Loretto Health And Rehabilitation Center
- Assets
- $30.3m
- Revenue
- $70.1m
- Investments
- $0.0
- Employees
- 1,030
- Location
- Syracuse, NY
- Founding
- 01/2005
- Data as of
- 12/2023
- EIN
- 20-0503099
Organization Overview
Loretto Health And Rehabilitation Center is located in Syracuse, NY. The organization was established in 2005. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Loretto Health And Rehabilitation Center employed 1,030 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loretto Health And Rehabilitation 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 12/2023, Loretto Health And Rehabilitation Center generated $70.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $78.8m during the year ending 12/2023. While expenses have increased by 2.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RESIDENTIAL HEALTH CARE FACILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LORETTO HEALTH AND REHABILITATION CENTER IS COMPRISED OF THE CUNNINGHAM BUILDING, A 13-FLOOR, 487-BED LONG-TERM CARE SKILLED NURSING FACILITY, AND FAHEY REHAB, A 96-BED SHORT-TERM RESIDENTIAL REHABILITATION PROGRAM - THE LARGEST IN CENTRAL NEW YORK.
LORETTO'S ADULT MEDICAL DAY PROGRAM SERVES THE MEDICAL NEEDS OF CENTRAL NEW YORK ADULTS OVER THE AGE OF 21 IN A COMFORTABLE AND SAFE DAY SETTING UP TO SIX DAYS A WEEK. DAYBREAK IS DESIGNED TO HELP ADULTS OVER 21 MAINTAIN THEIR HIGHEST LEVEL OF INDEPENDENCE WHILE CONTINUING TO LIVE IN THEIR COMMUNITY.
LORETTO OFFERS A FULL RANGE OF REHABILITATION SERVICES INCLUDING POST-SURGICAL RECOVERY, ORTHOPEDIC REHABILITATION, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, PAIN MANAGEMENT AND SPEECH THERAPY. USING BEST PRACTICES, INNOVATIVE PRACTICE AREAS AND THE NEWEST TECHNOLOGY, LORETTO'S CARING PROFESSIONAL STAFF STRIVE TO INCREASE PATIENT COMFORT AND VITALITY WHILE RECOVERING FROM SURGERY, ILLNESS OR INJURY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Bryans Board Member, Chair | OfficerTrustee | 1 | $0 |
John Brennan Board Member, Secretary | OfficerTrustee | 1 | $0 |
John Mccabe Board Member | Trustee | 1 | $0 |
Joel Amidon Board Member | Trustee | 1 | $0 |
Kimberly Townsend President | OfficerTrustee | 10 | $193,770 |
John Murray CFO | OfficerTrustee | 10 | $76,376 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Theradynamics Therapy Services | 12/30/23 | $3,185,013 |
Snapnurse Medicial Services | 12/30/23 | $2,421,664 |
Century Health Capital Inc Mortgage Services | 12/30/23 | $1,912,737 |
White Glove Placement Inc Medicial Services | 12/30/23 | $1,311,280 |
Provalidus Medical Staffing Medicial Services | 12/30/23 | $1,219,802 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,368 |
| Government grants | $8,311,640 |
| 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 | $8,314,008 |
| Total Program Service Revenue | $60,841,099 |
| Investment income | $15,166 |
| 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 | $70,125,097 |
| 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 | $31,360,993 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,205,697 |
| Other employee benefits | $6,008,758 |
| Payroll taxes | $2,364,088 |
| Fees for services: Management | $346,582 |
| Fees for services: Legal | $68,463 |
| Fees for services: Accounting | $58,171 |
| Fees for services: Lobbying | $4,298 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,930,732 |
| Advertising and promotion | $13,418 |
| Office expenses | $788,438 |
| Information technology | $37,131 |
| Royalties | $0 |
| Occupancy | $1,715,028 |
| Travel | $3,512 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $147,389 |
| Interest | $883,820 |
| Payments to affiliates | $2,919,991 |
| Depreciation, depletion, and amortization | $2,780,026 |
| Insurance | $1,101,860 |
| All other expenses | $0 |
| Total functional expenses | $78,838,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $589,717 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,146,313 |
| 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 | $392,584 |
| Net Land, buildings, and equipment | $10,490,581 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,718,385 |
| Total assets | $30,337,580 |
| Accounts payable and accrued expenses | $11,506,673 |
| Grants payable | $0 |
| Deferred revenue | $12,984 |
| 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 | $32,468,158 |
| Total liabilities | $43,987,815 |
| Net assets without donor restrictions | -$13,650,235 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,337,580 |