Norwalk Hospital Association
- Assets
- $792.8m
- Revenue
- $402.6m
- Investments
- $130.2m
- Employees
- 1,868
- Location
- Norwalk, CT
- Founding
- 07/1943
- Data as of
- 09/2021
- EIN
- 06-6068853
Organization Overview
Norwalk Hospital Association is located in Norwalk, CT. The organization was established in 1943. 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, Norwalk Hospital Association employed 1,868 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norwalk Hospital Association 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, Norwalk Hospital Association generated $402.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $400.9m during the year ending 09/2021. While expenses have increased by 0.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BECOME THE PARTNER-IN-HEALTH FOR THE PEOPLE THROUGHOUT THE CORE REGIONS OF WESTERN CONNECTICUT AND THE HUDSON VALLEY OF NEW YORK THROUGH THE EFFICIENT DELIVERY OF EXCELLENT, INNOVATIVE AND COMPASSIONATE CARE.
Describe the Organization's Program Activity:
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Lincoln Chief Nursing & Operations Officer | 40 | $266,463 | |
Elizabeth Brice Nurse | 40 | $245,695 | |
Mahshid Hassantalebi Nurse | 40 | $212,622 | |
Federico J Peralta Patient Care Manager | 40 | $204,191 | |
Stephanie Zavadsky Nurse | 40 | $202,947 | |
Thomas Dubin Vice Chairman | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Norwalk Radiology Consultants Physicians - Radiology | 9/29/21 | $1,766,867 |
Allied Universal Security Services Security Services | 9/29/21 | $696,924 |
Connecticut Childrens Specialty Group Physicians/nurses - Pediatric | 9/29/21 | $1,151,374 |
Credit Center Llc Debt Collection Services | 9/29/21 | $444,408 |
Cardiology Associates Cardiologists | 9/29/21 | $350,255 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,071,362 |
| Government grants | $1,511,397 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,314 |
| Noncash contributions included in lines 1a–1f | $3,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,603,073 |
| Total Program Service Revenue | $381,453,012 |
| Investment income | $1,341,643 |
| Tax Exempt Bond Proceeds | $1,454,629 |
| Royalties | $0 |
| Net Rental Income | $3,075,442 |
| Net Gain/Loss on Asset Sales | $6,173,814 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $402,634,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $42,568 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $290,420 |
| Compensation of current officers, directors, key employees. | $31,559 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $127,659,137 |
| Pension plan accruals and contributions | -$463,126 |
| Other employee benefits | $21,130,546 |
| Payroll taxes | $7,894,780 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $522,236 |
| Fees for services: Accounting | $506,879 |
| Fees for services: Lobbying | $74,871 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $139,804 |
| Fees for services: Other | $93,969,046 |
| Advertising and promotion | $442,319 |
| Office expenses | $2,585,041 |
| Information technology | $7,192,530 |
| Royalties | $0 |
| Occupancy | $13,854,342 |
| Travel | $190,299 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,593 |
| Interest | $4,164,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,223,029 |
| Insurance | $2,870,945 |
| All other expenses | $0 |
| Total functional expenses | $400,928,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,674,338 |
| Savings and temporary cash investments | $275,298 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,196,452 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,039 |
| Inventories for sale or use | $7,190,772 |
| Prepaid expenses and deferred charges | $19,378,531 |
| Net Land, buildings, and equipment | $235,912,301 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $130,208,931 |
| Investments—program-related | $171,273,974 |
| Intangible assets | $0 |
| Other assets | $186,736,527 |
| Total assets | $792,848,163 |
| Accounts payable and accrued expenses | $46,325,617 |
| 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 | $252,814,345 |
| Total liabilities | $299,139,962 |
| Net assets without donor restrictions | $397,182,445 |
| Net assets with donor restrictions | $96,525,756 |
| 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 | $792,848,163 |
Grants Awarded
Over the last fiscal year, Norwalk Hospital Association has awarded $16,234,828 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bethel, CT PURPOSE: STRATEGIC SUPPORT | $11,497,837 |
PURPOSE: STRATEGIC SUPPORT | $4,736,991 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Norwalk Hospital Association has recieved totaling $426,253.
| Awarding Organization | Amount |
|---|---|
The Tow Foundation Inc New Canaan, CT PURPOSE: PULMONARY FELLOWSHIP PROGRAM AT NORWALK HOSPITAL | $333,333 |
Maximilian E & Marion O Hoffman Foundation Inc West Hartford, CT PURPOSE: GENERAL | $50,000 |
Pink Aid Inc Westport, CT PURPOSE: COMPASSIONATE CARE TO SUPPORT BREAST CANCER PATIENTS | $32,000 |
Delta Dental Endowment Association Of New Jersey Inc Parsippany, NJ PURPOSE: PROGRAM SUPPORT | $9,920 |
The Tow Foundation Inc New Canaan, CT PURPOSE: 2021 ANNUAL STAFF DISCRETIONARY GRANT | $1,000 |
Peer Organizations
| 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 |