Piedmont Healthcare Inc
- Assets
- $3.7b
- Revenue
- $261.3m
- Investments
- $0.0
- Employees
- 4,200
- Location
- Atlanta, GA
- Founding
- 04/1983
- Data as of
- 06/2022
- EIN
- 58-1503902
Organization Overview
Piedmont Healthcare Inc is located in Atlanta, GA. The organization was established in 1983. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 06/2022, Piedmont Healthcare Inc employed 4,200 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Piedmont Healthcare 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, Piedmont Healthcare Inc generated $261.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $221.0m during the year ending 06/2022. While expenses have increased by 10.6% 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 2015, Piedmont Healthcare Inc has awarded 145 individual grants totaling $2,682,249. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PIEDMONT HEALTHCARE, INC. ("PHC") IS ORGANIZED TO BENEFIT, MANAGE THE FUNCTIONS OF, AND CARRY OUT THE CHARITABLE PURPOSES OF ITS SUBSIDIARY ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PIEDMONT HEALTHCARE, INC. ("PHC"), IS THE TAX-EXEMPT PARENT OF ITS PUBLICLY SUPPORTED SUBSIDIARIES (LISTED IN SCHEDULE R ATTACHED). PHC PROVIDES CENTRALIZED MANAGEMENT SERVICES TO ITS SUBSIDIARIES, INCLUDING ACCOUNTING, HUMAN RESOURCES, IT, FINANCIAL MANAGEMENT, AND ADVISORY SUPPORT. THESE CENTRALIZED SERVICES RESULT IN GREATER OPERATING EFFICIENCIES AND ALLOW ITS SUBSIDIARY ORGANIZATIONS TO BETTER PROVIDE OUTSTANDING HEALTHCARE AND EDUCATION TO THEIR SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Kevin Brown Board Member & Ceo, Phc | OfficerTrustee | 54 | $3,184,366 |
Mr Michael Mandl Exec. Vice President | Officer | 53 | $1,529,720 |
Dr Leigh Hamby MD Phc Cmo | Officer | 52 | $1,211,455 |
Dr Charles Brown MD Physician | Officer | 50 | $0 |
Mr Thomas Arnold Treasurer/cfo Phc | Officer | 38 | $1,131,535 |
Mr Sidney Kirschner Chief Philanthropy Officer | Officer | 53 | $1,121,518 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cumberland Group Consulting Services | 6/29/22 | $9,066,115 |
King Spalding Llp Legal Services | 6/29/22 | $4,297,088 |
Modusone Health Llc Healthcare Consult. | 6/29/22 | $3,140,000 |
Healthcare Financial Resources Llc Revenue Cycle Mgt | 6/29/22 | $2,490,263 |
Purchasing Power Llc Employee Benefits | 6/29/22 | $2,418,174 |
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 | $28,164 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,164 |
| Total Program Service Revenue | $210,287,996 |
| Investment income | $23,877,941 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,556,137 |
| Net Gain/Loss on Asset Sales | $2,201,767 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $261,313,839 |
| 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. | $10,344,882 |
| Compensation of current officers, directors, key employees. | $3,620,709 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,874,740 |
| Pension plan accruals and contributions | -$1,833,449 |
| Other employee benefits | $7,888,151 |
| Payroll taxes | $1,664,806 |
| Fees for services: Management | $1,128,543 |
| Fees for services: Legal | $922,083 |
| Fees for services: Accounting | $294,617 |
| Fees for services: Lobbying | $396,641 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $460,079 |
| Fees for services: Other | $25,132,941 |
| Advertising and promotion | $3,617,806 |
| Office expenses | $19,985,030 |
| Information technology | $2,296,158 |
| Royalties | $0 |
| Occupancy | $16,617,972 |
| Travel | $240,937 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $67,356,880 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,665,936 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $220,993,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $849,317,194 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $171,169,984 |
| Accounts receivable, net | $5,199,026 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,472,001 |
| Net Land, buildings, and equipment | $349,837,543 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $136,989,871 |
| Intangible assets | $189,378 |
| Other assets | $2,155,002,945 |
| Total assets | $3,702,177,942 |
| Accounts payable and accrued expenses | $278,728,141 |
| Grants payable | $0 |
| Deferred revenue | $45,264,878 |
| 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 | $1,909,067,196 |
| Total liabilities | $2,233,060,215 |
| Net assets without donor restrictions | $1,468,447,636 |
| Net assets with donor restrictions | $670,091 |
| 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 | $3,702,177,942 |
Grants Awarded
Over the last fiscal year, Piedmont Healthcare Inc has awarded $675,500 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION PURPOSE: CMTY BENEFIT | $20,000 |
AMER ASSOC PHYS INDIAN ORIGIN PURPOSE: CMTY BENEFIT | $25,000 |
ARTHRITIS FOUNDATION INC PURPOSE: CMTY BENEFIT | $15,000 |
ATLANTA TRACK CLUB PURPOSE: CMTY BENEFIT | $75,000 |
COUNCIL FOR QUALITY GROWTH PURPOSE: CMTY BENEFIT | $10,000 |
BOYS & GIRLS CLUBS PURPOSE: CMTY BENEFIT | $7,500 |