Hopedale Medical Foundation
- Assets
- $56.3m
- Revenue
- $35.8m
- Investments
- $0.0
- Employees
- 432
- Location
- Hopedale, IL
- Founding
- 01/1964
- Data as of
- 06/2021
- EIN
- 37-0808925
Organization Overview
Hopedale Medical Foundation, operating under the name Hopedale Medical Complex, is located in Hopedale, IL. The organization was established in 1964. 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 06/2021, Hopedale Medical Complex employed 432 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hopedale Medical Complex 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 06/2021, Hopedale Medical Complex generated $35.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $30.2m during the year ending 06/2021. While expenses have increased by 5.2% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE OUTSTANDING PHYSICIAN-DIRECTED HEALTH, WELLNESS, AND RESIDENTIAL SERVICES IN A PERSONAL, PRIVATE, FAMILY ATMOSPHERE.
Describe the Organization's Program Activity:
THE HOPEDALE MEDICAL COMPLEX IS OWNED AND OPERATED BY THE NOT-FOR-PROFIT CHARITABLE CORPORATION KNOWN AS THE HOPEDALE MEDICAL FOUNDATION. THE HOPEDALE MEDICAL COMPLEX STARTED AS A 20-BED HOSPITAL IN 1955 IN HOPEDALE, ILLINOIS AND HAS EXPANDED OVER THE YEARS TO OFFER CONTINUUM OF CARE SERVICES, INCLUDING A 25-BED ACUTE CARE HOSPITAL, NURSING HOME, INDEPENDENT AND ASSISTED LIVING FACILITY AS WELL AS A WELLNESS CENTER.THE HOPEDALE HOSPITAL IS A CRITICAL ACCESS HOSPITAL AND OFFERS VIRTUALLY THE SAME SERVICES AS A LARGER, URBAN HOSPITAL, INCLUDING 24 HOUR EMERGENCY ROOM, ICU, GENERAL AND ADVANCED VASCULAR SURGERY, ORTHOPEDIC SURGERY, PLASTIC/RECONSTRUCTIVE SURGERY, OPEN MRI AND CT SCANNER. THE HOPEDALE MEDICAL COMPLEX ALSO OFFERS PHYSICIAN SERVICES THROUGH FIVE SATELLITE OFFICES IN ATLANTA, MANITO, MACKINAW, DELAVAN, AND TREMONT.HOPEDALE WELLNESS CENTER HAS AN INDOOR GYM, WALKING TRACK, THREE THERAPY POOLS, DAY CARE, PHYSICAL THERAPY DEPARTMENT AND ALL PURPOSE ROOM FOR THEIR MEMBERS TO USE. THE WELLNESS CENTER ALSO OFFERS CLUB MEMBERSHIPS TO THE RESIDENTS OF HOPEDALE AND SURROUNDING AREAS. PRESENTLY, THE WELLNESS CENTER HAS APPROXIMATELY 1,500 MEMBERS WHO ENROLLED IN VARIOUS PROGRAMS AND ACTIVITIES. A SPORTS MEDICINE PROGRAM HAS ALSO BEEN DEVELOPED FOR LOCAL SCHOOL DISTRICTS AND SPORTS TEAMS THAT THE COMPLEX SERVES TO IMPROVE CONDITIONING OF ATHLETES AND TO REDUCE