Harrison Memorial Hospital
- Assets
- $81.6m
- Revenue
- $70.1m
- Investments
- $0.0
- Employees
- 576
- Location
- Cynthiana, KY
- Founding
- 11/1929
- Data as of
- 09/2020
- EIN
- 61-0420440
Organization Overview
Harrison Memorial Hospital is located in Cynthiana, KY. The organization was established in 1929. 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 09/2021, Harrison Memorial Hospital employed 576 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harrison Memorial Hospital 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 09/2020, Harrison Memorial Hospital generated $70.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $64.4m during the year ending 09/2020. While expenses have increased by 5.3% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY HEALTH AND MEDICAL CARE TO THE PEOPLE OF HARRISON AND SURROUNDING COUNTIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOSPITAL PROVIDED HEALTH CARE TO 1,232 IN-PATIENTS, 170 NURSERY PATIENTS AND 146,755 OUT-PATIENTS. THE HOSPITAL HAS A HIGH VOLUME OF MEDICARE AND MEDICAID PATIENTS. THE HOSPITAL TREATS ALL PATIENTS REGARDLESS OF ABILITY TO PAY. HARRISON MEMORIAL HOSPITAL PROVIDED APPROXIMATELY $1,057,000 OF CHARITY CARE AT COST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Matthew Shotwell Cardiologist | 40 | $1,966,764 | |
Dr Madan Reddy Orthopedic Surgeon | 40 | $490,006 | |
Dr Derek Clarke Ob/gyn Physician | 40 | $400,005 | |
Dr William R Crowe Jr Physician | 40 | $390,450 | |
Dr Bal Krishna Srivastava Physician | 40 | $382,697 | |
Sheila Currans Ceo/secretary | Officer | 40 | $272,430 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parke Physicians Pllc Er/wal-mart Physicians | 9/29/21 | $800,510 |
Cloudwave Llc Server Hosting Services | 9/29/21 | $525,376 |
Central Kentucky Head & Neck Ent Physician Fees | 9/29/21 | $416,500 |
Dr Michael S Gainey Pllc Er Physician | 9/29/21 | $649,110 |
Community Anesthesia Of The Bluegrass P Anesthesia Services | 9/29/21 | $1,128,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,206,660 |
| Investment income | $26,309 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$28,358 |
| Net Gain/Loss on Asset Sales | -$34,283 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,143,142 |
| Statement of Expenses | |
|---|---|
| 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. | $1,038,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,030,713 |
| Pension plan accruals and contributions | $623,124 |
| Other employee benefits | $3,801,896 |
| Payroll taxes | $1,725,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,349 |
| Fees for services: Accounting | $111,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,421,260 |
| Advertising and promotion | $161,775 |
| Office expenses | $269,782 |
| Information technology | $25,763 |
| Royalties | $0 |
| Occupancy | $595,121 |
| Travel | $29,144 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $877,584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,370,149 |
| Insurance | $826,473 |
| All other expenses | $0 |
| Total functional expenses | $64,415,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,997,383 |
| Savings and temporary cash investments | $1,855,187 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,478,011 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,821,087 |
| Inventories for sale or use | $1,503,591 |
| Prepaid expenses and deferred charges | $1,064,139 |
| Investments—publicly traded securities | $7,304,365 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $325,000 |
| Other assets | $1,060,771 |
| Total assets | $81,624,287 |
| Accounts payable and accrued expenses | $6,051,745 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $32,065,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,020,907 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,061,785 |
| Total liabilities | $52,199,437 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $29,424,850 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Harrison Memorial Hospital has recieved totaling $1,015,775.
| Awarding Organization | Amount |
|---|---|
James A And Martha R Brown Charitable Foundation Inc Lexington, KY PURPOSE: CONSTRUCTION | $1,000,000 |
Blue Grass Community Foundation Inc Lexington, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $15,775 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Marys Hospital Ozaukee Inc St Louis, MO | $0 | $119,639,290 |
Maryview Hospital Llc Suffolk, VA | $0 | $126,392,609 |
Leconte Medical Center Knoxville, TN | $91,240,969 | $144,185,798 |
Norton - Kings Daughters Health Inc Madison, IN | $327,672,291 | $141,257,726 |
Wood County Hospital Assn Bowling Green, OH | $236,887,243 | $125,669,234 |
Margaret Mary Community Hospital Inc Batesville, IN | $200,618,179 | $130,077,852 |
Davis Memorial Hospital Elkins, WV | $99,450,993 | $120,748,268 |
Gibson Area Hospital Gibson City, IL | $63,536,615 | $119,801,214 |
Shelby County Memorial Hospital Association Inc Sidney, OH | $171,819,264 | $129,965,258 |
Jane Phillips Memorial Medical Center Inc St Louis, MO | $87,499,100 | $121,263,469 |
Bon Secours-Richmond Community Hospital Richmond, VA | $200,107,508 | $168,768,277 |
Holy Cross Hospital Chicago, IL | $142,348,563 | $113,770,792 |