Southern Vermont Medical Center Inc
- Assets
- $125.6m
- Revenue
- $197.6m
- Investments
- $0.0
- Employees
- 1,282
- Location
- Bennington, VT
- Founding
- 02/1986
- Data as of
- 09/2023
- EIN
- 22-2563241
Organization Overview
Southern Vermont Medical Center Inc is located in Bennington, VT. The organization was established in 1986. 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 09/2023, Southern Vermont Medical Center Inc employed 1,282 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Vermont Medical Center Inc 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 09/2023, Southern Vermont Medical Center Inc generated $197.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $204.2m during the year ending 09/2023. While expenses have increased by 3.6% per year over the past 8 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
(SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTHWESTERN VERMONT MEDICAL CENTER IS A 99 BED HOSPITAL THAT PROVIDES INPATIENT AND OUTPATIENT MEDICAL SERVICES AND PHYSICIAN SERVICES IN BENNINGTON AND THE SURROUNDING AREA. IT IS VERMONT'S ONLY MAGNET HOSPITAL FOR NURSING EXCELLENCE. ITS SERVICES INCLUDE A FULLY STAFFED EMERGENCY DEPARTMENT, INCLUDING A CHEST PAIN UNIT, CANCER CENTER, A FAMILY CENTERED BIRTH PLACE, MINIMALLY INVASIVE AND OTHER SURGICAL SERVICES, A RENAL DIALYSIS UNIT, A FULL SERVICE ACCREDITED LABORATORY, PRIMARY CARE AND SPECIALIST PHYSICIANS. THERE ARE SATELLITE CAMPUSES IN DEERFIELD VALLEY, NORTHSHIRE AND POWNAL. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.
THE MEDICAL PRACTICE GROUP INCLUDES: PRIMARY CARE PHYSICIANS, RHEUMATOLOGY AND IMMUNOLOGY, RADIATION ONCOLOGY, MEDICAL ONCOLOGY, PEDIATRIC PRACTICE, GENERAL SURGERY PRACTICE, GASTROENTEROLOGY, UROLOGY PRACTICE, ORTHOPEDICS, THREE OFF CAMPUS CLINICS, INTERNAL MEDICINE PRACTICE, INFECTIOUS DISEASE PRACTICE, OB/GYN PRACTICE, ANESTHESIA SERVICES, DENTISTRY, GERIATRIC PRACTICE, PULMONOLOGY, DERMATOLOGY, NEUROLOGY, CARDIOLOGY, PALLIATIVE CARE AND ENDOCRINOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas A Dee Trustee / CEO Svhc | OfficerTrustee | 40 | $1,408,657 |
Michael E Brady Trustee / Dentist | Trustee | 38 | $176,442 |
Kathleen Fisher Chair | OfficerTrustee | 1 | $0 |
Stephen Kelly Vice Chair | OfficerTrustee | 1 | $0 |
Dimitri Garder Secretary | OfficerTrustee | 1 | $0 |
Angie Marano Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dartmouth Hithcock Medical Center Psa Agreement | 9/29/23 | $36,757,743 |
Dartmouth Hitchcock Medical Center Purchased Lab, Tech, Admin Svcs | 9/29/23 | $2,154,579 |
Renovo Solutions Llc Biomedical Engineering | 9/29/23 | $1,064,854 |
Tlc Nursing Associates Inc Nursing Staff | 9/29/23 | $631,553 |
Claro Healthcare Llc Inpatient Cdi | 9/29/23 | $655,866 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $301,615 |
| Government grants | $658,674 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,782 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,034,071 |
| Total Program Service Revenue | $195,970,048 |
| Investment income | $332,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,200 |
| Net Gain/Loss on Asset Sales | $287,372 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $197,634,599 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,000 |
| 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. | $2,425,384 |
| Compensation of current officers, directors, key employees. | $1,925,822 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,762,498 |
| Pension plan accruals and contributions | $2,037,802 |
| Other employee benefits | $11,471,536 |
| Payroll taxes | $4,445,919 |
| Fees for services: Management | $2,104,258 |
| Fees for services: Legal | $280,826 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,271 |
| Fees for services: Other | $54,355,597 |
| Advertising and promotion | $322,290 |
| Office expenses | $0 |
| Information technology | $4,259,544 |
| Royalties | $0 |
| Occupancy | $4,979,514 |
| Travel | $114,899 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,117 |
| Interest | $1,518,145 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,983,457 |
| Insurance | $586,853 |
| All other expenses | $6,837,870 |
| Total functional expenses | $204,195,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $468,684 |
| Savings and temporary cash investments | $10,579,224 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,671,010 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,965,610 |
| Prepaid expenses and deferred charges | $3,638,379 |
| Net Land, buildings, and equipment | $62,106,995 |
| Investments—publicly traded securities | $17,708,893 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,503,580 |
| Total assets | $125,642,375 |
| Accounts payable and accrued expenses | $29,816,876 |
| Grants payable | $0 |
| Deferred revenue | $317,364 |
| Tax-exempt bond liabilities | $27,264,970 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,857,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,798,694 |
| Total liabilities | $81,055,804 |
| Net assets without donor restrictions | $44,586,571 |
| 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 | $125,642,375 |
Grants Awarded
Over the last fiscal year, Southern Vermont Medical Center Inc has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GREATER BENNINGTON INTERFAITH COMMUNITY SERVICE PURPOSE: SUPPORT | $20,000 |
BENNINGTON COUNTY REGIONAL COMMISSION PURPOSE: SUPPORT | $20,000 |