Albany Medical Center is located in Glens Falls, NY. The organization was established in 1937. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2021, Albany Medical Center employed 2,752 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Albany 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 12/2020, Albany Medical Center generated $346.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $347.3m during the year ending 12/2020. While expenses have increased by 0.8% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
GLENS FALLS HOSPITAL PROVIDES A COMPREHENSIVE HEALTH CARE SYSTEM THAT STRETCHES ACROSS 6,000 SQUARE MILES ACROSS 5 DIVERSE COUNTIES. WE PROVIDE HIGH QUALITY CARE TO PEOPLE, REGARDLESS OF THEIR ABILITY TO PAY. WE ARE A 391 BED FACILITY WITH MORE THAN 380 CERTIFIED PHYSICIANS IN OVER 25 SPECIALTIES. OUR SERVICES INCLUDE, BUT ARE NOT LIMITED TO, EMERGENCY CARE, SURGICAL SERVICES, MENTAL HEALTH, CANCER CARE, PRIMARY CARE, AND PREVENTATIVE HEALTH EDUCATION. IN 2020, WE HAD 46,180 PATIENT DAYS AND 11,043 DISCHARGES. THE EMERGENCY CARE CENTER PROVIDED CARE TO 38,579 PATIENTS. OUR MENTAL HEALTH DEPARTMENT PROVIDED 39,846 OUTPATIENT TREATMENTS AND 6,617 INPATIENT DAYS. OUR SURGERY CENTER PERFORMED 9,149 PROCEDURES. SEE CONTINUATION ON SCHEDULE O. THROUGHOUT THE COVID-19 PANDEMIC, GLENS FALLS HOSPITAL HAS DEMONSTRATED THE ESSENTIAL NATURE OF OUR SERVICES FOR THE REGION AND HAS CONTINUED TO BE THE SAFETY NET HOSPITAL FOR OUR SURROUNDING COMMUNITIES. AT THE HOSPITAL, A COVID COMMAND CENTER WAS IMMEDIATELY ESTABLISHED AT THE ONSET OF THE PANDEMIC TO MANAGE COMMUNITY-BASED TESTING, SUPPLIES (ACQUISITION AND DEPLOYMENT), EQUIPMENT NEEDS, STAFFING, NEW DIRECTIVES AND LOCAL AND STATE-WIDE RESPONSES, INCLUDING DATA REQUESTS. IT WAS OPEN 7 DAYS PER WEEK FROM 7AM TO 7PM TO COVER ALL SHIFTS OF THE HOSPITAL UNTIL IT WAS SCALED BACK IN MAY 2020. IT WAS STAFFED BY AT LEAST TWO SENIOR LEADERS AT ALL TIMES, AS WELL AS A SUPPORT PERSON WHO ASSISTED WITH ANSWERING CALLS, SECURING SUPPLIES AND COORDINATING WITH OTHERS THROUGHOUT THE HOSPITAL. DESPITE SIGNIFICANT DECLINES IN VOLUMES AT THE ONSET OF THE PANDEMIC, THE HOSPITAL SECURED AND RETAINED AGENCY CONTRACTED LABOR AT PREMIUMS DURING THIS TIME TO MAINTAIN STAFF FOR THE NYS SURGE PLAN AND REQUIRED PREPAREDNESS MEASURES, AS WELL AS SECURED APPROPRIATE PHYSICIAN COVERAGE. THE HOSPITAL ALSO SET UP EMERGENCY TESTING TENT SITES IN OUR EMERGENCY DEPARTMENT PARKING LOT TO ADDRESS THE COMMUNITY TESTING NEED EARLY IN THE PANDEMIC. ADDITIONAL SIGNIFICANT COSTS WERE INCURRED TO: INCREASE PPE AVAILABILITY, SECURE CAPITAL NEEDED TO EXECUTE A SURGE PLAN, IMPLEMENT ADDITIONAL CLEANING PROCESSES AND PROCEDURES, IMPLEMENT TELEHEALTH, MAINTAIN OVERHEAD STRUCTURE, AND EXECUTE TESTING (AMONG OTHER ITEMS). EXAMPLES OF CAPITAL ITEMS PURCHASED INCLUDE IV PUMPS, A TELEMETRY SYSTEM, A UV MASK REPROCESSING ROOM, AIR PURIFYING EQUIPMENT, VACCINE FREEZERS, AND IPADS/EQUIPMENT FOR TELEHEALTH AND PATIENT/FAMILY COMMUNICATION. ADDITIONAL SUPPLY EXPENSES INCLUDE PATIENT SEPARATION BARRIERS FOR SOCIAL DISTANCING, N95 MASKS, HAND SANITIZER AND DISINFECTANTS, AND REFERENCE LAB COSTS RELATED TO THE PROCESSING OF COVID-19 TESTING RELATED TO IP, OBSERVATION, AND ED VISITS. FACILITY RELATED EXPENSES INCLUDE LEASED TENTS/TRAILERS SET UP OUTSIDE FOR COVID TESTING AND SCREENING. WE ALSO ADJUSTED OUR HVAC SYSTEMS TO CREATE NEGATIVE PRESSURE CARE ROOMS FOR COVID PATIENTS. THE HOSPITAL ALSO INVESTED MONEY IN ADVERTISING AND COMMUNITY EDUCATION TO PRODUCE COVID-RELATED EDUCATIONAL MATERIALS, BROCHURES, AND VIDEOS TO HELP THE COMMUNITY BETTER UNDERSTAND COVID AND THE SAFETY MEASURES IN PLACE AT GFH FOR THEMSELVES AND THEIR FAMILY MEMBERS. THE HOSPITAL ALSO RAPIDLY, EFFICIENTLY AND EFFECTIVELY SET UP A MASS VACCINATION CLINIC IN DECEMBER AS VACCINES BECAME AVAILABLE. THE HOSPITAL NOT ONLY SERVICED HOSPITAL-EMPLOYEES IN GETTING THEIR VACCINE ADMINISTRATION, BUT ALL ADMINISTERED TO COMMUNITY AGENCIES AND OTHER FIRST-RESPONDERS, THEREBY ENSURING THAT THESE GROUPS IN THE COMMUNITY WERE ABLE TO ALSO BE VACCINATED IN AN EFFICIENT MANNER.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dianne Shugrue President & CEO | OfficerTrustee | 40 | $3,797,476 |
