Montgomery Hospital
- Assets
- $26.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 06/1937
- Data as of
- 06/2021
- EIN
- 23-1352193
Organization Overview
Montgomery Hospital is located in Philadelphia, PA. The organization was established in 1937. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Montgomery 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, Montgomery Hospital generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.4%) each year. All expenses for the organization totaled $207.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (22.9%) per year over the past 6 years. 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
PROVIDES ACUTE CARE HEALTH SERVICES TO THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTGOMERY HOSPITAL ADMITS AND TREATS ALL INDIVIDUALS WHO REQUIRE SERVICES REGARDLESS OF THEIR ABILITY TO PAY FOR THOSE SERVICES. THESE INCLUDE ACUTE CARE ADMISSIONS, PSYCHIATRIC CARE ADMISSIONS, OUTPATIENT SERVICES, AND PATIENT SERVICES IN THE REGULAR EMERGENCY UNIT. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF MONTGOMERY HOSPITAL, IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES. DESPITE THIS, THE HOSPITAL'S MISSION IS TO SERVE THE COMMUNITY WITH RESPECT TO PROVIDING HEALTHCARE SERVICES AND AN OVERALL COMMITMENT TO SERVICE ITS COMMUNITY. THESE SERVICES INCLUDE: FREE CARE AND/OR SUBSIDIZED CARE, CARE PROVIDED TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS AT BELOW COST, AND HEALTH ACTIVITIES AND PROGRAMS TO SUPPORT THE COMMUNITY AND ARE PROVIDED WHERE THE NEED AND/OR AN INDIVIDUAL'S INABILITY TO PAY COEXISTS. HEALTH ACTIVITIES AND PROGRAMS INCLUDE WELLNESS PROGRAMS, COMMUNITY EDUCATION PROGRAMS, SPECIAL PROGRAMS FOR THE ELDERLY, HANDICAPPED, MEDICALLY UNDERSERVED, AND A VARIETY OF BROAD COMMUNITY SUPPORT ACTIVITIES. UNCOMPENSATED CARES IS PROVIDED BY THE HOSPITAL IN CONNECTION WITH THESE COMMUNITY SERVICES. UNCOMPENSATED CARE INCLUDES CHARITY CARE AND BAD DEBTS FROM PROVIDING UNREIMBURSED SERVICES TO INDIVIDUALS. UNCOMPENSATED CARE ALSO INCLUDES SERVICES PROVIDED UNDER FEDERAL MEDICARE AND STATE MEDICAL ASSISTANCE PROGRAMS WHERE REIMBURSEMENT WAS LESS THAN THE COST OF SERVICES PROVIDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry R Freedman President & CEO (thru 12/20) | OfficerTrustee | 1 | $0 |
Kenneth Levitan President & CEO (beg. 01/21) | OfficerTrustee | 1 | $0 |
Steven Berk ESQ Vice Chairperson | OfficerTrustee | 1 | $0 |
Lawrence S Reichlin Chairperson | OfficerTrustee | 1 | $0 |
Penny J Rezet ESQ Chief Legal Counsel-Secretary | Officer | 1 | $0 |
Gerard Blaney VP & CFO - Treasurer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elon Group Ltd Construction Svcs | 6/29/17 | $349,605 |
Dugan Babij Tolley Kohler Llc Legal Services | 6/29/17 | $4,000,000 |
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 | $0 |
| Investment income | $436,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $141,413 |
| Net Gain/Loss on Asset Sales | $1,264,580 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,068,782 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $167,233 |
| Advertising and promotion | $0 |
| Office expenses | $30 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,296 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | -$186,136 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $207,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,144,653 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $34,499 |
| Net Land, buildings, and equipment | $839,715 |
| Investments—publicly traded securities | $497,466 |
| Investments—other securities | $0 |
| Investments—program-related | $196,540 |
| Intangible assets | $0 |
| Other assets | $23,951,304 |
| Total assets | $26,664,177 |
| Accounts payable and accrued expenses | $22,005,655 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,351,964 |
| Total liabilities | $23,357,619 |
| Net assets without donor restrictions | -$10,720,215 |
| Net assets with donor restrictions | $14,026,773 |
| 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 | $26,664,177 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montgomery Hospital has recieved totaling $2,744.
| Awarding Organization | Amount |
|---|---|
Norris D Wright Charitable Trust Pittsburgh, PA PURPOSE: UNRESTRICTED GRANT | $2,744 |
Endowment Analysis
| Beg. Balance | $10,972,007 |
| Earnings | $2,635,323 |
| Ending Balance | $13,607,330 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Upmc Lititz Harrisburg, PA | $81,864,299 | $83,139,500 |
Rome Memorial Hospital Inc Rome, NY | $72,806,706 | $103,415,729 |
Guthrie Cortland Medical Center Cortland, NY | $104,605,193 | $96,207,960 |
Harford Memorial Hospital Inc Havre De Grace, MD | $204,952,590 | $97,757,591 |
Jeanes Hospital Philadelphia, PA | $0 | $90,864,313 |
Lehigh Valley Hospital - Coordinated Health Allentown Allentown, PA | $172,900,540 | $112,544,100 |
Bay Park Community Hospital Toledo, OH | $58,778,879 | $103,810,079 |
Aurelia Osborn Fox Memorial Hospital Society Oneonta, NY | $63,274,804 | $82,131,187 |
Joint Township District Memorial Hospital St Marys, OH | $81,862,337 | $95,172,211 |
Clifton Springs Sanitarium Co Clifton Springs, NY | $86,331,119 | $88,748,447 |
Blue Mountain Hospital Allentown, PA | $0 | $78,395,652 |
St Agnes Continuing Care Center Newtown Square, PA | $67,369,995 | $92,613,131 |