Wmc Public Benefit Corporation
- Assets
- $44.1m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, MS
- Founding
- 03/2016
- Data as of
- 12/2023
- EIN
- 47-4965115
Organization Overview
Wmc Public Benefit Corporation is located in Louisville, MS. The organization was established in 2016. According to its NTEE Classification (E02) the organization is classified as: Management & Technical Assistance, 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. Wmc Public Benefit Corporation 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 12/2023, Wmc Public Benefit Corporation generated $3.4m in total revenue. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 15.1% 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
WMC PUBLIC BENEFIT CORPORATION'S MISSION IS TO PROMOTE AND ASSIST WINSTON COUNTY MEDICAL FOUNDATION (A NOT-FOR-PROFIT CORPORATION OPERATING AN ACUTE CARE HOSPITAL AND A LONG-TERM CARE NURISNG HOME LOCATED IN LOUISVILLE, MS)WITH THE DEVELOPMENT OF HOSPITAL FACILITIES AND THE SECURING OF CAPITAL FOR THE OPERATION OF HEALTH CARE RELATED SERVICES TO BENEFIT THE HEALTH AND WELLNESS OF THE CITIZENS OF WINSTON COUNTY, MS AND SURROUNDING AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A LEASE AGREEMENT WIT WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" ON DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSO SHALL PROVIDE AND LEASE TO THE LESSEE THE LAND AND HOSPITAL FACILITY WHICH CONSIST OF VARIOUS BUILDINGS AND A PARKING AREA. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF THIRTY YEARS. WMC PUBLIC BENEFIT CORPORATION "LESSOR" ENTERED INTO A SEPARATE LEASE AGREEMENT WITH WINSTON COUNTY MEDICAL FOUNDATION "LESSEE" O DECEMBER 14, 2015 "THE COMMENCEMENT DATE". THE INTENT OF THE LESSOR AND LESSEE IS THAT THE LESSOR SHALL PROVIDE AND LEASE TO THE LESSEE VARIOUS EQUIPMENT. THE TERM OF THIS AGREEMENT BEGAN ON THE COMMENCEMENT DATE AND SHALL CONTINUE FOR A PERIOD OF SEVEN YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Brantley Trustee | Trustee | $0 | |
Bruce Lee Trustee | Trustee | $0 | |
Mary Tabor Trustee | Trustee | $0 | |
Dow Thomas Trustee | Trustee | $0 | |
Terry Woods Trustee | Trustee | $0 | |
Michael Nester CEO | Officer | $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 | $3,368,176 |
| Investment income | $296 |
| 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 | $3,368,472 |
| 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 | $24,541 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $500,097 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,715,888 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,240,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,502 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,843,791 |
| 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 | $41,240,833 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,114,126 |
| 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 | $10,268,981 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $64,186 |
| Total liabilities | $10,333,167 |
| Net assets without donor restrictions | $33,780,959 |
| 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 | $44,114,126 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Methodist Family Health Inc Little Rock, AR | $16,586,255 | $12,843,812 |
Community Health Center Association Of Mississippi Jackson, MS | $4,610,739 | $9,868,448 |
Tennessee Charitable Care Network Franklin, TN | $1,360,031 | $5,852,849 |
Central Mississippi Trauma Region Brandon, MS | $328,860 | $4,933,472 |
Wmc Public Benefit Corporation Louisville, MS | $44,114,126 | $3,368,472 |
Alabama Council Of Emergency Medical Services Inc Lincoln, AL | $3,450,100 | $2,131,609 |
East Central Alabama Ahec Gadsden, AL | $543,627 | $409,227 |
504healthnet Metairie, LA | $280,187 | $396,004 |
Uab-Svhs Inc Birmingham, AL | $122,130 | $0 |
Loudon County Health Improvement Council Loudon, TN | $50,608 | $0 |
Empowering Community Healthcare Outreach Memphis, TN | $7,680 | $0 |
Forrest General Health Services Inc Hattiesburg, MS | $214,032 | $34 |
Quality Partners Management Services Inc Hoover, AL | $0 | $0 |
Dava Health Inc Nashville, TN | $0 | $0 |