Florida Hospital Medical Group Inc
- Assets
- $261.9m
- Revenue
- $775.2m
- Investments
- $0.0
- Employees
- 4,627
- Location
- Maitland, FL
- Founding
- 07/1990
- Data as of
- 12/2021
- EIN
- 59-3214635
Organization Overview
Florida Hospital Medical Group Inc is located in Maitland, FL. The organization was established in 1990. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. As of 12/2021, Florida Hospital Medical Group Inc employed 4,627 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Florida Hospital Medical Group 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 12/2021, Florida Hospital Medical Group Inc generated $775.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $776.4m during the year ending 12/2021. While expenses have increased by 9.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF PHYSICIAN PRACTICES AND PROVISION OF RELATED MEDICAL SERVICES.
Describe the Organization's Program Activity:
THE PRIMARY MISSION OF FHMG IS TO SERVE THE HEALTH CARE NEEDS OF THE LOCAL COMMUNITY BY PROVIDING BROAD ACCESS TO SERVICES THROUGH VARIOUS PROGRAMS, INCLUDING PHYSICIAN PARTICIPATION IN MEDICARE, MEDICAID, AND BY PROVIDING INDIGENT CARE. THERE WERE 2,423,060 PATIENT VISITS DURING THE CURRENT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patel MD Vipul Physician | 50 | $4,945,184 | |
Holloway MD Robert W Physician | 50 | $1,881,331 | |
Bhatheja MD Rohit Physician | 50 | $1,571,474 | |
Rico MD Tace Physician | 50 | $1,535,051 | |
Kumar MD Monique Physician | 50 | $1,517,001 | |
Patel MD Rakesh Former Cmso | 44.2 | $1,116,218 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Orlando Neurosurgery Staffing | 12/30/21 | $2,591,500 |
Simplee Payment Processing | 12/30/21 | $485,167 |
Nayer Khouzam Md Pa Staffing | 12/30/21 | $540,000 |
Gray Robinson Attorneys At Law Consulting | 12/30/21 | $536,687 |
Zotec Partners Llc Billing Services | 12/30/21 | $4,116,330 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,238,172 |
| All other contributions, gifts, grants, and similar amounts not included above | $820,414 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,058,586 |
| Total Program Service Revenue | $770,120,434 |
| Investment income | $1,437,183 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $56,092 |
| Net Gain/Loss on Asset Sales | $1,567,922 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $775,240,217 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,500 |
| 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. | $2,375,813 |
| Compensation of current officers, directors, key employees. | $2,375,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $523,900,096 |
| Pension plan accruals and contributions | $15,602,711 |
| Other employee benefits | $51,782,730 |
| Payroll taxes | $23,492,517 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,385,362 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $122,911 |
| Fees for services: Other | $68,150,874 |
| Advertising and promotion | $1,213,177 |
| Office expenses | $6,067,748 |
| Information technology | $3,379,012 |
| Royalties | $0 |
| Occupancy | $30,259,894 |
| Travel | $1,466,548 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $225,701 |
| Interest | -$9,028 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,271,967 |
| Insurance | $17,382,660 |
| All other expenses | $360,551 |
| Total functional expenses | $776,360,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,781 |
| Savings and temporary cash investments | $86,660,010 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,974,298 |
| 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 | $789,979 |
| Net Land, buildings, and equipment | $23,388,364 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $18,353,271 |
| Other assets | $86,671,934 |
| Total assets | $261,853,637 |
| Accounts payable and accrued expenses | $81,800,683 |
| 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 | $103,377,491 |
| Total liabilities | $185,178,174 |
| Net assets without donor restrictions | $76,675,463 |
| 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 | $261,853,637 |
Grants Awarded
Over the last fiscal year, Florida Hospital Medical Group Inc has awarded $22,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Altamonte Springs, FL PURPOSE: GENERAL SUPPORT | $15,000 |
Winter Park, FL PURPOSE: GENERAL SUPPORT | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Florida Hospital Medical Group Inc has recieved totaling $351,513.
| Awarding Organization | Amount |
|---|---|
Sunsystem Development Corporation Altamonte Springs, FL PURPOSE: General Support | $351,513 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Avmed Inc Gainesville, FL | $315,740,193 | $800,159,081 |
Florida Hospital Medical Group Inc Maitland, FL | $261,853,637 | $775,240,217 |
Florida Hospital Physician Group Inc Tampa, FL | $40,564,224 | $202,269,880 |
Baycare Select Health Plans Inc Clearwater, FL | $47,758,230 | $90,273,183 |
Sharity Ministries Inc Atlanta, GA | $1,395,232 | $129,043,524 |
Pediatric Specialty Group Inc Miami, FL | $0 | $58,299,031 |
Athens Regional Specialty Services Inc Athens, GA | $28,364,283 | $72,507,816 |
Hamilton Physician Group Inc Dalton, GA | $5,859,770 | $25,048,912 |
Archbold Medical Group Inc Thomasville, GA | $5,272,330 | $16,475,298 |
Alpha & Omega Health Care Providers Huntsville, AL | $43,378 | $327,346 |
Florida Health Maintenance Organization Consumer Assistance Tallahassee, FL | $10,030,216 | $307,982 |
Georgia Medical Group Administrators Inc Cornelia, GA | $132,096 | $270,900 |