Indian River Memorial Hospital Inc
- Assets
- $211.4m
- Revenue
- $298.7m
- Investments
- $0.0
- Employees
- 2,384
- Location
- Vero Beach, FL
- Founding
- 03/1985
- Data as of
- 09/2017
- EIN
- 59-2496294
Organization Overview
Indian River Memorial Hospital Inc, operating under the name Indian River Medical Center, is located in Vero Beach, FL. The organization was established in 1985. 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 12/2022, Indian River Medical Center employed 2,384 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Indian River Medical Center 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 09/2017, Indian River Medical Center generated $298.7m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $297.0m during the year ending 09/2017. While expenses have increased by 6.6% per year over the past 2 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
IRMC SERVES AS THE AREA'S LEADING PROVIDER OF COMPREHENSIVE HIGH QUALITY HEALTH AND MEDICAL SERVICES, AND IMPROVES THE HEALTH AND WELL-BEING OF THE PEOPLE AND COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
INDIAN RIVER MEDICAL CENTER IS A 332-BED HOSPITAL IN VERO BEACH, FLORIDA. IN FISCAL YEAR 2017, THE HOSPITAL ADMITTED 14,666 PATIENTS. SERVICES WERE PROVIDED FOR 58,926 PATIENT DAYS. THE HOSPITAL HAD 519 VOLUNTEERS WHO WORKED 75,227 HOURS DURING THE YEAR. MORE THAN 61,200 PEOPLE WERE SEEN THIS YEAR IN THE HOSPITAL'S STATE-OF-THE-ART EMERGENCY DEPARTMENT. THE MEDICAL CENTER'S THREE LARGEST PROGRAM SERVICES ARE HEART, CANCER AND ORTHOPEDICS. THE HEART CENTER, AFFILIATED WITH DUKE UNIVERSITY HEALTH SYSTEMS, OPENED IN 2006 AND TREATED OVER 1,500 PATIENTS DURING THE YEAR. ITS OUTSTANDING SURGICAL OUTCOMES HAVE EARNED IT TOP RECOGNITION FROM THE SOCIETY OF THORACIC SURGEONS, WHO NAMED IT ONE OF THE BEST CARDIAC SURGERY PROGRAMS IN AMERICA. DR. CARY STOWE, MEDICAL DIRECTOR OF CARDIOVASCULAR SURGERY SERVICES, IS RECOGNIZED AS ONE OF THE TOP 1% OF THORACIC SURGEONS IN THE UNITED STATES. THE CANCER PROGRAM AFFILIATED WITH DUKE UNIVERSITY HEALTH SYSTEMS IN 2012 WITH THE GOAL OF BRINGING WORLD CLASS CANCER TREATMENT CLOSE TO THE HOME OF PATIENTS WE SERVE. THE AFFILIATION WITH DUKE ALSO PROVIDES ACCESS TO SECOND OPINIONS FROM RECOGNIZED EXPERTS WHEN NEEDED. DURING THE YEAR, THE CANCER CENTER PERFORMED 21,950 PROCEDURES. THE ORTHOPEDIC PROGRAM PROVIDED MAJOR JOINT REPLACEMENTS TO MORE THAN 1,000 PATIENTS DURING THE YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Hockmeyer PHD Chairman | OfficerTrustee | 5 | $0 |
John Pastor Vice Chairman | OfficerTrustee | 5 | $0 |
Gerri Smith Secretary | OfficerTrustee | 5 | $0 |
Jack Weisbaum Treasurer | OfficerTrustee | 5 | $0 |
Hal Brown MD Chief Of Staff | Trustee | 5 | $62,706 |
John Lindenthal MD Vice Chief Of Staff | Trustee | 5 | $42,400 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brasfield & Gorrie Llc General Contractors | 9/29/17 | $11,503,279 |
Proctor Construction Co General Contractors | 9/29/17 | $1,970,161 |
Mckesson Tech Relay Health Ahi Parent Software & Consulting | 9/29/17 | $3,686,679 |
Pinnacle Locum Tenens Llc Physician Services | 9/29/17 | $1,143,508 |
Weatherby Locums Inc Physician Services | 9/29/17 | $1,119,690 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,204,239 |
| 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 | $6,204,239 |
| Total Program Service Revenue | $290,196,927 |
| Investment income | $768,752 |
| 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 | $298,654,842 |
| 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. | $3,390,108 |
| Compensation of current officers, directors, key employees. | $3,390,108 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $135,263,381 |
| Pension plan accruals and contributions | $3,028,575 |
| Other employee benefits | $8,251,977 |
| Payroll taxes | $8,140,969 |
| Fees for services: Management | $367,539 |
| Fees for services: Legal | $584,605 |
| Fees for services: Accounting | $282,076 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,416,688 |
| Advertising and promotion | $1,260,393 |
| Office expenses | $464,125 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,074,812 |
| Travel | $184,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $260,503 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,190,132 |
| Insurance | $4,817,588 |
| All other expenses | $8,008,626 |
| Total functional expenses | $297,044,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,594,828 |
| Savings and temporary cash investments | $13,928,569 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,724,058 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,417,529 |
| Prepaid expenses and deferred charges | $2,427,462 |
| Net Land, buildings, and equipment | $104,520,336 |
| Investments—publicly traded securities | $6,567,513 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,043,837 |
| Other assets | $21,141,435 |
| Total assets | $211,365,567 |
| Accounts payable and accrued expenses | $31,882,165 |
| 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 | $5,937,383 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,140,417 |
| Total liabilities | $64,959,965 |
| Unrestricted restricted net Assets | $146,195,105 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $210,497 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $146,405,602 |