Eaton Rapids Medical Center
- Assets
- $43.6m
- Revenue
- $40.1m
- Investments
- $1.7m
- Employees
- 351
- Location
- Eaton Rapids, MI
- Founding
- 03/1955
- Data as of
- 06/2022
- EIN
- 38-1559180
Organization Overview
Eaton Rapids Medical Center is located in Eaton Rapids, MI. The organization was established in 1955. 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 06/2022, Eaton Rapids Medical Center employed 351 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eaton Rapids 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 06/2022, Eaton Rapids Medical Center generated $40.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $37.0m during the year ending 06/2022. While expenses have increased by 5.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CARE. SERVE. INSPIRE. BY PROVIDING HEALTHCARE SERVICES IN EATON RAPIDS, MI
Describe the Organization's Program Activity:
EATON RAPIDS MEDICAL CENTER OPERATES A SHORT-TERM, ACUTE CARE HOSPITAL SERVING THE EATON RAPIDS, MICHIGAN COMMUNITY. THE HOSPITALS VISION IS TO BE THE HOSPITAL PATIENTS TRUST, PHYSICIANS PREFER, AND STAFF MEMBERS LOVE.EATON RAPIDS MEDICAL CENTER PROVIDES TOOLS AND EDUCATION TO HELP PATIENTS AND THE COMMUNITY LEAD HEALTHY LIFESTYLES THROUGH PROGRAMS SUCH AS: A HEALTHWORKS PROGRAM, AND HEALTH FAIRS. SUPPORT GROUPS AND SEMINARS ARE OFFERED ON CHRONIC DISEASES INCLUDING: A DIABETES SUPPORT GROUP, ARTHRITIS CLASSES, AND LUNCH WITH A MEDICAL PROFESSIONAL. PATIENTS ARE ALSO PROVIDED ASSISTANCE TO NAVIGATE THE HEALTH INSURANCE EXCHANGES AND ARE ASSISTED WITH THE ENROLLMENT PROCESS. IN 2022 EATON RAPIDS MEDICAL CENTER SAW THE FOLLOWING VOLUME OF PATIENTS: - INPATIENT ADMISSIONS = 288, INPATIENT DAYS = 1,142, AND EMERGENCY ROOM VISITS = 9,348. - OUTPATIENT VISITS TOTALED: LABORATORY = 15,591, RADIOLOGY =5,904, RESPIRATORY = 164, CARDIOLOGY =1,208, REHAB = 8,389 AND CLINICS = 5,794.EATON RAPIDS MEDICAL CENTER ACCEPTS PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. THE HOSPITAL PROVIDED $48,544 OF CHARITY CARE DURING 2022 AND RECORDED $1,546,501 OF BAD DEBT EXPENSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Johnson CEO | OfficerTrustee | 40 | $272,942 |
Steven Peters Chairperson | OfficerTrustee | 1 | $0 |
Russell Halsey Vice Chairperson | OfficerTrustee | 1 | $0 |
Nancy Pople Vice Chairperson - Part Year | OfficerTrustee | 1 | $0 |
Marty Debow Secretary | OfficerTrustee | 1 | $0 |
Donna Adam Secretary - Part Year | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lutz Enterprises Anesthesia Services | 6/29/22 | $879,140 |
Pgpa Llc Pharmacy Services | 6/29/22 | $312,708 |
Aureus Radiology Llc Radiology Services | 6/29/22 | $235,469 |
Alliance-hni Llc Equipment Services | 6/29/22 | $218,047 |
The Business Office Pc Healthcare Services | 6/29/22 | $132,505 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,100 |
| Government grants | $3,630,740 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,422 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,687,262 |
| Total Program Service Revenue | $36,033,735 |
| Investment income | $240,547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$11,115 |
| Net Gain/Loss on Asset Sales | $46,626 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,114,723 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $517,020 |
| Compensation of current officers, directors, key employees. | $517,020 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,019,133 |
| Pension plan accruals and contributions | $142,853 |
| Other employee benefits | $2,452,349 |
| Payroll taxes | $1,000,260 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,672 |
| Fees for services: Accounting | $96,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,102,292 |
| Advertising and promotion | $148,983 |
| Office expenses | $671,442 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $416,591 |
| Travel | $4,900 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $170,124 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,746,411 |
| Insurance | $218,568 |
| All other expenses | $571,939 |
| Total functional expenses | $37,027,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $560,880 |
| Savings and temporary cash investments | $14,252,845 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,893,482 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $764,646 |
| Prepaid expenses and deferred charges | $1,679,299 |
| Net Land, buildings, and equipment | $15,404,068 |
| Investments—publicly traded securities | $3,469,141 |
| Investments—other securities | $1,700,421 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,911,935 |
| Total assets | $43,636,717 |
| Accounts payable and accrued expenses | $4,009,112 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $3,634,136 |
| 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 | $1,283,305 |
| Total liabilities | $8,926,553 |
| Net assets without donor restrictions | $34,710,164 |
| 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 | $43,636,717 |