Riverside Medical Center
- Assets
- $761.5m
- Revenue
- $457.5m
- Investments
- $23.3m
- Employees
- 3,086
- Location
- Kankakee, IL
- Founding
- 09/1965
- Data as of
- 12/2023
- EIN
- 36-2414944
Organization Overview
Riverside Medical Center is located in Kankakee, IL. The organization was established in 1965. 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 12/2023, Riverside Medical Center employed 3,086 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside Medical Center 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, Riverside Medical Center generated $457.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $425.4m during the year ending 12/2023. While expenses have increased by 5.3% per year over the past 8 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 2015, Riverside Medical Center has awarded 31 individual grants totaling $469,448. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MEET THE HEALTH CARE NEEDS OF OUR COMMUNITY, BY PROVIDING A COMPREHENSIVE ARRAY OF HIGH VALUE & QUALITY SERVICES IN A CARING & EFFECTIVE MANNER.
Describe the Organization's Program Activity:
RIVERSIDE MEDICAL CENTER OFFERS VARIOUS INPATIENT AND OUTPATIENT SERVICES THAT INCLUDE, BUT ARE NOT LIMITED TO, EMERGENCY CARE, AMBULANCE SERVICES, BEHAVIORAL HEALTH SERVICES, PHYSICAL REHABILITATION THERAPY, HOME HEALTH CARE, PERI-OPERATIVE SERVICES, PHARMACY, RADIOLOGY, RESPIRATORY THERAPY, NURSERY, AND OBSTETRICS. RIVERSIDE MEDICAL CENTER ALSO OPERATES MULTIPLE COMMUNITY PRIMARY AND SPECIALTY HEALTH CENTERS LOCATED IN KANKAKEE, WILL, IROQUOIS, AND GRUNDY COUNTIES IN THE STATE OF ILLINOIS.
NEUROSCIENCES - THE NEUROSCIENCES SERVICES AT RIVERSIDE HAVE RECEIVED NATIONAL AWARDS FOR THE CLINICAL OUTCOMES ACHIEVED. RIVERSIDE'S TEAM OF NEUROLOGY EXPERTS ARE DEDICATED TO THE DIAGNOSIS, EVALUATION AND TREATMENT OF DISORDERS OF THE BRAIN, SPINE AND NERVES. USING THE LATEST MEDICAL ADVANCES AND TECHNOLOGY, HIGHLY SPECIALIZED SURGEONS DEVELOP PERSONALIZED TREATMENT PLANS FOR EACH PATIENT, RANGING FROM CONSERVATIVE CARE TO HIGHLY COMPLEX NONINVASIVE SURGICAL TECHNIQUES.
CARDIOLOGY - THE RIVERSIDE HEART CENTER IS RECOGNIZED AS THE MOST ADVANCED CARDIAC CENTER IN THE REGION. PATIENTS ARE TRANSFERRED IN FROM SURROUNDING COUNTIES AND HOSPITALS FOR THE CARE PROVIDED BY THE NATIONALLY RANKED CARDIAC TEAMS AT RIVERSIDE. THE SOCIETY OF CHEST PAIN CENTERS HAS AWARDED ACCREDITATION TO RIVERSIDE AS AN ADVANCED CHEST PAIN CENTER FOR ITS ABILITY TO MEET THE HIGHEST STANDARDS FOR THE CARE OF INDIVIDUALS EXPERIENCING A HEART ATTACK AND RAPID INTERVENTION TO STOP THE HEART ATTACK. SERVICES INCLUDE COMPREHENSIVE CARDIAC SERVICES SUCH AS: OPEN HEART SURGERY, HEART VALVE REPAIR AND VENTRICULAR REMODELING, MITRAL VALVE SURGERY, ATRIAL FIBRILLATION MANAGEMENT, HEART RHYTHM DISORDER DIAGNOSTICS AND MANAGEMENT, THREE ADVANCED CARDIAC CATHETERIZATION LABS, A FULL ARRAY OF CARDIAC DIAGNOSTICS AND CARDIAC REHAB, WOMEN'S HEART AWARENESS AND EDUCATION PROGRAM, AND HEART SCAN TO IDENTIFY RISK FOR HEART ATTACK. IN 2022, THERE WERE 84 CARDIAC SURGERIES PERFORMED. ALSO, THERE WERE 1,641 CARDIAC CATHETERIZATION PROCEDURES PERFORMED.
