Memorial Health Systems Inc
- Assets
- $611.8m
- Revenue
- $526.0m
- Investments
- $11.9m
- Employees
- 3,402
- Location
- Daytona Beach, FL
- Founding
- 08/1968
- Data as of
- 12/2021
- EIN
- 59-0973502
Organization Overview
Memorial Health Systems Inc, operating under the name Adventhealth Daytona Beach, is located in Daytona Beach, FL. The organization was established in 1968. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Adventhealth Daytona Beach employed 3,402 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adventhealth Daytona Beach 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, Adventhealth Daytona Beach generated $526.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $487.9m during the year ending 12/2021. While expenses have increased by 8.2% 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, Adventhealth Daytona Beach has awarded 53 individual grants totaling $3,258,629. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MEDICAL CARE TO THE COMMUNITY THROUGH THE OPERATION OF A HOSPITAL WITH A TOTAL OF 362 BEDS.
Describe the Organization's Program Activity:
OPERATION OF A ACUTE CARE HOSPITAL WITH 18,814 PATIENT ADMISSIONS, 109,302 PATIENT DAYS, 181,786 OUTPATIENT VISITS, AND 223,915 PHYSICIAN PRACTICE PATIENT VISITS IN THE CURRENT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brown Douglas Ahdb Physician Advisor | 50 | $301,744 | |
Hofeldt Marchelle Ahdb Physician Advisor | 50 | $293,031 | |
Dorr John Ahdb Chief Physicist | 50 | $253,791 | |
Collins William Ahdb Medical Physicist | 50 | $237,152 | |
Sutkowi-Baumgardner Jeanette Ahdb Med Dir Phy Advisor | 50 | $224,874 | |
Arab MD Dinesh Director | Trustee | 23.5 | $175,065 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amn Healthcare Inc Agency Labor | 12/30/21 | $15,984,756 |
Crothall Healthcare Inc Biomedical Services | 12/30/21 | $2,156,437 |
Aya Healthcare Inc Agency Labor | 12/30/21 | $1,716,835 |
The Robins And Morton Group Contractor - Building Services | 12/30/21 | $3,844,756 |
Brown Parker & Demarinis Advertising In Marketing And Advertising | 12/30/21 | $1,216,156 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $21,765 |
| Government grants | $1,677,790 |
| 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 | $1,699,555 |
| Total Program Service Revenue | $512,028,092 |
| Investment income | $5,941,852 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,379,105 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $526,048,604 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $694,229 |
| 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. | $3,486,660 |
| Compensation of current officers, directors, key employees. | $3,486,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,481,394 |
| Pension plan accruals and contributions | $5,894,358 |
| Other employee benefits | $17,201,567 |
| Payroll taxes | $11,473,287 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,626,994 |
| Fees for services: Accounting | $84,892 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $508,157 |
| Fees for services: Other | $175,071,871 |
| Advertising and promotion | $4,565,020 |
| Office expenses | $6,030,394 |
| Information technology | $17,028,451 |
| Royalties | $0 |
| Occupancy | $9,286,718 |
| Travel | $95,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,621,223 |
| Interest | $2,980,390 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,163,128 |
| Insurance | $4,085,043 |
| All other expenses | $1,095,623 |
| Total functional expenses | $487,877,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,036 |
| Savings and temporary cash investments | $226,816,648 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,949,889 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,319,473 |
| Prepaid expenses and deferred charges | $17,039,486 |
| Net Land, buildings, and equipment | $257,233,958 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,850,971 |
| Investments—program-related | $0 |
| Intangible assets | $12,234,118 |
| Other assets | $15,327,716 |
| Total assets | $611,778,295 |
| Accounts payable and accrued expenses | $44,761,121 |
| 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 | $14,842 |
| Other liabilities | $143,745,418 |
| Total liabilities | $188,521,381 |
| Net assets without donor restrictions | $417,290,351 |
| Net assets with donor restrictions | $5,966,563 |
| 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 | $611,778,295 |
Grants Awarded
Over the last fiscal year, Memorial Health Systems Inc has awarded $694,229 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Daytona Beach, FL PURPOSE: PROVISION OF GENERAL ADMINISTRATIVE SUPPORT | $349,633 |
Daytona Beach, FL PURPOSE: GENERAL SUPPORT | $221,596 |
Ormond Beach, FL PURPOSE: GENERAL SUPPORT | $100,000 |
Ormond Beach, FL PURPOSE: GENERAL SUPPORT | $12,090 |
Deland, FL PURPOSE: GENERAL SUPPORT | $10,910 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Memorial Health Systems Inc has recieved totaling $274,985.
| Awarding Organization | Amount |
|---|---|
Memorial Health Systems Foundation Inc Daytona Beach, FL PURPOSE: MEDICAL EQUIPMENT | $262,895 |
Memorial Health Systems Foundation Inc Daytona Beach, FL PURPOSE: PRENATAL KITS | $12,090 |
Endowment Analysis
| Beg. Balance | $4,109,813 |
| Earnings | $106,587 |
| Ending Balance | $4,216,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Memorial Health Systems Inc Daytona Beach, FL | $611,778,295 | $526,048,604 |
Tanner Medical Center Inc Carrollton, GA | $1,025,880,697 | $412,043,057 |
West Kendall Baptist Hospital Inc Miami, FL | $288,007,221 | $375,374,668 |
Tanner Medical Center Carrollton, GA | $469,761,069 | $338,508,721 |
Houston Hospitals Inc Warner Robins, GA | $374,033,073 | $309,918,266 |
West Georgia Medical Center Inc Marietta, GA | $243,101,632 | $237,917,313 |
Florida Hospital Healthcare Partners Inc Ormond Beach, FL | $26,889,759 | $192,832,663 |
Viera Hospital Inc Rockledge, FL | $296,417,064 | $158,671,950 |
Piedmont Mountainside Hospital Inc Jasper, GA | $64,178,508 | $116,427,064 |
Phoebe Sumter Medical Center Inc Americus, GA | $158,309,975 | $104,741,740 |
Hughston Hospital Inc Columbus, GA | $85,972,460 | $96,015,417 |
Piedmont Walton Hospital Inc Monroe, GA | $55,011,766 | $113,861,474 |