Promedica Health System Inc
- Assets
- $2.9b
- Revenue
- $274.5m
- Investments
- $89.2m
- Employees
- 1,952
- Location
- Toledo, OH
- Founding
- 02/1987
- Data as of
- 12/2020
- EIN
- 34-1517671
Organization Overview
Promedica Health System Inc is located in Toledo, OH. The organization was established in 1987. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2021, Promedica Health System Inc employed 1,952 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promedica Health System 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 12/2020, Promedica Health System Inc generated $274.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $389.4m during the year ending 12/2020. While expenses have increased by 8.5% 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.
Since 2014, Promedica Health System Inc has awarded 485 individual grants totaling $168,244,501. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROMEDICA HEALTH SYSTEM, INC. IS A NOT-FOR-PROFIT, INTEGRATED HEALTHCARE DELIVERY NETWORK WHOSE MISSION IS TO IMPROVE THE HEALTH AND WELL-BEING OF OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMEDICA HEALTH SYSTEM, INC. (PHS) IS AN OHIO NOT-FOR-PROFIT CORPORATION WHICH SERVES AS A HOLDING COMPANY FOR SEVERAL CORPORATIONS IN A SYSTEM THAT PROVIDES VARIOUS TYPES OF HEALTHCARE SERVICES. PHS PROVIDES MANAGEMENT SERVICES AND SUPPORT TO ALL ENTITIES WITHIN PROMEDICA HEALTH SYSTEM, INC. - SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Oostra Ex Officio, Phs Pres. & CEO | OfficerTrustee | 39 | $7,155,772 |
Steven M Cavanaugh Treasurer, CFO | Officer | 39 | $3,497,904 |
Karen Strauss Coo, (partial Year) | Officer | 50 | $2,182,936 |
David Parker President Promedica Senior Ca | 49 | $1,921,499 | |
Lori A Johnston Pres, Promedica Insurance Cor | Officer | 48 | $1,347,678 |
Jeffrey C Kuhn Secretary, Chief Legal Officer | Officer | 39 | $1,347,615 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Engie Insight Services Inc Bill Payer Services | 12/30/21 | $76,858,406 |
Sodexo Inc And Affiliates Food Services | 12/30/21 | $59,149,595 |
Leaderstat Purchased Services, Medical Staff | 12/30/21 | $39,364,506 |
Amn Healthcare Inc Purchased Services, Medical Staff | 12/30/21 | $32,122,190 |
Hospicelink Purchased Services, Medical Staff | 12/30/21 | $29,697,818 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,573,336 |
| Investment income | $709,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$430,674 |
| Net Gain/Loss on Asset Sales | $29,371 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,534,140 |
| Statement of Expenses | |
|---|---|
| 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. | $13,703,243 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,106,630 |
| Pension plan accruals and contributions | $8,027,653 |
| Other employee benefits | $15,318,977 |
| Payroll taxes | $10,497,069 |
| Fees for services: Management | $2,894 |
| Fees for services: Legal | $5,705,809 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $125,420 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,687 |
| Fees for services: Other | $14,861,590 |
| Advertising and promotion | $8,024,309 |
| Office expenses | $7,066,642 |
| Information technology | $48,703,155 |
| Royalties | $0 |
| Occupancy | $7,302,230 |
| Travel | $914,474 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,125,728 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,339,378 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $389,352,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $861,089 |
| Savings and temporary cash investments | $229,597,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,574,646 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,551,697 |
| Inventories for sale or use | $49,306 |
| Prepaid expenses and deferred charges | $46,546,061 |
| Investments—publicly traded securities | $2,590,375 |
| Investments—other securities | $89,154,624 |
| Investments—program-related | $0 |
| Intangible assets | $710,024 |
| Other assets | $2,288,317,674 |
| Total assets | $2,870,044,058 |
| Accounts payable and accrued expenses | $122,098,734 |
| Grants payable | $0 |
| Deferred revenue | $2,000,000 |
| 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 | $3,611,840 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $193,078,452 |
| Total liabilities | $320,789,026 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,549,255,032 |
Grants Awarded
Over the last fiscal year, Promedica Health System Inc has awarded $5,143,354 in support to 49 organizations.
| Grant Recipient | Amount |
|---|---|
Toledo, OH PURPOSE: CHARITABLE DONATION | $1,155,000 |
Toledo, OH PURPOSE: CHARITABLE DONATION | $676,800 |
Toledo, OH PURPOSE: CHARITABLE DONATION | $527,500 |
Cleveland, OH PURPOSE: CHARITABLE DONATION | $350,000 |
Adrian, MI PURPOSE: CHARITABLE DONATION | $250,000 |
Toledo, OH PURPOSE: CHARITABLE DONATION | $228,550 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Promedica Health System Inc has recieved totaling $2,620,296.
| Awarding Organization | Amount |
|---|---|
Promedica Foundation Toledo, OH PURPOSE: OPERATING GRANT | $2,189,370 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $351,000 |
Hospital Council Of Northwest Ohio Toledo, OH PURPOSE: SUPPORT | $52,575 |
Health Research And Educational Trust Chicago, IL PURPOSE: SUPPORT PAYMENT | $10,995 |
American Cancer Society Inc Kennesaw, GA PURPOSE: Patient Support | $10,000 |
United Way Of Greater Toledo Toledo, OH PURPOSE: SIEMER/TANF | $6,356 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Parkview Health System Inc Fort Wayne, IN | $2,712,217,032 | $933,221,094 |
Bhsh System Grand Rapids, MI | $2,915,356,282 | $1,050,315,288 |
University Hospitals Health System Inc Shaker Heights, OH | $6,082,138,000 | $960,105,000 |
Aultman Health Foundation Group Return Canton, OH | $450,362,832 | $880,954,681 |
Mercy Health Partners Muskegon, MI | $816,487,004 | $692,908,897 |
Geisinger System Services Danville, PA | $1,398,222,343 | $715,016,181 |
Appalachian Regional Healthcare Inc Lexington, KY | $1,267,201,787 | $817,287,479 |
Highmark Health Pittsburgh, PA | $708,603,703 | $583,319,053 |
West Virginia University Medical Corporation Morgantown, WV | $212,648,584 | $571,153,959 |
Owensboro Health Regional Hospital Owensboro, KY | $1,685,340,581 | $709,904,993 |
Adena Health System Chillicothe, OH | $876,980,484 | $590,625,475 |
Indiana University Health Arnett Inc Indianapolis, IN | $319,820,511 | $504,048,288 |