Hoag Clinic Inc
- Assets
- $124.8m
- Revenue
- $211.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 06/2018
- Data as of
- 12/2021
- EIN
- 33-0676831
Organization Overview
Hoag Clinic Inc is located in Newport Beach, CA. The organization was established in 2018. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, 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. Hoag Clinic 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 12/2021, Hoag Clinic Inc generated $211.6m in total revenue. All expenses for the organization totaled $303.9m during the year ending 12/2021. While expenses have increased by 181.1% per year over the past 4 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
HOAG CLINIC'S MISSION IS TO PROMOTE THE CONTINUED AVAILABILITY OF HEALTH CARE SERVICES TO ALL PERSONS AND PROVIDE COMMUNITY EDUCATION TO HEALTH CARE PROFESSIONALS AND CONDUCT CLINICAL RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OHOAG CLINIC'S PRIMARY PURPOSE IS TO ESTABLISH, OPERATE AND MAINTAIN CHARITABLE AND EDUCATIONAL PURPOSES (I) MULTISPECIALTY MEDICAL CLINICS AND OTHER CLINICS PURSUANT TO THE PROVISIONS OF SECTION 1206(G) OF THE CALIFORNIA HEALTH AND SAFETY CODE AND OTHER OUTPATIENT OR AMBULATORYHEALTH CARE FACILITIES, ENTITIES AND PROGRAMS FOR THE PROVISION OF HEALTH CARE SERVICES AND (II) EDUCATIONAL FACILITIES THAT, AMONG OTHER THINGS, CONDUCT HEALTH EDUCATION ACTIVITIES AND ENGAGE IN PROGRAMS AND ACTIVITIES DESIGNED TO MEET THE HEALTH, EDUCATION AND SOCIAL NEEDS OF THE GENERAL PUBLIC.IN 2022, HOAG CLINIC PROVIDED PRIMARY CARE SERVICES (INTERNAL MEDICINE, FAMILY PRACTICE, PEDIATRICS), CONCIERGE MEDICINE, OBSTETRICS AND GYNECOLOGY, URGENT CARE SERVICES, ONCOLOGY AND MANY OTHER SPECIALTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Braithwaite President & CEO | OfficerTrustee | 2 | $0 |
Kris Iyer MD VP Sr & Chief Phys Dev Officer | Trustee | 52 | $0 |
Vicki Booth Board Member | Trustee | 2 | $0 |
James Caillouette MD Board Member | Trustee | 2 | $79,156 |
Karen Linden Board Member | Trustee | 2 | $0 |
Jeffrey Margolis Board Member / Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hoag Medical Group Medical Services | 12/30/22 | $40,937,490 |
Hoag Specialty Clinic Medical Services | 12/30/22 | $18,960,581 |
Newport Family Medicine Medical Services | 12/30/22 | $4,826,136 |
Newport Cardiac & Thoracic Medical Services | 12/30/22 | $5,834,247 |
Orange Coast Women's Medical Group Medical Services | 12/30/22 | $18,260,793 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,534,403 |
| 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 | $1,534,403 |
| Total Program Service Revenue | $200,827,158 |
| Investment income | $11,887 |
| 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 | $211,626,917 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| 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. | $1,583,579 |
| Compensation of current officers, directors, key employees. | $1,583,579 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,720,093 |
| Pension plan accruals and contributions | $2,349,303 |
| Other employee benefits | $6,029,139 |
| Payroll taxes | $4,145,581 |
| Fees for services: Management | $3,181,421 |
| Fees for services: Legal | $1,088,541 |
| Fees for services: Accounting | $1,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $69,191,773 |
| Advertising and promotion | $3,804,716 |
| Office expenses | $2,665,145 |
| Information technology | $1,622,784 |
| Royalties | $0 |
| Occupancy | $20,126,100 |
| Travel | $141,454 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $129,903 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,893,539 |
| Insurance | $124,213 |
| All other expenses | $4,032,125 |
| Total functional expenses | $303,933,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,439,611 |
| Savings and temporary cash investments | $604 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,541,572 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $426,384 |
| Prepaid expenses and deferred charges | $3,877,359 |
| Net Land, buildings, and equipment | $39,918,739 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $27,958,542 |
| Other assets | $7,650,612 |
| Total assets | $124,813,423 |
| Accounts payable and accrued expenses | $23,717,973 |
| Grants payable | $0 |
| Deferred revenue | $867,007 |
| 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 | $8,949,396 |
| Total liabilities | $33,534,376 |
| Net assets without donor restrictions | $91,279,047 |
| 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 | $124,813,423 |
Grants Awarded
Over the last fiscal year, Hoag Clinic Inc has awarded $66,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MIRACLES FOR KIDS PURPOSE: PROGRAM SUPPORT PROGRAM SUPPORT | $60,000 |
HOAG CHARITY SPORTS | | | $6,000 |