Chesapeake Regional Medical Group
- Assets
- $4.6m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 236
- Location
- Chesapeake, VA
- Founding
- 01/2011
- Data as of
- 06/2021
- EIN
- 26-2366542
Organization Overview
Chesapeake Regional Medical Group is located in Chesapeake, VA. The organization was established in 2011. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2021, Chesapeake Regional Medical Group employed 236 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chesapeake Regional Medical Group 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, Chesapeake Regional Medical Group generated $12.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $24.3m during the year ending 06/2021. While expenses have increased by 15.7% 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
THE MISSION OF CHESAPEAKE REGIONAL MEDICAL GROUP IS TO ATTRACT HARD-TO-FIND PHYSICIANS TO THE CHESAPEAKE, VIRGINIA AREA AND RETAIN THEM WITH PRACTICE ADMINISTRATION ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PHYSICIAN SERVICES TO CHESAPEAKE, VIRGINIA, AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aarti Desai Physician | 40 | $738,507 | |
Mary In-Ping Huang Cobb Physician | 40 | $706,541 | |
Antonio Ruiz MD Physician | 40 | $508,798 | |
Joseph Jenkins MD Physician | 40 | $484,130 | |
John Robert Baker Physician | 40 | $479,092 | |
Steve Mcdonnell CFO | Officer | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Modio Health Inc Physician Credential | 6/29/21 | $273,907 |
Chg Companies Inc Physician Coverage | 6/29/21 | $108,852 |
Bayview Physicians Pc Physician Coverage | 6/29/21 | $231,716 |
Thomas L Carter Md Physician Coverage | 6/29/21 | $102,606 |
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 | $11,289,421 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $12,231,172 |
| 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 | $16,113,898 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,911,792 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $173,369 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $104,994 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $518,818 |
| Insurance | $509,512 |
| All other expenses | $2,201,275 |
| Total functional expenses | $24,302,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,229,840 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,172,012 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $168 |
| Prepaid expenses and deferred charges | $66,437 |
| Net Land, buildings, and equipment | $2,063,841 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,436 |
| Total assets | $4,557,734 |
| Accounts payable and accrued expenses | $297,744 |
| 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 | $66,139,451 |
| Total liabilities | $66,437,195 |
| Net assets without donor restrictions | -$61,879,461 |
| 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 | $4,557,734 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chesapeake Regional Medical Group has recieved totaling $109,081.
| Awarding Organization | Amount |
|---|---|
Virginia Hospital Research And Education Foundation Richmond, VA PURPOSE: HOSPITAL VIOLENCE INTERVENTION PROGRAM | $109,081 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Corvesta Inc Roanoke, VA | $82,180,783 | -$1,235,003 |
Inova Health System Foundation Fairfax, VA | $6,680,265,525 | $824,217,139 |
Carolina Medicorp Enterprises Llc Winston Salem, NC | $11,898,708 | $46,315,888 |
Childrens Health System Inc Norfolk, VA | $122,433,385 | $34,959,405 |
Fauquier Health Foundation Warrenton, VA | $249,193,841 | $9,571,718 |
Chesapeake Regional Medical Group Chesapeake, VA | $4,557,734 | $12,231,172 |
Calvert Health System Inc Prince Frederick, MD | $134,464,089 | $23,125,484 |
North Carolina Agricultural Foundation Inc Raleigh, NC | $248,209,354 | $30,308,869 |
Mid-South Carp Regional Council Health & Welfare Fund Goodlettsville, TN | $42,702,855 | $23,372,218 |
Childrens Hospital And Healthcare Services Foundation Richmond, VA | $253,228,925 | $70,265,641 |
Construction Industry Of Kansas Health & Welfare Trust Fund Agreem Lexington, KY | $4,313,780 | $19,547,175 |
Carpenters Health Fund Of West Virginia Ona, WV | $33,945,838 | $18,485,815 |