Putnam Hospital Center
- Assets
- $193.4m
- Revenue
- $141.2m
- Investments
- $58.1m
- Employees
- 940
- Location
- Carmel, NY
- Founding
- 05/1962
- Data as of
- 09/2021
- EIN
- 14-6019179
Organization Overview
Putnam Hospital Center, operating under the name Putnam Hospital, is located in Carmel, NY. The organization was established in 1962. 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, Putnam Hospital employed 940 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Putnam 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 09/2021, Putnam Hospital generated $141.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $149.7m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) 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
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 3,728; NUMBER OF PATIENT DAYS 14,523; THE HOSPITAL PROVIDED APPROXIMATELY $806,319 IN UNCOMPENSATED CARE (AT COST) TO THE REGIONS UN-INSURED AND UNDER-INSURED POPULATION. OUTPATIENT SERVICES: EMERGENCY VISITS 17,023; OTHER OUTPATIENT VISITS/PROCEDURES 184,378; THE HOSPITAL PROVIDED APPROXIMATELY $1,335,500 IN UNCOMPENSATED CARE (AT COST) TO THE REGIONS UN-INSURED AND UNDER -INSURED POPULATION.
INPATIENT PSYCHIATRIC SERVICES: PSYCHIATRIC PATIENTS ADMITTED FOR TREATMENT. NUMBER OF PATIENTS 609; NUMBER OF PATIENT DAYS 5,053.
RENTAL INCOME FROM RELATED ORGANIZATIONS FOR SPACE OCCUPIED FOR MEDICAL SERVICES.
REBATES AND REFUNDS:EXPENSES: 329,765 REVENUE: 322,105QUALITY INCENTIVE - CJR:EXPENSES: 229,567 REVENUE: 224,235STONELEIGH MANAGEMENT CONTRACT:EXPENSES: 210,952 REVENUE: 206,052MED RECORDS, MISC, PURCHASE DISCOUNT:EXPENSES: 27,245 REVENUE: 26,612
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elish C Hourihan VP Patient Care Svcs./cno | 33 | $305,462 | |
Julie Regenbaum Director Pharmacy | 40 | $215,057 | |
Lawrence S Schek VP Medical Affairs | 40 | $206,431 | |
Laurie Muscari Director Mental Health Services | 40 | $204,461 | |
Ronald E Stephens Director Of Patient Care Services | 40 | $203,038 | |
Mark K Hirko MD President Phc & Sharon Hospitals | OfficerTrustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,875,732 |
| Government grants | $237,552 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,051 |
| Noncash contributions included in lines 1a–1f | $1,850 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,184,335 |
| Total Program Service Revenue | $132,419,830 |
| Investment income | $687,845 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,971,093 |
| Net Gain/Loss on Asset Sales | $1,869,629 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $141,202,593 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,887,817 |
| Pension plan accruals and contributions | $2,666,355 |
| Other employee benefits | $16,172,449 |
| Payroll taxes | $3,488,708 |
| Fees for services: Management | $158,806 |
| Fees for services: Legal | $308,772 |
| Fees for services: Accounting | $281,623 |
| Fees for services: Lobbying | $8,667 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $218,023 |
| Fees for services: Other | $4,265,921 |
| Advertising and promotion | $244,003 |
| Office expenses | $711,326 |
| Information technology | $3,961,097 |
| Royalties | $0 |
| Occupancy | $4,020,689 |
| Travel | $47,188 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,335 |
| Interest | $650,016 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,581,798 |
| Insurance | $1,829,423 |
| All other expenses | $5,848,284 |
| Total functional expenses | $149,701,048 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,053,355 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,467,842 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,620,673 |
| Prepaid expenses and deferred charges | $564,306 |
| Net Land, buildings, and equipment | $58,470,729 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $58,078,684 |
| Investments—program-related | $0 |
| Intangible assets | $50,000 |
| Other assets | $55,048,318 |
| Total assets | $193,353,907 |
| Accounts payable and accrued expenses | $10,586,380 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $19,549,750 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,014 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,222,840 |
| Total liabilities | $99,359,984 |
| Net assets without donor restrictions | $80,777,361 |
| Net assets with donor restrictions | $13,216,562 |
| 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 | $193,353,907 |
Grants Awarded
Over the last fiscal year, Putnam Hospital Center has awarded $20,580 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Dallas, TX PURPOSE: RESEARCH AND DEVELOPMENT OF CARDIAC PROGRAMS | $10,500 |
Poughkeepsie, NY PURPOSE: SUPPORT OF WALKWAY FOR COMMUNITY | $10,080 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Putnam Hospital Center has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
J Weinstein Foundation Inc Carmel, NY PURPOSE: GENERAL PURPOSE | $15,000 |
Endowment Analysis
| Beg. Balance | $3,975,272 |
| Earnings | $8,033 |
| Ending Balance | $3,983,305 |
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 |