Florida Hospital Medical Group Inc
- Assets
- $261.9m
- Revenue
- $775.2m
- Investments
- $0.0
- Employees
- 5,138
- 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 12/2022, Florida Hospital Medical Group Inc employed 5,138 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
990
Mission & Program ActivityExcerpts From the 990 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:
Part 3 - Line 4a
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 2,495,342 PATIENT VISITS DURING THE CURRENT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patel MD Vipul Physician | 50 | $4,435,690 | |
Haffner PHD Randall Director/chairman | Trustee | 0.5 | $0 |
Bhatheja MD Rohit Physician | 50 | $2,329,843 | |
Goodman Todd Director | Trustee | 0.5 | $0 |
Barsoum MD Basiem Physician | 50 | $1,874,772 | |
Kumar MD Monique Physician | 50 | $1,761,269 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Weatherby Healthcare Staffing | 12/30/22 | $5,922,071 |
Central Florida Pulmonary Group Pa Consulting/staffing | 12/30/22 | $4,336,228 |
Locumtenenscom Llc Staffing | 12/30/22 | $4,318,525 |
Zotec Partners Llc Billing Services | 12/30/22 | $3,477,547 |
Engie Insight Services Inc Payment Processing | 12/30/22 | $2,621,532 |
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 |
|---|---|
KIDS BEATING CANCER INC PURPOSE: GENERAL SUPPORT | $7,000 |
SUNSYSTEM DEVELOPMENT CORP DBA ADVENTHEALTH FOUNDATION CENTRAL FLORIDA PURPOSE: GENERAL SUPPORT | $15,000 |