Riddle Memorial Hospital
- Assets
- $339.9m
- Revenue
- $233.7m
- Investments
- $0.0
- Employees
- 1,688
- Location
- Newtown Square, PA
- Founding
- 07/1964
- Data as of
- 06/2022
- EIN
- 23-1529076
Organization Overview
Riddle Memorial Hospital is located in Newtown Square, PA. The organization was established in 1964. 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 06/2022, Riddle Memorial Hospital employed 1,688 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riddle Memorial 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 06/2022, Riddle Memorial Hospital generated $233.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $250.2m during the year ending 06/2022. While expenses have increased by 4.8% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A COMPREHENSIVE RANGE OF HEALTH SERVICES THAT MEET THE NEEDS AND IMPROVE THE QUALITY OF LIFE IN THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIDDLE MEMORIAL HOSPITAL IS A 183-BED ACUTE CARE HOSPITAL LOCATED IN MEDIA, PENNSYLVANIA. ESTABLISHED IN 1964, RIDDLE MEMORIAL HOSPITAL CURRENTLY OFFERS PROGRESSIVE MEDICAL SERVICES WITH COMPASSIONATE CARE. INPATIENT SERVICES INCLUDE COMPLETE MATERNITY CARE IN OUR BIRTHPLACE, ALONG WITH LEVEL II NEONATAL INTENSIVE CARE, UROLOGY CARE, CONTINENCE PROGRAMS FOR WOMEN, HEART AND VASCULAR CARE, AND ORTHOPEDICS, TO NAME A FEW. FOR THE FISCAL YEAR PRESENTED, RIDDLE MEMORIAL HOSPITAL PROVIDED INPATIENT CARE TO 10,020 ADULT INPATIENTS, 93 NEONATAL CARE PATIENTS, ATTENDED TO 964 BIRTHS, AND PERFORMED 1,833 SURGERIES.
RIDDLE MEMORIAL HOSPITAL IS A 183-BED ACUTE CARE HOSPITAL LOCATED IN MEDIA, PENNSYLVANIA. ESTABLISHED IN 1964, RIDDLE MEMORIAL HOSPITAL CURRENTLY OFFERS PROGRESSIVE MEDICAL SERVICES WITH COMPASSIONATE CARE. INPATIENT SERVICES INCLUDE COMPLETE MATERNITY CARE IN OUR BIRTHPLACE, ALONG WITH LEVEL II NEONATAL INTENSIVE CARE, UROLOGY CARE, CONTINENCE PROGRAMS FOR WOMEN, HEART AND VASCULAR CARE, AND ORTHOPEDICS, TO NAME A FEW. FOR THE FISCAL YEAR PRESENTED, RIDDLE MEMORIAL HOSPITAL PROVIDED INPATIENT CARE TO 10,020 ADULT INPATIENTS, 93 NEONATAL CARE PATIENTS, ATTENDED TO 964 BIRTHS, AND PERFORMED 1,833 SURGERIES.
RIDDLE MEMORIAL HOSPITAL OFFERS OUTPATIENT SERVICES ON THE CAMPUS OF OUR HOSPITAL, AS WELL AS WITHIN AMBULATORY CARE FACILITIES IN THREE SURROUNDING AREAS (WESTTOWN, MEDIA AND CONCORDVILLE). OUTPATIENT SERVICES INCLUDE IMAGING SERVICES, CLINICAL LABORATORIES, SLEEP CENTER, NUTRITION & WEIGHT CENTER, OCCUPATIONAL HEALTH, SUPPORT GROUPS, AND HEALTH SCREENINGS, TO NAME A FEW. FOR THE FISCAL PERIOD PRESENTED, RIDDLE MEMORIAL HOSPITAL ATTENDED TO 167,909 OUTPATIENT VISITS, PERFORMED 5,866 SURGERIES, AND PROVIDED EMERGENCY CARE WITH 34,412 VISITS TO OUR HOSPITAL-BASED 24 HOUR/DAY 7 DAYS/WEEK EMERGENCY ROOM.
