONDITIONS, INCLUDING PELVIC FLOOR WEAKNESS, PREGNANCY-RELATED CONDITIONS SUCH AS SACROILIAC JOINT PAIN, SCIATICA, PUBIC SYMPHYSIS SEPARATION, INCONTINENCE, LOW BACK PAIN, PELVIC PAIN AND POST-PARTUM INCONTINENCE, ENDOMETRIOSIS, SEXUAL DYSFUNCTION AND MORE. A TEAM OF SPECIALLY-TRAINED THERAPISTS OFFERS NON-SURGICAL TREATMENT OPTIONS INCLUDING BEHAVIORAL STRATEGIES, BIOFEEDBACK TRAINING, MANUAL THERAPIES LIKE VISCERAL AND INTERNAL/EXTERNAL SOFT TISSUE MOBILIZATIONS, THERAPEUTIC EXERCISES FOR THE PELVIC FLOOR, POSTURE RE-TRAINING, LIFESTYLE EDUCATION AND A THOROUGH HOME EXERCISE PROGRAM.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kelly Edward J President And CEO | Officer | 40 | $778,756 |
Selbovitz Leslie Chief Medical Officer | Officer | 40 | $553,109 |
Thyne Nicole A Executive VP And Chief Operating Officer | Officer | 40 | $459,165 |
Papadakos James Executive VP Finance And CFO | Officer | 40 | $454,798 |
Thurlo-Walsh Bert Chief Quality Officer | Officer | 40 | $316,648 |
Kelly Judy VP Of Patient Care Services | Officer | 40 | $282,032 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Alliance Healthcare Inc Mri Services/pet Services | 9/29/21 | $3,002,268 |
Orion Emergency Services Emergency Room Management | 9/29/21 | $1,562,704 |
Quest Diagnostics Laboratory Support | 9/29/21 | $880,040 |
Brigham & Women's Physician Organization Leased Employee Services | 9/29/21 | $816,670 |
University Of Massachusetts Fee For Residency Program | 9/29/21 | $1,293,837 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $17,315,833 |
Investment income | $468,001 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$177,104 |
Net Income from Fundraising Events | -$236,345 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $231,973,056 |
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. | $1,274,197 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $100,556,614 |
Pension plan accruals and contributions | $1,611,300 |
Other employee benefits | $12,687,975 |
Payroll taxes | $8,718,837 |
Fees for services: Management | $2,439,490 |
Fees for services: Legal | $287,295 |
Fees for services: Accounting | $78,612 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $150,198 |
Office expenses | $45,280,709 |
Information technology | $3,421,977 |
Royalties | $0 |
Occupancy | $9,513,925 |
Travel | $61,037 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $4,854,506 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $11,011,334 |
Insurance | $1,216,271 |
All other expenses | $0 |
Total functional expenses | $226,079,379 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,340 |
Savings and temporary cash investments | $84,202,825 |
Pledges and grants receivable | $5,293,610 |
Accounts receivable, net | $26,979,158 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $4,733,864 |
Prepaid expenses and deferred charges | $3,291,138 |
Investments—publicly traded securities | $0 |
Investments—other securities | $12,236,992 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $13,420,219 |
Total assets | $298,103,597 |
Accounts payable and accrued expenses | $23,974,545 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $106,602,247 |
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 | $39,721,256 |
Total liabilities | $170,298,048 |
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 | $127,805,549 |
Over the last fiscal year, we have identified 2 grants that Milford Regional Medical Center Inc has recieved totaling $87,960.
Awarding Organization | Amount |
---|---|
Milford Regional Medical Staff Association Milford, MA PURPOSE: PHYSICIAN STIPENDS. | $78,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,460 |
Beg. Balance | $4,085,205 |
Earnings | $839,348 |
Other Expense | $68,322 |
Ending Balance | $4,856,231 |
Organization Name | Assets | Revenue |
---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Saint Francis Hospital And Medical Center Hartford, CT | $1,654,893,576 | $997,837,414 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
United Health Services Hospitals Inc Binghamton, NY | $821,708,896 | $773,726,450 |
Good Samaritan Hosptial Medical Center West Islip, NY | $1,039,152,790 | $802,832,775 |
South Shore Hospital Inc South Weymouth, MA | $826,172,591 | $754,117,212 |
Bridgeport Hospital Bridgeport, CT | $853,709,766 | $729,975,555 |
White Plains Hospital Medical Center White Plains, NY | $1,287,581,438 | $833,931,324 |
Danbury Hospital Danbury, CT | $968,428,982 | $798,413,805 |