Vassar Brothers Medical Center
- Assets
- $1.2b
- Revenue
- $744.6m
- Investments
- $195.8m
- Employees
- 2,549
- Location
- Poughkeepsie, NY
- Founding
- 05/1937
- Data as of
- 09/2021
- EIN
- 14-1338586
Organization Overview
Vassar Brothers Medical Center is located in Poughkeepsie, NY. The organization was established in 1937. 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, Vassar Brothers Medical Center employed 2,549 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vassar Brothers 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, Vassar Brothers Medical Center generated $744.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $734.7m during the year ending 09/2021. While expenses have increased by 9.2% per year over the past 5 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
990
Mission & Program ActivityExcerpts From the 990 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:
Part 3 - Line 4a
INPATIENT SERVICES: PATIENTS ADMITTED FOR ACUTE CARE - NUMBER OF PATIENTS 21,407; NUMBER OF PATIENT DAYS 101,006; THE HOSPITAL PROVIDED APPROXIMATELY $3,343,935 IN UNCOMPENSATED CARE (AT COST) TO THE REGIONS UN-INSURED AND UNDER-INSURED POPULATION.OUTPATIENT SERVICES: EMERGENCY VISITS 37,023; OTHER OUTPATIENT VISITS/PROCEDURES 390,176; THE HOSPITAL PROVIDED APPROXIMATELY $3,927,087 IN UNCOMPENSATED CARE (AT COST) TO THE REGIONS UN-INSURED AND UNDER-INSURED POPULATION.
AFFILIATE RENTAL INCOME:RENTAL INCOME FROM RELATED ORGANIZATIONS FOR SPACE OCCUPIED TO PROVIDE MEDICAL SERVICES.
RESEARCH REVENUE: FOR FY 2021, VASSAR BROTHERS MEDICAL CENTER PARTICIPATED IN 12 RESEARCH STUDIES. NINE OF THESE WERE IN CARDIOLOGY AND THREE WERE IN INFECTIOUS DISEASE. THE MAIN GOAL OF VASSAR BROTHERS MEDICAL CENTER RESEARCH IS TO PROVIDE A SYSTEMATIC INVESTIGATION, INCLUDING RESEARCH DEVELOPMENT, TESTING, AND EVALUATION, DESIGNED TO DEVELOP OR CONTRIBUTE TO GENERALIZABLE KNOWLEDGE. ADDITIONALLY, WE STRIVE TO PARTICIPATE IN SCIENTIFICALLY SIGNIFICANT STUDIES WHICH CAN PROVIDE NOVEL THERAPIES IN ADDITION TO STANDARD CARE. IN INFECTIOUS DISEASE, WE ACCOMPLISHED THIS BY OFFERING 2 NOVEL THERAPIES FOR COVID 19 -ONE OF WHICH RESULTED IN AT LEAST 2 PUBLISHED PAPERS IN MAJOR MEDICAL JOURNALS AND CHANGED THERAPY FOR EARLY COVID 19 TREATMENT. IN CARDIOLOGY, TWO OF OUR INPATIENT STUDIES OFFER THERAPY FOR THOSE PATIENTS WITHOUT OTHER TREATMENT OPTIONS. LONGER TERM GOALS INCLUDE OFFERING CLINICAL TRIALS IN ADDITIONAL THERAPEUTIC AREAS SUCH AS NEUROLOGY.
