Pratt Regional Medical Center Corporation
- Assets
- $54.2m
- Revenue
- $56.8m
- Investments
- $0.0
- Employees
- 423
- Location
- Pratt, KS
- Founding
- 11/1988
- Data as of
- 09/2023
- EIN
- 48-1058737
Organization Overview
Pratt Regional Medical Center Corporation is located in Pratt, KS. The organization was established in 1988. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Pratt Regional Medical Center Corporation employed 423 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pratt Regional Medical Center 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 09/2023, Pratt Regional Medical Center Corporation generated $56.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $60.0m during the year ending 09/2023. While expenses have increased by 1.1% 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
TO OPERATE A MEDICAL SYSTEM TO DIAGNOSE, TREAT, AND CARE FOR INDIVIDUALS SUFFERING FROM PHYSICAL ILLNESS, DISEASE, INJURY, OR DEFORMITY IN PRATT CO AND ADJACENT AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACUTE CARE HOSPITAL THAT PROVIDES MEDICAL CARE TO THE GENERAL PUBLIC. PRATT REGIONAL MEDICAL CENTER (PRMC) STRIVES TO PROVIDE EXCELLENT AND COMPASSIONATE HEALTHCARE SERVICES. AS A COMMUNITY NOT-FOR-PROFIT ORGANIZATION, WE TAKE SERIOUSLY OUR RESPONSIBILITY TO INVEST OUR RESOURCES AND ENERGIES INTO UNDERSTANDING AND MEETING THE DIVERSE HEALTHCARE NEEDS OF ALL AND ENSURE THAT EVERYONE, REGARDLESS OF THEIR ABILITY TO PAY, RECEIVES THE CARE THEY NEED. IN FY 2023, PRMC PROVIDED OVER $85K IN CHARITY CARE AND CONTINUES TO FINANCIALLY SUPPORT THE AGAPE CLINIC - CONTRIBUTING OVER $10K DURING THIS PERIOD. PRMC FOCUSED RECRUITMENT AND RETENTION EFFORTS BY AWARDING OVER $110K IN CONTINUED EDUCATION. PRMC EMPLOYS OVER 350 EMPLOYEES IN BOTH FULL AND PART-TIME POSITIONS - MAKING IT THE LARGEST EMPLOYER IN PRATT COUNTY. IN FY 2023, PRMC SUPPORTED THE LOCAL ECONOMY BY CONTRIBUTING OVER $29M TOWARDS SALARIES AND BENEFITS AND AN ADDITIONAL $1.3M IN UTILITIES TO HELP OPERATE THE FACILITY. PRMC BRINGS ENORMOUS VALUE TO THE PRATT COMMUNITY THROUGH QUALITY HEALTHCARE SERVICES AND EMPLOYMENT OPPORTUNITIES. OUR TOP-NOTCH PHYSICIANS PROVIDE PATIENT-CENTERED CARE IN A WIDE VARIETY OF SPECIALTIES. OUR MEDICAL STAFF IS COMPRISED OF FIVE FAMILY PRACTICE PHYSICIANS, THREE INTERNISTS, FOUR ORTHOPEDIC SURGEONS, TWO GENERAL SURGEONS, ONE GYNECOLOGY SURGEON, AND ONE PODIATRY SURGEON. PRMC HAS BEEN SUCCESSFUL AT MEETING HIGH-QUALITY HEALTHCARE NEEDS FOR THE PAST SEVENTY-FIVE YEARS. IT IS PRMC'S VISION TO CONTINUE MEETING THOSE EXPECTATIONS AND BECOMING THE HEALTHCARE PROVIDER OF CHOICE FOR SOUTH-CENTRAL AND WESTERN KANSAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 40 | $910,948 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Dietary And Housekeeping Services | 9/29/23 | $2,132,562 |
Forvis Mazars Llp Audit/tax/consulting Services | 9/29/23 | $1,459,736 |
Qualivis Llc Nursing Contract Labor | 9/29/23 | $1,247,129 |
Sound Physicians Anesthesia Services | 9/29/23 | $1,136,097 |
Pratt Mri Llc Mri Services | 9/29/23 | $923,415 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $63,392 |
| Government grants | $189,294 |
| 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 | $252,686 |
| Total Program Service Revenue | $53,564,896 |
| Investment income | $295,885 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $260,770 |
| Net Gain/Loss on Asset Sales | $12,902 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,772,856 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,823 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,536,623 |
| Compensation of current officers, directors, key employees. | $1,302,207 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,618,793 |
| Pension plan accruals and contributions | $300,333 |
| Other employee benefits | $1,201,591 |
| Payroll taxes | $1,648,219 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129,150 |
| Fees for services: Accounting | $53,728 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,321 |
| Fees for services: Other | $11,039,484 |
| Advertising and promotion | $296,788 |
| Office expenses | $865,353 |
| Information technology | $140,425 |
| Royalties | $0 |
| Occupancy | $1,775,015 |
| Travel | $136,372 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $143,862 |
| Interest | $451,584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,556,976 |
| Insurance | $515,029 |
| All other expenses | $199,777 |
| Total functional expenses | $60,049,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,100 |
| Savings and temporary cash investments | $4,196 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,102,955 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,075,948 |
| Prepaid expenses and deferred charges | $1,096,465 |
| Net Land, buildings, and equipment | $29,107,743 |
| Investments—publicly traded securities | $955,770 |
| Investments—other securities | $0 |
| Investments—program-related | $585,633 |
| Intangible assets | $0 |
| Other assets | $8,012,963 |
| Total assets | $54,206,773 |
| Accounts payable and accrued expenses | $10,487,732 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $15,949,225 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,388,704 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $27,825,661 |
| Net assets without donor restrictions | $26,282,814 |
| Net assets with donor restrictions | $98,298 |
| 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 | $54,206,773 |