Akron General Medical Center
- Assets
- $455.7m
- Revenue
- $599.0m
- Investments
- $0.0
- Employees
- 3,842
- Location
- Independence, OH
- Founding
- 10/1928
- Data as of
- 12/2015
- EIN
- 34-0714478
Organization Overview
Akron General Medical Center is located in Independence, OH. The organization was established in 1928. 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. As of 12/2021, Akron General Medical Center employed 3,842 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Akron General Medical Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH AND LIVES OF THE PEOPLE AND COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
INPATIENT SERVICESAKRON GENERAL MEDICAL CENTER IS A HOSPITAL ORGANIZATION WHICH OPERATES TWO HOSPITAL FACILITIES - AKRON GENERAL MEDICAL CENTER AND THE EDWIN SHAW REHABILITATION INSTITUTE - AS WELL AS 3 REMOTE HEALH AND WELLNESS CENTERS EACH WITH 24 HOUR EMERGENCY ROOMS. AKRON GENERAL MEDICAL CENTER (AKRON GENERAL) IS A 537-BED TEACHING AND RESEARCH MEDICAL CENTER. OFFERING INPATIENT SERVICES FOR BOTH MEDICAL AND SURGICAL PATIENTS. AKRON GENERAL'S KEY CLINICAL AREAS OF FOCUS ARE HEART, VASCULAR, ONCOLOGY, NEUROSCIENCES, UROLOGY, ORTHOPAEDIC, WOMEN'S SERVICES AND TREATMENT FOR BOTH GENERAL AND TRAUMA RELATED EMERGENCIES.
OUTPATIENT SERVICESAKRON GENERAL OFFERS A VARIETY OF OUTPATIENT SERVICES ON ITS MAIN CAMPUS AND THROUGHOUT ITS NETWORK OF SATELLITE FACILITIES. OUTPATIENT SERVICES OFFERED TO PATIENTS INCLUDE RADIOLOGY, PHYSICAL THERAPY, CARDIAC, SURGERY, MAMMOGRAPHY, SLEEP CENTERS, LAB SERVICES AND EMERGENCY SERVICES.SEE SCHEDULE O PROGRAM SERVICE ACCOMPLISHMENTS FOR ADDITIONAL DETAIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Lavin MD Chairman, Ob/gyn | 50 | $460,092 | |
David Peter MD Sr VP Medical Officer | Officer | 50 | $426,492 |
Robert A Marley MD Director General Surgery | 50 | $409,155 | |
Farid Muakkassa MD Director Siu, Trauma | Officer | 50 | $355,753 |
Titus Sheers MD Chairman Medical Educ/research | Officer | 50 | $311,593 |
Cheryl Guster Sr VP Nursing Officer | Officer | 50 | $275,772 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexho Marriott Services Inc Service Management | 12/30/15 | $4,771,414 |
Sound Inpatient Physicians Of Ohio Hospitalists Services | 12/30/15 | $4,677,454 |
Anesthesiology Associates Of Akron Anesthesiologists | 12/30/15 | $3,354,557 |
General Emergency Medical Specialists Emergency Dept Services | 12/30/15 | $3,223,452 |
Cns Center For Neuro & Spine Contract Services & Trauma Call Coverage | 12/30/15 | $3,091,460 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $70,006 |
| Related organizations | $0 |
| Government grants | $129,874 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,581 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $201,461 |
| Total Program Service Revenue | $587,974,332 |
| Investment income | $2,340,260 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,201 |
| Net Rental Income | -$499,153 |
| Net Gain/Loss on Asset Sales | $7,273,831 |
| Net Income from Fundraising Events | $30,821 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $599,002,653 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $382,329 |
| Grants and other assistance to domestic individuals. | $3,350 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,606,848 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $198,711,130 |
| Pension plan accruals and contributions | $7,075,787 |
| Other employee benefits | $27,199,871 |
| Payroll taxes | $14,387,472 |
| Fees for services: Management | $4,857,248 |
| Fees for services: Legal | $96,296 |
| Fees for services: Accounting | $304,648 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,823 |
| Fees for services: Other | $54,814,357 |
| Advertising and promotion | $518,723 |