SPORTS INJURIES. THE COST TO OPERATE THE WELLNESS CENTER IS MORE THAN THE REVENUE THAT IS DERIVED FROM THE HEALTH MEMBERSHIPS WITH THE DIFFERENCE REPRESENTING A BENEFIT TO THE RESIDENTS AND THE COMMUNITY.SERVICE AREATHE HOPEDALE MEDICAL COMPLEX SERVES THE MEDICAL NEEDS OF THE LOCAL CITIZENS WITHIN A 50 MILE RADIUS OF HOPEDALE, ILLINOIS. THE HOPEDALE MEDICAL COMPLEX OPERATES FIVE SATELLITE PHYSICIAN OFFICES IN ADDITION TO A PHYSICIAN'S OFFICE LOCATED ON THE MAIN CAMPUS FOR THE CONVENIENCE OF OUR PATIENTS WITHIN OUR SERVICES AREA.HOSPITAL STAFFTHE HOPEDALE MEDICAL COMPLEX HAS A DEDICATED STAFF OF TRAINED HEALTH PROFESSIONALS THAT HAVE JOINED TOGETHER AS A TEAM TO PROVIDE THE BEST POSSIBLE HEALTH CARE FOR THE PATIENTS AND RESIDENTS OF OUR COMMUNITY.FINANCIAL ASSISTANCE PROGRAMSTHE HOPEDALE MEDICAL COMPLEX HAS POLICIES IN PLACE TO ENSURE THAT NECESSARY HEALTH SERVICES ARE NOT DENIED BASED ON ABILITY TO PAY AND THAT ALL PATIENTS ARE TREATED FAIRLY AND EQUITABLY, AND WITH RESPECT AND COMPASSION. HOPEDALE MEDICAL COMPLEX ASSISTS PERSONS WITHOUT INSURANCE COVERAGE BY WAIVING ALL OR PART OF THE CHARGES FOR SERVICES IT PROVIDES. SIGNS ARE POSTED IN THE ADMITTING AREAS SO THAT HOSPITAL POLICIES ARE CLEARLY COMMUNICATED TO PATIENTS AND PROSPECTIVE PATIENTS.EMERGENCY SERVICESTHE HOPEDALE MEDICAL COMPLEX OPERATES AN EMERGENCY ROOM THAT IS OPEN 24 HOURS A DAY, 365 DAYS A YEAR. THE EMERGENCY ROOM PROVIDES SERVICE TO ALL INDIVIDUALS, REGARDLESS OF THEIR ABILITY TO PAY AND DENIES SERVICE TO NO ONE.COMMUNITY LEADERSHOPEDALE MEDICAL FOUNDATION'S BOARD OF DIRECTORS IS COMPOSED OF VARIOUS LEADERS FROM THE COMMUNITY. THE DIRECTOR'S REPRESENT DIVERSE BACKGROUNDS AND INDUSTRIES WITHIN THE COMMUNITY.MEDICAL STAFFTHE MEDICAL STAFF AT HOPEDALE MEDICAL CENTER IS OPEN AND OFFERS PRIVILEGES TO ALL QUALIFIED PHYSICIANS IN THE AREA.UNCOMPENSATED CARETHE HOPEDALE MEDICAL COMPLEX PARTICIPATES IN MEDICARE, MEDICAID, CHAMPUS, TRICARE AND OTHER GOVERNMENT SPONSORED HEALTH CARE PROGRAMS. THE CONTRACTED AMOUNT FOR THE ABOVE SERVICES EXCEPT MEDICARE IS OFTEN LESS THAN THE ACTUAL COST OF THE SERVICES, WITH THE DIFFERENCE REPRESENTING A BENEFIT TO THE PATIENT AND THE COMMUNITY.
HOPEDALE NURSING HOME IS A 59-BED LICENSED FACILITY OFFERING 24-HOUR NURSING CARE. IT IS PHYSICALLY LOCATED ON CAMPUS AND CONNECTED TO THE HOSPITAL FOR THE CONVENIENCE OF OUR RESIDENTS AND THEIR FAMILIES.
