Henry County Memorial Hospital Foundation Inc
- Assets
- $69.6m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 4
- Location
- New Castle, IN
- Founding
- 10/1957
- Data as of
- 12/2022
- EIN
- 35-6042246
Organization Overview
Henry County Memorial Hospital Foundation Inc is located in New Castle, IN. The organization was established in 1957. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2022, Henry County Memorial Hospital Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Henry County Memorial Hospital Foundation 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 12/2022, Henry County Memorial Hospital Foundation Inc generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. 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
CORPORATION HAS BEEN ORGANIZED TO AND OPERATES FOR THE USE AND BENEFIT OF THE HENRY COUNTY HOSPITAL, A COUNTY OWNED HOSPITAL IN NEW CASTLE, IN, AND OTHER FACILITIES AND SERVICES OPERATED AS NON-PROFITS THAT SERVE THE HEALTH CARE NEEDS OF THE CITIZENS OF HENRY COUNTY, IN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE LINE PROGRAM THE FOUNDATION RENTS LIFE LINE PERSONAL CALL UNITS TO RESIDENTS OF HENRY COUNTY. THE UNITS ARE LEASED AND THEN RENTED ON A MONTHLY BASIS TO ELDERLY PERSONS FOR USE IN THEIR HOMES SO THAT THEY ARE ABLE TO QUICKLY CALL AND RECEIVE MEDICAL AND OTHER TYPES OF ASSISTANCE. THIS SYSTEM IS DESIGNED TO KEEP PEOPLE IN THEIR HOMES LONGER RATHER THAN INCUR THE ADDITIONAL COSTS ASSOCIATED WITH AN ASSISTED LIVING FACILITY OR NURSING HOME. THE YEAR WAS STARTED WITH 700 SUBSCRIBERS AND ENDED WITH 566.
TO PROMOTE PUBLIC RELATIONS AND TO PROVIDE SERVICE EQUIPMENT TO THE HOSPITAL.
SCHOLARSHIP AWARDS, MEDICAL EDUCATION-GRANT TO IVY TECH NURSING PROGRAM, MEDICATIONS FOR THE NEEDY, HOSPICE, AND OTHER SCHOLARSHIPS WERE AWARDED TO 24 HEALTHCARE PROGRAM UNDERGRADUATE STUDENTS. TO ENCOURAGE AND SUPPORT THE TRAINING OF NURSES WHO WOULD WANT TO PURSUE A CAREER IN THE NEW CASTLE COMMUNITY, THE FOUNDATION COMMITTED ON A LONG TERM BASIS TO SUPPORT THE ESTABLISHMENT OF LOCAL CLASSES. THE TOTAL AMOUNT GIVEN TO IVY TECH COMMUNITY COLLEGE DURING 2021 WAS 80,000 FOR THE SALARY OF AN INSTRUCTOR AND RENT OF OFFICE SPACE FOR THE PROGRAM.
DIRECT SUPPORT FOR HOSPITAL THE FOUNDATION PAYS FOR PHYSICIAN RECRUITMENT EXPENSES AND FOR MARKETING & PUBLIC RELATIONS EXPENSES TO ATTRACT, RECRUIT AND HIRE PHYSICIANS NEEDED TO PROVIDE QUALITY CARE IN THE COMMUNITY AND TO ATTRACT AND ENCOURAGE MEMBERS OF THE COMMUNITY TO USE THE SERVICES PROVIDED BY THE HENRY COUNTY HOSPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Ring President | OfficerTrustee | 7.5 | $31,750 |
Vanessa Tucker Asst Sec/tre | OfficerTrustee | 3.85 | $20,220 |
Darin Brown Treasurer | OfficerTrustee | 3.5 | $20,000 |
Sarah Bowman Trustee | Trustee | 2 | $0 |
Josh Estelle Secretary | OfficerTrustee | 3.5 | $0 |
Erika Gilman Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Duke Energy Utilities | 12/30/22 | $310,278 |
American Structurepoint Inc Building Contra | 12/30/22 | $259,602 |
Boxcrush Marketing | 12/30/22 | $174,517 |
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 | $39,502 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,502 |
| Total Program Service Revenue | $267,676 |
| Investment income | $1,203,004 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,732,041 |
| Net Gain/Loss on Asset Sales | -$1,393,310 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,863,703 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,000 |
| Grants and other assistance to domestic individuals. | $39,931 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,970 |
| Compensation of current officers, directors, key employees. | $71,970 |
| Compensation to disqualified persons | $43,500 |
| Other salaries and wages | $18,497 |
| Pension plan accruals and contributions | $1,376 |
| Other employee benefits | $8,251 |
| Payroll taxes | $10,851 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,483 |
| Fees for services: Accounting | $25,093 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $138,622 |
| Fees for services: Other | $0 |
| Advertising and promotion | $554,246 |
| Office expenses | $0 |
| 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 | $5,904 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,373 |
| All other expenses | $2,688 |
| Total functional expenses | $1,547,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504,514 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,853 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,493 |
| Net Land, buildings, and equipment | $27,354,795 |
| Investments—publicly traded securities | $41,655,057 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,414 |
| Total assets | $69,613,126 |
| Accounts payable and accrued expenses | $577,972 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $805,752 |
| 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 | $4,010,626 |
| Total liabilities | $5,394,350 |
| Net assets without donor restrictions | $62,917,444 |
| Net assets with donor restrictions | $1,301,332 |
| 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 | $69,613,126 |