| Office expenses | $6,964,737 |
| Information technology | $5,269,616 |
| Royalties | $0 |
| Occupancy | $30,120,514 |
| Travel | $922,317 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,115,707 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,258,741 |
| Insurance | $3,002,498 |
| All other expenses | $1,292,046 |
| Total functional expenses | $524,545,597 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,646,855 |
| Savings and temporary cash investments | $35,902,734 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,529,104 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,092,861 |
| Prepaid expenses and deferred charges | $6,559,143 |
| Net Land, buildings, and equipment | $196,890,735 |
| Investments—publicly traded securities | $89,735,189 |
| Investments—other securities | $0 |
| Investments—program-related | $655,594 |
| Intangible assets | $32,595,076 |
| Other assets | $17,095,768 |
| Total assets | $455,703,059 |
| Accounts payable and accrued expenses | $49,343,018 |
| Grants payable | $0 |
| Deferred revenue | $20,063 |
| Tax-exempt bond liabilities | $148,724,247 |
| 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 | $31,567,424 |
| Other liabilities | $81,590,230 |
| Total liabilities | $311,244,982 |
| Unrestricted restricted net Assets | $131,598,948 |
| Temporarily restricted net Assets | $9,723,572 |
| Permanently restricted net Assets or current funds | $3,135,557 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $144,458,077 |
Grants Awarded
Over the last fiscal year, Akron General Medical Center has awarded $336,407 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Akron, OH PURPOSE: TO HELP PURCHASE NEEDED EQUIPMENT. | $214,487 |
AMERICAN RED CROSS PURPOSE: PROVIDE SUPPORT FOR NATIONAL DISASTERS AND MILITARY FAMILIES, LARGEST SUPPLIER OF BLOOD IN THE UNITED STATES AND PROVIDES HEALTH & SAFETY COURSES. | $30,000 |
Independence, OH PURPOSE: VELOSANO SPOKE SPONSORSHIP. | $25,000 |
Dallas, TX PURPOSE: PROVIDE SUPPORT FOR HEART DISEASE RESEARCH AND EDUCATION. | $25,000 |
Kennesaw, GA PURPOSE: PROVIDE SUPPORT FOR CANCER RESEARCH. | $8,000 |
Akron, OH PURPOSE: SEEKS TO IMPROVE ECONOMIC, CULTURAL, SOCIAL, EDUCATIONAL AND RECREATIONAL CONDITIONS AFFECTING ALL CITIZENS OF SUMMIT COUNTY. | $7,700 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Akron General Medical Center has recieved totaling $37,612.
| Awarding Organization | Amount |
|---|---|
Racers Charities Norton, OH PURPOSE: GENERAL USE | $23,255 |
Wm B Haynes 05 6842019600 Chicago, IL PURPOSE: GENERAL | $14,357 |
Endowment Analysis
| Beg. Balance | $12,915,470 |
| Earnings | $156,795 |
| Net Contributions | $998,421 |
| Other Expense | $1,211,557 |
| Ending Balance | $12,859,129 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Delta Dental Plan Of Michigan Okemos, MI | $855,270,608 | $992,190,042 |
Baptist Health Medical Group Inc Louisville, KY | $171,626,728 | $559,689,949 |
Community Medical Associates Inc Louisville, KY | $72,616,390 | $515,224,331 |
Akron General Medical Center Independence, OH | $455,703,059 | $599,002,653 |
Promedica Central Physicians Llc Toledo, OH | $488,163,951 | $342,138,335 |
Alliance Physicians Inc Miamisburg, OH | $63,242,890 | $270,830,084 |
Iha Health Services Corporation Ann Arbor, MI | $279,537,655 | $382,891,181 |
Pinnacle Health Medical Services Harrisburg, PA | $62,082,359 | $358,432,911 |
Main Line Healthcare Newtown Square, PA | $118,136,702 | $349,358,338 |
University Of Louisville Physicians Inc Louisville, KY | $142,554,326 | $292,132,120 |
Indiana University Health North Hospital Inc Indianapolis, IN | $524,444,485 | $369,136,756 |
Clinical Care Associates Of The University Of Pennsylvania Health Bala Cynwyd, PA | $70,443,492 | $209,271,901 |