Adam Brod MD Orthopedic Physician | 40 | $732,566 | |
John Stoutenburg MD Oncology Physician | 40 | $619,386 | |
Matthew Dickson Ent Physician | 40 | $609,661 | |
Andre Johnson MD Orthopedic Physician | 40 | $607,465 | |
Michael Lieberth MD Surgical Physician | 40 | $594,443 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Hudson Headwaters Health Network Medical Services | 12/30/20 | $6,058,229 |
Kaufman Hall & Associates Consultants | 12/30/20 | $2,326,439 |
Medical Anesthesia Specialists Of Ny Pc Anesthesia Services | 12/30/20 | $1,847,614 |
Comphealth Contract Labor | 12/30/20 | $1,568,237 |
Revmd Partners Collection Services | 12/30/20 | $1,088,502 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $32,681,969 |
Investment income | $1,336,087 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $45,611 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $346,451,670 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $12,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $5,852,022 |
Compensation to disqualified persons | $2,167 |
Other salaries and wages | $141,682,494 |
Pension plan accruals and contributions | $4,868,044 |
Other employee benefits | $11,349,296 |
Payroll taxes | $9,618,072 |
Fees for services: Management | $3,378,612 |
Fees for services: Legal | $599,002 |
Fees for services: Accounting | $191,916 |
Fees for services: Lobbying | $33,493 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $41,575,684 |
Advertising and promotion | $776,298 |
Office expenses | $89,175,400 |
Information technology | $7,877,604 |
Royalties | $0 |
Occupancy | $3,671,574 |
Travel | $118,616 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $176,600 |
Interest | $2,214,930 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $18,691,908 |
Insurance | $3,237,918 |
All other expenses | $0 |
Total functional expenses | $347,327,868 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $52,795,776 |
Savings and temporary cash investments | $11,015,446 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $28,626,471 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $110,127 |
Inventories for sale or use | $6,272,680 |
Prepaid expenses and deferred charges | $2,807,816 |
Investments—publicly traded securities | $81,664,766 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $20,675,962 |
Total assets | $356,058,419 |
Accounts payable and accrued expenses | $95,675,319 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $46,900,000 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $25,853,656 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $37,673,183 |
Total liabilities | $206,102,158 |
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 | $149,956,261 |
Over the last fiscal year, we have identified 3 grants that Albany Medical Center has recieved totaling $50,774.
Awarding Organization | Amount |
---|---|
Charles R Wood Foundation Wilmington, DE PURPOSE: 3D TOMOGRAPHY IMAGING EQUIPMENT FOR THE BREAST CENTER AT GLENS FALLS HOSPITAL | $37,500 |
Glens Falls Foundation Glens Falls, NY PURPOSE: General Grant to Organization | $12,915 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $359 |
Beg. Balance | $1,506,672 |
Earnings | $53,846 |
Admin Expense | $41,846 |
Grants | $12,000 |
Ending Balance | $1,506,672 |
Organization Name | Assets | Revenue |
---|---|---|
Cape Cod Healthcare Inc Hyannis, MA | $1,256,505,571 | $986,611,618 |
St Josephs Health System Subordinate Group Return Paterson, NJ | $1,081,595,215 | $963,799,571 |
Atlanticare Health System Inc Egg Harbor Township, NJ | $1,893,827,880 | $909,225,575 |
Geisinger System Services Danville, PA | $1,398,222,343 | $715,016,181 |
Hartford Health Care Corporation Hartford, CT | $2,668,436,051 | $551,640,424 |
Bon Secours Charity Health System Affiliated Group Suffern, NY | $223,032,633 | $606,730,244 |
Highmark Health Pittsburgh, PA | $708,603,703 | $583,319,053 |
Hackensack Meridian Health Inc Edison, NJ | $279,460,343 | $549,822,020 |
Wellspan Health York, PA | $671,523,886 | $507,378,748 |
St Clair Health Corporation Pittsburgh, PA | $808,105,796 | $406,482,026 |
Wyckoff Heights Medical Center Brooklyn, NY | $318,132,023 | $364,136,906 |
Albany Medical Center Glens Falls, NY | $356,058,419 | $346,451,670 |