Hospital Development Co
- Assets
- $50.0m
- Revenue
- $62.5m
- Investments
- $0.0
- Employees
- 399
- Location
- Spencer, WV
- Founding
- 09/1966
- Data as of
- 09/2023
- EIN
- 55-0484469
Organization Overview
Hospital Development Co, operating under the name Roane General Hospital, is located in Spencer, WV. The organization was established in 1966. 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, Roane General Hospital employed 399 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Roane General Hospital 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, Roane General Hospital generated $62.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $62.5m during the year ending 09/2023. While expenses have increased by 9.8% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE GENERAL HEALTH AND WELFARE OF ROANE COUNTY AND SURROUNDING AREAS AND ALL OF THE CITIZENS THEREOF BY FURTHERING ALL LEGITIMATE METHODS FOR THE PREVENTION AND TREATMENT OF DISEASE AND THE POSITIVE PROMOTION OF HEALTH, BOTH PERSONAL AND PUBLIC, INCLUDING BUT NOT LIMITED TO THE OPERATION OF HOSPITALS, NURSING SCHOOLS, NURSING HOMES AND MEDICAL RESEARCH FACILITIES; TO FOSTER AND CONDUCT EDUCATION IN MEDICINE IN ALL ITS BRANCHES AND IN THOSE ADJACENT AND KINDRED ARTS AND SCIENCES SUCH AS NURSING AND TECHNICAL TRAINING WHICH CONTRIBUTE TO THE DIAGNOSIS, TREATMENT, CARE AND PREVENTION OF DISEASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROANE GENERAL HOSPITAL GENERATED GROSS REVENUE OF $132,403,437 OF WHICH $73,047,564 WAS UNCOLLECTIBLE DUE TO CONTRACTUAL AGREEMENTS WITH MEDICARE, MEDICAID AND OTHER THIRD-PARTY PAYORS. BAD DEBTS DUE TO INABILITY OR UNWILLINGNESS OF PATIENTS TO PAY AMOUNTED TO $2,860,961. ADDITIONALLY, CHARGES FOR PATIENTS MEETING 200% OF THE POVERTY LEVEL AND WHO QUALIFIED FOR CHARITY CARE WERE WRITTEN OFF TOTALING $713,537.
OTHER PROGRAMS PROVIDED INCLUDE CARDIAC REHAB, LABORATORY SERVICES, EMERGENCY ROOM, PHARMACY, RADIOLOGY, CT SCAN, ULTRASOUND, MRI, NUCLEAR MEDICINE, PHYSICAL THERAPY, OPERATING ROOM AND RHC'S. REVENUE AND EXPENSES RELATED TO THESE SERVICES ARE INCLUDED ABOVE IN BOX 4A.
AS A CRITICAL ACCESS HOSPITAL WE PROVIDED HEALTH CARE SERVICES TO OUR COMMUNITY WHICH INCLUDED THE FOLLOWING DAYS OF CARE: SKILLED/INTERMEDIATE CARE FACILITY 12,446; SWING 1,695; RESPITE 0; AND ACUTE CARE 787.ADDITIONALLY, WE PROVIDED 46,117 OUTPATIENT DIAGNOSTIC VISITS; 7,382 EMERGENCY ROOM VISITS AND 42,474 RURAL HEALTH CLINIC PROVIDER VISITS.REVENUE AND EXPENSES RELATED TO THESE SERVICES ARE INCLUDED ABOVE IN BOX 4A.
THE HOSPITAL PROVIDED COMMUNITY HEALTH EDUCATION AND HEALTH SCREENING SERVICES AT REDUCED FEES DURING THE YEAR INCLUDING HEALTH FAIRS; DIABETES EDUCATION SEMINARS AND SCREENINGS; AND SPORTS PHYSICALS. THE HOSPITAL SERVED A TOTAL OF 4,170 COMMUNITY PARTICIPANTS THROUGH ITS COMMUNITY HEALTH EDUCATION AND HEALTH SCREENING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack D Garrett II Board President | OfficerTrustee | 0.5 | $0 |
William G Downey Jr Board Vice President | OfficerTrustee | 0.5 | $0 |
John A Varda Board Treasurer | OfficerTrustee | 0.5 | $0 |
G Jeanette Atkinson Board Secretary | OfficerTrustee | 0.5 | $0 |
Doug Bentz Ceo/ex Officio | OfficerTrustee | 40 | $597,140 |
Kevin M Gaughan Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cps Solutions Llc Pharmacy, Physical Therapy And Supply Ch | 9/29/23 | $595,411 |
Prolink Healthcare Nursing And Allied Health Staffing | 9/29/23 | $523,871 |
First Settlement Orthopaedics Orthopaedic Physicians | 9/29/23 | $429,900 |
New Era Technology Technology Infrastructure And Support | 9/29/23 | $442,569 |
Firstsource Solutions Hospital Billing And Collection Services | 9/29/23 | $411,043 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $55,556 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $83,056 |
| Total Program Service Revenue | $61,458,878 |
| Investment income | $111,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,937 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,515,507 |
| 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. | $1,491,453 |
| Compensation of current officers, directors, key employees. | $462,201 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,277,638 |
| Pension plan accruals and contributions | $581,742 |
| Other employee benefits | $4,642,894 |
| Payroll taxes | $1,475,117 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $89,344 |
| 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 | $8,342,013 |
| Advertising and promotion | $174,895 |
| Office expenses | $2,282,970 |
| Information technology | $892,100 |
| Royalties | $0 |
| Occupancy | $499,080 |
| Travel | $9,789 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $603,418 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,249,506 |
| Insurance | $1,179,167 |
| All other expenses | $1,591,833 |
| Total functional expenses | $62,525,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,336,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,583,828 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,105,750 |
| Prepaid expenses and deferred charges | $201,574 |
| Net Land, buildings, and equipment | $31,466,766 |
| Investments—publicly traded securities | $2,053,696 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,293,462 |
| Total assets | $50,041,902 |
| Accounts payable and accrued expenses | $7,554,870 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $23,888,094 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,095,392 |
| Total liabilities | $33,538,356 |
| Net assets without donor restrictions | $16,201,245 |
| Net assets with donor restrictions | $302,301 |
| 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 | $50,041,902 |