Thorek Memorial Hospital
- Assets
- $462.6m
- Revenue
- $124.8m
- Investments
- $10.5m
- Employees
- 665
- Location
- Chicago, IL
- Founding
- 12/1939
- Data as of
- 06/2022
- EIN
- 36-6000085
Organization Overview
Thorek Memorial Hospital is located in Chicago, IL. The organization was established in 1939. 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 06/2023, Thorek Memorial Hospital employed 665 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thorek 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 06/2022, Thorek Memorial Hospital generated $124.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $96.5m during the year ending 06/2022. While expenses have increased by 6.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING QUALITY PATIENT CARE, PROMOTING WELLNESS, AND SUPPORTING EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THOREK MEMORIAL HOSPITAL PROVIDES QUALITY MEDICAL HEALTHCARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE, OR ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICE RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF THOREK MEMORIAL HOSPITAL, WE RECOGNIZE THAT IT IS THE HOSPITAL'S MISSION TO SERVE THE COMMUNITY BY PROVIDING HEALTHCARE SERVICES AND HEALTHCARE EDUCATION AND THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PAY FOR ESSENTIAL MEDICAL SERVICES. THEREFORE, IN KEEPING WITH THE HOSPITAL'S COMMITMENT TO SERVE ALL MEMBERS OF OUR COMMUNITY, WE PROVIDE FREE CARE AND OR SUBSIDIZED CARE TO INDIVIDUALS WHO ARE UNABLE TO PAY FOR ESSENTIAL SERVICES, AND PROVIDE HEALTH ACTIVITIES AND PROGRAMS TO SUPPORT OUR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Kamberos COO & Corp Svcs. | OfficerTrustee | 40 | $556,353 |
Jagan Mohan MD Secretary | OfficerTrustee | 6 | $30,000 |
Edwin C Lennox Treasurer - Part Year | OfficerTrustee | 6 | $30,000 |
Robert Baudino Trustee | Trustee | 6 | $30,000 |
Bonnie Phipps Trustee | Trustee | 6 | $30,000 |
Philip Gorelick MD Trustee & Chief Medical Officer - Part Year | Trustee | 40 | $77,913 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chicago Central Emergency Physician Er Services | 6/29/23 | $1,136,335 |
On-line Radiology Medical Group Llc Radiology Physician Services | 6/29/23 | $871,279 |
Catalyst Anesthesia Group Llc Anesthesia Services | 6/29/23 | $865,500 |
United Maintenance Company Inc Housekeeping & Facility Services | 6/29/23 | $796,074 |
Chicago Institute Of Advanced Surgery Physician Services | 6/29/23 | $536,977 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,206,055 |
| 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 | $4,206,055 |
| Total Program Service Revenue | $104,580,742 |
| Investment income | $10,209,057 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $414,683 |
| Net Gain/Loss on Asset Sales | $3,169,910 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,803,046 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,500 |
| 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. | $2,429,437 |
| Compensation of current officers, directors, key employees. | $2,429,437 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,409,186 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,086,348 |
| Payroll taxes | $2,489,460 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $152,667 |
| Fees for services: Accounting | $146,920 |
| Fees for services: Lobbying | $135,044 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $953,373 |
| Fees for services: Other | $7,463,180 |
| Advertising and promotion | $31,047 |
| Office expenses | $2,333,915 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,444,660 |
| Travel | $7,585 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,965 |
| Interest | $50,260 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,726,209 |
| Insurance | $3,458,792 |
| All other expenses | $1,370,494 |
| Total functional expenses | $96,467,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,035,630 |
| Savings and temporary cash investments | $379,564 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,555,691 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,042,825 |
| Prepaid expenses and deferred charges | $659,981 |
| Net Land, buildings, and equipment | $69,521,911 |
| Investments—publicly traded securities | $347,184,526 |
| Investments—other securities | $10,544,278 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,648,016 |
| Total assets | $462,572,422 |
| Accounts payable and accrued expenses | $9,183,858 |
| Grants payable | $0 |
| Deferred revenue | $4,320,558 |
| 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 | $10,130,244 |
| Total liabilities | $23,634,660 |
| Net assets without donor restrictions | $438,937,762 |
| 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 | $462,572,422 |
Grants Awarded
Over the last fiscal year, Thorek Memorial Hospital has awarded $26,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BUENA PARK NEIGHBORS PURPOSE: GENERAL OPERATING SUPPORT | $8,000 |
EDGEWATER CHAMBER OF COMMERCE PURPOSE: GENERAL OPERATING SUPPORT | $8,500 |
NAMI CHICAGO PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
HOWARD BROWN HEALTH PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |