Grace Hospital
- Assets
- $17.9m
- Revenue
- $9.5m
- Investments
- $11.4m
- Employees
- 148
- Location
- Cleveland, OH
- Founding
- 04/1937
- Data as of
- 06/2022
- EIN
- 34-0714479
Organization Overview
Grace Hospital is located in Cleveland, OH. The organization was established in 1937. 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 06/2022, Grace Hospital employed 148 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Hospital 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 06/2022, Grace Hospital generated $9.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $9.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 7 years. 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 SPECIALIZED HEALTH CARE SERVICES FOR THOSE COPING WITH CATASTROPHIC ILLNESS AND INJURY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRACE HOSPITAL IS A NON-FOR-PROFIT, LONG-TERM ACUTE CARE HOSPITAL LOCATED IN CLEVELAND, OHIO DEDICATED TO PROVIDING PERSONALIZED CARE TO MEET THE NEEDS OF PATIENTS COPING WITH CATASTROPHIC OR CHRONIC INJURY OR ILLNESS REQUIRING EXTENDED HOSPITALIZATION. THE HOSPITAL WAS FOUNDED IN 1910 BY A GROUP OF PHYSICIANS WHO WERE COMMITTED TO MEETING THE HEALTHCARE NEEDS OF THE COMMUNITY. GRACE HOSPITAL HAS CONTINUOUSLY PROVIDED SERVICES FOR ITS PATIENTS. IN 1995, GRACE HOSPITAL EARNED APPROVAL TO BECOME THE FIRST CERTIFIED LONG-TERM ACUTE CARE HOSPITAL IN BOTH THE CITY OF CLEVELAND AND CUYAHOGA COUNTY. THE HOSPITAL PRESENTLY SPONSORS SEVERAL INPATIENT SERVICES INCLUDING COMPLEX MEDICAL, PULMONARY, REHABILITATION, VENTILATOR WEANING, LEFT VENTRICAL ASSIST DEVICE, TRANSPLANT SUPPORT, WOUND CARE, AND NEUROLOGICAL REHABILITATION PROGRAMS. THESE SERVICES ARE PROVIDED AT INPATIENT SATELLITES LOCATED WITHIN SOUTH POINTE AND BEDFORD HOSPITALS. GRACE HOSPITAL IS COMMITTED TO PROVIDING PERSONALIZED HEALTHCARE CHARACTERIZED BY QUALITY, ACCESSIBILITY, EFFICIENCY, AND COST EFFECTIVENESS. THE HOSPITAL IS SENSITIVE TO AGE, CULTURAL, AND ECONOMIC VARIATIONS, AND IS CONTINUOUSLY ASSESSED AND IMPROVED THROUGH A QUALITY MANAGEMENT PROGRAM. GRACE VOLUNTARILY MAINTAINS A CHARITY CARE POLICY THAT PROVIDES CARE TO INDIVIDUALS REGARDLESS OF ABILITY TO PAY. THE HOSPITAL IS ALSO COMMITTED TO EMPLOYING INDIVIDUALS TO MATCH CULTURAL DIVERSITY OF ITS PATIENT POPULATION. SEVERAL JOB POSTINGS IN THE HOSPITAL REQUIRE EMPLOYEES TO BE BILINGUAL IN EITHER SPANISH OR OTHER LANGUAGES. GRACE HOSPITAL IS INVOLVED IN MANY COMMUNITY ACTIVITIES, INCLUDING HEALTH FAIRS, SPECIAL HEALTH-RELATED PRESENTATIONS, AND SPONSORSHIPS IN HEALTHCARE EDUCATION. IN ADDITION, THE HOSPITAL SPONSORS MEETINGS FOR MANY NON-PROFIT COMMUNITY ORGANIZATIONS. THE BOARD OF DIRECTORS, MEDICAL STAFF, AND MANAGEMENT OF GRACE HOSPITAL ARE COMMITTED TO THE PROVISION OF QUALITY SPECIALTY HEALTHCARE SERVICES, AS A LONG-TERM HOSPITAL, AND FULFILLING A LEADERSHIP ROLE IN THE COMMUNITY. DESPITE CHALLENGING ECONOMIC TIMES, GRACE HOSPITAL HAS SUCCESSFULLY CONTINUED ITS ROLE OF COMMUNITY SERVICE AS ORIGINALLY ENVISIONED BY ITS FOUNDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willard E Bartel Chairperson | OfficerTrustee | 1 | $0 |
Robert A Grevey Vice Chairperson | OfficerTrustee | 1 | $0 |
Jeffrey L Close Treasurer | OfficerTrustee | 1 | $0 |
Rev Joseph D Mcnulty Secretary | OfficerTrustee | 1 | $0 |
Gerald L Jeppe Director | Trustee | 1 | $0 |
Nizar Z Nader MD President Of Medical Staff | Trustee | 1 | $13,400 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alliance Healthcare Solutions Llc Staffing Services | 6/29/22 | $190,957 |
Tremont Medical Development Corporation Consulting Services | 6/29/22 | $103,125 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $116,653 |
| All other contributions, gifts, grants, and similar amounts not included above | $593,437 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $710,090 |
| Total Program Service Revenue | $8,622,977 |
| Investment income | $68,142 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,847 |
| 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 | $9,465,748 |
| 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. | $173,686 |
| Compensation of current officers, directors, key employees. | $160,286 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,919,217 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $271,871 |
| Payroll taxes | $242,542 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,837 |
| Fees for services: Accounting | $34,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,955,102 |
| Advertising and promotion | $0 |
| Office expenses | $9,024 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $786,481 |
| Travel | $25,713 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $41,368 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $359,799 |
| Insurance | $182,878 |
| All other expenses | $0 |
| Total functional expenses | $9,414,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $556,795 |
| Savings and temporary cash investments | $1,983,046 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,009,857 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $202,616 |
| Prepaid expenses and deferred charges | $132,436 |
| Net Land, buildings, and equipment | $1,521,035 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,383,837 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,096,506 |
| Total assets | $17,886,128 |
| Accounts payable and accrued expenses | $1,487,011 |
| 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 | $581,827 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,675 |
| Total liabilities | $2,072,513 |
| Net assets without donor restrictions | $4,429,777 |
| Net assets with donor restrictions | $11,383,838 |
| 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 | $17,886,128 |