Richmond Eye & Ear Healthcare Alliance
- Assets
- $45.0m
- Revenue
- $30.4m
- Investments
- $0.0
- Employees
- 194
- Location
- Richmond, VA
- Founding
- 09/2000
- Data as of
- 12/2021
- EIN
- 54-1904435
Organization Overview
Richmond Eye & Ear Healthcare Alliance, operating under the name Medarva Healthcare, is located in Richmond, VA. The organization was established in 2000. According to its NTEE Classification (E24) the organization is classified as: Specialty Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2022, Medarva Healthcare employed 194 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medarva Healthcare 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 12/2021, Medarva Healthcare generated $30.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $16.6m during the year ending 12/2021. While expenses have increased by 3.0% 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.
Since 2014, Medarva Healthcare has awarded 33 individual grants totaling $2,488,300. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RICHMOND EYE AND EAR HEALTHCARE ALLIANCE'S (REEHA) MISSION IS TO OPERATE AN OUTPATIENT SURGICAL HOSPITAL IN A MANNER THAT PROMOTES HEALTH FOR A BROAD CROSS SECTION OF THE COMMUNITY, INCLUDING: ACCESS TO THE AVAILABILITY OF HEALTHCARE; FUND HEALTH RESEARCH AND COMMUNITY GRANTS; PROVIDE OTHER HEALTH CARE GRANTS AS DEEMED APPROPRIATE BY ITS BOARD OF DIRECTORS; PROMOTE THE USE OF HEALTHCARE TECHNOLOGY AND EDUCATION; AND PROVIDE FREE HEALTH CLINIC CARE SERVICES AND FUNDING AS DEEMED APPROPRIATE BY ITS BOARD OF DIRECTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOLLOWING ARE A FEW OF REEHA'S PROGRAM SERVICES: OPERATING THE LOW VISION CENTER, WHICH PROVIDES LOW VISION REHABILITATION SERVICES TO INDIVIDUALS WITH VISUAL IMPAIRMENT, REGARDLESS OF THEIR ABILITY TO PAY. LOW VISION REHABILITATION IS A COSTLY, TIME-INTENSIVE ENDEAVOR, SERVING OVER 300 UNIQUE PATIENTS EACH YEAR TO REDUCE THE IMPACT OF VISION LOSS AND IMPROVING INDEPENDENCE AND QUALITY OF LIFE IN ITS PATIENTS' LIVES. 2) PROVIDING FREE VISION AND HEARING SCREENINGS FOR PRE-KINDERGARTEN CHILDREN TO DETECT POTENTIAL VISUAL AND AUDITORY PROBLEMS AT AN EARLY AGE, WHICH IS CRITICAL FOR ACADEMIC SUCCESS. SCREENINGS ARE PROVIDED REGARDLESS OF INCOME OR INSURANCE, AND PATIENTS ARE REFERRED TO A VISION PHYSICIAN TO RECEIVE FOLLOW-UP CARE. ALONG WITH SCREENINGS, REEHA PROVIDES EDUCATIONAL INFORMATION REGARDING THE IMPORTANCE OF VISUAL AND AUDITORY HEALTH, AND 3) PROVIDING OUTREACH FOR PRINT DISABLED INDIVIDUALS, SUPPORTING A PARENT-CHILD ADVOCATE PROGRAM FOR THE DEAF AND HARD OF HEARING COMMUNITY, AND DONATING FUNDS A LOCAL FREE CLINIC FOR UNINSURED PATIENTS. REEHA ALSO PROVIDES GRANT FUNDS TO COLLEGES AND UNIVERSITIES TO SUPPORT RESEARCH STUDIES IN THE AREAS OF HEARING AND VISION DISEASE, AND IN PARTNERSHIP OR DIRECTLY OTHER ORGANIZATIONS THAT PROMOTE COMMUNITY HEALTHCARE.THE PARENT ORGANIZATION OF REEHA IS AN OWNER IN STONY POINT SURGERY CENTER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew J Michael MD Director | Trustee | 1 | $0 |
Mrs Cherry Peters Director | Trustee | 1 | $0 |
Mr Peter Pastore Director | Trustee | 1 | $0 |
Mrs Cheryl Jarvis Director | Trustee | 1 | $0 |
Ms Joanne Wiley Director | Trustee | 1 | $0 |
Chris Petras MD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $249,058 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $222,243 |
| Net Gain/Loss on Asset Sales | $14,130,610 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,371,588 |
| Statement of Expenses | |
|---|---|
| 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. | $2,692,998 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,385,475 |
| Pension plan accruals and contributions | $142,424 |
| Other employee benefits | $162,455 |
| Payroll taxes | $153,034 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $180,661 |
| 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 | $126,818 |
| Advertising and promotion | $224,494 |
| Office expenses | $87,685 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $575,049 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $51,637 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $528,444 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $16,570,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,163,682 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,463,566 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $38,290 |
| Prepaid expenses and deferred charges | $15,335 |
| Investments—publicly traded securities | $15,835,817 |
| Investments—other securities | $0 |
| Investments—program-related | $7,313,556 |
| Intangible assets | $0 |
| Other assets | $3,595,349 |
| Total assets | $45,037,769 |
| Accounts payable and accrued expenses | $962,133 |
| Grants payable | $0 |
| Deferred revenue | $124,828 |
| 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 | $3,480,713 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,802,085 |
| Total liabilities | $6,369,759 |
| Net assets without donor restrictions | $38,668,010 |
| 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 | $38,668,010 |
Grants Awarded
Over the last fiscal year, Richmond Eye & Ear Healthcare Alliance has awarded $180,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GOOCHLAND CARES PURPOSE: PROGRAM OPERATIONS | $150,000 |
MEDICAL COLLEGE OF VIRGINIA FOUNDATION PURPOSE: PAID ON BEHALF OF FOUNDATION COVID RESEARCH GRANT | $30,000 |