RIDDLE MEMORIAL HOSPITAL OFFERS OUTPATIENT SERVICES ON THE CAMPUS OF OUR HOSPITAL, AS WELL AS WITHIN AMBULATORY CARE FACILITIES IN THREE SURROUNDING AREAS (WESTTOWN, MEDIA AND CONCORDVILLE). OUTPATIENT SERVICES INCLUDE IMAGING SERVICES, CLINICAL LABORATORIES, SLEEP CENTER, NUTRITION & WEIGHT CENTER, OCCUPATIONAL HEALTH, SUPPORT GROUPS, AND HEALTH SCREENINGS, TO NAME A FEW. FOR THE FISCAL PERIOD PRESENTED, RIDDLE MEMORIAL HOSPITAL ATTENDED TO 167,909 OUTPATIENT VISITS, PERFORMED 5,866 SURGERIES, AND PROVIDED EMERGENCY CARE WITH 34,412 VISITS TO OUR HOSPITAL-BASED 24 HOUR/DAY 7 DAYS/WEEK EMERGENCY ROOM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Lynch III CEO & Trustee | OfficerTrustee | 1 | $0 |
Michael J Buongiorno Evp, CFO & Treasurer | Officer | 1 | $0 |
Barbara Wadsworth Evp & COO | Officer | 5 | $0 |
Brian T Corbett ESQ Svp, Gen Counsel & Secretary | Officer | 1 | $0 |
Shelly Buck President | Officer | 38 | $593,495 |
Jonathan Stallkamp Senior VP & Cmo | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Radiology Assoc Of Main Line Pc Healthcare Prof Svcs | 6/29/22 | $2,946,098 |
United Anesthesia Service Pc Healthcare Prof Svcs | 6/29/22 | $796,050 |
Main Line Emergency Medicine Assoc Professional Svcs | 6/29/22 | $526,794 |
Regional Women's Health Group Llc Healthcare Prof Svcs | 6/29/22 | $241,103 |
David A Thomas Ltd Healthcare Prof Svcs | 6/29/22 | $188,667 |
Radiology Assoc Of Main Line Pc Healthcare Prof Svcs | 6/29/22 | $2,946,098 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $841,916 |
| Government grants | $282,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $669,599 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,793,530 |
| Total Program Service Revenue | $222,297,771 |
| Investment income | $2,890,388 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,556,372 |
| Net Gain/Loss on Asset Sales | -$41,429 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $233,729,377 |
| 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. | $5,266,892 |
| Compensation of current officers, directors, key employees. | $5,266,892 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,545,633 |
| Pension plan accruals and contributions | $4,400,029 |
| Other employee benefits | $9,876,672 |
| Payroll taxes | $6,374,453 |
| Fees for services: Management | $19,891,655 |
| Fees for services: Legal | $67,671 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $7,847 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,235,534 |
| Advertising and promotion | $2,439 |
| Office expenses | $42,828,417 |
| Information technology | $6,432,396 |
| Royalties | $0 |
| Occupancy | $4,377,174 |
| Travel | $6,034 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,652 |
| Interest | $3,180,089 |
| Payments to affiliates | $13,637,766 |
| Depreciation, depletion, and amortization | $17,001,632 |
| Insurance | $3,947,770 |
| All other expenses | $416,837 |
| Total functional expenses | $250,220,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | -$6,077,785 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,803,249 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,577,943 |
| Prepaid expenses and deferred charges | $2,032,760 |
| Net Land, buildings, and equipment | $295,610,804 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,435,108 |
| Intangible assets | $0 |
| Other assets | $12,562,299 |
| Total assets | $339,944,378 |
| Accounts payable and accrued expenses | $41,220,772 |
| Grants payable | $0 |
| Deferred revenue | $416,309 |
| Tax-exempt bond liabilities | $113,102,353 |
| 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 | $37,000,403 |
| Total liabilities | $191,739,837 |
| Net assets without donor restrictions | $147,879,500 |
| Net assets with donor restrictions | $325,041 |
| 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 | $339,944,378 |