West Virginia University Medical Corporation
- Assets
- $14.9m
- Revenue
- $42.0m
- Investments
- $0.0
- Employees
- 133
- Location
- Charleston, WV
- Founding
- 07/2002
- Data as of
- 12/2023
- EIN
- 55-0779739
Organization Overview
West Virginia University Medical Corporation, operating under the name West Virginia University Physicians of Charleston, is located in Charleston, WV. The organization was established in 2002. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, West Virginia University Physicians of Charleston employed 133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Virginia University Physicians of Charleston 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 12/2023, West Virginia University Physicians of Charleston generated $42.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $44.9m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, West Virginia University Physicians of Charleston has awarded 14 individual grants totaling $10,440,017. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE WEST VIRGINIA UNIVERSITY SCHOOL OF MEDICINE - CHARLESTON DIVISION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION SUPPORTED THE FACULTY PHYSICIANS OF THE WEST VIRGINIA UNIVERSITY SCHOOL OF MEDICINE IN THEIR PROVISION OF MEDICAL SERVICES WITH APPROXIMATELY 97,867 PATIENT VISITS DURING 2023. THE CORPORATION INCURRED EXPENDITURES FOR SALARIES, WAGES, AND EMPLOYEE BENEFITS ON BEHALF OF THE SCHOOL OF MEDICINE FOR FACULTY PHYSICIANS AND STAFF.
THE CORPORATION CONTINUOUSLY MEETS ITS EXEMPT PURPOSE BY PROVIDING FUNDS TO THE STATE-SUPPORTED WEST VIRGINIA UNIVERSITY SCHOOL OF MEDICINE. BY PROVIDING THESE FUNDS, THE CORPORATION HAS BOTH LESSENED THE BURDENS OF GOVERNMENT AND ADVANCED THE GRADUATE MEDICAL EDUCATION IN WEST VIRGINIA. AS PART OF ITS MISSION TO SUPPORT THE SCHOOL OF MEDICINE, THE CORPORATION INCURRED EXPENDITURES FOR PROFESSIONAL LIABILITY PREMIUMS ON BEHALF OF THE FACULTY PHYSICIANS OF THE SCHOOL OF MEDICINE OF APPROXIMATELY $1,086,927 FOR THE YEAR ENDED DECEMBER 31, 2023
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Richmond Director | Trustee | 40 | $758,282 |
Benjamin Dyer Physician | 40 | $749,564 | |
Amy Deipolyi Physician | 40 | $650,524 | |
Richard Umstot Physician | 40 | $647,920 | |
Michael Elmore Physician | 40 | $637,420 | |
Shadi Abu-Halimah Physician | 40 | $614,614 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Locumtenenscom Llc Healthcare Staffing | 12/30/21 | $253,189 |
Morgan Stanley Smith Barney Holding Consulting And Investment Advisory | 12/30/21 | $100,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $41,688,351 |
| Investment income | $306,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,008,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,897,011 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,592,194 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,062,641 |
| Pension plan accruals and contributions | $3,709,503 |
| Other employee benefits | -$5,059,384 |
| Payroll taxes | $1,399,265 |
| Fees for services: Management | $350,000 |
| Fees for services: Legal | $8,522 |
| Fees for services: Accounting | $70,083 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $420,942 |
| Advertising and promotion | $0 |
| Office expenses | -$282,836 |
| Information technology | $6,296 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $373,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,559 |
| Insurance | $1,239,875 |
| All other expenses | $0 |
| Total functional expenses | $44,890,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,032,861 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $590,190 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,966 |
| Net Land, buildings, and equipment | $66,307 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,228,200 |
| Intangible assets | $0 |
| Other assets | $5,015,152 |
| Total assets | $14,936,676 |
| Accounts payable and accrued expenses | $7,907,552 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,907,552 |
| Net assets without donor restrictions | $7,029,124 |
| 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 | $14,936,676 |
Grants Awarded
Over the last fiscal year, West Virginia University Medical Corporation has awarded $1,395,184 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WVU SCHOOL OF MEDICINE - CHARLESTON DIVISION PURPOSE: Support | $1,387,184 |
CAMC HEALTH EDUCATION AND RESEARCH INSTITUE INC PURPOSE: Support | $8,000 |