Toledo Hospital
- Assets
- $2.7b
- Revenue
- $1.2b
- Investments
- $9.0m
- Employees
- 8,298
- Location
- Toledo, OH
- Founding
- 02/1933
- Data as of
- 12/2020
- EIN
- 34-4428256
Organization Overview
Toledo Hospital, operating under the name Promedica Toledo Hospital, is located in Toledo, OH. The organization was established in 1933. 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 12/2021, Promedica Toledo Hospital employed 8,298 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promedica Toledo 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 12/2020, Promedica Toledo Hospital generated $1.2b in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $1.1b during the year ending 12/2020. While expenses have increased by 5.1% 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 Toledo Hospital has awarded 24 individual grants totaling $439,675,653. 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
THE TOLEDO HOSPITAL IS AN ACUTE CARE FACILITY AND THE ADULT TERTIARY FACILITY OF PROMEDICA HEALTH SYSTEM, INC. PROVIDING INPATIENT AND OUTPATIENT HEALTH SERVICES TO THE GENERAL PUBLIC OF NORTHWEST OHIO AND SOUTHEAST MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOLEDO HOSPITAL IS AN ACUTE CARE FACILITY PROVIDING INPATIENT AND OUTPATIENT HEALTH CARE SERVICES TO THE GENERAL PUBLIC. - SEE SCHEDULE O.
THE TOLEDO HOSPITAL OPERATES A HEALTH CLUB FACILITY. - SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Gates Physician | 16 | $287,047 | |
Qin-Sheng Chen Sr. Medical Physicist | 40 | $286,874 | |
James Burns Sr. Medical Physicist | 40 | $246,244 | |
Joshua Ovens Rn Critical Care Transport | 40 | $238,192 | |
Fedor Lurie Assoc Dir Research Ed Vasc | 40 | $230,625 | |
Dawn M Buskey Pres., Ex Officio | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Metro Aviation Inc Aviation Service | 12/30/20 | $5,568,621 |
Amn Healthcare Inc Staffing Agency | 12/30/20 | $10,775,376 |
Lathrop Company Inc Construction General | 12/30/20 | $4,228,849 |
Mayo Clinic Lab Testing | 12/30/20 | $3,790,484 |
University Of Toledo Education | 12/30/20 | $14,363,605 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,682,314 |
| Investment income | -$32,245,994 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $33,603 |
| Net Gain/Loss on Asset Sales | $13,754,231 |
| Net Income from Fundraising Events | -$13,857 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $328,220 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,152,627,936 |
| 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. | $77,345 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $393,925,032 |
| Pension plan accruals and contributions | $14,186,363 |
| Other employee benefits | $39,614,950 |
| Payroll taxes | $31,346,904 |
| Fees for services: Management | $40,270 |
| Fees for services: Legal | $3,894,345 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $28,603 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,702,269 |
| Fees for services: Other | $160,743,837 |
| Advertising and promotion | $5,184,640 |
| Office expenses | $9,429,982 |
| Information technology | $726,026 |
| Royalties | $0 |
| Occupancy | $21,149,533 |
| Travel | $917,718 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,107,754 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,280,291 |
| Insurance | $5,686,370 |
| All other expenses | $0 |
| Total functional expenses | $1,147,276,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,104,121 |
| Savings and temporary cash investments | $6,422,335 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $159,235,222 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,109,391 |
| Inventories for sale or use | $21,333,257 |
| Prepaid expenses and deferred charges | $4,387,951 |
| Investments—publicly traded securities | $837,644,957 |
| Investments—other securities | $9,007,034 |
| Investments—program-related | $0 |
| Intangible assets | $28,610,457 |
| Other assets | $635,555,924 |
| Total assets | $2,740,360,333 |
| Accounts payable and accrued expenses | $242,296,631 |
| Grants payable | $0 |
| Deferred revenue | $1,000,000 |
| Tax-exempt bond liabilities | $780,439,191 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,513,550,926 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $246,018,547 |
| Total liabilities | $2,783,305,295 |
| 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 | -$42,944,962 |
Grants Awarded
Over the last fiscal year, Toledo Hospital has awarded $774,334 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Toledo, OH PURPOSE: OPERATING GRANT | $761,972 |
Sylvania, OH PURPOSE: DONATION | $12,362 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Toledo Hospital has recieved totaling $835,425.
| Awarding Organization | Amount |
|---|---|
Hospital Council Of Northwest Ohio Toledo, OH PURPOSE: SUPPORT | $326,704 |
Cystic Fibrosis Foundation Bethesda, MD PURPOSE: CF CARE CENTER | $182,895 |
Cystic Fibrosis Foundation Bethesda, MD PURPOSE: CLINICAL RESEARCH CENTER | $116,895 |
Mayo Clinic Rochester, MN PURPOSE: SUPPORT CHARITABLE PROGRAMS | $99,048 |
Hemophilia Foundation Of Michigan Ypsilanti, MI PURPOSE: MEDICAL SERVICES | $39,062 |
Toledo Community Foundation Toledo, OH PURPOSE: ANNUAL DISTRIBUTION: CYSTIC FIBROSIS CENTER OF NORTHWEST OHIO | $21,090 |
Endowment Analysis
| Beg. Balance | $33,317,596 |
| Earnings | $3,131,916 |
| Net Contributions | $2,000 |
| Ending Balance | $36,451,512 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
Deaconess Hospital Inc Evansville, IN | $1,921,220,397 | $1,102,144,618 |
Kettering College Miamisburg, OH | $1,728,903,615 | $1,055,020,178 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Saint Joseph Health System Inc Lexington, KY | $961,743,109 | $864,115,504 |
Covenant Medical Center Inc Saginaw, MI | $1,038,790,282 | $776,913,978 |
Uofl Health-Louisville Inc Louisville, KY | $577,142,236 | $950,019,808 |
Tower Health Reading, PA | $1,567,530,050 | $562,187,138 |
Cabell Huntington Hospital Inc Huntington, WV | $1,087,986,142 | $722,910,695 |
Allegiance Health Jackson, MI | $830,742,312 | $709,583,429 |
Pennsylvania Hospital Of The Univ Of Pennsylvania Health System Philadelphia, PA | $773,767,590 | $678,080,811 |
Indiana University Health Bloomingon Inc Indianapolis, IN | $990,966,337 | $700,343,585 |