Albany Med Health System
- Assets
- $8.5m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Saratoga Springs, NY
- Founding
- 10/2016
- Data as of
- 12/2019
- EIN
- 47-2468259
Organization Overview
Albany Med Health System is located in Saratoga Springs, NY. The organization was established in 2016. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Albany Med Health System 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 12/2019, Albany Med Health System generated $8.8m in total revenue. All expenses for the organization totaled $9.3m during the year ending 12/2019. While expenses have increased by 47.6% 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE THE PEOPLE OF THE SARATOGA REGION BY PROVIDING THEM ACCESS TO EXCELLENCE IN HEALTHCARE IN A SUPPORTIVE AND CARING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SARATOGA REGIONAL MEDICAL, P.C. (SRM) IS ORGANIZED AND OPERATED FOR THE PURPOSE OF PROMOTING HEALTH BY PROVIDING MEDICAL CARE TO THE COMMUNITY SERVED BY SARATOGA HOSPITAL. IN JUNE 2018, SRM BEGAN OPERATING AN URGENT CARE SITE IN QUEENSBURY, NY. ADIRONDACK URGENT CARE (ADKUC) PROVIDES HIGH-QUALITY ADVANCED DIAGNOSTIC AND TREATMENT SERVICES THROUGH HIGHLY-TRAINED, PATIENT-CENTERED MEDICAL PROFESSIONALS. ADKUC IS OPEN SEVEN DAYS A WEEK FROM 9AM TO 9PM AND OFFERS WALK-IN ACCESS TO MEDICAL CARE FOR NON-LIFE THREATENING CARE NEEDS. DURING 2019, ADKUC PROVIDED 10,606 PATIENT CARE VISITS. IN SEPTEMBER 2018, SRM BEGAN PROVIDING OBSTETRICS AND GYNECOLOGY SERVICES AT TWO SITES: SARATOGA OB/GYN AT MYRTLE ST. IN SARATOGA SPRINGS, NY, AND SARATOGA OB/GYN AT MALTA IN MALTA, NY. PROVIDERS AT THESE LOCATIONS WORK COLLABORATIVELY WITH PATIENTS ON MEDICAL, SURGICAL, AND PREVENTIVE CARE FOR FEMALE REPRODUCTIVE HEALTH. SARATOGA OB/GYN PROVIDERS SAW NEARLY 30,000 PATIENT VISITS FOR PREGNANCY AND GYNECOLOGICAL CARE DURING 2019. IN JUNE 2019, SRM BEGAN OPERATING A NEPHROLOGY SITE IN GLENS FALLS, NY. SARATOGA HOSPIAL MEDICAL GROUP - NEPHROLOGY AT GLENS FALLS OFFERS ITS PATIENTS AN OUTSTANDING TEAM OF BOARD-CERTIFIED PHYSICIANS, EMPLOYING THE MOST ADVANCED DIAGNOSTIC TECHNIQUES TO IDENTIFY, DEVELOP A TREATMENT PLAN, AND MANAGE KIDNEY DISEASE. IN 2019, PROVIDERS AT THIS LOCATION SAW APPROXIMATELY 1,000 PATIENT VISITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Richard Falivena President | Trustee | 2.5 | $0 |
Jeff Methven Executive Director/secretary | Officer | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $8,763,700 |
| Investment income | $0 |
| 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 | $8,765,103 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,355,892 |
| Advertising and promotion | $0 |
| Office expenses | $188,915 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $335,154 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,217 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $169,727 |
| Insurance | $324,995 |
| All other expenses | $0 |
| Total functional expenses | $9,339,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,689,502 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $672,075 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,146,812 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,508,389 |
| Accounts payable and accrued expenses | $0 |
| 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 | $14,576,443 |
| Total liabilities | $14,576,443 |
| Net assets without donor restrictions | -$6,068,054 |
| 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 | $8,508,389 |