Preferred Hospice Inc
- Assets
- $2.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 42
- Location
- Richlands, VA
- Founding
- 06/2004
- Data as of
- 12/2022
- EIN
- 27-0086345
Organization Overview
Preferred Hospice Inc, operating under the name Legacy Hospice & Palliative Care, is located in Richlands, VA. The organization was established in 2004. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., under the broad grouping of Health Care and related organizations. As of 12/2023, Legacy Hospice & Palliative Care employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Hospice & Palliative Care 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 12/2022, Legacy Hospice & Palliative Care generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 10.0% per year over the past 8 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
TO PROVIDE HOSPICE, END OF LIFE CARE MANAGEMENT, TO INDIVIDUALS IN THE LOCAL COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOSPICE AND END OF LIFE CARE MANAGEMENT TO INDIVIDUALS IN THE LOCAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kevin S Combs Board Member/medical Direc | Trustee | 0.3 | $26,625 |
Richard Smith Board Member | Trustee | 0.3 | $0 |
Tammie Vencill Secretary | OfficerTrustee | 40 | $104,259 |
Peter Mulkey Vice President | OfficerTrustee | 0.3 | $0 |
Marc Brooks President | OfficerTrustee | 0.3 | $0 |
Dr Toeya Piriz Associate Medical Director | Trustee | 0.3 | $8,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,708 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,930 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,638 |
| Total Program Service Revenue | $1,865,670 |
| Investment income | $4,942 |
| 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 | $1,948,250 |
| 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. | $129,930 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,242,696 |
| Pension plan accruals and contributions | $29,154 |
| Other employee benefits | $87,164 |
| Payroll taxes | $102,801 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,899 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $720 |
| Advertising and promotion | $11,540 |
| Office expenses | $374,912 |
| Information technology | $28,878 |
| Royalties | $0 |
| Occupancy | $35,975 |
| Travel | $146,063 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,815 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $140 |
| Insurance | $54,526 |
| All other expenses | $1,503 |
| Total functional expenses | $2,343,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $777,645 |
| Savings and temporary cash investments | $1,053,338 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $723,019 |
| 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 | $12,202 |
| Net Land, buildings, and equipment | $343 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,566,547 |
| Accounts payable and accrued expenses | $124,508 |
| 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 | $0 |
| Total liabilities | $124,508 |
| Net assets without donor restrictions | $2,442,039 |
| 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 | $2,566,547 |