ONCOLOGY - THE RIVERSIDE CANCER INSTITUTE PROVIDES CARE TO PATIENTS ORIGINATING FROM THE 5 SURROUNDING COUNTIES. CANCER TREATMENTS BASED ON THE LATEST FINDINGS IN CANCER RESEARCH ARE PROVIDED BY BOARD CERTIFIED MEDICAL AND RADIATION ONCOLOGISTS AND NATIONALLY CERTIFIED ONCOLOGY NURSES. SERVICES INCLUDE HIGHLY INDIVIDUALIZED TREATMENT PLANS FOR SURGERY, MINIMALLY INVASIVE SURGERY, ROBOTIC SURGERY, CHEMOTHERAPY, MONOCLONAL ANTIBODY THERAPY, IMMUNOTHERAPY, HIGHPRECISION RADIATION THERAPY, BLOOD TRANSFUSIONS, AND PAIN MANAGEMENT. TEAMS OF ONCOLOGY PHYSICIANS AND STAFF MEET TO SPECIFICALLY TAILOR PLANS TO THE INDIVIDUALS AND PROVIDE EXTENSIVE EDUCATION AND SUPPORT. THERE WERE OVER 8,386 SURGICAL, CHEMOTHERAPY AND RADIATION PROCEDURES PERFORMED IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chariman | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed President/ceo | OfficerTrustee | 40 | $1,111,991 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Bank Corporate Trust Agency Services | 12/30/23 | $9,107,325 |
Novus Illinois Service Corporation Medical Services | 12/30/23 | $6,298,505 |
Cardiothoracic & Vascular Surgical Association Physician Services | 12/30/23 | $2,200,000 |
Piggush Simoneau Inc Construction Services | 12/30/23 | $2,680,937 |
Morrison Healthcare Dietary Services | 12/30/23 | $2,067,451 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $635,039 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,665 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $648,704 |
| Total Program Service Revenue | $434,447,402 |
| Investment income | $13,676,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $433,930 |
| Net Gain/Loss on Asset Sales | $1,151,022 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $457,510,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,847 |
| Grants and other assistance to domestic individuals. | $30,450 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,366,268 |
| Compensation of current officers, directors, key employees. | $6,366,268 |
| Compensation to disqualified persons | $195,510 |
| Other salaries and wages | $174,887,621 |
| Pension plan accruals and contributions | $5,992,902 |
| Other employee benefits | $16,065,562 |
| Payroll taxes | $11,719,439 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $525,002 |
| Fees for services: Accounting | $275,030 |
| Fees for services: Lobbying | $53,787 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,160,851 |
| Fees for services: Other | $42,391,170 |
| Advertising and promotion | $1,457,667 |
| Office expenses | $2,380,137 |
| Information technology | $9,667,611 |
| Royalties | $0 |
| Occupancy | $4,753,344 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,524,178 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,743,959 |
| Insurance | $9,754,879 |
| All other expenses | $309,110 |
| Total functional expenses | $425,410,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,622,683 |
| Savings and temporary cash investments | $50,902,690 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $60,951,502 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $302,631 |
| Inventories for sale or use | $9,137,160 |
| Prepaid expenses and deferred charges | $12,308,053 |
| Net Land, buildings, and equipment | $254,359,387 |
| Investments—publicly traded securities | $310,428,897 |
| Investments—other securities | $23,302,286 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,226,164 |
| Total assets | $761,541,453 |
| Accounts payable and accrued expenses | $84,416,876 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $119,091,007 |
| 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 | $4,865,577 |
| Other liabilities | $6,901,748 |
| Total liabilities | $215,275,208 |
| Net assets without donor restrictions | $542,947,672 |
| Net assets with donor restrictions | $3,318,573 |
| 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 | $761,541,453 |
Grants Awarded
Over the last fiscal year, Riverside Medical Center has awarded $134,188 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
OLIVET NAZARENE UNIVERSITY PURPOSE: Sponsorship | $57,000 |
BISHOP MCNAMARA HIGH SCHOOL PURPOSE: Sponsorship | $30,000 |
KANKAKEE RIVERFRONT SOCIETY PURPOSE: SPONSORSHIP | $25,000 |
KANKAKEE CITY CHAMBER OF COMMERCE PURPOSE: SPONSORSHIP | $6,188 |
AMERICAN CANCER SOCIETY PURPOSE: SPONSORSHIP | $10,000 |
KANKAKEE EVENTS PARTNERSHIP PURPOSE: SPONSORSHIP | $6,000 |