Virginia Gay Hospital Inc
- Assets
- $40.2m
- Revenue
- $36.4m
- Investments
- $457.0k
- Employees
- 398
- Location
- Vinton, IA
- Founding
- 10/1976
- Data as of
- 06/2023
- EIN
- 42-1231996
Organization Overview
Virginia Gay Hospital Inc is located in Vinton, IA. The organization was established in 1976. 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, Virginia Gay Hospital Inc employed 398 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Gay Hospital Inc 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 06/2023, Virginia Gay Hospital Inc generated $36.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $36.2m during the year ending 06/2023. While expenses have increased by 4.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF HEALTH CARE SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIRGINIA GAY HOSPITAL IS A 25-BED ACUTE CARE HOSPITAL AND A 40-BED LONG-TERM CARE FACILITY LOCATED IN VINTON, IOWA. THE HOSPITAL LEADS DELIVERY OF HEALTHCARE TO ITS REGION THROUGH OVER 300 ASSOCIATES (INCLUDING 18 PROVIDERS) WHO COORDINATE CARE TO DELIVER PATIENT CARE AS AN INTEGRATED UNIT. VIRGINIA GAY HOSPITAL AND ITS AFFILIATES ALSO WORK SEAMLESSLY TO MEET THE NEEDS OF THE COMMUNITIES THEY SERVE. THE HOSPITAL PROVIDES CARE TO PATIENTS AND RESIDENTS WHO MEET CERTAIN CRITERIA UNDER ITS CHARITY CARE POLICY WITHOUT CHARGE OR AT AMOUNTS LESS THAN ESTABLISHED RATES. BECAUSE THE HOSPITAL DOES NOT PURSUE COLLECTION OF AMOUNTS DETERMINED TO QUALIFY AS CHARITY CARE, THEY ARE NOT REPORTED AS REVENUE. THE AMOUNTS OF CHARGES FOREGONE FOR SERVICES PROVIDED UNDER THE HOSPITAL'S CHARITY CARE POLICY WERE $161,167 FOR THE YEAR ENDED JUNE 30, 2023. TOTAL DIRECT AND INDIRECT COSTS RELATED TO THESE CHARGES FOREGONE WERE APPROXIMATELY $85,000 AT JUNE 30, 2023, BASED ON AN AVERAGE RATIO OF COST TO GROSS CHARGES.IN ADDITION, THE HOSPITAL PROVIDES SERVICES TO OTHER PATIENTS UNDER CERTAIN GOVERNMENT-REIMBURSED PUBLIC AID PROGRAMS. SUCH PROGRAMS PAY PROVIDERS AMOUNTS WHICH ARE LESS THAN ESTABLISHED CHARGES FOR THE SERVICES PROVIDED TO THE RECIPIENTS, AND FOR SOME SERVICES THE PAYMENTS ARE LESS THAN THE COST OF RENDERING THE SERVICES PROVIDED.THE HOSPITAL ALSO COMMITS SIGNIFICANT TIME AND RESOURCES TO ENDEAVORS AND CRITICAL SERVICES WHICH MEET OTHERWISE UNFULFILLED COMMUNITY NEEDS. MANY OF THESE ACTIVITIES ARE SPONSORED WITH THE KNOWLEDGE THAT THEY WILL NOT BE SELF-SUPPORTING OR FINANCIALLY VIABLE.VIRGINIA GAY HOSPITAL ALSO MAKES MEDICAL CARE ACCESSIBLE TO THE ENTIRE COMMUNITY IT SERVES. THE HOSPITAL OPERATES A FULL-TIME EMERGENCY ROOM AND PROVIDES EMERGENCY CARE REGARDLESS OF ABILITY TO PAY. THE HOSPITAL PROVIDES CLINICAL SERVICES NEEDED TO OPERATE THE EMERGENCY ROOM AND PROVIDES ON-SITE EMERGENCY MEDICAL CARE AND MEDICAL TRANSPORTATION SERVICES THROUGH AN AREA AMBULANCE SERVICE, VAN SERVICE, AND AN ONSITE HELIPAD.THE HOSPITAL HAD 36,337 OUTPATIENT VISITS AND THE RURAL HEALTH CLINICS HAD 38,671 VISITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Yundt Chair | OfficerTrustee | 0.5 | $0 |
David Vermedahl Vice Chair | OfficerTrustee | 0.5 | $0 |
Sara Stuefan Secretary | OfficerTrustee | 0.5 | $0 |
John Mossman Treasurer | OfficerTrustee | 0.9 | $0 |
Dr Brian Meeker DO Director | Trustee | 40.5 | $699,672 |
Marie Therese Foth Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grapetree Medical Staffing Contract Staffing | 6/29/23 | $1,293,455 |
National Therapeutic Association Physical/occupational/speech Therapy | 6/29/23 | $862,006 |
All Medical Personnel Inc Contract Staffing | 6/29/23 | $710,883 |
Medical Solutions Llc Contract Staffing | 6/29/23 | $679,005 |
Iowa Anesthesia Lc Crna & Ultrasound | 6/29/23 | $543,743 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,996,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $171,588 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,168,486 |
| Total Program Service Revenue | $33,878,946 |
| Investment income | $746,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$383,101 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,411,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,442,206 |
| Compensation of current officers, directors, key employees. | $407,238 |
| Compensation to disqualified persons | $28,083 |
| Other salaries and wages | $15,233,236 |
| Pension plan accruals and contributions | $192,403 |
| Other employee benefits | $1,678,290 |
| Payroll taxes | $1,094,708 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,986 |
| Fees for services: Accounting | $75,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,767,724 |
| Advertising and promotion | $132,234 |
| Office expenses | $1,302,673 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $588,883 |
| Travel | $85,018 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,139 |
| Interest | $5,080 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,155,785 |
| Insurance | $275,103 |
| All other expenses | $183,338 |
| Total functional expenses | $36,249,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,799,824 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,370,833 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $364,349 |
| Prepaid expenses and deferred charges | $119,014 |
| Net Land, buildings, and equipment | $14,458,863 |
| Investments—publicly traded securities | $13,697,593 |
| Investments—other securities | $457,033 |
| Investments—program-related | $255,444 |
| Intangible assets | $0 |
| Other assets | $672,920 |
| Total assets | $40,195,873 |
| Accounts payable and accrued expenses | $2,627,583 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $785,460 |
| Total liabilities | $3,413,043 |
| Net assets without donor restrictions | $36,645,810 |
| Net assets with donor restrictions | $137,020 |
| 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 | $40,195,873 |