South Shore Medical Center
- Assets
- $68.4m
- Revenue
- $83.0m
- Investments
- $0.0
- Employees
- 788
- Location
- Norwell, MA
- Founding
- 10/2003
- Data as of
- 09/2021
- EIN
- 04-2297845
Organization Overview
South Shore Medical Center is located in Norwell, MA. The organization was established in 2003. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 09/2021, South Shore Medical Center employed 788 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Shore Medical Center 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, South Shore Medical Center generated $83.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $87.0m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 6 years. 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
SOUTH SHORE MEDICAL CENTER CARES FOR PATIENTS COMPASSIONATELY AND EFFECTIVELY, WITH THE HIGHEST MEDICAL AND ETHICAL STANDARDS. WE BUILD A BETTER FUTURE FOR THE COMMUNITIES WE SERVE THROUGH TEACHING, LEADERSHIP IN HEALTH CARE INNOVATION AND PHILANTHROPY.
Describe the Organization's Program Activity:
SOUTH SHORE MEDICAL CENTER PROVIDED MEDICAL, PREVENTATIVE AND OTHER CLINICAL SERVICES TO ITS PATIENTS. THE ORGANIZATION WORKS TO IMPROVE THE QUALITY OF HEALTH CARE SERVICES PROVIDED TO PATIENTS IN SOUTHEASTERN MASSACHUSETTS THROUGH CLINICAL INTEGRATION AND THE IMPLEMENTATION OF A UNIFIED ELECTRONIC MEDICAL RECORDS SYSTEM. SOUTH SHORE MEDICAL CENTER PARTICIPATED IN EDUCATIONAL AND TRAINING PROGRAMS FOR MEDICAL STUDENTS AND MEDICAL RESIDENTS AND FOR OTHER HEALTHCARE PROFESSIONALS INCLUDING PHYSICIAN ASSISTANTS AND NURSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sergio Fefer MD Physician | 40 | $642,923 | |
Steven Starr MD Physician | 40 | $575,318 | |
Young Kim MD Physician | 40 | $530,384 | |
Matthew Hjort MD Physician | 40 | $508,107 | |
Jeffrey Bennett MD Physician | 40 | $499,312 | |
David Halle MD Ambulatory Medical Director | Officer | 40 | $495,676 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Foxrock Longwater Ii Realty Llc Management Company | 9/29/21 | $2,698,029 |
South Suburban Gastroenterology Pc Physician Services | 9/29/21 | $849,952 |
Hancock Flag Realty Llc Management Company | 9/29/21 | $725,688 |
Boston University Dermatology Physician Services | 9/29/21 | $246,961 |
Beale's Llc Cleaning Services | 9/29/21 | $311,981 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,939,950 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,939,950 |
| Total Program Service Revenue | $74,531,177 |
| Investment income | $1,067,430 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,082 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,043,739 |
| 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. | $727,101 |
| Compensation of current officers, directors, key employees. | $257,891 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,476,123 |
| Pension plan accruals and contributions | $1,849,157 |
| Other employee benefits | $6,244,005 |
| Payroll taxes | $3,069,382 |
| Fees for services: Management | $8,500 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,223,170 |
| Advertising and promotion | $23,920 |
| Office expenses | $7,275,793 |
| Information technology | $308,356 |
| Royalties | $0 |
| Occupancy | $7,307,962 |
| Travel | $103 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $706,471 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,034,824 |
| Insurance | $1,356,411 |
| All other expenses | $333,983 |
| Total functional expenses | $86,994,299 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,944,792 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,507,690 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $605,961 |
| Prepaid expenses and deferred charges | $2,285,035 |
| Net Land, buildings, and equipment | $6,317,726 |
| Investments—publicly traded securities | $6,725,099 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $34,471,848 |
| Other assets | $6,556,862 |
| Total assets | $68,415,013 |
| Accounts payable and accrued expenses | $9,545,495 |
| Grants payable | $0 |
| Deferred revenue | $970,417 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,582,176 |
| Total liabilities | $56,098,088 |
| Net assets without donor restrictions | $12,316,925 |
| 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 | $68,415,013 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harvard Medical Faculty Phys At Beth Israel Deaconess Med Ctr Inc Boston, MA | $333,623,970 | $615,180,366 |
Lahey Clinic Inc Burlington, MA | $218,926,928 | $291,194,396 |
Physicians Of University Hospital Pc Westbury, NY | $91,787,225 | $282,594,740 |
Western New York Medical Practice Pc Rochester, NY | $26,530,939 | $128,934,853 |
Trinity Health Of New England Provider Network Organization Inc Hartford, CT | $70,146,578 | $134,472,081 |
Stamford Health Medical Group Inc Stamford, CT | $92,505,083 | $118,533,430 |
St Josephs Medical Pc Syracuse, NY | $40,455,825 | $136,268,897 |
Mount Sinai Health System Self Insurance Trust New York, NY | $337,636,938 | $98,428,023 |
Core Physicians Llc Exeter, NH | $19,371,760 | $100,280,879 |
Fenway Community Health Center Inc Boston, MA | $98,106,829 | $102,495,347 |
Lawrence Medical Associates Pc Bronxville, NY | $43,959,801 | $93,174,617 |
Thundermist Health Center Woonsocket, RI | $55,440,960 | $90,981,582 |