Shore Health System Inc
- Assets
- $620.3m
- Revenue
- $313.9m
- Investments
- $79.9m
- Employees
- 1,863
- Location
- Easton, MD
- Founding
- 04/2004
- Data as of
- 06/2022
- EIN
- 52-0610538
Organization Overview
Shore Health System Inc is located in Easton, MD. The organization was established in 2004. 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 06/2022, Shore Health System Inc employed 1,863 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shore Health System 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 06/2022, Shore Health System Inc generated $313.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $252.6m during the year ending 06/2022. While expenses have increased by 1.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SHORE HEALTH SYSTEM (SHS) IS A REGIONAL, NOT-FOR-PROFIT NETWORK OF INPATIENT AND OUTPATIENT SERVICES WITH FACILITIES IN TALBOT, DORCHESTER, CAROLINE, AND QUEEN ANNE'S COUNTIES.
Describe the Organization's Program Activity:
SHS IS A 164 LICENSED BED COMMUNITY HOSPITAL PROVIDING A FULL RANGE OF INPATIENT AND OUTPATIENT CLINICAL SERVICES TO THE MARYLAND MID-SHORE AREA; INCLUDING GENERAL HOSPITAL, EMERGENCY, AND SPECIALIZED SERVICES AS WELL AS OUTPATIENT CENTERS FOR PRIMARY CARE, DIAGNOSTICS, TREATMENT, EDUCATION, AND REHABILITATION. SHS OFFERS FREE EDUCATION PROGRAMS AND SERVICES TO PROMOTE HEALTH AWARENESS IN THE COMMUNITY. DURING FY 2022, SHS PROVIDED CARE FOR 6,493 INPATIENTS RESULTING IN 30,537 DAYS OF PATIENT CARE, TREATED 55,333 PATIENTS IN THE ER, AND PERFORMED 9,133 SURGERIES IN THE OR. SHS' ANCILLARY SERVICE DEPARTMENTS REALIZED 228,641 OUTPATIENT ENCOUNTERS. SHS' MISSION STATEMENT IS "TO EXCEL IN QUALITY CARE AND PATIENT SATISFACTION". ITS STRATEGIC PRINCIPLE IS "EXCEPTIONAL CARE, EVERY DAY", AND ITS VALUES STATEMENT IS "EVERY INTERACTION WITH ANOTHER IS AN OPPORTUNITY TO CARE". AS A PART OF ITS MISSION, SHS PROVIDES CHARITY CARE TO PATIENTS UNABLE TO PAY, PROVIDING MORE THAN $4.7 MILLION OF CHARITY CARE IN FY 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed President And CEO | OfficerTrustee | 40 | $781,933 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chesapeake Contracting Grp Inc Architect & Eng Svc | 6/29/22 | $19,472,558 |
Md Emergency Medicine Network Physician Services | 6/29/22 | $4,947,163 |
Varian Medical Systems -Oncology Healthcare Services | 6/29/22 | $2,802,785 |
Tidewater Anesthesia Assoc Anesthesia Services | 6/29/22 | $1,942,357 |
Ge Healthcare Inc Healthcare Services | 6/29/22 | $1,925,225 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $167,561 |
| Government grants | $5,747,553 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,395 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,963,509 |
| Total Program Service Revenue | $302,490,571 |
| Investment income | $3,618,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$2,560,021 |
| Net Gain/Loss on Asset Sales | $3,743,567 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $313,920,138 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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. | $2,404,134 |
| Compensation of current officers, directors, key employees. | $1,517,278 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,526,571 |
| Pension plan accruals and contributions | $2,951,973 |
| Other employee benefits | $10,942,856 |
| Payroll taxes | $6,001,504 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $130,471 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $11,128 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $511,800 |
| Fees for services: Other | $67,268,101 |
| Advertising and promotion | $1,000 |
| Office expenses | $1,680,946 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,934,421 |
| Travel | $31,709 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $62,307 |
| Interest | $4,467,954 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,242,912 |
| Insurance | $5,016,664 |
| All other expenses | $1,137,956 |
| Total functional expenses | $252,589,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,272,916 |
| Savings and temporary cash investments | $65,562,873 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,287,201 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,357,719 |
| Prepaid expenses and deferred charges | $1,454,360 |
| Net Land, buildings, and equipment | $161,950,851 |
| Investments—publicly traded securities | $75,120,249 |
| Investments—other securities | $79,868,789 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $196,474,798 |
| Total assets | $620,349,756 |
| Accounts payable and accrued expenses | $63,405,272 |
| Grants payable | $0 |
| Deferred revenue | $535,936 |
| 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 | $4,283,312 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $184,252,919 |
| Total liabilities | $252,477,439 |
| Net assets without donor restrictions | $326,677,591 |
| Net assets with donor restrictions | $41,194,726 |
| 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 | $620,349,756 |