Memorial Hospital
- Assets
- $63.6m
- Revenue
- $76.8m
- Investments
- $256.0k
- Employees
- 436
- Location
- Toledo, OH
- Founding
- 09/1937
- Data as of
- 12/2021
- EIN
- 34-4430849
Organization Overview
Memorial Hospital, operating under the name Promedica Memorial Hospital, is located in Toledo, 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 12/2021, Promedica Memorial Hospital employed 436 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promedica Memorial 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 12/2021, Promedica Memorial Hospital generated $76.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $66.9m during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MEMORIAL HOSPITAL PROVIDES NEEDED MEDICAL CARE TO THE COMMUNITY AND SURROUNDING AREAS REGARDLESS OF THE PATIENT'S ABILITY TO PAY. SERVICES INCLUDE INPATIENT ROUTINE, INPATIENT ANCILLARY, AND OUTPATIENT CARE. OUR MISSION IS TO CONTINUALLY IMPROVE THE HEALTH AND QUALITY OF LIFE OF THE INDIVIDUALS AND FAMILIES IN THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMORIAL HOSPITAL IS AN ACUTE CARE FACILITY PROVIDING INPATIENT AND OUTPATIENT HEALTH CARE SERVICES TO THE GENERAL PUBLIC. - SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randal Koch Director Of Pharmacy | 40 | $181,112 | |
Nathan Perkins Avp Operations Radiology | 40 | $157,364 | |
Matthew Barbour 'clinical Pharmacist - Pgy 1 | 17 | $136,713 | |
Matthew Goetz Pharmacist | 40 | $136,327 | |
Patricia Beaschler Paramount | 40 | $134,082 | |
Deana Sievert Pres., Ex Officio | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Hlth Sv Fremont Physician Services | 12/30/20 | $539,096 |
Emergency Physicians Of Northwest Ohio I Physician Services | 12/30/20 | $775,000 |
Toledo Pain Services Physician Services | 12/30/20 | $481,294 |
Spieker Co Construction Contractor | 12/30/20 | $443,250 |
Omni Health Services Ltd Physician Services | 12/30/20 | $437,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $81,910 |
| Government grants | $2,648,680 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,730,590 |
| Total Program Service Revenue | $74,470,636 |
| Investment income | $8,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $34,993 |
| Net Gain/Loss on Asset Sales | -$492,912 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,771,960 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $600 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,367,688 |
| Pension plan accruals and contributions | $583,832 |
| Other employee benefits | $2,932,892 |
| Payroll taxes | $1,563,837 |
| Fees for services: Management | $1,273 |
| Fees for services: Legal | $129,131 |
| Fees for services: Accounting | $29,125 |
| Fees for services: Lobbying | $6,885 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,263,731 |
| Advertising and promotion | $164,717 |
| Office expenses | $649,013 |
| Information technology | $96,186 |
| Royalties | $0 |
| Occupancy | $1,718,095 |
| Travel | $74,434 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,148,168 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,776,999 |
| Insurance | $589,815 |
| All other expenses | $2,764,089 |
| Total functional expenses | $66,925,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,065,020 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,804,494 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,374,170 |
| Prepaid expenses and deferred charges | $215,832 |
| Net Land, buildings, and equipment | $34,993,593 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $256,033 |
| Investments—program-related | $0 |
| Intangible assets | $843,538 |
| Other assets | $9,081,325 |
| Total assets | $63,634,005 |
| Accounts payable and accrued expenses | $10,360,862 |
| 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 | $3,793,804 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $33,182,292 |
| Total liabilities | $47,336,958 |
| Net assets without donor restrictions | $8,213,217 |
| Net assets with donor restrictions | $8,083,830 |
| 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 | $63,634,005 |
Grants Awarded
Over the last fiscal year, Memorial Hospital has awarded $344,025 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Toledo, OH PURPOSE: OPERATING GRANT | $317,429 |
Fremont, OH PURPOSE: CHARITABLE DONATION | $16,596 |
Fremont, OH PURPOSE: CHARITABLE DONATION | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Memorial Hospital has recieved totaling $81,910.
| Awarding Organization | Amount |
|---|---|
Promedica Foundation Toledo, OH PURPOSE: OPERATING GRANT | $81,910 |
Endowment Analysis
| Beg. Balance | $380,200 |
| Ending Balance | $380,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Norton - Kings Daughters Health Inc Madison, IN | $327,672,291 | $141,257,726 |
Lehigh Valley Hospital - Schuykill Allentown, PA | $123,931,422 | $141,448,853 |
Wood County Hospital Assn Bowling Green, OH | $236,887,243 | $125,669,234 |
Margaret Mary Community Hospital Inc Batesville, IN | $200,618,179 | $130,077,852 |
Davis Memorial Hospital Elkins, WV | $99,450,993 | $120,748,268 |
Mymichigan Medical Center Sault Sault Ste Marie, MI | $104,046,577 | $126,853,788 |
St Lukes Quakertown Hospital Allentown, PA | $224,667,230 | $112,978,373 |
Shelby County Memorial Hospital Association Inc Sidney, OH | $171,819,264 | $129,965,258 |
Upmc Pittsburgh, PA | $122,342,039 | $105,892,952 |
Northeastern Pennsylvania Health Corporation Allentown, PA | $304,803,492 | $145,234,138 |
Reynolds Memorial Hospital Inc Glen Dale, WV | $68,940,537 | $122,482,209 |
Emma L Bixby Medical Center Toledo, OH | $214,732,301 | $139,202,852 |