Preston Memorial Hospital Corporation
- Assets
- $60.8m
- Revenue
- $50.6m
- Investments
- $12.6m
- Employees
- 432
- Location
- Kingwood, WV
- Founding
- 06/1984
- Data as of
- 06/2021
- EIN
- 31-1097818
Organization Overview
Preston Memorial Hospital Corporation is located in Kingwood, WV. The organization was established in 1984. 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, Preston Memorial Hospital Corporation employed 432 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preston Memorial Hospital Corporation 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, Preston Memorial Hospital Corporation generated $50.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $46.5m during the year ending 06/2021. While expenses have increased by 3.5% 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
TO ENHANCE THE HEALTH OF THE COMMUNITIES WE SERVE, ONE PERSON AT A TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOSPITAL HAD 3,403 INPATIENT DAYS, CARED FOR 9,090 EMERGENCY PATIENTS AND TREATED 67,785 PATIENTS IN ITS OUTPATIENT CLINICS. THE HOSPITAL PROVIDES CARE REGARDLESS OF THE PATIENT'S ABILITY TO PAY. CHARGES FOREGONE FOR CHARITY CARE AMOUNTED TO $738,013.THE HOSPITAL PROMOTES AND PROVIDES ACTIVITIES SUCH AS HEALTH FAIRS, BLOOD DRIVES, AND A FITNESS CENTER TO IMPROVE THE HEALTH AND WELFARE OF ITS PATIENTS. THE HOSPITAL ALSO CONDUCTS COMMUNITY-WIDE SPEAKER BUREAUS TO HELP EDUCATE THE COMMUNITY ON SPECIFIC HEALTH AND WELLNESS MATTERS.THE HOSPITAL STRIVES TO PROVIDE AND PROMOTE NEEDED SERVICES IN THE COMMUNITY BY PARTNERING WITH LOCAL AGENCIES SUCH AS THE PRESTON COUNTY HEALTH DEPARTMENT, FAMILY RESOURCE NETWORK, PRESTON PREVENTION PARTNERSHIP, AND THE PRESTON COUNTY CHAMBER OF COMMERCE.
THE ORGANIZATION SPONSORED HEALTH FAIRS, BLOOD DRIVES, CANCER SCREENINGS, CPR/FIRST AID CLASSES, CRISIS INTERVENTION, DIABETES INTERVENTION, FAMILY/PARENTING/SIBLING EDUCATION, FITNESS EDUCATION, FLU SHOTS, NUTRITION/WEIGHT MAINTENANCE, SCHOOL BASED PROGRAMS, SENIOR EDUCATION AND OUTREACH PROGRAMS, SPORTS INJURY PREVENTION, SUBSTANCE ABUSE AND TOBACCO/SMOKING CESSATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank M Abraham MD Physician | 40 | $579,190 | |
David M Fourqurean MD Physician | 40 | $456,175 | |
Lorn A Wolfe MD Physician | 40 | $402,688 | |
Marisa Downey DO Physician | 40 | $386,145 | |
James Holehouse MD Physician | 40 | $277,846 | |
Bonnie Forman MD Chief Of Staff | Trustee | 20 | $146,957 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rural Physicians Group Hospitalists | 6/29/21 | $779,082 |
Laboratory Corporation Lab Testing Services | 6/29/21 | $264,660 |
Alliance Healthcare Services Mri Services | 6/29/21 | $243,180 |
Fusion Medical Staffing Llc Nurse Staffing Services | 6/29/21 | $230,615 |
Synergy Surgicalists Wv Inc Orthopedic Doctors | 6/29/21 | $1,404,368 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,677,329 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,848 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,710,177 |
| Total Program Service Revenue | $45,349,746 |
| Investment income | $191,272 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,555,683 |
| 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. | $171,385 |
| Compensation of current officers, directors, key employees. | $51,741 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,893,322 |
| Pension plan accruals and contributions | $536,344 |
| Other employee benefits | $4,061,157 |
| Payroll taxes | $1,321,907 |
| Fees for services: Management | $2,123,817 |
| Fees for services: Legal | $42,313 |
| Fees for services: Accounting | $22,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,574 |
| Fees for services: Other | $5,737,205 |
| Advertising and promotion | $75,722 |
| Office expenses | $1,297,056 |
| Information technology | $259,146 |
| Royalties | $0 |
| Occupancy | $460,334 |
| Travel | $57,372 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,064,140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,655,469 |
| Insurance | -$193,119 |
| All other expenses | $586,612 |
| Total functional expenses | $46,535,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,027,590 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,738,379 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $950,904 |
| Prepaid expenses and deferred charges | $152,468 |
| Net Land, buildings, and equipment | $25,198,060 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $12,617,192 |
| Investments—program-related | $0 |
| Intangible assets | $109,739 |
| Other assets | $2,013,312 |
| Total assets | $60,807,644 |
| Accounts payable and accrued expenses | $4,068,517 |
| 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 | $33,197,652 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,411,611 |
| Total liabilities | $48,677,780 |
| Net assets without donor restrictions | $12,129,864 |
| 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 | $60,807,644 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Preston Memorial Hospital Corporation has recieved totaling $585.
| Awarding Organization | Amount |
|---|---|
The Dorney-Koppel Foundation Inc Potomac, MD PURPOSE: GRANT FOR AARC PR CERTIFICATE COURSE FOR TWO RESPIRATORY THERAPISTS | $560 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $25 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maryview Hospital Llc Suffolk, VA | $0 | $126,392,609 |
Lehigh Valley Hospital - Schuykill Allentown, PA | $123,931,422 | $141,448,853 |
Wood County Hospital Assn Bowling Green, OH | $236,887,243 | $125,669,234 |
Davis Memorial Hospital Elkins, WV | $99,450,993 | $120,748,268 |
St Lukes Quakertown Hospital Allentown, PA | $224,667,230 | $112,978,373 |
U Of M Rehab & Orthopaedic Institute Baltimore, MD | $214,130,610 | $125,454,652 |
Shelby County Memorial Hospital Association Inc Sidney, OH | $171,819,264 | $129,965,258 |
Upmc Pittsburgh, PA | $122,342,039 | $105,892,952 |
Bon Secours-Richmond Community Hospital Richmond, VA | $200,107,508 | $168,768,277 |
Northeastern Pennsylvania Health Corporation Allentown, PA | $304,803,492 | $145,234,138 |
Reynolds Memorial Hospital Inc Glen Dale, WV | $68,940,537 | $122,482,209 |
Uva Culpeper Medical Center Culpeper, VA | $139,556,597 | $116,029,117 |