21 READ PLACE DISTRIBUTION:EXPENSES: 3,374,089 REVENUE: 3,653,127 REFUNDS AND REBATES:EXPENSES: 967,035REVENUE: 1,047,010UROC MANAGEMENT FEE:EXPENSES: 785,478REVENUE: 850,438QUALITY INCENTIVE PROGRAMS:EXPENSES: 387,566 REVENUE: 419,618MED RECORDS, MISC, PURCHASE DISCOUNT:EXPENSES: 594,383REVENUE: 643,538
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William V Begg VP Medical Affairs | 37 | $485,430 | |
Cindy A Czaplinski VP Operations | 40 | $388,867 | |
Ann Armater SVP Development | 40 | $383,758 | |
Imtiaz A Mallick MD Clinical Physician | 29 | $365,626 | |
Kevin Boland Director Cardio Perfusion | 40 | $342,565 | |
Peter A Kelly President | OfficerTrustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,671,961 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,785 |
| Noncash contributions included in lines 1a–1f | $2,995 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,764,746 |
| Total Program Service Revenue | $720,468,117 |
| Investment income | $2,358,163 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $988,686 |
| Net Gain/Loss on Asset Sales | $6,266,669 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $744,600,234 |
| 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. | $304,200 |
| Compensation of current officers, directors, key employees. | $22,699 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $246,880,423 |
| Pension plan accruals and contributions | $44,885,000 |
| Other employee benefits | $37,016,427 |
| Payroll taxes | $13,578,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $877,630 |
| Fees for services: Accounting | $776,329 |
| Fees for services: Lobbying | $31,069 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $628,558 |
| Fees for services: Other | $1,401,278 |
| Advertising and promotion | $669,225 |
| Office expenses | $38,169,525 |
| Information technology | $11,988,664 |
| Royalties | $0 |
| Occupancy | $8,854,537 |
| Travel | $196,949 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $411,383 |
| Interest | $2,698,559 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,451,646 |
| Insurance | $6,514,803 |
| All other expenses | $20,478,262 |
| Total functional expenses | $734,731,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,103,511 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,746,746 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,602,147 |
| Prepaid expenses and deferred charges | $2,558,861 |
| Net Land, buildings, and equipment | $795,378,326 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $195,805,192 |
| Investments—program-related | $0 |
| Intangible assets | $25,915,927 |
| Other assets | $134,122,767 |
| Total assets | $1,245,233,477 |
| Accounts payable and accrued expenses | $55,750,866 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $460,695,023 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $14,798,796 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $233,233,736 |
| Total liabilities | $764,478,421 |
| Net assets without donor restrictions | $452,710,409 |
| Net assets with donor restrictions | $28,044,647 |
| 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 | $1,245,233,477 |
Grants Awarded
Over the last fiscal year, Vassar Brothers Medical Center has awarded $141,100 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Dallas, TX PURPOSE: IN SUPPORT OF CARDIOVASCULAR RESEARCH, HEALTH AND WELLNESS | $17,000 |
Kennesaw, GA PURPOSE: IN SUPPORT OF CANCER CARE AND RESEARCH | $17,000 |
Poughkeepsie, NY PURPOSE: IN SUPPORT OF SERVICES FOR BATTERED WOMEN, CHILDREN AND SERVICES FOR LOCAL AT-RISK YOUTH | $17,000 |
Poughkeepsie, NY PURPOSE: IN SUPPORT OF LOCAL ECONOMY AND BUSINESSES | $17,000 |
Wappingers Falls, NY PURPOSE: IN SUPPORT OF SERVICES FOR FAMILIES WHO ARE EXPERIENCING THE HARDSHIPS OF A CANCER DIAGNOSIS THROUGH DELIVERY OF MEALS AND SUPPLIES | $13,600 |
Lagrangeville, NY PURPOSE: IN SUPPORT OF LOCAL FAMILIES AFFECTED BY BREAST CANCER DIAGNOSIS | $13,600 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vassar Brothers Medical Center has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
The William Brown Foundation Inc New York, NY PURPOSE: GENERAL | $25,000 |
Endowment Analysis
| Beg. Balance | $2,190,951 |
| Ending Balance | $2,190,951 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
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 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Englewood Hospital And Medical Center A New Jersey Nonprofit Corp Englewood, NJ | $770,563,796 | $890,451,423 |
Saint Francis Hospital And Medical Center Hartford, CT | $1,654,893,576 | $997,837,414 |
Inspira Medical Centers Inc Bridgeton, NJ | $1,997,035,403 | $960,599,521 |
Valley Hospital Inc Ridgewood, NJ | $2,214,086,950 | $1,000,529,103 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Virtu-West Jersey Health System Inc Marlton, NJ | $2,706,789,713 | $1,000,808,483 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |