Polk Medical Center Inc
- Assets
- $97.8m
- Revenue
- $21.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Rome, GA
- Founding
- 12/2013
- Data as of
- 12/2021
- EIN
- 45-3957368
Organization Overview
Polk Medical Center Inc, operating under the name Floyd Polk Medical Center, is located in Rome, GA. The organization was established in 2013. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Floyd Polk 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 12/2021, Floyd Polk Medical Center generated $21.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $13.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 7 years. 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
POLK MEDICAL CENTER, A 501(C)(3) ORGANIZATION, LOCATED IN CEDARTOWN, GA IS A 25-BED CRITICAL ACCESS HOSPITAL PROVIDING CARE TO THE COMMUNITY REGARDLESS OF THE ABILITY TO PAY.
Describe the Organization's Program Activity:
POLK MEDICAL CENTER IS A 25-BED CRITICAL ACCESS HOSPITAL PROVIDING GENERAL ACUTE CARE SERVICES TO THE POLK COUNTY AND NORTHERN HARALSON COUNTY COMMUNITIES. DURING THE SIX MONTH SHORT PERIOD ENDING DECEMBER 31, 2021, PATIENT DAYS AT POLK MEDICAL CENTER TOTALED 4,010. EMERGENCY ROOM VISITS TOTALED 14,378.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tifani Kinard Administrato | Officer | 50 | $217,620 |
Deana Owen Pharmacy Dir | 50 | $189,610 | |
Leah S Ashmore Therapist | 50 | $173,300 | |
Robert Wade Nurse | $141,829 | ||
Lovejoy Leigh Pharmacist | 50 | $141,279 | |
Anita J Jackson Director Of | 50 | $138,826 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison Management Specialists Food Services | 12/30/21 | $330,677 |
Aramark Management Service Housekeeping | 12/30/21 | $213,578 |
Healthcare Workforce Logistics Nursing | 12/30/21 | $127,608 |
Cerner Corporation It Services | 12/30/21 | $122,392 |
White Coat Sciences Lab | 12/30/21 | $101,900 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $162,169 |
| All other contributions, gifts, grants, and similar amounts not included above | $660,769 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $822,938 |
| Total Program Service Revenue | $20,086,946 |
| Investment income | $451,815 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,458,525 |
| 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. | $24,750 |
| Compensation of current officers, directors, key employees. | $24,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,947,821 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,658,501 |
| Payroll taxes | $435,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,689 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,036 |
| Fees for services: Other | $895,678 |
| Advertising and promotion | $874 |
| Office expenses | $173,027 |
| Information technology | $167,324 |
| Royalties | $0 |
| Occupancy | $343,858 |
| Travel | $558,292 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,854 |
| Interest | $52,841 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,433,818 |
| Insurance | $122,090 |
| All other expenses | $527 |
| Total functional expenses | $13,539,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,106,578 |
| Savings and temporary cash investments | $18,023,413 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,718,470 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $282,120 |
| Prepaid expenses and deferred charges | $585,975 |
| Net Land, buildings, and equipment | $32,861,142 |
| Investments—publicly traded securities | $30,190,041 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,056,303 |
| Total assets | $97,824,042 |
| Accounts payable and accrued expenses | $2,485,342 |
| Grants payable | $0 |
| Deferred revenue | $1,657,523 |
| 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 | $2,687,881 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,761,820 |
| Total liabilities | $32,592,566 |
| Net assets without donor restrictions | $65,231,476 |
| 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 | $97,824,042 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Polk Medical Center Inc has recieved totaling $32,055.
| Awarding Organization | Amount |
|---|---|
Floyd Health Care Foundation Inc Floyd Medical Center Rome, GA PURPOSE: OPERATIONS | $26,555 |
Georgia Community Foundation Inc Peachtree Corners, GA PURPOSE: CONTRIBUTION | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brevard Health Alliance Inc West Melbourne, FL | $40,519,404 | $57,510,485 |
Wellmont Cardiology Services Johnson City, TN | $7,928,390 | $49,063,818 |
Careconnect Health Inc Richland, GA | $64,016,478 | $69,742,586 |
St Marys Medical Group Inc Athens, GA | $9,650,726 | $33,044,302 |
Appalachian Regional Medicalassociates Inc Boone, NC | $6,464,399 | $27,609,573 |
Cahaba Medical Care Foundation Centreville, AL | $18,005,567 | $49,779,023 |
Florida Community Health Centers Inc West Palm Beach, FL | $36,993,376 | $44,018,992 |
Medlink Georgia Inc Colbert, GA | $35,403,477 | $50,106,041 |
Genesis Health Development Inc Jacksonville, FL | $25,745,528 | $37,132,798 |
Genesis Healthcare Inc Columbia, SC | $86,839,184 | $52,766,901 |
Rural Health Services Consortium Inc Rogersville, TN | $62,835,076 | $42,021,848 |
Premier Community Healthcare Group Inc Dade City, FL | $18,299,061 | $31,976,428 |