HOPEDALE COMMONS IS A 67-BED INDEPENDENT AND ASSISTED LIVING FACILITY. IT IS ALSO LOCATED ON CAMPUS AND IS LOCATED NEAR THE HOSPITAL FOR THE CONVENIENCE OF OUR RESIDENTS AND THEIR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence J Rossi Jr MD Physician | 40 | $484,681 | |
Robert Seidl MD Physician | 29 | $326,537 | |
Gina Nord MD Physician | 40 | $266,692 | |
Michael Keedy Certified Registered Nurse Anesthetist | 40 | $255,941 | |
Emily Whitson Chief Operating Officer | Officer | 40 | $227,952 |
Nicholas B Rossi MD Director | Trustee | 12 | $201,253 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Central Illinois Imaging Llc Radiology Services | 6/29/21 | $166,320 |
Emergency Physician Staffing Solutions Staffing Agency | 6/29/21 | $1,585,448 |
Reditus Laboratories Llc Radiology Services | 6/29/21 | $159,715 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,404,839 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,997 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,487,836 |
| Total Program Service Revenue | $30,445,512 |
| Investment income | $59,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $250,091 |
| 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 | $3,183,406 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,767,367 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,560 |
| Grants and other assistance to domestic individuals. | $27,360 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $629,707 |
| Compensation of current officers, directors, key employees. | $401,770 |
| Compensation to disqualified persons | $449,734 |
| Other salaries and wages | $13,802,440 |
| Pension plan accruals and contributions | $217,543 |
| Other employee benefits | $2,179,971 |
| Payroll taxes | $904,058 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,522 |
| Fees for services: Accounting | $120,000 |
| Fees for services: Lobbying | $8,337 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $393,690 |
| Advertising and promotion | $128,681 |
| Office expenses | $3,510,211 |
| Information technology | $57,952 |
| Royalties | $0 |
| Occupancy | $994,746 |
| Travel | $53,595 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $512,018 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,557,887 |
| Insurance | $271,226 |
| All other expenses | $66,801 |
| Total functional expenses | $30,237,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,720,708 |
| Savings and temporary cash investments | $478,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,191,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $992,430 |
| Prepaid expenses and deferred charges | $396,987 |
| Net Land, buildings, and equipment | $25,506,107 |
| Investments—publicly traded securities | $10,342,660 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,677,695 |
| Total assets | $56,306,328 |
| Accounts payable and accrued expenses | $2,781,919 |
| Grants payable | $0 |
| Deferred revenue | $449,387 |
| Tax-exempt bond liabilities | $14,484,440 |
| 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 | $3,729,667 |
| Total liabilities | $21,445,413 |
| Net assets without donor restrictions | $34,417,501 |
| Net assets with donor restrictions | $443,414 |
| 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 | $56,306,328 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hopedale Medical Foundation has recieved totaling $262,978.
| Awarding Organization | Amount |
|---|---|
Illinois Critical Access Hospital Network Princeton, IL PURPOSE: FLEX OPERATIONAL IMPROVEMENT AND ARP SHIP COVID | $262,978 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Marys Hospital Ozaukee Inc St Louis, MO | $0 | $119,639,290 |
Norton - Kings Daughters Health Inc Madison, IN | $327,672,291 | $141,257,726 |
Fort Madison Community Hospital West Burlington, IA | $0 | $63,917,889 |
Margaret Mary Community Hospital Inc Batesville, IN | $200,618,179 | $130,077,852 |
Gibson Area Hospital Gibson City, IL | $63,536,615 | $119,801,214 |
Jane Phillips Memorial Medical Center Inc St Louis, MO | $87,499,100 | $121,263,469 |
St Nicholas Hospital Of The Hospita Sisters Of The Third Order Of St F Sheboygan, WI | $160,864,409 | $138,043,178 |
Holy Cross Hospital Chicago, IL | $142,348,563 | $113,770,792 |
Beaver Dam Community Hospitals Inc Beaver Dam, WI | $193,989,750 | $109,285,462 |
Jennie Edmundson Memorial Hospital Council Bluffs, IA | $159,830,825 | $120,935,401 |
Ottawa Regional Hospital & Healthcare Center Peoria, IL | $91,725,518 | $145,777,119 |
St Bernard Hospital Chicago, IL | $104,253,183 | $104,812,040 |