The Medical Center At Ocean Reef Inc
- Assets
- $2.8m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 33
- Location
- Key Largo, FL
- Founding
- 12/1974
- Data as of
- 06/2021
- EIN
- 23-7438190
Organization Overview
The Medical Center At Ocean Reef Inc is located in Key Largo, FL. The organization was established in 1974. 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 06/2021, Medical Center At Ocean Reef Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Center At Ocean Reef 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 06/2021, Medical Center At Ocean Reef Inc generated $6.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $6.0m during the year ending 06/2021. While expenses have increased by 8.1% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEDICAL SERVICES TO THE PUBLIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MEDICAL CENTER PROVIDES CERTAIN MEDICAL SERVICES TO THE PUBLIC. DURING THE YEAR ENDED JUNE 30, 2021, THE MEDICAL CENTER HANDLED OVER 5,000 PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rene Fernandez Physician | 40 | $255,887 | |
Suzanne Romeo Physician | 40 | $254,683 | |
Richard Baxley Physician | 40 | $242,125 | |
Carlos Smith Physician | 40 | $228,319 | |
William Keith Young Asst. Sec/treasurer/ceo | 20 | $221,747 | |
Mara Cakans Nurse Practioner | 40 | $124,168 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,902,949 |
| Government grants | $387,526 |
| 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 | $3,290,475 |
| Total Program Service Revenue | $2,853,247 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,414 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,585,064 |
| 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 | $2,710,097 |
| Pension plan accruals and contributions | $167,504 |
| Other employee benefits | $469,129 |
| Payroll taxes | $202,715 |
| Fees for services: Management | $125,000 |
| Fees for services: Legal | $19,992 |
| Fees for services: Accounting | $14,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,134 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,151 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $506,065 |
| Insurance | $107,516 |
| All other expenses | $761,876 |
| Total functional expenses | $5,990,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,703 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $264,066 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,300 |
| Inventories for sale or use | $77,746 |
| Prepaid expenses and deferred charges | $16,724 |
| Net Land, buildings, and equipment | $1,976,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $343,072 |
| Total assets | $2,795,196 |
| Accounts payable and accrued expenses | $659,129 |
| Grants payable | $0 |
| Deferred revenue | $482,284 |
| 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 | $343,072 |
| Total liabilities | $1,484,485 |
| Net assets without donor restrictions | $1,310,711 |
| 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 | $2,795,196 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Medical Center At Ocean Reef Inc has recieved totaling $6,500.
| Awarding Organization | Amount |
|---|---|
Bahl Family Foundation Cincinnati, OH PURPOSE: DONATION | $6,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Madison County Hospital Health Systems Inc Madison, FL | $21,232,395 | $16,268,101 |
Wellstar Sylvan Grove Hospital Inc Marietta, GA | $8,619,975 | $16,516,673 |
Bethesda Hospital Foundation Inc Boynton Beach, FL | $0 | $15,727,989 |
Calhoun-Liberty Hospital Association Inc Blountstown, FL | $15,521,432 | $17,868,224 |
Lakeshore Foundation Birmingham, AL | $92,560,470 | $11,018,309 |
Infirmary Health Hospitals Inc Mobile, AL | $7,196,361 | $12,574,005 |
Quantum Foundation Inc West Palm Beach, FL | $185,235,492 | $17,292,125 |
Glynn-Brunswick Memorial Hospital Authority Brunswick, GA | $242,841,000 | $8,949,000 |
Sarasota Memorial Healthcare Foundation Sarasota, FL | $91,301,745 | $47,413,384 |
Winter Park Health Foundation Inc Winter Park, FL | $158,422,694 | $11,419,783 |
Lee Memorial Hospital Inc Fort Myers, FL | $12,274,273 | $9,017,742 |
Hospital Authority Of Clarke County Georgia Athens, GA | $176,767,692 | $7,567,283 |