Boone Memorial Hospital Inc
- Assets
- $68.5m
- Revenue
- $58.3m
- Investments
- $0.0
- Employees
- 454
- Location
- Madison, WV
- Founding
- 03/2012
- Data as of
- 06/2021
- EIN
- 55-0477361
Organization Overview
Boone Memorial Hospital Inc is located in Madison, WV. The organization was established in 2012. 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, Boone Memorial Hospital Inc employed 454 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boone Memorial Hospital 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 06/2021, Boone Memorial Hospital Inc generated $58.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $54.1m during the year ending 06/2021. While expenses have increased by 12.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BOONE MEMORIAL HOSPITAL STRIVES TO SUPPLY A COMPREHENSIVE RANGE OF INPATIENT AND OUTPATIENT SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN PERFORMING ITS MISSION, BOONE MEMORIAL HOSPITAL HAD 738 ACUTE CARE ADMISSIONS AND 128 SKILLED NURSING CARE ADMISSIONS. THE HOSPITAL ALSO HAD 14 RESPITE CARE PATIENTS, 13,221 EMERGENCY ROOM VISITS, 45,919 OUT-PATIENT VISITS AND 42,306 VISITS IN ITS TWO RURAL HEALTH CLINICS.BOONE MEMORIAL HOSPITAL CONDUCTS AN ANNUAL HEALTH FAIR. THE HOSPITAL USES THE LOCAL MADISON CIVIC CENTER AND OFFERS VERY LOW COST BLOOD WORK TO THE COMMUNITY. APPROXIMATELY 350 COMMUNITY MEMBERS ATTENDED THE HEALTH FAIR AND APPROXIMATELY 124 RECEIVED LOW COST BLOOD WORK.BMH RESPITE CARE PROGRAM. THE HOSPITAL HAD 14 RESPITE CARE ADMISSIONS AND 210 RESPITE DAYS FOR ITS 6/30/21 FISCAL YEAR. THE RESPITE CARE PROGRAM IS A CASH ONLY PROGRAM. IT IS NOT BILLED TO INSURANCE, BUT THE RATE IS ONLY $221 PER DAY. WE OFFER THIS AS A COMMUNITY BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Shaun Hager Doctor | 40 | $559,756 | |
Shane Edward Cook Doctor | 40 | $522,807 | |
Thomas Brian Cortellesi Doctor | 40 | $507,103 | |
Charles D Crigger Doctor | 40 | $441,011 | |
Philip Todd Berry Doctor | 40 | $437,151 | |
Virgil Underwood CEO | Officer | 50 | $229,783 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cardinal Health 110 Llc Healthcare | 6/29/21 | $3,541,957 |
Cpsi System Software Vendor | 6/29/21 | $1,501,592 |
Biofire Diagnostics Llc Healthcare | 6/29/21 | $1,477,598 |
Rehab One Ltd Physical Therapy Services | 6/29/21 | $918,036 |
Camc Labworks Lab Services | 6/29/21 | $733,205 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $22,105 |
| Related organizations | $0 |
| Government grants | $2,521,812 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,951,617 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,495,534 |
| Total Program Service Revenue | $51,499,271 |
| Investment income | $100,085 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $85,566 |
| Net Gain/Loss on Asset Sales | -$74,247 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,312,219 |
| 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. | $3,276,528 |
| Compensation of current officers, directors, key employees. | $3,276,528 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,268,620 |
| Pension plan accruals and contributions | $2,371,971 |
| Other employee benefits | $404,018 |
| Payroll taxes | $1,275,183 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,109 |
| 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 | $6,789,672 |
| Advertising and promotion | $147,337 |
| Office expenses | $1,319,003 |
| Information technology | $91,481 |
| Royalties | $0 |
| Occupancy | $1,047,737 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $201,168 |
| Interest | $1,138,614 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,761,693 |
| Insurance | $519,724 |
| All other expenses | $194,540 |
| Total functional expenses | $54,144,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,790,867 |
| Savings and temporary cash investments | $2,703,983 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,945,632 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $559,193 |
| Inventories for sale or use | $932,408 |
| Prepaid expenses and deferred charges | $173,733 |
| Net Land, buildings, and equipment | $30,575,391 |
| Investments—publicly traded securities | $816,553 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $68,497,760 |
| Accounts payable and accrued expenses | $16,110,685 |
| Grants payable | $0 |
| Deferred revenue | $271,102 |
| 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 | $32,309,911 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,317,673 |
| Total liabilities | $51,009,371 |
| Net assets without donor restrictions | $17,488,389 |
| 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 | $68,497,760 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Boone Memorial Hospital Inc has recieved totaling $5,354.
| Awarding Organization | Amount |
|---|---|
Greater Kanawha Valley Foundation Charleston, WV PURPOSE: GENERAL SUPPORT | $5,343 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $11 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maryview Hospital Llc Suffolk, VA | $0 | $126,392,609 |
Lehigh Valley Hospital - Schuykill Allentown, PA | $123,931,422 | $141,448,853 |
Wood County Hospital Assn Bowling Green, OH | $236,887,243 | $125,669,234 |
Davis Memorial Hospital Elkins, WV | $99,450,993 | $120,748,268 |
St Lukes Quakertown Hospital Allentown, PA | $224,667,230 | $112,978,373 |
U Of M Rehab & Orthopaedic Institute Baltimore, MD | $214,130,610 | $125,454,652 |
Shelby County Memorial Hospital Association Inc Sidney, OH | $171,819,264 | $129,965,258 |
Upmc Pittsburgh, PA | $122,342,039 | $105,892,952 |
Bon Secours-Richmond Community Hospital Richmond, VA | $200,107,508 | $168,768,277 |
Northeastern Pennsylvania Health Corporation Allentown, PA | $304,803,492 | $145,234,138 |
Reynolds Memorial Hospital Inc Glen Dale, WV | $68,940,537 | $122,482,209 |
Uva Culpeper Medical Center Culpeper, VA | $139,556,597 | $116,029,117 |