Mount Vernon Hospital
- Assets
- $0.0
- Revenue
- $51.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Mount Vernon, NY
- Founding
- Data as of
- 12/2017
- EIN
- 13-1740115
Organization Overview
Mount Vernon Hospital is located in Mount Vernon, NY. Mount Vernon Hospital 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 12/2017, Mount Vernon Hospital generated $51.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (37.1%) each year. All expenses for the organization totaled $234.8k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (44.2%) per year over the past 3 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE MOUNT VERNON HOSPITAL FORMERLY PROVIDED HEALTHCARE SERVICES TO MOUNT VERNON AND SURROUNDING COMMUNITY. THE ORGANIZATION IS IN THE PROCESS OF WINDING DOWN OPERATIONS THROUGH A CHAPTER 11 BANKRUPTCY. THE HOSPITAL'S ASSETS WERE SOLD ON NOVEMBER 5, 2013 AND SERVICES CEASED AS OF THAT DATE. IN APRIL 2018 A 3% DISTRIBUTION WAS MADE TO UNSECURED CREDITORS IN ACCORDANCE WITH THE LIQUIDATION PLAN FILED WITH THE BANKRUPTCY COURT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN APRIL 2018 A 3% DISTRIBUTION TO UNSECURED CREDITORS WAS MADE IN ACCORDANCE WITH THE BANKRUPTCY LIQUIDATION PLAN APPROVED BY THE BANKRUPTCY COURT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica Terrano Plan Administrator | OfficerTrustee | 20 | $261,950 |
Stan Buturla Interim CFO | Officer | 20 | $240,000 |
Dariush Alaie Former Trusteephysican | 0 | $0 | |
Wendell Elliott Baisden Former Trustee | 0 | $0 | |
Vincent M Bufano Former Trustee | 0 | $0 | |
Pat Capasso Former Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lamonica Herbst And Maniscalco Llp Legal Services | 12/30/15 | $325,000 |
The Max Appeal Financial Consultants | 12/30/15 | $109,714 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $51,304 |
| 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. | $38,320 |
| Compensation of current officers, directors, key employees. | $38,320 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $33,797 |
| Fees for services: Management | $23,622 |
| 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 | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,895 |
| All other expenses | $5,131 |
| Total functional expenses | $234,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |