Legacy Waterbury Hospital Inc
- Assets
- $10.1m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Waterbury, CT
- Founding
- 11/1951
- Data as of
- 09/2021
- EIN
- 06-0665979
Organization Overview
Legacy Waterbury Hospital Inc is located in Waterbury, CT. The organization was established in 1951. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Legacy Waterbury Hospital 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, Legacy Waterbury Hospital Inc generated $5.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (47.3%) each year. All expenses for the organization totaled $13.4m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (38.7%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO WIND UP THE AFFAIRS OF "WATERBURY HOSPITAL- AND DISTRIBUTE THE REMAINING ASSETS TO AN UNAFFILIATED 501(C)3 CHARITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES ARE THE EXPENSES AND COSTS ASSOCIATED WITH THE LIQUIDATION OF THE OLD "WATERBURY HOSPITAL'S" LIABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Contadini Chairman | OfficerTrustee | 0.5 | $0 |
John A Michaels Director | OfficerTrustee | 0.1 | $0 |
David J Pizzuto MD Director | OfficerTrustee | 0.1 | $0 |
Carl B Sherter Director | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison Healthcare Dietary Services | 9/29/16 | $3,887,545 |
Cerner Corporation Information Technology | 9/29/16 | $1,924,833 |
Access Rehab Centers Llc Physical Therapy Services | 9/29/16 | $1,326,457 |
Ct Colony Emergency Physicians Clinical Services | 9/29/16 | $1,225,328 |
Crothall Healthcare Building Svcs, Transport Svcs | 9/29/16 | $6,171,325 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,829,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,829,473 |
| Total Program Service Revenue | $1,353,089 |
| Investment income | $62,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,762,552 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,007,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,522,200 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $62,941 |
| Fees for services: Legal | $139,495 |
| Fees for services: Accounting | $30,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,168 |
| Fees for services: Other | $33,800 |
| Advertising and promotion | $0 |
| Office expenses | $5,994 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $65,060 |
| All other expenses | $0 |
| Total functional expenses | $13,438,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,553,032 |
| Savings and temporary cash investments | $4,125,776 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,283,008 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,135,841 |
| Total assets | $10,097,657 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $9,783,852 |
| Total liabilities | $9,783,852 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $313,805 |
| 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 | $10,097,657 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Legacy Waterbury Hospital Inc has recieved totaling $18,828.
| Awarding Organization | Amount |
|---|---|
Harriet Kirk Tr 82 67-7 Uw Nect Chicago, IL PURPOSE: GENERAL | $13,466 |
Almon B Dayton Tr Uw C3783 2-5-53 Fbo Gregory D Hitchcock Et Al Nect Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $5,362 |
Endowment Analysis
| Beg. Balance | $53,252,862 |
| Earnings | $2,783,836 |
| Other Expense | $604,308 |
| Ending Balance | $55,432,390 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brooks-Tlc Hospital System Inc Dunkirk, NY | $43,332,954 | $53,462,246 |
Memorial Hospital Albany Ny Albany, NY | $0 | $44,731,508 |
Hudson Valley Cardiovascular Practice Pc Poughkeepsie, NY | $15,329,648 | $43,703,701 |
Emerson Practice Associates Inc Concord, MA | $29,193,502 | $40,422,139 |
Schuyler Hospital Inc Montour Falls, NY | $54,341,361 | $39,968,023 |
Soldiers & Sailors Memorial Penn Yan, NY | $51,512,161 | $38,410,105 |
Little Falls Hospital Little Falls, NY | $49,578,750 | $41,825,945 |
Athol Memorial Hospital Incorporated Athol, MA | $33,079,219 | $40,239,523 |
Eastern Niagara Hospital Inc Lockport, NY | $14,089,776 | $34,430,143 |
Tlc Health Network Irving, NY | $24,384,836 | $38,572,822 |
Tufts Shared Services Inc Boston, MA | $23,127,749 | $29,549,509 |
Bassett Hospital Of Schoharie County Cobleskill, NY | $50,070,763 | $38,474,739 |