Meritus Medical Center Inc
- Assets
- $696.8m
- Revenue
- $410.1m
- Investments
- $17.2m
- Employees
- 3,500
- Location
- Hagerstown, MD
- Founding
- 02/1937
- Data as of
- 06/2020
- EIN
- 52-0607949
Organization Overview
Meritus Medical Center Inc is located in Hagerstown, MD. The organization was established in 1937. 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 06/2021, Meritus Medical Center Inc employed 3,500 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meritus Medical Center Inc 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 06/2020, Meritus Medical Center Inc generated $410.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $409.1m during the year ending 06/2020. While expenses have increased by 2.0% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
MERITUS MEDICAL CENTER, INC. (MMC) IS AN ACUTE CARE HOSPITAL LOCATED IN HAGERSTOWN, MARYLAND AND SERVES THE RESIDENTS OF WESTERN MARYLAND, SOUTHERN PENNSYLVANIA AND THE EASTERN PANHANDLE OF WEST VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hemant Chatrath MD Physician | 50 | $1,094,197 | |
Maulik Joshi Dr Ph President & CEO | OfficerTrustee | 50 | $1,055,636 |
Ali Akmal Physician | 40 | $731,838 | |
Frank Collins MD Physician | 40 | $670,477 | |
Thomas T Chan Cfo/treasurer | Officer | 50 | $660,446 |
Victoria Giffi MD Physician | 40 | $641,219 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mercy Specialized Billing Svcs Information Services | 6/29/21 | $4,445,193 |
Trimedx Llc Medical | 6/29/21 | $4,161,302 |
Anacostia Medical Associates Medical | 6/29/21 | $2,444,794 |
Roche Diagnostics Corp Medical | 6/29/21 | $2,809,900 |
Mdics At Meritus Medical Center Medical | 6/29/21 | $4,109,676 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,655,527 |
| Investment income | $6,369,387 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$835,394 |
| Net Gain/Loss on Asset Sales | $2,258,020 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $410,126,603 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $334,320 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,287,367 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,852,043 |
| Pension plan accruals and contributions | $5,930,509 |
| Other employee benefits | $19,465,804 |
| Payroll taxes | $11,556,580 |
| Fees for services: Management | $18,105,843 |
| Fees for services: Legal | $1,124,610 |
| Fees for services: Accounting | $312,915 |
| Fees for services: Lobbying | $26,672 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $504,195 |
| Fees for services: Other | $40,425,518 |
| Advertising and promotion | $1,465,923 |
| Office expenses | $480,521 |
| Information technology | $6,209,712 |
| Royalties | $0 |
| Occupancy | $6,412,619 |
| Travel | $1,186,710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $619,660 |
| Interest | $11,197,638 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,808,624 |
| Insurance | $2,388,191 |
| All other expenses | $0 |
| Total functional expenses | $409,109,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $150,721,057 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,349,729 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $265,893 |
| Inventories for sale or use | $5,992,574 |
| Prepaid expenses and deferred charges | $3,012,370 |
| Investments—publicly traded securities | $167,912,403 |
| Investments—other securities | $17,204,000 |
| Investments—program-related | $0 |
| Intangible assets | $3,807,692 |
| Other assets | $82,701,577 |
| Total assets | $696,768,766 |
| Accounts payable and accrued expenses | $136,905,883 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $251,020,878 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $100,800 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,734,235 |
| Total liabilities | $415,761,796 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $281,006,970 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Meritus Medical Center Inc has recieved totaling $64,939.
| Awarding Organization | Amount |
|---|---|
Thomas W Pangborn Resid Tr Nect No 18291 Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $64,939 |
Endowment Analysis
| Beg. Balance | $1,028,618 |
| Earnings | $263 |
| Ending Balance | $1,028,881 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Sinai Hospital Of Baltimore Inc Baltimore, MD | $642,141,254 | $936,777,270 |
Mary Washington Healthcare Fredericksburg, VA | $593,675,918 | $863,388,863 |
Bayhealth Medical Center Inc Dover, DE | $1,592,804,671 | $861,509,299 |
Tower Health Reading, PA | $1,567,530,050 | $562,187,138 |
Cabell Huntington Hospital Inc Huntington, WV | $1,087,986,142 | $722,910,695 |
Pennsylvania Hospital Of The Univ Of Pennsylvania Health System Philadelphia, PA | $773,767,590 | $678,080,811 |
Johns Hopkins Bayview Medical Center Inc Baltimore, MD | $440,914,055 | $670,376,991 |
Kennedy University Hospital Inc Philadelphia, PA | $1,241,829,856 | $668,598,689 |
Franklin Square Hospital Center Inc Baltimore, MD | $352,871,142 | $621,968,540 |
Holy Cross Health Inc Silver Spring, MD | $1,036,467,989 | $628,720,499 |