Health Development Corporation
- Assets
- $1.6m
- Revenue
- $215.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Seymour, IN
- Founding
- 02/1991
- Data as of
- 12/2023
- EIN
- 35-1777462
Organization Overview
Health Development Corporation is located in Seymour, IN. The organization was established in 1991. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health Development Corporation 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 12/2023, Health Development Corporation generated $215.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (27.9%) each year. All expenses for the organization totaled $540.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (20.9%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE FOR THE BENEFIT OF JACKSON COUNTY SCHNECK MEMORIAL HOSPITAL DBA SCHNECK MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECRUITING NEW PHYSICIANS TO THE COMMUNITY AND SURROUNDING AREA SERVICED BY SCHNECK MEDICAL CENTER. ALSO, INCLUDES 2 SCHOLARSHIPS PROVIDED TO MEDICAL SCHOOL STUDENTS.
PROVIDING EDUCATIONAL PROGRAMS TO THE BOARD AND THE MANAGEMENT AND MEDICAL STAFFS OF SCHNECK MEDICAL CENTER.
COORDINATED HEALTHCARE OFFERS SERVICES TO RESIDENTS IN JENNINGS, WASHINGTON AND SCOTT COUNTIES. THE CLINICS WERE ORGANIZED TO PROMOTE AND SUPPORT THE HEALTH OF THE ADJACENT COUNTIES. OPERATIONS TRANSITIONED TO SCHNECK MEDICAL CENTER IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Fish MD President | OfficerTrustee | 5 | $0 |
Terry Gilliland Vice President | OfficerTrustee | 1 | $0 |
Kathy Covert Secretary | OfficerTrustee | 1 | $0 |
Deborah Mann Treasurer | OfficerTrustee | 5 | $0 |
Jack Mccory Chairman | OfficerTrustee | 1 | $0 |
Rick Smith Ex-Officio, Voting | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Family Medical Center Medical Services | 12/30/22 | $101,550 |
Schneck Medical Center Contract Labor | 12/30/22 | $153,370 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $208,432 |
| Investment income | $744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,169 |
| 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 | $215,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,182 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,456 |
| Advertising and promotion | $0 |
| Office expenses | $116 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $72,124 |
| Interest | $31,724 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,254 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $540,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $592,459 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $230,477 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,135 |
| Net Land, buildings, and equipment | $729,215 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,586,286 |
| Accounts payable and accrued expenses | $333,977 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $690,688 |
| Total liabilities | $1,024,665 |
| Net assets without donor restrictions | $561,621 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,586,286 |