Kentucky Institute For Patient Safety And Quality Inc
- Assets
- $810.4k
- Revenue
- $535.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 02/2011
- Data as of
- 06/2022
- EIN
- 26-4657040
Organization Overview
Kentucky Institute For Patient Safety And Quality Inc is located in Louisville, KY. The organization was established in 2011. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., 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. Kentucky Institute For Patient Safety And Quality 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 06/2022, Kentucky Institute For Patient Safety And Quality Inc generated $535.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $489.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE IMPROVEMENT OF HEALTH CARE QUALITY AND PATIENT SAFETY, COLLECTION OF PATIENT SAFETY WORK PRODUCT AND RELATED INFORMATION AND USE OF THIS COLLECTED DATA AND INFORMATION IS THE BASIS FOR EDUCATING HEALTHCARE ENTITIES, AND HEALTHCARE PROFESSIONALS TO MAKE ADVANCES IN THE AREAS OF PATIENT SAFETY, ERROR PREVENTION, AND IMPROVEMENT IN THE QUALITY OF HEALTH CARE DELIVERED TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MAINTAINS A REPORTING SYSTEM FOR THE RECEIPT OF PATIENT SAFETY WORK PRODUCT BY MEMBER PROVIDERS AND PROVIDED TRAINING ON ITS USE AS NEEDED. ADDITIONALLY, EDUCATION WAS PROVIDED TO MEMBER ORGANIZATIONS ON VARIOUS TOPICS TO IMPROVE PATIENT SAFETY AND QUALITY THROUGH SEMINARS, WEBINARS, CONFERENCE CALLS, AND PERIODIC NEWSLETTERS. THE ORGANIZATION CONTINUES TO MONITOR ALL AREAS OF PATIENT SAFETY SPECIALLY RELATED TO, BUT NOT LIMITED TO, THE ARHQ COMMON FORMAT WHICH INCLUDES, BLOOD OR BLOOD PRODUCTS, MEDICAL/SURGICAL SUPPLY, FALLS, MEDICATION, PRESSURE ULCER, PERINATAL, VENOUS THROMBOEMBOLISM AND SURGERY/ANESTHESIA THROUGH THE COLLECTION AND ANALYSIS OF DATA FROM MEMBER ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruth M Carrico PHD Director | Trustee | 0.2 | $0 |
James M Frazier MD Director | Trustee | 0.2 | $0 |
Sheila Schuster PHD Director | Trustee | 0.2 | $0 |
Heidi Murley Director | Trustee | 0.2 | $0 |
Steven Stack MD Director (term Ended 12/31/21) | Trustee | 0.2 | $0 |
Clark Wheeler Director | Trustee | 0.05 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $50,000 |
| 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 | $50,000 |
| Total Program Service Revenue | $485,284 |
| Investment income | $190 |
| 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 | $535,474 |
| 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 | $158,945 |
| Fees for services: Legal | $7,950 |
| Fees for services: Accounting | $5,823 |
| 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 | $931 |
| Information technology | $2,209 |
| Royalties | $0 |
| Occupancy | $3,600 |
| Travel | $65 |
| 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 | $0 |
| Insurance | $16,752 |
| All other expenses | $0 |
| Total functional expenses | $489,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $803,450 |
| 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 | $6,903 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $810,353 |
| Accounts payable and accrued expenses | $17,607 |
| Grants payable | $0 |
| Deferred revenue | $161,542 |
| 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 | $5,242 |
| Total liabilities | $184,391 |
| Net assets without donor restrictions | $625,962 |
| 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 | $810,353 |