Main Line Realty Corporation
- Assets
- $67.7m
- Revenue
- $9.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Newtown Square, PA
- Founding
- 04/1983
- Data as of
- 06/2021
- EIN
- 22-2440273
Organization Overview
Main Line Realty Corporation is located in Newtown Square, PA. The organization was established in 1983. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Main Line Realty Corporation 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, Main Line Realty Corporation generated $9.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $5.2m during the year ending 06/2021. 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
INVEST AND MANAGE REAL ESTATE PROPERTY FOR THE BENEFIT OF THE MAIN LINE HEALTH SYSTEM AND TO ASSIST AND SUPPORT MAIN LINE HEALTH SYSTEM WITH THESE FUNCTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAIN LINE REALTY CORPORATION'S PRINCIPAL PURPOSE IS TO MANAGE HOSPITAL OWNED MEDICAL OFFICE BUILDINGS THAT PATIENTS CAN ACCESS FOR OUTPATIENT CARE FROM PHYSICIANS ON THE MAIN LINE HOSPITALS, INC. AND RIDDLE MEMORIAL HOSPITAL. SERVICES PROVIDED INCLUDE ASSET MANAGEMENT AND ACCOUNTING SERVICES, AS WELL AS MANAGING THE EXPENSES INCURRED TO OPERATE THE BUILDINGS, INCLUDING UTILITIES, REPAIRS, REAL ESTATE TAXES, LIABILITY INSURANCE AND OTHER MEDICAL OFFICE BUILDING EXPENSES.
MAIN LINE REALTY CORPORATION HAS PURCHASED PARTNERSHIP INTEREST IN BMHR ASSOCIATES. SPECIFICALLY, MAIN LINE REALTY CORPORATION HAS AN 86.28% PARTNERSHIP INTEREST OF BMHR ASSOCIATES. MAIN LINE REALTY CORPORATION INCURS AND PAYS LEASE EXPENSES ON ITS PRO RATA SHARE OF OWNERSHIP AS WELL AS RELATED BUILDING COSTS ASSOCIATED WITH THE OPERATION OF THIS MOB.
MAIN LINE REALTY CORPORATION OWNS A 51% INTEREST IN MAIN LINE HEALTH IMAGING LP, AN ORGANIZATION THAT PROVIDES MAGNETIC RESONANCE IMAGING AND PET CT SERVICES AT THE MAIN LINE HEALTH HOSPITALS, AS WELL AS VARIOUS OUTPATIENT HEALTH CENTERS. MAIN LINE REALTY CORPORATION ALSO OWNS 100% OF MAIN LINE HEALTH WELLNESS, LLC. WHICH CATERS TO THE DIVERSE NEEDS OF A DECONDITIONED OR MEDICALLY COMPROMISED POPULATION, AS WELL AS THOSE MEMBERS OF THE COMMUNITY WHO ARE FOCUSED ON MAINTAINING AND IMPROVING THEIR HEALTH. OTHER JOINT VENTURES INCLUDE: PAOLI SURGERY CENTER, LP, MAIN LINE REAL ESTATE, LP, AND RMH HEALTH CARE CENTER ASSOCIATES, LP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Buongiorno Evp-Finance/treasurer/trustee | OfficerTrustee | 1 | $0 |
John J Lynch III President/ex-Officio Trustee | OfficerTrustee | 1 | $0 |
Elizabeth J Balderston Chairman/trustee | OfficerTrustee | 1 | $0 |
Brian T Corbett ESQ Sr. Vp, Gen Counsel/secretary | Officer | 1 | $0 |
Eileen Carr Assistant Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $5,038,801 |
| Investment income | $4,520,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,439 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,567,390 |
| 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 | $1,477,711 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $108,901 |
| Payroll taxes | $109,638 |
| Fees for services: Management | $165,364 |
| Fees for services: Legal | $1,363 |
| Fees for services: Accounting | $2,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $277,070 |
| Advertising and promotion | $10,729 |
| Office expenses | $113,912 |
| Information technology | $31,134 |
| Royalties | $0 |
| Occupancy | $1,373,326 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,024 |
| Interest | $134,232 |
| Payments to affiliates | $161,125 |
| Depreciation, depletion, and amortization | $757,140 |
| Insurance | $83,792 |
| All other expenses | $1,088 |
| Total functional expenses | $5,240,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,907,287 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $590,250 |
| 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 | $51,735 |
| Net Land, buildings, and equipment | $12,272,291 |
| Investments—publicly traded securities | $36,123,165 |
| Investments—other securities | $0 |
| Investments—program-related | $6,756,519 |
| Intangible assets | $0 |
| Other assets | $5,010,040 |
| Total assets | $67,711,287 |
| Accounts payable and accrued expenses | $400,734 |
| Grants payable | $0 |
| Deferred revenue | $525,435 |
| Tax-exempt bond liabilities | $4,334,619 |
| 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 | $5,448,171 |
| Total liabilities | $10,708,959 |
| Net assets without donor restrictions | $57,002,328 |
| 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 | $67,711,287 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chandler Hall Health Services Inc Newtown, PA | $26,412,529 | $17,505,940 |
Monongalia Health System Inc Morgantown, WV | $86,745,766 | $16,010,701 |
Main Line Health System Newtown Square, PA | $716,989,438 | $16,528,062 |
Albany Medical Center Saratoga Springs, NY | $17,328,223 | $18,761,699 |
Keystone Human Services Harrisburg, PA | $87,650,682 | $15,974,485 |
Metropolitan Medical Practice Plan Pc Bronx, NY | $6,076,770 | $14,643,918 |
Gslpg Inc Allentown, PA | $2,068,397 | $14,256,674 |
Wellspan Health Care Services York, PA | $27,111,355 | $16,698,867 |
Fisher Titus Health Norwalk, OH | $26,776,326 | $13,778,991 |
Heritage Valley Health System Inc Beaver, PA | $119,093,589 | $30,915,024 |
Pittsburgh Mercy Health System Inc Pittsburgh, PA | $67,521,734 | $13,055,628 |
Western Maryland Health Care Corporation Oakland, MD | $13,609,447 | $14,070,540 |