Polk Medical Center Inc
- Assets
- $96.6m
- Revenue
- $68.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Rome, GA
- Founding
- 12/2013
- Data as of
- 12/2022
- 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 12/2022, Floyd Polk Medical Center generated $68.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $49.2m during the year ending 12/2022. While expenses have increased by 10.5% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH, ELEVATE HOPE AND ADVANCE HEALING - FOR ALL.
Describe the Organization's Program Activity:
THE ORGANIZATION OPERATES A 25-BED, CRITICAL ACCESS HOSPITAL THAT PROVIDES HEALTH CARE SERVICES TO POLK COUNTY AND NORTHERN HARALSON COUNTY WITH SUPPORT FROM ATRIUM HEALTH FLOYD HEALTH SYSTEM'S COMPREHENSIVE NETWORK OF CARE. THE ORGANIZATION PROVIDES A LEVEL IV TRAUMA CENTER, INPATIENT REHABILITATION, IMAGING, LAB WORK, AND INFUSION THERAPY. DURING 2022, ATRIUM HEALTH POLK MEDICAL CENTER HAD APPROXIMATELY 7,900 PATIENT DAYS AND OVER 26,400 EMERGENCY ROOM VISITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Stuenkel Board Member, Pres/scrty | OfficerTrustee | 1 | $0 |
Frank Shelley Chair | OfficerTrustee | 1 | $2,500 |
George A Bosworth MD Board Member | Trustee | 1 | $2,000 |
Kay Chumbler Board Member | Trustee | 1 | $2,700 |
Todd Bussey Board Member | Trustee | 1 | $2,250 |
Britt Madden Jr Board Member | Trustee | 1 | $2,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Healthcare Workforce Logistics Contract Labor | 12/30/22 | $1,013,797 |
Aramark Management Service Facility Services | 12/30/22 | $437,372 |
Morrison Management Specialists Dietary Services | 12/30/22 | $432,902 |
White Coat Sciences Lab Services | 12/30/22 | $144,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,477,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $391,871 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,869,206 |
| Total Program Service Revenue | $65,625,973 |
| Investment income | $571,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,934 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $68,199,123 |
| 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. | $28,588 |
| Compensation of current officers, directors, key employees. | $14,294 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,464,292 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $509,703 |
| Payroll taxes | $1,072,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $69,800 |
| Fees for services: Lobbying | $931 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,650 |
| Fees for services: Other | $3,394,621 |
| Advertising and promotion | $6,766 |
| Office expenses | $35,367 |
| Information technology | $42,711 |
| Royalties | $0 |
| Occupancy | $1,622,249 |
| Travel | $33,959 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,463 |
| Interest | $102,532 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,448,300 |
| Insurance | $331,241 |
| All other expenses | $32,234 |
| Total functional expenses | $49,193,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,129,966 |
| Savings and temporary cash investments | $24,190,031 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,492,259 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $281,177 |
| Prepaid expenses and deferred charges | $222,226 |
| Net Land, buildings, and equipment | $31,536,616 |
| Investments—publicly traded securities | $23,680,692 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,072,000 |
| Total assets | $96,604,967 |
| Accounts payable and accrued expenses | $1,816,182 |
| Grants payable | $32,999 |
| 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 | $12,735,447 |
| Total liabilities | $14,584,628 |
| Net assets without donor restrictions | $82,020,339 |
| 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 | $96,604,967 |