Corning Hospital
- Assets
- $320.5m
- Revenue
- $151.9m
- Investments
- $19.3m
- Employees
- 795
- Location
- Corning, NY
- Founding
- 09/1953
- Data as of
- 06/2021
- EIN
- 16-0393490
Organization Overview
Corning Hospital is located in Corning, NY. The organization was established in 1953. 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 06/2021, Corning Hospital employed 795 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corning 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 06/2021, Corning Hospital generated $151.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $129.6m during the year ending 06/2021. While expenses have increased by 5.3% 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
TO PROVIDE MEDICAL CARE SERVICES TO THE PUBLIC. HELP EACH PERSON ATTAIN OPTIMAL, LIFE-LONG HEALTH AND WELL-BEING BY PROVIDING CLINICALLY-ADVANCED SERVICES.
Describe the Organization's Program Activity:
CORNING HOSPITAL IS A 85-BED ACUTE CARE FACILITY WITH 24 HOUR EMERGENCY SERVICES AND A FULL COMPLIMENT OF INPATIENT AND OUT-PATIENT TREATMENT SERVICES. THE HOSPITAL RUNS A CANCER CENTER THERAPEUTIC RADIOLOGY EXTENSION CLINIC WITH MEDICAL ONCOLOGY AND CANCER SUPPORT SERVICES AND A WELLNESS & FITNESS CENTER THAT IS A MEDICAL FITNESS & REHABILITATION EXTENSION CLINIC. OTHER PROGRAMS INCLUDE CARDIAC REHAB/WELLNESS, DIABETES CLASSES, JOINTCAMP, SMOKE STOPPERS, EXECUTIVE HEALTH, AND SCREENING PROGRAMS. AS MORE FULLY DESCRIBED IN FORM 990, SCHEDULE H, NO ONE IS DENIED EMERGENCY CARE BASED ON ABILITY TO PAY AND THE HOSPITAL HAS A CHARITY CARE POLICY FOR MEDICALLY NECESSARY SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colin Bailey Radiation Physicist | 55 | $208,944 | |
Mark Hopson Pharmacy Manager | 55 | $166,095 | |
Gregory Kriel Pharmacist | 55 | $159,462 | |
Scott Stevens Pharmacist | 55 | $145,295 | |
Mary Oliver Director, Surgical Clinical Op | 55 | $142,332 | |
Paul G Vervalin Director - Evp/coo Tgc | OfficerTrustee | 55 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lechase Construction Services Llc Construction | 6/29/19 | $1,276,908 |
Quest Diagnostics Lab Pathology | 6/29/19 | $342,616 |
Cross Country Staffing Temp Staffing | 6/29/19 | $1,138,934 |
Pons Physician Services Pllc Wound Care Staff | 6/29/19 | $560,522 |
Amn Healthcare Inc Tempoary Staffing | 6/29/19 | $1,049,134 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $27,677 |
| Related organizations | $0 |
| Government grants | $2,450,431 |
| All other contributions, gifts, grants, and similar amounts not included above | $99,569 |
| Noncash contributions included in lines 1a–1f | $20,207 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,577,677 |
| Total Program Service Revenue | $138,680,752 |
| Investment income | $2,501,647 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,383,631 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $151,850,128 |
| 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 | $33,297,023 |
| Pension plan accruals and contributions | $2,034,726 |
| Other employee benefits | $5,167,171 |
| Payroll taxes | $1,794,218 |
| Fees for services: Management | $15,649,413 |
| Fees for services: Legal | $230,668 |
| Fees for services: Accounting | $1,211,010 |
| Fees for services: Lobbying | $20,044 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $295,140 |
| Fees for services: Other | $19,459,613 |
| Advertising and promotion | $23,573 |
| Office expenses | $2,593,273 |
| Information technology | $1,782,457 |
| Royalties | $0 |
| Occupancy | $1,623,080 |
| Travel | $20,232 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,372 |
| Interest | $1,941,274 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,816,828 |
| Insurance | $294,063 |
| All other expenses | $0 |
| Total functional expenses | $129,581,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,745 |
| Savings and temporary cash investments | $185 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,136,574 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,816,684 |
| Prepaid expenses and deferred charges | $3,025,498 |
| Net Land, buildings, and equipment | $93,469,479 |
| Investments—publicly traded securities | $160,676,995 |
| Investments—other securities | $19,258,717 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,119,395 |
| Total assets | $320,505,272 |
| Accounts payable and accrued expenses | $25,163,187 |
| Grants payable | $0 |
| Deferred revenue | $90,319 |
| 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 | $62,339,587 |
| Total liabilities | $87,593,093 |
| Net assets without donor restrictions | $231,883,791 |
| Net assets with donor restrictions | $1,028,388 |
| 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 | $320,505,272 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Corning Hospital has recieved totaling $6,500.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $6,500 |
Endowment Analysis
| Beg. Balance | $960,544 |
| Earnings | $10,434 |
| Net Contributions | $186,322 |
| Other Expense | $128,912 |
| Ending Balance | $1,028,388 |
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 |