Concord Hospital Inc
- Assets
- $819.5m
- Revenue
- $623.5m
- Investments
- $179.7m
- Employees
- 5,529
- Location
- Concord, NH
- Founding
- 03/1987
- Data as of
- 09/2023
- EIN
- 22-2594672
Organization Overview
Concord Hospital Inc is located in Concord, NH. The organization was established in 1987. 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, Concord Hospital Inc employed 5,529 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Concord Hospital 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, Concord Hospital Inc generated $623.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $595.9m 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOSPITAL
Describe the Organization's Program Activity:
VARIOUS HOSPITAL SERVICES; SEE SCHEDULE H.IN FYE 2023, CONCORD HOSPITAL INVESTED OVER $74 MILLION IN COMMUNITY BENEFIT PROGRAMS, SERVICES, AND OTHER EXPENSES. THE LARGEST AREAS OF SUPPORT WERE CHARITABLE CARE SERVICES, MEDICAL EDUCATION AND SUBSIDIZED PROGRAMS AND SERVICES. OUR INVESTMENT ENHANCES THE HOSPITAL'S ABILITY TO PROVIDE QUALITY PATIENT CARE, RESPOND TO IDENTIFIED COMMUNITY HEALTH NEEDS AND ADDRESS THE HOSPITAL'S CHARITABLE MISSION OVERALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert P Steigmeyer President & Ceo, Member Ex-Officio | OfficerTrustee | 56 | $1,440,673 |
Joseph Meyer MD Trustee | Trustee | 51 | $120,000 |
Christopher Allen MD Trustee/ch Med. Staff President | Trustee | 51 | $337,228 |
Sol Asmar Trustee (end 1/2023) | Trustee | 1 | $0 |
Frederick Briccetti MD Trustee | Trustee | 1 | $0 |
Lucy Hodder ESQ Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medefis Consolidated Professional Services | 9/29/23 | $15,085,653 |
Core Medical Group Professional Services | 9/29/23 | $8,272,680 |
Anesthesia Associates Pa Healthcare Services | 9/29/23 | $7,899,171 |
Concord Orthopaedics Pa Healthcare Services | 9/29/23 | $6,095,570 |
Harvey Construction Corp Construction Services | 9/29/23 | $1,528,647 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $12,645,483 |
| Government grants | $750,000 |
| 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 | $13,395,483 |
| Total Program Service Revenue | $594,400,395 |
| Investment income | $9,209,681 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $799,536 |
| Net Gain/Loss on Asset Sales | $5,365,333 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $209,966 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $623,479,394 |
| 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. | $4,592,809 |
| Compensation of current officers, directors, key employees. | $736,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,356,524 |
| Pension plan accruals and contributions | $10,892,032 |
| Other employee benefits | $37,692,806 |
| Payroll taxes | $13,800,396 |
| Fees for services: Management | $2,089,448 |
| Fees for services: Legal | $355,643 |
| Fees for services: Accounting | $319,783 |
| Fees for services: Lobbying | $48,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $826,272 |
| Fees for services: Other | $45,619,087 |
| Advertising and promotion | $247,433 |
| Office expenses | $5,446,163 |
| Information technology | $1,909,881 |
| Royalties | $0 |
| Occupancy | $14,363,956 |
| Travel | $829,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,609,270 |
| Interest | $4,273,233 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,842,892 |
| Insurance | $4,555,992 |
| All other expenses | $3,980,038 |
| Total functional expenses | $595,874,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,114,907 |
| Savings and temporary cash investments | $46,393,988 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,000,334 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,047,602 |
| Prepaid expenses and deferred charges | $8,285,264 |
| Net Land, buildings, and equipment | $154,130,970 |
| Investments—publicly traded securities | $212,415,062 |
| Investments—other securities | $179,735,441 |
| Investments—program-related | $0 |
| Intangible assets | $33,853,425 |
| Other assets | $42,542,645 |
| Total assets | $819,519,638 |
| Accounts payable and accrued expenses | $89,675,451 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $151,668,672 |
| 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 | $129,768,975 |
| Total liabilities | $371,113,098 |
| Net assets without donor restrictions | $448,406,540 |
| 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 | $819,519,638 |
Grants Awarded
Over the last fiscal year, Concord Hospital Inc has awarded $80,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
RIVERBEND COMMUNITY MENTAL HEALTH PURPOSE: Support for: continuing education & training of staff, clinical staff at Concord Homeless Resource Center, and general operating support. | $60,000 |
CONCORD REGIONAL VISITING NURSE ASSOCIATION INC PURPOSE: Purchase of two i-stat machines for diagnostic testing. | $20,000 |