Childrens Hospital Medical Center Of Akron
- Assets
- $2.0b
- Revenue
- $1.2b
- Investments
- $0.0
- Employees
- 8,223
- Location
- Akron, OH
- Founding
- 04/1937
- Data as of
- 12/2022
- EIN
- 34-0714357
Organization Overview
Childrens Hospital Medical Center Of Akron, operating under the name Akron Children's, is located in Akron, OH. The organization was established in 1937. According to its NTEE Classification (E24) the organization is classified as: Specialty Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2022, Akron Children's employed 8,223 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Akron Children's 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, Akron Children's generated $1.2b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $1.1b during the year ending 12/2022. While expenses have increased by 6.2% 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.
Since 2014, Akron Children's has awarded 60 individual grants totaling $12,869,185. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON ("CHMCA") IS DEDICATED TO IMPROVING THE HEALTH OF CHILDREN THROUGH QUALITY PATIENT CARE, RESEARCH & EDUCATION, COMMUNITY SERVICE, AND CHILD ADVOCACY.
Describe the Organization's Program Activity:
CHMCA IS THE LARGEST PEDIATRIC HEALTHCARE SYSTEM IN NORTHEAST OHIO, OPERATING ONE HOSPITAL WITH TWO CAMPUSES IN NORTHEAST OHIO, INCLUDING INPATIENT AND OUTPATIENT SERVICES, 2 EMERGENCY DEPARTMENTS, 4 URGENT CARES, 35 PEDIATRICIAN OFFICES, AND MORE THAN 60 PRIMARY & SPECIALTY LOCATIONS. DURING 2022, CHMCA SERVED OVER 1,200,000 PATIENT VISITS THROUGH ALL OF ITS PROGRAMS.INPATIENT SERVICES INCLUDE AREAS OF ROUTINE CARE, NEONATAL INTENSIVE CARE, PEDIATRIC INTENSIVE CARE, BEHAVIORAL HEALTH, REGIONAL BURN CENTER, HEMATOLOGY/ONCOLOGY, AND EMERGENCY/TRAUMA SERVICES. OUTPATIENT SERVICES OFFERS UNIQUE SERVICES IN A BROAD RANGE OF PEDIATRIC SUBSPECIALTIES SUCH AS NEONATOLOGY, BEHAVIORAL HEALTH,REHABILITATION SERVICES, CARDIOLOGY, PLASTIC SURGERY, GENETICS, MATERNAL FETAL MEDICINE, URGENT AND QUICK CARE, ADOLESCENT MEDICINE, PALLIATIVE CARE, PULMONARY MEDICINE, UROLOGY, OPHTHALMOLOGY, ORTHOPEDICS, NEUROLOGY, ALLERGY, DENTAL, ADDICTION SERVICES, PHYSICAL AND OCCUPATIONAL THERAPY, AND INFECTIOUS DISEASE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Gessner President & CEO | OfficerTrustee | 40 | $1,015,692 |
Robert Mcgregor MD Director / Chief Medical Officer | OfficerTrustee | 46 | $763,436 |
Shefali Mahesh MD Department Chair Of Pediatrics | Trustee | 48 | $458,259 |
Virginia C Addicott Chair Of Board Of Directors | OfficerTrustee | 19 | $0 |
Lisa M Bandwen Secretary | OfficerTrustee | 14 | $0 |
Robert C Berk Director | Trustee | 7 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Qualivis Llc Clinical Temp Svcs | 12/30/22 | $13,341,980 |
Mckesson Plasma & Biologicsllc Medical Services | 12/30/22 | $12,447,800 |
Marcus Thomas Llc Broadcast Media | 12/30/22 | $6,429,473 |
Pediatric & Adolescent Urology Medical Services | 12/30/22 | $3,961,926 |
Summit Construction Co Llc Construction Svcs | 12/30/22 | $2,653,256 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $677,963 |
| Related organizations | $14,368,908 |
| Government grants | $4,188,992 |
| All other contributions, gifts, grants, and similar amounts not included above | $878,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,114,563 |
| Total Program Service Revenue | $1,176,233,927 |
| Investment income | $12,530,547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,168,594 |
| Net Income from Fundraising Events | -$830,263 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,208,071,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,166,285 |
| 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. | $11,437,040 |
| Compensation of current officers, directors, key employees. | $11,437,040 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $541,501,225 |
| Pension plan accruals and contributions | $32,026,053 |
| Other employee benefits | $83,292,300 |
| Payroll taxes | $34,899,701 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $987,237 |
| Fees for services: Accounting | $517,530 |
| Fees for services: Lobbying | $196,713 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,148,154 |
| Fees for services: Other | $86,366,585 |
| Advertising and promotion | $11,832,033 |
| Office expenses | $13,776,272 |
| Information technology | $4,936,671 |
| Royalties | $0 |
| Occupancy | $7,614,002 |
| Travel | $2,900,199 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,863,344 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,604,859 |
| Insurance | $6,540,833 |
| All other expenses | -$113,897 |
| Total functional expenses | $1,125,930,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,632 |
| Savings and temporary cash investments | $218,750,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,576,332 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $45,521,438 |
| Inventories for sale or use | $10,993,922 |
| Prepaid expenses and deferred charges | $13,969,696 |
| Net Land, buildings, and equipment | $614,346,300 |
| Investments—publicly traded securities | $641,163,622 |
| Investments—other securities | $0 |
| Investments—program-related | $30,561,299 |
| Intangible assets | $0 |
| Other assets | $236,893,871 |
| Total assets | $1,981,794,990 |
| Accounts payable and accrued expenses | $186,021,060 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $83,892,426 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $81,216,504 |
| Unsecured mortgages and notes payable | $79,522,641 |
| Other liabilities | $134,678,662 |
| Total liabilities | $565,331,293 |
| Net assets without donor restrictions | $1,307,787,533 |
| Net assets with donor restrictions | $108,676,164 |
| 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 | $1,981,794,990 |
Grants Awarded
Over the last fiscal year, Childrens Hospital Medical Center Of Akron has awarded $481,462 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $17,000 |
AKRON COMMUNITY FOUNDATION PURPOSE: GENERAL SUPPORT | $15,450 |
AMERICAN HEART ASSOCIATION PURPOSE: GENERAL SUPPORT | $22,500 |
RONALD MCDONALD HOUSE CHARITIES OF NORTHEAST OHIO INC PURPOSE: GENERAL SUPPORT | $7,800 |
AKRON ZOOLOGICAL PARK PURPOSE: GENERAL SUPPORT | $19,200 |
MARCH OF DIMES PURPOSE: GENERAL SUPPORT | $8,000 |