Harrison Memorial Hospital
- Assets
- $81.0m
- Revenue
- $87.5m
- Investments
- $806.2k
- Employees
- 670
- Location
- Cynthiana, KY
- Founding
- 11/1929
- Data as of
- 09/2023
- 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 09/2023, Harrison Memorial Hospital employed 670 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 09/2023, Harrison Memorial Hospital generated $87.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $83.3m during the year ending 09/2023. While expenses have increased by 7.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HARRISON MEMORIAL HOSPITAL EXISTS FOR THE PURPOSE OF PROVIDING HIGH QUALITY HEALTH AND MEDICAL CARE SERVICES TO THE PEOPLE OF HARRISON AND SURROUNDING COUNTIES OF OUT REGION WITHIN THE CAPABILITIES OF OUR RESOURCES. IN FULFILLING THIS MISSION, WE STRIVE FOR EXCELLENCE IN: THE CARE WE DELIVER; IN PATIENT SAFETY; IN THE FACILITIES WE PROVIDE; IN THE RECRUITMENT, RETENTION, AND DEVELOPMENT OF DEDICATED PHYSICIANS AND PERSONNEL; IN FACILITATING, COORDINATING AND PROVIDING ACCESS TO GENERAL AND SPECIALIZED HEALTH SERVICES THROUGH OUR OWN RESOURCES AND IN COLLABORATION WITH THE RESOURCES OF OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOSPITAL PROVIDED HEALTHCARE TO 1,226 IN-PATIENTS, 194 NURSERY PATIENTS, AND 162,398 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 $1,240,388 OF CHARITY CARE AT COST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Matthew K Shotwell Cardiology Physician | 40 | $2,033,524 | |
Dr Srinadh Annangi Pulmonology Physician | 40 | $505,164 | |
Dr Maria Alejan Pavez Neurology Physician | 40 | $464,018 | |
Dr Madan Mohan Reddy Orthopedic Physician | 40 | $449,665 | |
Dr Bal Kri Srivastava Cardiology Physician | 40 | $420,499 | |
Dr Stephen Toadvine Ceo/secretary | Officer | 40 | $350,473 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Anesthesia Of The Bluegrass Nurse Anesthesia Services | 9/29/23 | $1,362,000 |
Medycus Er Physician Staffing | 9/29/23 | $1,001,000 |
Ortho Kentucky Pllc Ortho Services | 9/29/23 | $337,880 |
Christy Sapp M D Oncology Physician Services | 9/29/23 | $360,000 |
New Lexington Clinic Llc Gastro And Ent Services | 9/29/23 | $571,300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $333,050 |
| All other contributions, gifts, grants, and similar amounts not included above | $241,787 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $574,837 |
| Total Program Service Revenue | $84,028,168 |
| Investment income | $56,810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $617,539 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,548,131 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,000 |
| Grants and other assistance to domestic individuals. | $12,040 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,116,444 |
| Compensation of current officers, directors, key employees. | $106,807 |
| Compensation to disqualified persons | $113,661 |
| Other salaries and wages | $32,734,168 |
| Pension plan accruals and contributions | $760,132 |
| Other employee benefits | $4,631,558 |
| Payroll taxes | $2,267,792 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,212 |
| Fees for services: Accounting | $1,024,768 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,784,584 |
| Advertising and promotion | $204,114 |
| Office expenses | $884,275 |
| Information technology | $106,112 |
| Royalties | $0 |
| Occupancy | $1,084,719 |
| Travel | $51,660 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,610 |
| Interest | $792,138 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,725,862 |
| Insurance | $1,256,704 |
| All other expenses | $917,161 |
| Total functional expenses | $83,288,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219,008 |
| Savings and temporary cash investments | $11,973,684 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,625,251 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $342,649 |
| Inventories for sale or use | $2,066,457 |
| Prepaid expenses and deferred charges | $1,251,463 |
| Net Land, buildings, and equipment | $42,516,467 |
| Investments—publicly traded securities | $5,769,458 |
| Investments—other securities | $806,170 |
| Investments—program-related | $0 |
| Intangible assets | $1,150,907 |
| Other assets | $7,316,058 |
| Total assets | $81,037,572 |
| Accounts payable and accrued expenses | $7,058,901 |
| Grants payable | $0 |
| Deferred revenue | $199,837 |
| Tax-exempt bond liabilities | $29,130,374 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,926,758 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,121,517 |
| Total liabilities | $47,437,387 |
| Net assets without donor restrictions | $33,517,994 |
| Net assets with donor restrictions | $82,191 |
| 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 | $81,037,572 |