Mary Free Bed Sub-Acute Rehabilitation
- Assets
- $11.7m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 05/2015
- Data as of
- 06/2022
- EIN
- 46-3971740
Organization Overview
Mary Free Bed Sub-Acute Rehabilitation is located in Grand Rapids, MI. The organization was established in 2015. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, 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. Mary Free Bed Sub-Acute Rehabilitation 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, Mary Free Bed Sub-Acute Rehabilitation generated $9.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $9.4m during the year ending 06/2022. While expenses have increased by 10.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MARY FREE BED SUB-ACUTE REHABILITATION PROVIDES SHORT-TERM INPATIENT REHABILITATION THAT IS CUSTOMIZED, COMPREHENSIVE AND COORDINATED TO HELP INDIVIDUALS RECOVER QUICKLY FROM AN ILLNESS, INJURY OR SURGERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REHABILITATION SERVICES WITH 48 BEDS AND 14,684 PATIENT DAYS FOR 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacey Johnson Vice Chair | OfficerTrustee | 0.5 | $0 |
Christopher Allman Board Member | Trustee | 0.1 | $0 |
Bruce Brasser Board Member | Trustee | 0.5 | $0 |
Nate Guzman Board Member | Trustee | 0.5 | $0 |
Becky Lund Board Member | Trustee | 0.5 | $0 |
Lucy Mcbride Poirier Board Member | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mary Free Bed Hospital Contract Services | 6/29/18 | $6,932,063 |
Trinity Senior Living Communities Management Fee And Payroll Services | 6/29/18 | $1,352,314 |
Mercy Health Saint Mary's Contract Services | 6/29/18 | $133,994 |
Saint Mary's Ltc Pharmacy Pharmacy Services | 6/29/18 | $277,893 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $516,254 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $516,254 |
| Total Program Service Revenue | $8,137,255 |
| Investment income | $154 |
| 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 | $9,015,971 |
| 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 | $3,858,615 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $940,397 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,759 |
| Fees for services: Accounting | $3,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $144,000 |
| Fees for services: Other | $2,740,141 |
| Advertising and promotion | $0 |
| Office expenses | $5,435 |
| Information technology | $197,045 |
| Royalties | $0 |
| Occupancy | $133,102 |
| Travel | $29,107 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $409,897 |
| Insurance | $52,444 |
| All other expenses | $35,938 |
| Total functional expenses | $9,378,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $801,708 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,419,437 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,029 |
| Prepaid expenses and deferred charges | $54,496 |
| Net Land, buildings, and equipment | $8,679,682 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $720,000 |
| Total assets | $11,692,852 |
| Accounts payable and accrued expenses | $1,490,940 |
| 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 | $0 |
| Total liabilities | $1,490,940 |
| Net assets without donor restrictions | $10,201,912 |
| 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 | $11,692,852 |