Faith Hospice
- Assets
- $23.8m
- Revenue
- $26.3m
- Investments
- $0.0
- Employees
- 280
- Location
- Grand Rapids, MI
- Founding
- 06/1994
- Data as of
- 12/2022
- EIN
- 38-3062893
Organization Overview
Faith Hospice is located in Grand Rapids, MI. The organization was established in 1994. According to its NTEE Classification (E92) the organization is classified as: Home Health Care, under the broad grouping of Health Care and related organizations. As of 12/2022, Faith Hospice employed 280 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith Hospice 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, Faith Hospice generated $26.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $24.6m during the year ending 12/2022. While expenses have increased by 4.0% per year over the past 4 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
TO PROVIDE HOSPICE SERVICES IN A 20 BED FACILITY AND TO PROVIDE IN-HOME SERVICES TO RESIDENTS OF THE GREATER GRAND RAPIDS AND WESTERN MICHIGAN COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF HOSPICE SERVICES THROUGHOUT THE WESTERN MICHIGAN COMMUNITY TO MORE THAN 2,000 PATIENTS, MOST OF WHOM WERE MEDICARE OR MEDICAID RECIPIENTS. THE ORGANIZATION PROVIDES BENEVOLENCE WHERE NEEDED, FOR PATIENTS WHO DO NOT QUALIFY FOR MEDICARE OR MEDICAID AND CAN NOT AFFORD THE FULL COST OF THE SERVICES PROVIDED.
PROVISION OF HOSPICE SERVICES IN A 20 BED HOSPICE FACILITY (TRILLIUM WOODS). SERVICES WERE PROVIDED IN THE 20 BED HOSPICE FACILITY AT AN UNCOMPENSATED DISCOUNT OF $324,467, OF WHICH AMOUNTS WERE RECEIVED VIA PUBLIC DONATIONS TO COVER A PORTION OF THE UNCOMPENSATED DISCOUNT.
PROVISION OF PALLIATIVE CARE SERVICES THROUGH PHYSICIAN/NURSE PRACTITIONER TEAMS AND HOME HEALTH TEAMS, AVAILABLE 24/7 TO FOCUS ON PHYSICAL, EMOTIONAL AND PSYCHOLOGICAL NEEDS OF THE PATIENT AND THEIR FAMILY. PALLIATIVE CARE SERVICES WERE PROVIDED AT AN UNCOMPENSATED LOSS OF $410,390.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Troy Vugteveen CEO & President | OfficerTrustee | 0 | $0 |
David Tiesenga Chief Strategy Officer | Officer | 0 | $0 |
Therese Rouse Physician | 50 | $258,097 | |
Michael Dozeman Physician | 50 | $253,713 | |
Kayla Andres Physician | 50 | $235,726 | |
Adam Kinder Chief Financial Officer | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Holland Home Board & Care, Mgmt Svcs | 12/30/22 | $5,029,945 |
Enclara Pharmaceuticals Pharmacy & Related Svcs | 12/30/22 | $979,846 |
Edison Christian Health Center Board & Care | 12/30/22 | $875,175 |
Carelinc Medical Equipment Board & Care | 12/30/22 | $579,201 |
Erhardt Construction Construction | 12/30/22 | $1,269,315 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $38,700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,141,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,179,770 |
| Total Program Service Revenue | $24,955,216 |
| Investment income | $145,947 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$44,821 |
| Net Income from Fundraising Events | $39,297 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,310,806 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,281,366 |
| Pension plan accruals and contributions | $143,708 |
| Other employee benefits | $963,417 |
| Payroll taxes | $716,596 |
| Fees for services: Management | $2,796,103 |
| Fees for services: Legal | $73,850 |
| Fees for services: Accounting | $24,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,339 |
| Fees for services: Other | $6,698 |
| Advertising and promotion | $589,722 |
| Office expenses | $243,998 |
| Information technology | $352,069 |
| Royalties | $0 |
| Occupancy | $285,057 |
| Travel | $270,673 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,697 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $458,366 |
| Insurance | $139,032 |
| All other expenses | $266,119 |
| Total functional expenses | $24,574,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,814,452 |
| Savings and temporary cash investments | $780,487 |
| Pledges and grants receivable | $30,000 |
| Accounts receivable, net | $2,496,791 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $15,614 |
| Prepaid expenses and deferred charges | $24,630 |
| Net Land, buildings, and equipment | $9,936,214 |
| Investments—publicly traded securities | $7,680,859 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,779,047 |
| Accounts payable and accrued expenses | $2,288,044 |
| Grants payable | $0 |
| Deferred revenue | $91,239 |
| 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 | $0 |
| Total liabilities | $2,379,283 |
| Net assets without donor restrictions | $19,047,435 |
| Net assets with donor restrictions | $2,352,329 |
| 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 | $23,779,047 |